How should AU58 coins be priced?
291fifth
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Your thoughts?
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291fifth
Posts: 24,687 ✭✭✭✭✭
Comments
edit to add. whatever amount the dealer and the sheets he/she uses tell me to pay.
AU58's are the MS70's of circs
There are many many factors of pricing AU58 coins, as with higher end MS coins. I think they should be very close to 60 money for many date/mm's, since they are essentially a wisp away from MS63/64.
Too many positive BST transactions with too many members to list.
<< <i>There are many many factors of pricing AU58 coins, as with higher end MS coins. I think they should be very close to 60 money for many date/mm's, since they are essentially a wisp away from MS63/64. >>
I agree with this statement in general...however, AU58 grades can really illustrate how much grading is a subjective art rather than a science.
I personally really like the AU58 grade and I compare it to the MS64 grade. In both cases you can find some exceptional coins that represent real value for the money.
<< <i>AU58 grades can really illustrate how much grading is a subjective art rather than a science. >>
Especially when they become AU62 and then MS62
Recipient of the coveted "You Suck" award, April 2009 for cherrypicking a 1833 CBHD LM-5, and April 2022 for a 1835 LM-12, and again in Aug 2012 for picking off a 1952 FS-902.
Coins are worth what someone is willing to pay... unless there are two or more who disagree, then they can go to the moon for their price guide
``https://ebay.us/m/KxolR5
My favorite AU58 buys? $10 Gold indians, the rub is almost impossible to detect, the luster is often there in spades, and sometimes they look as good or better than their MS cousins. Another favorite are Bust halves. I have only found one truly spectacular AU58, but I am still looking for more.
Tyler
As would be expected one is very average au58, and the other looks to be ms 63 or 64 with full lustre and barely discernable rub on the highest points.
I paid way more for one than the other but both are worthy of the price paid and the price asked. Dave W
David J Weygant Rare Coins website: www.djwcoin.com
are basically AU50-53s. they look like crap currently. only strong luster
remaining by the stars and other protected areas. beat to heck and back
and ussually have noticeable marks.
the days of AU58s being a sweet spot for lib half eagles are gone.
my two cents. terrible buys in most cases.
I expect a half eagle to look like this and still only be AU55. A 58 should be noticeably better in the luster category.
Here is a 53, showing how the luster wears away a bit more. mark feld approved ;-)
I sold all my 58s because they were not up to par.
Right now I'd say about ten bucks
Some like to accuse me of spamming, but hardly. I am as clear as a bell on finding out the TRUTH, and that includes using these boards to do it
I price them low because I don't have a B&M. I paid about $20 to have it slabbed. My guess is this particular AU58 will sell for about $40 if it is anything like the last 4 or 5 I sold on ebay. I don't even know what the DEALER pricing says.
``https://ebay.us/m/KxolR5
<< <i>When I'm felling they fhould go for MS63 money and when I'm buying they fhould go for AU55 money. >>
LOL@ your accent
``https://ebay.us/m/KxolR5
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on grade because most examples are heavily worn and other coins can be more
dependent on other factors such as strike or surfaces.
I suspect we'll see some pricing of clad AU-58's going for multiples of MS-65 price
due to strike characteristics. With many of the clads it's far harder to find well-made
than well-preserved.
If it is a more common coin w/o any spectacular toning I feel you should take the au greysheet and ms60 bids add them, and divide by 2.
However if it is a more classic coin with desirable toning, you can throw the sheets away, and be prepared to pay strong money.
Example here are 2 au 58's 1st coin paid right bewteen au50 and ms 60 price.
NGC au 58
2nd example anacs au58 don't even ask, but a whole lot more than greysheet.
There are few easy answers in numistmatics.
Rob
Something I am not getting in this question?
Jonathan
<< <i>AU55 is where the bargains are at. >>
except for that $399 ebay coin!!!
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
<< <i>Why would AU58 coins be priced any differently than any other grade? Use the sheets, that's what they're there for.
Something I am not getting in this question?
Jonathan >>
You can use the sheets and you will sometimes be successful acquiring average looking au 58 coins.
What you're not getting is that you will rarely if ever buy a fully lustrous au 58 coin which has so little rub that it takes magnification to locate it. And practically no bag marks.
If you believe the sheet truly addresses the market value of high end and low end au 58s as being the same then you will be wasting your time bidding in auctions where only frustration awaits.
As the man said"not all au 58s are not the same." Dave W
David J Weygant Rare Coins website: www.djwcoin.com
The ANA grading standard describes varying degrees of circulation wear below the MS-60 grade, but by definition, since an uncirculated coin cannot have circulation wear, the ANA standard describes 'quality of strike' above the MS-60 grade. This dichotomy in the grading standard often leads to problems. How do we account for 'quality of strike' in the circulated grades? I think that the AU-58 grade does this for us.
In my opinion, a true AU-58 coin should be valued above an MS-60 coin. An AU-58 coin is one that left the mint in an MS-64 or even MS-65 grade, but received a slight rub in brief circulation. It was not an MS-60, MS-61, or even an MS-62 coin when it left the Mint; it would have had a much better quality strike than that, and should be valued higher than, say, an MS-60 or MS-61 coin which saw slight circulation. That coin would now be an AU-50 or AU-53.
I have consistently paid much greater than MS-60 prices for true AU-58 coins. Usually I would pay something in the order of published MS-62 prices for what I would consider a true AU-58. And if the coin has significant pizzaz, color and eye appeal, I would pay even more.
"Why would AU58 coins be priced any differently than any other grade? Use the sheets, that's what they're there for.
Something I am not getting in this question?"
Most price sheets and services do not list an AU-58 grade. And it is misleading to interpolate an AU-58 price as being between AU and MS-60; it is worth much more than that.
<< <i>Why would AU58 coins be priced any differently than any other grade? Use the sheets, that's what they're there for.
Something I am not getting in this question?
Jonathan >>
It's the very nicest coins with a little too much wear that often get tossed
into the AU-58 grade. These coins can be spectacular gems with the hint
of a rub. In some coins spectacular gems are virtually unknown (try finding
a spectacular 1982-P quarter). This can apply to some of the early bust
coins as well; they may almost always come with poor surfaces and less
than perfect strikes. Usually this will be because of poor survival rates in
the case of bust issues. If the choice is between a gem that is less than
stellar or blazing beauty with a little too much rub then many collectors will
seek the coin with the rub.
But, there can be other sorts of AU-58's as well. A coin that's scarce in
unc and has a little rub will get the AU-58 grade even though it's a very
unattractive coin.
This is just the way we grade coins and the problem is most pronounced
on coins that aren't quite uncirculated.
Most MS60-61 coins are marked up battered pieces, whereas in many cases (not all) AU58s are MS64s with a rub. Most of the time an AU58 has infinitely better eye appeal than an MS60-61.
I've paid above MS money for an occasional AU58... I've also been able to buy them for AU50 money.
1/2 Cents
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