1793 Wreath PCGS AU58 Vine and Bars Edge Large Cent
I would appreciate inputs on this coin from any member of the forum who is interested and/or knowledgeable in EAC. This 1793 Wreath PCGS AU58 Vine and Bars Edge Large Cent (Sheldon-8) has been on the market for a very long time. I cannot find any provenance on the coin. The eye appeal is good except for a very bad hit on the lower reverse. It is currently offered for sale by a respected dealer (whose identity one could find with a little research) at the exact amount shown on the PCGS Price Guide for the grade. My questions are:
a) How could this kind of damage have occurred to such a valuable coin? It must have happened recently because it has not tarnished over.
b) Is it reasonable that PCGS would have straight graded it with this defect?
c) Should the coin warrant a PCGS Price Guide level or should it be deeply discounted?