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Is there a dwindling supply of PCGS graded AU58 coins?

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.

Comments

  • ziggy29ziggy29 Posts: 18,668 ✭✭✭
    Yes, as a collector of AU-58 type coins, I think so. Most of the good ones have been cracked out and resubmitted as 61 or 62.
  • BarndogBarndog Posts: 20,454 ✭✭✭✭✭
    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.
  • ziggy29ziggy29 Posts: 18,668 ✭✭✭


    << <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.
  • TorinoCobra71TorinoCobra71 Posts: 8,020 ✭✭✭
    Just Contact Mad Marty. He is the KING of PCGS AU58s !!!

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    TorinoCobra71

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  • CladiatorCladiator Posts: 17,918 ✭✭✭✭✭
    I got 4 of them image
  • rb345rb345 Posts: 64
    PCGS AU-58's may be becoming rarer, but if you dont mind settling for coins
    without full rims graded by ACG, you can always obtain all you want.
  • ajcajc Posts: 226
    In the gold series of $2.50 indians I am finding about 1 in every 10 are graded PCGS or less as compared to NGC. I use to buy the NGC gold coins but I no longer do that. The reason I ask the question is that I wanted to start a type set in au58. When I go looking, there is almost nothing to be had.
  • LucyBopLucyBop Posts: 14,004 ✭✭✭
    check with MadMarty, he submits AU58's all the time...
    imageBe Bop A Lula!!
    "Senorita HepKitty"
    "I want a real cool Kitty from Hepcat City, to stay in step with me" - Bill Carter
  • LucyBopLucyBop Posts: 14,004 ✭✭✭


    << <i>Just Contact Mad Marty. He is the KING of PCGS AU58s !!!

    image

    TorinoCobra71 >>



    doooooot...

    didnt see this post... we think alike...
    imageBe Bop A Lula!!
    "Senorita HepKitty"
    "I want a real cool Kitty from Hepcat City, to stay in step with me" - Bill Carter
  • BillJonesBillJones Posts: 33,427 ✭✭✭✭✭
    AU-58 has now gotten its own column on the Gray Sheet in a number of areas. That has made these coins easier to sell.

    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.
    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • MadMartyMadMarty Posts: 16,697 ✭✭✭
    What!!! Me, AU58s... I have no idea what you are talking about!!!


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    It is not exactly cheating, I prefer to consider it creative problem solving!!!

  • scherscher Posts: 924
    Thats cool Marty..
    Bruce Scher
  • mozinmozin Posts: 8,755 ✭✭✭
    No question PCGS AU58s are few and far between in the Bust series. I think a good share of them are purchased and submitted to NGC for the MS61 or MS62 grade. Prices realized are now pretty close for these holdered coins. Personally, I don't bid on the NGC MS61 and NGC MS62 Busties, too often they would only go AU55 with PCGS.
    I collect Capped Bust series by variety in PCGS AU/MS grades.
  • michaelmichael Posts: 9,524 ✭✭
    there are still some older holdered and also new holdered pcgs au-58 coins that are true choice to gem unc coins with rub out there or as i call them au-62+

    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
  • BearBear Posts: 18,954 ✭✭
    Dealers dont pay the price, I dont sell the coins.

    Simple as that.
    There once was a place called
    Camelotimage
  • orevilleoreville Posts: 11,771 ✭✭✭✭✭
    Here is a 1861 PCGS AU-58 $20 Liberty that is fully lustrous but simply has too much chatter to make it a mint state graded coin.

    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.

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    A Collectors Universe poster since 1997!
  • michaelmichael Posts: 9,524 ✭✭
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  • CoxeCoxe Posts: 11,139
    I have no problem finding them. It's what comes in that blue box from PCGS after I send them raw BU dollars.
    Select Rarities -- DMPLs and VAMs
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  • I have an AU58 1986 Jefferson nickel if you can believe that. Seem to come in droves at my house.... I could only hope for a MS60
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