In Praise of AU58; or “Warning Track Power”
124Spider
Posts: 857 ✭✭✭✭✭
I have always liked coin collecting, starting in the early 1960s as a little kid taking coins out of change. It was a good time to be doing so, since there still were all sorts of interesting coins in general circulation: Steel cents; silver nickels; buffalo nickels; Mercury dimes; standing Liberty quarters; walking Liberty half dollars (though the Whitman folder called them “Liberty Standing Half Dollars”), and Franklin half dollars (not to mention that all dimes, quarters and half dollars were silver). I never had money to buy coins, but it was enough fun to check change for a new slot filler.
Life got in the way for decades, once I was well into high school; then too many years of college, followed by jobs and raising kids.
After the kids were done with college (and we were done paying for college), there finally was time—and money—for collecting coins again. Getting interesting coins out of change no longer was realistic, but buying coins now was possible.
But on a budget, as generous as that budget has been.
And one result of being on a budget is that I’ve fallen in love with AU58 coins (especially AU58/CAC coins). A clean AU58 coin can be virtually indistinguishable from a mint state coin, and is often at least vaguely affordable even for many (not all!) better dates, whereas mint state copies of the better dates often are way out of my reach. “Warning track power” is an allusion to a baseball player hitting a long fly ball that doesn’t quite leave the park; not Ruthian power, but not bad.
And, yes, I do understand how privileged I am to be able to swim in the semi-deep end; I don’t at all feel sorry for myself for not being able to “compete” in the set registry game. Yes, it would be cool to be able to buy some coins I lust after but simply cannot justify buying; but I gaze in wonder at what I have, which would have astounded my 10-year old self. And I love seeing all those pretty AU58 coins when I look through my collection (my first certified AU58 coin purchase was scratching a life-long itch to own a 1909-S VDB Lincoln cent, and that coin still gives me a great big smile every time I look at it).
The end. 
Comments
Great post!
Silver was almost entirely taken out of circulation by the time I started to collect coins in the early 1970s, but I could still get brand-spanking-new looking Morgan (1881-S, 1885-O or 1921) and Peace (1922, 1923 or 1924) silver dollars for $5 to $10 a pop, and even though I haven't collected in that niche for decades, it still gives me a grin to see those coins at a show or in a shop raw and gleaming.
In honor of the memory of Cpl. Michael E. Thompson
There’s nothing wrong with warning track power. Sometimes you get a stand up triple out of it or an exciting slide onto second.
I’m sure there are examples but I don’t see a lot of ugly AU58s. The MS-except for-the-rub coins can bring a lot of bang for the buck.
Beautifully written post!
But this thread needs at least a couple of pictures. 58CAC is OP's favorite grade so if like to oblige:
Chopmarked Trade Dollar Registry Set --- US Gold Showcase --- World Gold Showcase --- World Chopmark Showcase
You’ll drool over the collection of @Mr_Spud - He’s the “D. L. Hansen” of AU58’s!
Here are two of mine (but high value):
Steve
My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
I've seen MS graded coins that squarely hit the foul pole on eye appeal. (clang)
A higher number doesn't always mean a better coin.
My PCGS Set Registry Profile
Agree a true, slightly rubbed, original MS64 & higher coin is a beauty to behold. Being used in circulation & having great aesthetics is best of both worlds. And sometimes at a bargain price. However to keep with the baseball theme, unfortunately the TPGs have brought the fences in and sometimes cheapened the definition of a true MS coin.
Hitting the foul pole is still a home run lol.
Professional Numismatist. "It's like God, Family, Country, except Sticker, Plastic, Coin."
58s rule 🌞
Mr_Spud
We're brothers from a different mother. With the exception of your college replaced with my military, your story is my story. I often wondered how to articulate my coin collecting history. You just did it for me. Thanks!
They were 58's. Not sure what they are today! 😂 🤣
Disclaimer: I'm not a dealer, trader, grader, investor or professional numismatist. I'm just a hobbyist. (To protect me but mostly you! 🤣 )
The majority of my collection, (300+) coins, are AU58, toned, best for the grade coins. I often think that many of these were pulled from circulation by a collector, album kept, and treasured for many years. I enjoy a uniquely toned AU58 coin more than any top-pop, 5 to 6-figure blast white coin.
Mint state, white coins are not interesting to me. Their story is one of lack of utility and commerce. They led and still lead a pampered, well-heeled life, while AU coins were once work horses that got things done AND were possibly collected and revered by generations before-hand.
Everyman collecting is quite meaningful to me and is thoroughly satisfying. Some people may consider collecting in AU novel; but I disagree. There is nothing novel about discovering an 80 year-old Wayte-Raymond toned album, completely full of mercury dimes (all circulated) with the best toning of a lifetime.
For me, the numismatic journey includes "used" material, and I hope to elevate the status of unique, one-of-a-kind, perfect AU gems that tell a story and are not just models or examples.
My favorite grade, here are some of my AU58 CAC liberty seated quarters.
I like the AU58 grade. They were more reasonably priced before PCGS came out with the everyman registry where AU58 was the top grade for the sets. I noticed a competitive increase in AU58 prices after that. Looking at some of these posts in this thread, I am sure I've bid up and lost many auctions to these guys.
