Is there a dwindling supply of PCGS graded AU58 coins?
ajc
Posts: 226
I am finding it harder and harder to find coins graded AU58 by PCGS. A quick search on the David Lawrence website shows there are not many as compared to ANACS and NGC. In addition, in gold series, I am finding almost exclusively coins graded by NGC. A quick search on www.brokencc.com in the $2.50 category shows almost no PCGS coins at all.
0
Comments
<< <i>When I get one (either a bust half dime for my set or a suitable coin for my Dansco 7070) I crack it, so I must be a contributor to this perception. I'm sure, however, that PCGS will "create" more. >>
I'm sure they will.
The problem is that the increase in "market grading" has dumbed down the AU-58 grade to the point where it is what AU-55s used to be. Unless you're talking about a coin which is a condition rarity in mint state, almost any coin that looks like the "traditional" definition of AU-58 -- a choice to gem BU coin with a slight trace or wear or rub -- will be market graded in the 61-63 range.
Hence, most of the true 58s are either just now being slabbed as 61s and 62s, or are cracked out and resubmitted to get the 61 or 62 grade.
With respect to PCGS gold, there isn't much AU-58 gold out there, except for condition rarities that PCGS is afraid to eat. NGC has a LOT of AU-58 gold out there, but most of it is overgraded.
TorinoCobra71
without full rims graded by ACG, you can always obtain all you want.
"Senorita HepKitty"
"I want a real cool Kitty from Hepcat City, to stay in step with me" - Bill Carter
<< <i>Just Contact Mad Marty. He is the KING of PCGS AU58s !!!
TorinoCobra71 >>
doooooot...
didnt see this post... we think alike...
"Senorita HepKitty"
"I want a real cool Kitty from Hepcat City, to stay in step with me" - Bill Carter
And as others have said, "grade-flation" has moved some of the best AU-58 coins from that grade to MS-61 or 62 when they bring a lot more money in many cases. "Grade-flation" has also watered down the AU grades. Today it's getting harder and harder to find decent early gold gold coins (1795 to the Classic Head $2.50 and $5.00 gold coins) in AU holers. Many of them are marked up, have had their surfaces stripped or are flat out over graded.
Bruce Scher
but they are the gold no the platinum no the diamond standard these pcgs coins
but they are few and far between as they get broken put and eventually upgraded mostly to ngc some to pcgs as lower end unc coins
those that are left are scarcer than hens teeth but most all dealers will not even pay greysheet ms60 money for them and in my minds eye if they meet the michael approval then they are worth as much as ms 62 coins with rub or MORE THAN ugly with rub ms 61 62 63 coins and definately worth the same as true unc ms 60 61 62 coins but badly hairlined and/or heavily marked up coins
but the market with these plastic holders does not dictate this as to what the dealers will pay for these coins
quite the condndrum
Simple as that.
Camelot
I picked it up at the ANR Drew St John sale in June 2005. The price has not risen much on these earlier dated AU Liberties since a year ago compared to the lower grades which forced them into "hiding" for the moment. This should explain why so few earlier dated Libs are currently around. It simply does not pay to sell them right now.
NSDR - Life Member
SSDC - Life Member
ANA - Pay As I Go Member
To support LordM's European Trip, click here!