how to price an AU-58
Bruggs
Posts: 449 ✭✭
Help me out. I recently had graded a 1942/1-D Mercury and it came back PCGS AU-58. This coin is a true slider. Nice lustre, well struck (coin has full bands) and very nice eye appeal. AU bid is $775 while 60 bid is $1600. I would like to hear some opinions on the value of this coin. Anyone care to comment?
Thanks.
Bruggs
Thanks.
Bruggs
0
Comments
<< <i>Help me out. I recently had graded a 1942/1-D Mercury and it came back PCGS AU-58. This coin is a true slider. Nice lustre, well struck (coin has full bands) and very nice eye appeal. AU bid is $775 while 60 bid is $1600. I would like to hear some opinions on the value of this coin. Anyone care to comment? >>
First of all, realize that AU-58 pricing is all over the map, perhaps more so than any other grade.
Some certified 58s are marginal at that grade or even overgraded 55s. Some are properly graded and worth about what the guides would tell you. Others are "gems with a trace of wear," ones that look better than a lot of MS-63s you've seen out there.
Really nice 58s, depending on the coin, the series and condition rarity status of it, will often sell for MS-62 or even MS-63+ money.
The best thing you can do, if this is truly a significantly above average AU-58 coin, is take a great (but accurate) picture of it. You'll probably get more than MS-60 money for it if the coin's "all that," and perhaps even more than that.
Here's an example of a nice AU-58 I was tracking in eBay (until it got too pricey for me) which ends in less than two hours: 1901 Liberty Nickel, ICG AU-58. Forget that I thought the ICG slab might let me pick this one off for less than, say, a PCGS coin. No, this one is nicer than most, and you can see the full luster and great strike. This one is already up to MS-62 and approaching MS-63 money (the current high bidder, I've noticed, seems to be after a lot of the same coins as me). The PCGS price guide shows $70 in MS-60 and probably about $62-65 in "typical" AU-58. Some AU-58s are truly worth at least twice as much as other AU-58s for the same date, mintmark and variety.
The pictures are bringing in these bids -- remember that. If it's truly a PQ AU-58 coin, good pictures will bring MS money. I've found that out repeatedly and sometimes the hard way.
Bruggs
I agree pricing is dramatically different depending on the series, and more importantly the date in question in that series. Nice Au-58's, especially better date, keys etc, can command significantly stronger prices than Ms-60 levels, and thats becuase in most cases the coins are so much nicer in overall quality than a low grade MS counterpart. Auction results, and a study of the particular coin and the quality of the coin is the best way to determine a market value. It is my opinion, as well as others that the true Au-58 coin has been one of the most underrated grades in all of numismatics, as has begun to awaken with avengence. I recently bidding on two PCGS Au-58 specimens (two different key coins in two highly collected series) and placed strong bids, and was blown slam out of the water. Both of the coins sold for well over Ms-60 money and damn near the 62's in the same sale.
As far as the 42/41-d, I can easily see it selling at just over Ms-60 sheet levels if nice and properly marketed?
michael
If 55 = $775 and 60=$1600 the difference is $825. 3/5 (or .60) of $825 = $495. $775 + $495 = "58" ---> $1270
I use this method as an analytical guide...Then I consider things like key-date, luster, great toning, being a hot coin series....etc.
Just one idiots thoughts
<< <i>The coin is correctly graded. Should never end up in a MS holder >>
And you've never seen an AU in an MS holder??
If it's corrrectly graded then you have no fear of it going lower.