The virtues of AU58

Blade

I hope Stuart doesn't mind, but he posted the following in another thread and I think it deserves repeating...

I'm also regaining an interest in AU-58 19th century type coins, especially Halves & Dollars. I think that with so many condition census conscious buyers, there are alot of very beautiful high quality AU-58 type coins with great eye appeal out there which are relative bargains in today's coin market.

Please notice that I said high quality and not necessarily high grade My personal opinion is that many in the hobby are focusing too much on high certified grade, and not enough on excellent eye appeal high quality blue chip coins.

I couldn't agree more. One of my recent favorites is an AU58 1907 $2.50. I have many more expensive coins, but this one is soooo cool. Original luster equal to a mint state coin. Never dipped - super deep gold color with hints of red toning. Good strike, and almost no contact marks. Without just a hair of rub on the high points, it would be MS63-64. But instead of an $800 coin, it only cost me $170. Check it out and tell us about your AU58 beauties.



Also, in the spirit of Stuart's interest in 19th century, here is a nifty AU58 half dime. 1853 no arrows, mintage 135K. I definitely couldn't afford this Anaconda-style coin in MS64-65.

flaminio

Would you guys shut up already about AU58? It's starting to drive the prices up for these beauties. Let's just keep it our little secret, 'k?

jpumper

nice---I agree eye appeal is the key, a rub here and there is ehhh, but don't hit me too hard.

Placid

I agree, I was trying to win a trade dollar that has been going for $300-$330 latley and had to stop when it got to $450 and its now bid to $540.

coinlieutenant

Love that half dime...

airplanenut

I would have looked and said MS... that's a gorgeous gorgeous piece!

Blade

Half dime pic is does not do this coin justice. Pretty album toning - blue outside, magenta center. Reverse pic is a little closer to reality, but still better in real life.

Stuart

Blade: The beautifully blue toned Half Dime is absolutely gorgeous!! I would pick up all the top eye appeal AU coins that I could with that type of look! Thanks very much for sharing. I enjoyed meeting you and DPoole at the Houston Money show this past weekend!!

Here's a nice 1860-O PCGS AU-58 Seated Liberty Dollar that I'm waiting to receive from a recent purchase

cladking

In any series a gem with a little rub or even honest wear is going to look better
than most MS-60's. The market may well be starting to recognize this.

Stuart

Sometimes even an AU-50 like this 1871 PCGS AU-50 Seated Liberty Dollar can be very pleasing if mark free and perhaps just a bit undergraded...

Bikingnut

I just picked up another AU58 Washington for my registry set tonight on ebay. A 46D, population 1, for 10 bucks!

Stuart

BikingNut: That sounds like a great pickup to me!!

Boom

For cryin' out loud...you guys now have ME scooping up PCGS AU 58 keys!

shirohniichan

One problem of grade inflation is that many AU-58 coins with great eye-appeal have been promoted to MS-62.

hookedoncoins

I love AU58s... true value coins. The seated half in my sig is AU55... still very nice quality for a fraction of the price.

Here is a better pic of my half (not a great pic, but a little bigger):

Toning is more vibrant in person.

Barry

<< <i>Would you guys shut up already about AU58? It's starting to drive the prices up for these beauties. Let's just keep it our little secret, 'k? >>


Bob,
I thought you specialized in ANACS MS69 coins...

darktone

You can also save money going from an MS65 coin down to an MS64 or even more on an MS63 and keep going down until you find a nice coin that you like. Heck when it gets right down to it I have seen XF coins that have more eye-appeal than some gems do. Just don't buy any dogs in any grade whether it's au58 or ms60. mike

MadMonk

If I were going to do a type set, theres a good chance I would go with the high AU grades. I like em!

Blade

Stuart,
That 1860-o $1 is exactly what we're talking about. Really nice eye appeal, barely noticably rub. Even looks PL under the toning.

My half dime didn't come cheap - almost 2X sheet. But still cheaper than an MS62

dorkkarl

hey blade, am i imagining things, or can we see both edges of your coins at once??? have you somehow manipulated the laws of physics???

K S

au58

Almost goes without saying that I like the grade as well. However, like every other grade, the AU58 designation is only a relative measure. Be sure to ask yourself "compared to what?". Some are good values, some are not. And one other thing - it ain't the grade it used to be.

BillJones

Here’s one of my favorite AU-58 coin. It’s an 1853 $10 gold piece.

Few collectors take an interest in the 19th century No Motto gold coins, but if they do, they find that this type is very hard to find in attractive condition. 19th century collectors could not afford to save these coins because they represented two weeks’ wages or more. Therefore these coins were circulated and very few of them exist today in true Mint State. I first became aware of this in the 1970s when I read Walter Breen’s booklet on $10 gold piece die varieties. It was re-enforced upon me when I saw the state of preservation of the coins that were in the Eliasberg Collection when it was on display at the Philadelphia mint in 1976.

This coin is really exceptional for an AU-58. It’s in an NGC holder. Today one would be fortunate to find a coin like this. Many similar pieces are in MS-61 and 62 holders at far higher prices.

BillJones

Here is another AU-58 coin. I purchased this 1806 half eagle at the 1980 “Apostrophe Sale” that was held when the ANA convention last came to Boston. It’s now in a PCGS AU-58 holder.

Stuart

Bill: Both of your eagles are absolutely stately beautiful coins!! The 1853 has strong strike excellent luster and minimal marks. The 1806 Turban Eagle is a problem-free high grade of a true classic.

I've noticed that the Greysheet has recently begun to post AU-58 prices for U.S. Type Gold on their cover page... I think that this may be the start of a wider market appreciation of AU-58 sleepers -- and I would not be surprised to see them post AU-58 prices for other series, especially Morgans.

I was actually slightly surprised to see the AU-58 implementation for gold and not initially for Morgans.

RYK

I tend to collect AU grade coins because in the series I collect, I can rarely find/afford MS.

Here is an example of an 1884-CC $5 NGC-58:

BillJones

Hi Stuart,

Thanks for the kind words. Here is one more AU-58 for good measure.

flaminio

<< <i>I thought you specialized in ANACS MS69 coins... >>



Just for modern commems. On the side I'm putting together a 19th Century Type Set, all in AU58. Not much to show yet -- too much other stuff to buy.

Myriads

The affordibility of AU-58 Quarter Eagle Indians was the major reason that I decided to make this series the next one that I attack. After looking at a lot of coins at a show, and online I firmly believe that a very very nice and super eye appealing set can be built in grades as low as XF-40 up to AU-58 if one is patient and willing to be choosy when shopping. I have no problem with the grade and see it as bargens waitign to be found.

Myriads

Blade

Karl,
What you are seeing is the denticles, which are very strong due to a good strike. The edge is obscured by the slab. (Which is too bad)