Do you guys see the population of Au58+ coins growing or will they always be highy coveted ??
learningcoins
Posts: 73 ✭✭
Just curious as to your thoughts on this. Are they worth the premiums or will the value drop as the pops go up and up?
0
Comments
For the vast majority of coins, I don't think an AU58+ is worth a premium when compared to an AU58. This is a relatively new grade level, awarded for only the last several years, and many coins in current AU58 holders (as well as MS61/62 holders) might qualify for this grade. In my opinion, the registry is having an outsized effect on prices for this grade range.
In honor of the memory of Cpl. Michael E. Thompson
Of course they'll make more. It's the nature of grading.
AU58+ coins can also be "made" from higher graded coins, if the financial incentive exists.
And "that's the rub" of paying a premium for this grade over what the coin costs in low MS grades.
Liberty: Parent of Science & Industry
do you think people actually take unc coins and make them au in order to better the value? It would appear, at least according to the pops, that the success rate is not very good.
They don't have to "make" them AU.....they are already AU in many cases, especially with mid-19th century and earlier coins. The success rate going up (ie making AU58's into MS61/62) was pretty good from 1998-2008. There's no reason to believe a lot of that couldn't be "undone" with multiple submissions.
The "+" grades are just another attempt to milk coins for every last cent of return. Coin collectors are very "profit" oriented and seem to respond well to anything that will raise the value of their "treasures".
Of course the population of all plus graded coins will keep going up... lots of coins coming in for grading, and if they are crackouts coming in (as is the case with the plus graded coins sometimes), they usually don't send in the labels to correct the population reports. I have had a few AU58+ coins and they have all sold for a pretty good premium over AU58. But in all cases, they were really nice coins that had the appeal of MS63/64 coins and would have sold for more than the average AU58 coin anyways had they not had the plus grade.
Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 448
Just another niche fad, profiteers will exploit it until it fades....Cheers, RickO
It's a strange day when wear is better than no wear.
I would agree on the 58/62 coins, sometimes it is all based upon lighting of the grader(s).
BST transactions: dbldie55, jayPem, 78saen, UltraHighRelief, nibanny, liefgold, FallGuy, lkeigwin, mbogoman, Sandman70gt, keets, joeykoins, ianrussell (@GC), EagleEye, ThePennyLady, GRANDAM, Ilikecolor, Gluggo, okiedude, Voyageur, LJenkins11, fastfreddie, ms70, pursuitofliberty, ZoidMeister,Coin Finder, GotTheBug, edwardjulio, Coinnmore, Nickpatton, Namvet69,...
Maybe they'll come from cracked out and resubmitted MS61s ???
Given enough promo, maybe even 64's!
It's all about money, isn't it?
Totally agree and it will fuel the 'everyman' sets.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
There are 58+ coins and then there are 58+ coins. Some 58+ coins are very nice and some are butt ugly. The nice ones will bring good money. By the way I crossed an NGC-61 to PCGS-58 several years ago. That was what I wanted.
Not sure why the negative comments. There are many nice AU coins that have nicer eye appeal and would rather own than an MS60, 61 or 62. A coin can go from MS65 to AU58 by essential being pushed across a wooden table. For a coin to go from MS65 to MS60, it practically has to be run over by a truck.
I for one appreciate the "Everymans" concept. It has done a lot of good for collecting by increasing inclusion of collectors in the registry concept that do not have the means to shoot for Top/Pop sets. As a dealer, it has changed me in the way that I take the time to look for and acquire nice AU58 examples (Mishandled Choice and GEM Coins).
There is a lot to be said for this segment of collecting.
I too wonder if the Everyman's Sets will continue or not. I too have purchased many MS 61/ 62 coins in 3PG holders (including PCGS), cracked them out, and received a 58 grade (as desired). Currently those coins are worth more to me (and in the market) as AU 58's than the dead 61/62 grades that nobody seems to want.
Will this last? I hope so.......
I personally believe about any coin prior to 1930 give or take will hold their value in + grades. The outlier to this in my opinion are Morgan Dollars. That is where you will see the Pops of + grades go up considerably. Bust,Seated,and Barber coins are very difficult to make + grades and sell for considerably more than their 58 brothers and sisters!
I don't see much of a market for Morgans in AU58+ as a whole series. Obviously, there are several key dates where the jump from AU to MS is huge and those AU58+ coins will be in very high demand (84-S, 92-S, 01 etc). As a series, though it makes no sense to try to get all of them in 58 or 58+ because some of those coins are 5 figures but around 40% of them are worth $25 (where a 63-65 could be purchased for $300 or less).
Here is an example where no one would consider "making" an AU58+ from a higher grade coin. The 1854-O $2.50 is common through AU58. PCGS has graded 26 in mint state (MS60-MS64).
Average pricing runs as follows:
AU58 $750
MS61 $2,000
MS62 $4,000
MS63 $8,000
My 1854-O example is currently the only AU58+ , surely others will follow. Considering the steep increase in price to pick up a mint state example, I am satisfied there is a market for similar AU58+ coins.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163