Here’s most of my Circulated/Everyman Slabbed Type Coins that make up several different Registry sets here and across the street. I have several #2 ranked sets here and about 3 that are #1 ranked across the street. Most of them are 58s, all are circulated. I have some that I purchased in the last few years that are CAC, but many were purchased before CAC existed and have never been to CAC. I plan on continuing until I get 1 of each type minted. Strangely, the ones that are the hardest to find in AU58 are the moderns. I think it’s because they aren’t worth enough to justify slabbing the moderns on purpose and the only ones that end up as AU58 are peoples accidents.
Mr_Spud
I'd rather have a sharply struck AU-58 than a weaker struck MS-63
Pete
I’m also a fan of the grade. Here is one of my favorites:
What a nice post to read, signed off with The End and the smiley, made me smile.
I agree and can relate, thanks for sharing.
Perhaps when you can, share your 09-S VDB here?
There is some truly superb AU58 eye candy in this thread:
https://forums.collectors.com/discussion/1095452/lets-see-your-single-best-au58-graded-coin/
A few in my collection:
Nothing is as expensive as free money.
Another one of mine (NGC/CAC AU58):
Sometimes 58 isn't quite low enough to spare the ol' pocketbook
53:
55:
50:
Empty Nest Collection
Matt’s Mattes
Alas, you are correct!
The younger siblings of AU58--AU55 and AU53--often fill the bill just fine, as you showed. And I have lots of XF40 - AU50 coins (and even a number of VF coins) that please me, given my budget.
Of course, a nice, clean VG copy of that coin would thrill me no end!
Some pretty (literally) high-powered coins seen here! I've nothing so choice as the AU gold posted, but hope to at some point. Some minor AU stuff, I do have, just not on quite the level of all this eye candy!
My wallet only has warning track power so here some are:
.
Successful BST with BustDMs , Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino (CBH's - 35 Die Marriage's)
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
I usually go for a mint state, but AU coins can be very nice indeed!
A few of my favorites:
My YouTube Channel
I've been gone for a couple days (business travel) and just read this. What a great post ... thank you for sharing. We have similar stories and tastes in grade.
Some 58's
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242
I love the AU-58 grade as well. Here is one of my favorite coins.
I’m also fond of the AU58 grade…
Got AU58's?
@skamieniecki Great looking 1911 and 1912 $10 Indians. I would love to find ones like that.
Successful BST with BustDMs , Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino (CBH's - 35 Die Marriage's)
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
A couple of my favorite 58's!
My Gold Type Set
I’m including a couple 55s that could go 58 on the right day.
Type Collector of U.S. Pre-33 Gold https://instagram.com/deplorable_dan Successful transactions with- @drfish, @Cladiator, @johnny010, @Pedzola, @PerryHall, @2windy2fish, @Ike1964, @JohnThePainter, @rpmsrpms, @REALGATOR
58CAC
End Systemic Elitism - It Takes All Of Us
OP here; this is another of mine (PCGS/CAC AU58)
AU58 is my goal in 19th Century Type coins in my 7070.
1872-S H10C FS-302 PCGS AU58 Gold CAC.
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...
All w/CAC
One of mine…
Outstanding coin!! @Herb_T
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242
AU58
Outstanding 1817 @Herb_T
Successful BST with BustDMs , Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino (CBH's - 35 Die Marriage's)
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
Might as well put it here as well! 😫 😢
Disclaimer: I'm not a dealer, trader, grader, investor or professional numismatist. I'm just a hobbyist. (To protect me but mostly you! 🤣 )
In my grading class sponsored by the ANA, I teach that a true AU 58 has better eye appeal than an MS-60 or 61 and many MS-62's. They are generally less expensive and bring great bang for the buck. There is also the idea that the 58 coin was initially used for its intended purpose and is therefor a part of history.
About 25 years ago, Bill Fivaz wrote an article called "AU-58 the Grade of the Future." If you can get a copy, it is a great read.
OK….another one…
After seeing this thread, I might just ditch lower uncirculated coins forever. I would take a AU-58 over a MS-61 any day. Amazing coins everyone!
Type collector, mainly into Seated. Young Numismatist. Good BST transactions with: mirabela, OKCC, MICHAELDIXON
Frankly, Everyman collectors have turned AU58 into one of the worst grades for purchasing coins. I avoid the grade now.
Bill Fivaz didn't have to contend with price-wrecking Everyman collectors.
@Barberian. True, the problem is finding a true AU58. One or the worse slabbed coins is an MS61 with slightly more then a little wear that is graded AU58. Wonder how many AU58's get rejected when trying for a CAC sticker vs receiving one. If it doesn't look MS at first glance, or wasn't an original MS63 or higher, it shouldn't be an AU58. Finding one is a treasure.
WOW!!
A great post and some AMAZING coins posted so far!!!!!!!!!
And more competition = higher prices.
I agree that the everyman registry increased the AU58 prices by far. It was my favorite grade because I could afford it and they can look UNC for a fraction of the price. I don't find many AU58 deals anymore.
I do see some AU58 coins absurdly priced (equivalent to MS63 coins); this may be a result of what you mention.
But, mostly, I still find that I can get a nice, clean AU58 for a price significantly below any mint state copy.