AU 58 - the best grade for the money

ANACONDA

I bought a 1794 Half Cent in NGC AU58 yesterday.

I was really happy. I paid less than 60 grey sheet money for it and it's virtually mark free and has no perceptible wear on it...and is well centered and fully struck. Great luster for the type. A mint state 64 coin with a little rub....apparently.)

So, never being able to stop thinking unless i'm unconscious, one of my plagues, i set about for the last 45 seconds of the day before i began to sleep, to figure out why i was so happy about the coin.

So...here's why. (My apologies to all you out there who are 40 points ahead of me.....)

You want the biggest bang for the buck, right? You don't care about investment, you care about getting the most eye appealing coins for the limited amount of money you have.

AU 58 is your grade especially if you're a type collector who wants to "finish" the series this century. You know that....intuitively. But in some ways, it's hard to put your finger on just why.

The reason it's the best grade is because wear and marks are the enemy ....AND, more importantly...

wear isn't a factor when it comes to mint state coins (they don't have wear) AND ...

marks aren't a factor when it comes to circulated coins (wear is the consideration, not marks). (Yes, i know that is a simplistic view but for the most part it's on the money)

So, you can get the least amount of wear known to man AND the fewest marks for less money than the most acne ridden coin that has slipped over the "no wear" fence, on the other side of the wear/marks line of demarcation.

Of course there are pock marked AU 58 coins out there BUT most really nice coins especially early type coins, some of the most avidly collected ones, like the one i picked up were obtained by collectors out of pocket change at the time they circulated....just because they were eye appealing exemplars....usually clean and well struck. I mean, which state quarters are ending up now in cardboard holders...the nice ones or the marked up ones? Even my mother upgrades out of pocket change.

There you have it. Not well articulated but for one minute of thought and just enough time for anaconda2 to get a bath before we head over to the Baltimore show, i'd say i get at least a C+. (Feel free to lambast me or add to my thoughts, not that you needed an invitation for either...)

By the way, for those of you coming to the Baltimore show, Sean, aka anaconda2 has a 20 foot anaconda skin on the table behind his cases. (In case you've never seen one of those.)

Just look up Anaconda Rare Coins in your show handbook - we have two tables that are not next to each other - but they are close to each other.

adrian

jeffnpcb

That is the way I felt with my type sets. It's tough money at times on early large and half cent coins! It's is harder to find anything less that isn't just a hunk of hard carbon waiting for moisture to finish off!
Very good observation again Adrian!

sinin1

I have to disagree or add a qualifier and say

some AU 58's are the best grade for the money



- I have seen many AU58's that would be ugly 60's or 61's except for the slight rub


the really nice AU 58's are the ones who would be 64's 65's 66's....
-like the one you mention, nice eye appeal, really good luster, well struck

so if you buy AU 58's sight unseen, more often than not you will get a dog

291fifth

I agree with you in some ways. AU58 USED to be an exceptional grade. Unfortunately, it is one of the grades that has been ravaged by the grade inflation of the slab era. Today, most true AU58's are in MS63 or 64 holders. Every now and then a nice raw one appears, but not very often.

au58

AU58 has been my preferred grade for some time, for the reasons cited here (quality of coin and value for dollars spent). But as also noted, the grade is subject to abuse (though less so than mint state grades, which is one reason why I originally gravitated toward it) . Can we see pictures of the Half Cent?

1jester

I agree with Brother Anaconda.

RYK

I agree totally with Anaconda. In the series I collect, the AU-58 usually has better eye appeal than the MS-60-2, and sometimes even better than the 63. Even if the price difference between the 58 and 62 were nil, I would rather have a barely detectable rub than a bunch of distracting marks.

rays

Adrian,
Was the 1794 Half cent a C1a perhaps? If so, I have a story about it.
Gene

KlectorKid

You have seen the light! I love AU-58 unless I can afford ms-62+ I have 2 gold AU-58s and both would be easy 62 or 3's without the rub. But they would also be out of my price range. When I looked at the picture of your sons buffalo nickel toner I could have swarn it was 65 I asked him and he said AU-58 I was amazed how great it looked for being circualted.

keithdagen

Adrian, does this mean that we'll start seeing some really nice AU-58 coins in your inventory now? No more of those MS-65 bust halves and stuff?

tjkillian

Although I like the grade AU-58 and have lots of them, I could not say that that grade should be used for all coins. Many coins the price goes up very little to higher grades up to MS-65 (1931-S Lincoln Cents, 1879-S Morgan Dollars come to mind). I would go for AU-58 if it were the sweet spot, right before a large price spike.

Tom

Bikingnut

One of the nicest Washingtons I have in my set is a 34P in a PCGS AU58 Holder. It has better eye appeal than some of the 65's and 66's that I have.

MadMonk

I agree! (with conditions of course)

paigowjohnny

AU-58 really sucks though when you pay for and think you're getting an MS coin......just read all the nice comments about Coast to Coast, Skyline, and the other "BU dealers"

09sVDB

I too agree, but also MS64 is great for those who can't afford the 65's.