Is it true about A.U. designated coins....

razorface1027

That most long time dealers believe that they were once cleaned (ie: dipped, thumped or using a pencil eraser)? Would this opinion/belief, whatever you choose to call it, be methodical in applcation, and overlooked, when the top tier graders are grading and slabbing A.U. designated coins?


Tom

DaveG

In a word: No.

It's very, very hard to make a generalization about the entire spectrum of US coins.

First of all, dipping is very different from abrasive cleaning (such as with a pencil eraser). And, good graders are very good at spotting things that might have been done to a coin (they should be, they get enough practice).

Second of all, what might have happened to a Morgan dollar is very different from what might have happened to a Bust half or a half eagle.

It is true, however, that many silver coins (both Unc and circulated) have been dipped (and slabbed by PCGS and NGC). Whether you think that's a bad thing depends on the coin in question and you.

BigD5

Ditto what Dave G posted.

The services do a decent job of filtering out the coins with the major cleaning problems. Sure, you can find some fugly ducklings out there every once in a while, but for the most part au coins are decent coins with a light amount of rub.

kieferscoins

Not at all. I have never heard a dealer say that before and if he passes up AU coins because he thinks like that he is missing a lot of great coins! AU coins can have rub, slight friction, etc and excellent luster but will never be MS because of the rub.

Cameron Kiefer

morgannut2

The AU grade has absolutely nothing to do with cleaning, although I had a dealer try to tell me that Bull$%t once when he sent a cleaned coin to me. NGC explictly grades coins without attention to whether they've been dipped---as long as the luster isn't seriously impaired.

DRG

An AU coin is just that, it is a coin that has seen a little circulation and has just a little rub/wear.

What is often overlooked about AU coins is this;

Most coins can not make the MS65 grade when they leave the mint, that is they may have weak strikes or multiple contact marks before they see any circulation. There is however no current system to take this into account when grading AU coins. A prior MS67 coin with a little wear on the high points is a AU58 and a prior MS61 with a lousy strike and multple hits with the same light rub is also AU58. The coins look nothing alike!

Taking Buffalo nickels as an example there is a world a differnece between some AU coins. Personally I would rather own a prior MS65-67 with a little rub than many of the MS61-63 coins. For those that know the series, many of the MS61-63 coins are real dogs. They may be poorly struck with lousy details, mushy lettering and incomplete horns. While a really nice AU coin may have a perfect strike, not a single hit, a perfect horn with better all around detail and can be found for less money.

At least for Buffalo's I think a really nice AU set is THE WAY TO GO for overall value.