Options
High point friction
boiler78
Posts: 3,049 ✭✭✭✭✭
in Q & A Forum
Will PCGS grade coins with light high point friction mint state?
0
boiler78
Posts: 3,049 ✭✭✭✭✭
boiler78
Posts: 3,049 ✭✭✭✭✭
boiler78
Posts: 3,049 ✭✭✭✭✭
Comments
In the early 1970s...long before third party grading, many major dealers used to describe coins as "BU Rub"...BU meant "Brilliant Uncirculated" and the "Rub" part was "cabinet friction" or wear, depending upon your point of view. Some of us thought this was kind of deceptive, especially since most of the coins sold as "BU Rub" were what we now call AU55.
On the other extreme, there was a dealer in the 1970s, who was active on the show circuit and was the strictest grader of all-time. He once told me that "All Saints have rub and a truly mint state $20 Saint does not exist." He used to describe really Gemmy Saints as "AU+++++++++." And he carried this friction obssesion to include all coins.
Finally...really digressing...in the late 1960s, a few mail order dealers tried to promote a new grade between AU and UNC. They called it "LU", for "Looks Unc." It didn't catch on.
Back to the future...High point friction is a relative matter...and sorry, but once again it's very subjective. In general, coins with the slightest touch of friction can be graded mint state...if they look mint state in all respects. An example would be a pre-civil War Liberty gold coin, which I see with a bare trace of friction often called MS62. I think that this is all OK, as long as the market understands the standard and PCGS applies it consistently.
Great question!