Is AU58 a cop out for PCGS? Submissions results

Ogden

Not very happy with my submission results. The cleaned coin was out of an original roll. The Franklin was beautiful as were the commemoratives. See invoice 9001374. Don't know what to think anymore.

Ogden

gmarguli

Link

An original roll of Morgan dollars? There aren't too manyof those floating around. Most are put together rolls.

Was this an economy submission?

keithdagen

Ogden,

If the commems are beautifully toned and you don't want them at that grade, let me know.

tjkillian

AU-58 is PCGS' way of getting more submissions. I have more AU-58s than I can shake a stick at (and I can shake a stick at a lot of coins).

Tom

braddick

Generally an AU58 coin is one that shows some rub. When you get your Columbian back, tilt the coin under light and see if the rub really isn't there. I bet it is.
Regarding the PR63 Franklin? Only you know, when you get it back, how many hairlines are on it and if this is a fair grade, in your opinion.

michael

for me with proof coins hairlines are really very easy to miss

many professionl insider dealers are fooled when previewing auction coins or are on the bourse also

au 58 coins also to me are sometimes ms 62/63 coins and are really hard to tell in some instances that is why i never liked the 60 to 63 grades for ms coins and for some series i do not like even the 64 grades!

i love the 58 grade though if a am an end buyer of the coin in an au 58 holder that sometimes to me a 63.................... sometimes!

i have seen some really super nice coins i would have called at least 62 maybe 63 in au 58 holders it is for me a scary thought

sincerely michael

MastaHanky

I have talked to several people saying they're handing out AU58's a lot more often than they used to. Myself, I'm buying them up like mad (I bought one today!)...I've come across several that are very clearly uncirculated. And if they do have a tiny bit of rub, you still usually get a better looking coin than an MS60-62.

Placid

Ouch
I cracked a coin out of a pcgs ms62 holder and it came back au 58.

keithdagen

Quit buying AU-58 coins. They are overpriced for what you get. Buy MS instead and sell me your AU coins, especially toned ones.



I picked up an AU-58 No Drapery Half Dime with great toning about a month ago at a show. 10x magnification, zero wear, paid MS-62 money for it, and would put it against any graded MS-62 ANY day of the week.

Elcontador

Kranky, in his extensive comments re the ANA grading seminar he attended, mentioned
that MS 58-MS 63 was sort of a "no-man's land" for hard to grade coins, such as SLQs,
where strike is an issue. I can see this also applying to some Buffalo Nickels and to
Capped Bust Halves.

I take the easy way out and avoid these coins. One thing I try to do is avoid the
"multiple submission for it to get into the right holder" scenario.

greghansen

I agree proof hairlines are a bit tricky sometimes...especially at a show where normally the only available lighting is incandescent. Nice halogen 'phasers' (my pet name for them) help spot those nasty little grade robbing critters. I've seen coins that look great for 359 degrees of rotation....but on that last degree, the halogen brings them up. Unfortunately, by the time you get your proof under a halogen light, you've normally ponied up the money and at best are deciding on whether to return and at worst are stuck with whatever the light reveals.

Ogden

Greg, I know it was out of an "original roll". I bought it from PAPA TONY on ebay. Best coins on EBAY!
Check him out. He inherited thousand of coins, rolls, etc. I believe him because I have bought many of his coins. As far as the AU-58, I'm not complaining necesarily, because I still have the coins, but if you want to sell the coin it's always better (unless I'm mistaken) to have an MS-grade rather than an AU. I think many of the members here appreciate this grade, but does the general public who by and large do most of the bidding at EBAY. Comments welcome!!!


Ogden

Ogden

Greg, sorry it was an economy. PCGS received it on 11-13-02.

dorkkarl

i think au-58 is a badly under-utilized grade. far far far too many "sliders" end up in unc slabs. in fact, for me when i buy a slab, i very often consider "au-58" to be a <i>higher</i> grade than "ms-60" or "ms-61".

K S

BillJones

Here is an 1839 No Drapery quarter in NGC AU-58. Most of the seated materail I see these days in MS-63 holders is no better.

IndianHeadMan

Papa Tony = joke

Even I can tell that his coins are cleaned.

paigowjohnny

I'll buy 58's all day long as long as I'm not paying MS money for them...

jom

AU58 is a great grade. Even if the coin is circulated many of these are as nice as many MS63s or more (many of these end up as MS62s).

I realize there are some tough coins to grade that end up as AU58 but strike in some cases shouldn't distract you. If it's a Buffalo nickel for instance the crummy strike (Buffs head, Indian braid) is usually in a different place than the wear (Buffs butt). Whereas an SLQ COULD have strike failure in Liberties leg which is were the wear shows up. Gold can also be difficult at first but once you learn to SEE the wear you get used to it, so to speak.

jom