AU58 Bust Halves - Okay, what’s the deal?
Artist
Posts: 2,013 ✭✭✭
Years ago my father gave me a raw bust half he bought in the 1980s — a lovely, white example with some peripheral toning. If it were a Morgan, I’d say it had a shot at MS65! When I sent it to our hosts for an evaluation, they felt it was an AU58. I did not care too much, since I never planned to sell the coin. But alas, through no choice of my own, it left my life, and now I would like to replace it with one that is comparable. I have never tried to buy one of these coins before, and the more I look at, the more I realize that I really do not understand them.
I know that many bust halves lived in bank vaults and did not really circulate, hence many high grade examples abound. But here is where things get confusing for me.
My coin was an AU58 presumably because despite its UNC looks, the highest points of the coin (Ms. Liberty’s curls, eagle’s brow, eagle’s talon) exhibited technical wear. Fair enough. Except the more of these I study, the more I am seeing that these coins were prone to striking problems, and that on many high grade UNC examples, these same areas never fully struck up, and so they look the same as they do on 58s. Is there a way to distinguish rubbing on a stuck coin, from rubbing on a planchet that remains visible where it failed to fill and conform to the die? Since a rub on silver is a rub on silver, whether it occurred after striking or before, this seems impossible to me. Any insights to this conundrum would be welcome.
On the subject of AU58, at least for the year I am interested in tracking down, there is a HUGE spread on prices! From $600 to $1,300 for the same date, same TPG, same grade! Looking at the coins themselves, I see why they cost differently. On the low end, stuff either looks dipped and lifeless, or dark and muddy, and / or more softly detailed, while on the high end, coins have what appear to be original surfaces, sharp strikes, and some degree of arbitrary eye appeal. Within the market for bust halves, is it just known that not all AU58s are created equal, hence the wildly varying prices? Are the higher prices for better coins owed to the possibility that some grade-limiting high point rub might actually be higher-grade allowing planchet rub where the devices were not fully struck? Do premiums for better AU58s exist when attempting to sell these coins too, or only when buying? LOL
Lastly, lets talk about surfaces. My coin was white, but not perfectly white, and it cartwheeled like crazy! I actually pulled the trigger on a bust half 2 weeks ago because in photos it looked like mine, but in hand, it was washed out and looked like it had maybe been left in the dip a little too long, so I decided to return it. Among the bust half cognoscenti, what constitutes original surfaces? Did some coins survive to retain their white surfaces, or is any whiteness evidence that a coin has been messed with? What kind of toning is associated with originality? What do people of think of high grade bust halves that just look totally dark?
Any answers — or better yet, additional insights — would be most welcome!
Comments
Love em
Interesting read. I can relate to much of it.
But your questions are too broad and too many. Maybe if you boiled things down for those of us who best understand simple questions?
Lance.
Hmmm... lets try this:
1.) How can you tell if dull high-points are wear or a matter of soft strike?
2.) Is big price spreads within a single date / grade / TPG par for the course with this series?
3.) For those who truly specialize in this series, what are the most desirable surface characteristics?
>>>My Collection
When it comes to the wide price difference:
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
1.) How can you tell if dull high-points are wear or a matter of soft strike?
Also, a soft strike will affect most of the devices where wear will only affect the high points.
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
Good questions .... and a great series. I believe the answers above are accurate and should help you. If you go to a large show, there are usually many, many of these available. You could easily spend the majority of a day reviewing the offerings - and likely find the one that makes you happy. Cheers, RickO