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Can an AU58 coin be undergraded?

ShamikaShamika Posts: 18,785 ✭✭✭✭
in U.S. Coin Forum
So? Can it?

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  • commoncents05commoncents05 Posts: 10,096 ✭✭✭
    Sure, why not?

    -Paul
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  • TwoSides2aCoinTwoSides2aCoin Posts: 44,571 ✭✭✭✭✭
    Ownership adds four points in my book image

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  • BaseballAbsBaseballAbs Posts: 2,621 ✭
    I would say usually not, there are reasons it not being in MS holder. I guess it's possible, OGH? I have heard people mention the grade is a bit stiffer now days to get from PCGS.

    There have been a few discussions on the forum about the AU58 grade the last little while.

    Edit, Do you have one under graded for sale?

    image
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  • lasvegasteddylasvegasteddy Posts: 10,432 ✭✭✭
    many have i figuire

    mistaken brush against coins in a bag for circulation or rub

    yup...happens all the time i figuire is the crowd i'm in...image
    everything in life is but merely on loan to us by our appreciation....lose your appreciation and see


  • coinkatcoinkat Posts: 23,816 ✭✭✭✭✭
    yes

    Experience the World through Numismatics...it's more than you can imagine.

  • Walkerguy21DWalkerguy21D Posts: 11,679 ✭✭✭✭✭
    I have an 18P walker I bought raw, years ago, from Coins of Merit (or Merrit, or Merritt) - they set up at many major and mid sized shows.
    I bought it as a low grade Unc - no wear, some light marks and chatter, luster muted from a dipping or two but Ok, figuring it as an MS61 or 62. When submitted to NGC a few years later, they slabbed it AU58. I still believe it is a mint state coin, so in my mind, it is undergraded.
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  • MilkmanDanMilkmanDan Posts: 3,761 ✭✭✭✭✭
    I often wonder why there aren't more AU58+ coins, those coins that show rub but are so clean and have eye appeal that they deserve more than just a 58 grade.
  • illini420illini420 Posts: 11,466 ✭✭✭✭✭
    CAC sure thinks so. I've had a couple of them gold sticker before.


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  • crazyhounddogcrazyhounddog Posts: 14,055 ✭✭✭✭✭
    Yep, it happens all the time. I look for such coins...Joe
    The bitterness of "Poor Quality" is remembered long after the sweetness of low price is forgotten.
  • ElcontadorElcontador Posts: 7,680 ✭✭✭✭✭
    A properly graded AU 58 coin is a circulated coin, so the answer is no. All bets are off when it comes to market grading, market acceptability, etc.
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  • jomjom Posts: 3,484 ✭✭✭✭✭
    Undergraded. Yeah, it could be an MS63, right?

    Remember, you didn't say what the coin was.

    If you implied that the coin, going in, was actually circulated then I agree with Elcontador, no it can't be...not really. However, the PRICE of the coin could be equivalent to a MS level.

    As far as I'm concerned the PRICE is really is what is important....

    jom
  • SonorandesertratSonorandesertrat Posts: 5,695 ✭✭✭✭✭


    << <i>A properly graded AU 58 coin is a circulated coin, so the answer is no. All bets are off when it comes to market grading, market acceptability, etc. >>


    image
    Sometimes, AU58 is actually a silent net grade, given to a technically uncirculated coin, to bring its value in line with the grader's perception of what it's worth in the marketplace.
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  • roadrunnerroadrunner Posts: 28,313 ✭✭✭✭✭
    I recall seeing an ANACS paper certed turban head $5 gold as XF40. It was a full luster coin with a tiny planchet/lamination on the cheek. If was no different than if that
    lamination were a slight graze/scratch. The coin ended up grading PCGS MS62, which is what it was imo. Any coin can be undergraded.

    The fact is that any AU58 that is "properly graded" can NEVER become something higher....by definition.....at least not without being improperly graded.

    But we all know that one single grading event is probably not indicative of a coin's true grade. And the current coin market is predicated on grading variability. Without
    it a large % of dealers would go out of business.

