Question about coin grading

namwalker

Right now I'm a little bit confused about coin ranking namely the TPG using the terms of XF, AU, and MS and then trying to fit the term of BU into that ranking system. The reason that I'm asking is that I purchased some coins that the LCS said was BU. In my own estimation a coin that is called BU should fall somewhere between AU and MS.

So is my estimation accurate or do I need to learn more? Would be surprised if I had to go back to school.

TomB

BU is brilliant uncirculated and is a term that has not been used as much in the last 25-years as it had previously. A BU coin will be fully uncirculated, but most folks would require a coin to have little, if any, toning on it to call it BU. Prior to the widespread usage of the MS grades, BU was used to refer to all MS60-MS70 coins.

morgandollar1878

IMO it is a marketing ploy, and reminds me of the TV dealers that use the term to sell overpriced crap. Brilliant Uncirculated "BU"really is just another term for Mint State "MS".

RedTiger

You need to learn more. BU is for grades MS60 to MS70 (ms stands for mint state). Though what some sellers call BU may be closer to AU50 or AU55 (almost uncirculated). Slimy sellers might use BU to describe cleaned or whizzed AU or XF coins.

Grading isn't all that complicated. However, learning to grade typically takes time and effort. It takes the average person several years of looking at lots of coins to become proficient.

Moldnut

Unfortunately Ive heard it used as "Borderline Uncirculated" too. Dont be fooled by the TV sales person.

MsMorrisine

<< <i>Right now I'm a little bit confused about coin ranking namely the TPG using the terms of XF, AU, and MS and then trying to fit the term of BU into that ranking system. The reason that I'm asking is that I purchased some coins that the LCS said was BU. In my own estimation a coin that is called BU should fall somewhere between AU and MS.

So is my estimation accurate or do I need to learn more? Would be surprised if I had to go back to school. >>




LCS?

Who is LCS?

BU - the U in BU is Uncirculated.

as mentioned already is was more used before the advent of the MS60-MS70 grades. So, it is a nice generic term for uncirculated coins. Today it is used by 1) people who are too cheap to get a real numerical grade &/or 2) people who want to sell low end coins with a high-end sounding name (BU)

Either way, 1 or 2, you need to know what you are looking at. high end coin called BU or a low end coin called BU??? you'll not want the low end ones called BU, trust me.

COALPORTER

Really, BU is somewhere around MS63-64, BU is still better than just UNC., UNC would be MS60-62 range and GEM BU is MS65.

MsMorrisine

<< <i>Unfortunately Ive heard it used as "Borderline Uncirculated" too. Dont be fooled by the TV sales person. >>



all I've got to say about that is a rule 7 violation.

Moldnut

<< <i>

<< <i>Unfortunately Ive heard it used as "Borderline Uncirculated" too. Dont be fooled by the TV sales person. >>



all I've got to say about that is a rule 7 violation. >>



how do you figure?

WinPitcher

<< <i>Really, BU is somewhere around MS63-64, BU is still better than just UNC., UNC would be MS60-62 range and GEM BU is MS65. >>



Cole I remember it in a slightly different way.



I remember these grades in the 80's

Au/Bu 55

Bu 60 (had to be brilliant) UNC if not

Select Bu 63

Choice Bu 64

Gem BU 65

And of course a + designation if it was higher, usually when buying.


Steve

namwalker

The coins that I had purchased I have since found out are common date Morgans whose date according to one source is commonly graded high when in good condition but whose resale value makes it difficult to make a profit. This afternoon I have spent a lot of time on another forum going over a thread about grading morgans and what to look for when making a purchase. I wish I had completed reading that thread before I walked into the lcs. After reading the thread (which I plan on rereading a few more times because I like Morgans) I don't feel that I was hurt in my purchase. Even at a MS61 grade I am ahead of the game at this point of time. From what I can make out these coins are somewhere in the MS 61 to 63 grade now. But I know that the date and mint of these coins are common so a lot there are some factors that could change what I think

I plan on taking them to another coin shop to see if they concur (and at the same time make a purchase). So Monday I should know if I made a good deal or got stuck.

BAJJERFAN

<< <i> Though what some sellers call BU may be closer to AU50 or AU55 (almost uncirculated). Slimy sellers might use BU to describe cleaned or whizzed AU or XF coins. >>



aka bilking u

kranky

What is LCS?

ModCrewman

I found this "book" online that was helpful to me in understanding the key points of grading. You'll like it because they use Morgans as the primary exhibits.

How to Grade US Coins - by Scott Travers

JRocco

In my day back in NYC

BU = 60 (Brilliant Uncirculated)
CHBU = 63 (Choice BU)
GBU = 65 ( Gem BU)
Superb GBU = 67 (Modern crap was often seen SGBU)

Every so often you would hear something like Superb CHBU or a 64, but most coins were 60, 63 or 65 and 95% of all coins were not toned or I should say only marginally toned. I remember being told by a few dealers things like, "Well its a nice CHBU but it is heavily toned, so do you still want to look at it ?"