More AU58+ lunacy
dbldie55
Posts: 7,739 ✭✭✭✭✭
Last night, the Heritage weekly sale had a 1916-S buffalo in AU58+. When the online portion of the bidding ended, it was at $180.
It closed at $1,200 ($1,410 with the juice). While I know price guides are not always accurate, but that places it between MS64 and MS65 values.
I see it in a set of AU-58+ only coins (set has only 3, but I guess it is a long term goal).
Plus, it takes 2 to tango, so at least one other was interested.
Collector and Researcher of Liberty Head Nickels. ANA LM-6053
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Everyman sets
https://www.pcgs.com/setregistry/alltimeset/133461
That is one collector desease I don't want to catch.
you're collecting something beyond a coin there...when that happens, the price guide is of little value.
This is similar to the prices going up when the grade is slipping below G4 levels. Collecting coins just before they are "undated". 58+ is "semi" un-circulated?
I'm getting an X for pictures. Anyone else?
I don't see any post with images, grip. Unless you're talking about dbldie55's signature pix.
Lance.
Gotta love (or hate) the registries
Many true AU coins are far nicer looking than the so-called MS60-MS63 stuff. Maybe the buyer felt the coin was of such exceptional character that it warranted a very high price compared to on-line valuations?
Yes, dbldie55 ?
There are many choice AUs that I'd rather own over lower end UNC stuff. Perhaps give them the benefit of the doubt and assume they're buying the coin and not the holder?
IG: DeCourcyCoinsEbay: neilrobertson
"Numismatic categorizations, if left unconstrained, will increase spontaneously over time." -me
Many nice, true AU coins are now AU62-AU63 due to market grading.
I'm wondering if AU59 will ever be added as a grade for everyman sets.
Robert Shipee's book breaks down the best performance at resale for his type set. AU58 was the best performing grade
https://www.pcgs.com/setregistry/alltimeset/133461
I saw it but did not like it.
Not that I agree with the hammer price (and I have not seen the coin), but maybe there is something to be said about seeking the best for the grade and paying a premium for a coin that just may not exist in quantity at a certain grade... I dunno
Experience the World through Numismatics...it's more than you can imagine.
Yeah, I saw that buffalo go stupid last night too. I just figured that somebody(s) know more than I do. Got into a bit of a bidding spat over a proof Franklin there, but prevailed at about 2X the end of the online bidding price.
The + is worth about 1k? Amazing.
Why can't I get the coveted "+"? I got a bunch of 58s though recently on a few pieces I thought would go MS. That's the way the cookie crumbles....
58+ must now be a magic grade that instantly transforms a coin into something much better.
12 potential grades of AU (50, 53, 55, 58, plus PLUSes), ...Really!
Edit: Brain Freeze; 8 now the ++ not yet available.
Should I be re-submitting my 2 AU 58 CAC quarters in for hoping to get a +? That's insane.
Successful transactions with: wondercoin, Tetromibi, PerryHall, PlatinumDuck, JohnMaben/Pegasus Coin & Jewelry, CoinFlip, and coinlieutenant.
Plus grading is accomplishing what our hosts had in mind. Great revenue generator. You have to give them credit. Lots of people chasing the plus grades. Our hosts win with every submission. A 09-P half in 58+ recently sold for about 6 times retail. Still not in anyone's registry set. There was a lengthy thread on it at the time. Maybe the owner doesn't want to admit they are in that deep into the coin????
Still the best advice, buy the coin not the holder. JMHO
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Think of the worst case....that they upgrade them to MS61's.
And imagine the best possible of "AU58+ gold CAC." Nirvana.
I recall the discussion of the 1909 Barber half dollar PCGS AU58+; if I recall correctly, it sold for more than the following coin that I purchased at about the same time-
In honor of the memory of Cpl. Michael E. Thompson
I was just going to say the same; I bought a 1916 S well struck and beautiful toning in MS64 for 1/4 the price. I would challenge this coin to top it.
Well, just Love coins, period.
Totally INSANE!!!!
Maybe a way to increase submissions?
Is there a way to tell PCGS that you would only want them regraded if they got AU 58+? I don't really submit coins so I have no idea.
Successful transactions with: wondercoin, Tetromibi, PerryHall, PlatinumDuck, JohnMaben/Pegasus Coin & Jewelry, CoinFlip, and coinlieutenant.
The best way to do this would be to submit a PCGS graded coin in its current holder under the Reconsideration tier and select "Upgrade by Plus Only". In that way your coin may stay at AU58 or might go to AU58+, but it is my understanding that it will not be bumped up to an MS grade.
In honor of the memory of Cpl. Michael E. Thompson
Ahhh interesting. If it does not upgrade to a +, kept at AU 58, is it reholdered and I lose the CAC stickers?
Successful transactions with: wondercoin, Tetromibi, PerryHall, PlatinumDuck, JohnMaben/Pegasus Coin & Jewelry, CoinFlip, and coinlieutenant.
The Reconsideration tier is done with the coin in the PCGS holder. Therefore, if it has a CAC sticker on the holder, and the coin does not receive the + designation, then the sticker will still be there when the coin is returned to you in its original holder.
In honor of the memory of Cpl. Michael E. Thompson
great for the seller
Seems we have another grade phenomena... the 58+ has been steadily gaining in popularity... as such, premium pricing follows. This is not something I care to pursue, since it will likely die out sometime in the future. Cheers, RickO
I'm just curious how submitters figure all the costs connected to various coins, between submitting, re-submitting, shipping, insurance, etc. the hidden costs could be quite substantial.
The house always wins. Somebody is happy.