    I've seen a lot of decent AU58 bust coins..........but in MS61 to 63 holders.....image
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • SeattleSlammerSeattleSlammer Posts: 10,048 ✭✭✭✭✭
    I've asked myself the same question. If a 58 means just the slightest amount of rub, how can a coin grade 58+ ?????

  • MidLifeCrisisMidLifeCrisis Posts: 10,550 ✭✭✭✭✭
    Grading is much more an art than it is a science.

    AU58 and the other grades that have become accepted in the hobby are our attempt to apply strict, objective standards to something that is very subjective.

    You can take this statement - "A properly graded AU 58 coin is a circulated coin..." - to the extreme and say that any coin that has spent ANY time in circulation, or even any coin that has left the mint is now a circulated coin and can be no higher than AU58.

    There are no absolutes. And besides all that, graders sometimes make mistakes.

    Relax. image
  • BroadstruckBroadstruck Posts: 30,497 ✭✭✭✭✭
    A year or two ago I showed this AU58 to 7 top dealers at a major show 1 was an ex grader...

    None felt this ever spent a moment in anybody's pocket.

    image
    To Err Is Human.... To Collect Err's Is Just Too Much Darn Tootin Fun!
  • keyman64keyman64 Posts: 15,530 ✭✭✭✭✭
    Sure, why not? It could be an AU58+ or AU59 in a lot of minds.
    "If it's not fun, it's not worth it." - KeyMan64
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  • ShamikaShamika Posts: 18,785 ✭✭✭✭


    << <i>I've seen a lot of decent AU58 bust coins..........but in MS61 to 63 holders.....image >>



    I have no doubt many AU58 coins can be OVER graded.

    Buyer and seller of vintage coin boards!
  • LindeDadLindeDad Posts: 18,766 ✭✭✭✭✭
    <--

    I'm still looking for the rub on my Avatar coin.

    image
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  • ShortgapbobShortgapbob Posts: 2,332 ✭✭✭
    I know of a single Missouri 2x4 that graded AU-58, MS-63, MS-64 and MS-65.
    "It is the mark of an educated mind to be able to entertain a thought without accepting it." -- Aristotle

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  • PerryHallPerryHall Posts: 46,814 ✭✭✭✭✭


    << <i>I know of a single Missouri 2x4 that graded AU-58, MS-63, MS-64 and MS-65. >>



    Bingo! I've seen AU58 coins get resubmitted and get an MS grade the second time around. MS70 and PF70 are the only grades that can't be undergraded.

    Worry is the interest you pay on a debt you may not owe.
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  • rec78rec78 Posts: 5,861 ✭✭✭✭✭


    << <i>

    << <i> MS70 and PF70 are the only grades that can't be undergraded. >>

    image

    Any coin can be undergraded or overgraded for that matter.

    image
  • PerryHallPerryHall Posts: 46,814 ✭✭✭✭✭


    << <i>

    << <i>

    << <i> MS70 and PF70 are the only grades that can't be undergraded. >>

    image

    Any coin can be undergraded (with the exception of MS70/PF70) or overgraded for that matter. >>



    Fixed it for you.image

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • ShamikaShamika Posts: 18,785 ✭✭✭✭


    << <i>I know of a single Missouri 2x4 that graded AU-58, MS-63, MS-64 and MS-65. >>



    Sounds like a case of a coin being undergraded (plus a little grade inflation).

    Buyer and seller of vintage coin boards!
  • ShortgapbobShortgapbob Posts: 2,332 ✭✭✭


    << <i>

    << <i>I know of a single Missouri 2x4 that graded AU-58, MS-63, MS-64 and MS-65. >>



    Sounds like a case of a coin being undergraded (plus a little grade inflation). >>



    I would add that this was all during a 6 month span. I would say that Missouri Commems are one of the most difficult coins to grade. The due to the design, it can be very difficult to distinguish between a touch of striking softness/cabinet friction/rub.
    "It is the mark of an educated mind to be able to entertain a thought without accepting it." -- Aristotle

    For a large selection of U.S. Coins & Currency, visit The Reeded Edge's online webstore at the link below.

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