In descriptions of Early American Copper Coins, the Heritage auction site will give the coin's slabbed grade and may also list a MRB rating. Below is one example http://coins.ha.com/common/view_item.php?Sale_No=1138&Lot_No=28 C-3, B-3 1793 Half Cent, VG81793 1/2 C VG8 PCGS. C-3, B-3, R.3. The Y in LIBERTY and the cap are close, and on the reverse, the lowest right leaf points to the C in AMERICA. A significantly worn yet pleasingly smooth example of this popular first-year half cent, with golden accents adding a touch of lightness to the rich brown surfaces. MRB Good 5. Heritage used to list EAC grades. Is MRB the same? And what does MRB stand for?
but why follow the designation with a condition indicator MRB Good 5? If you look at the referenced coin, http://coins.ha.com/common/view_item...1138&Lot_No=28 there is no red (MRB = Medium Red Brown) in it at all.
It is not color. They have it listed on certified brown, red/brown and red coins. It does have something to do with early large cents. I am only finding it on large cents 1792 through 1857 and predominantly on the earlier ones.
Minor Rim Bump Actually, I found a reference that indicates they are the initials of Heritage Auctions' Senior Cataloger Mark R Borckardt.
Here's another example in Heritage's upcoming Fort Worth ANA auction: 1793 Chain 1C AMERI. Fine 15 PCGS. S-1, B-1, R.4. <snip> MRB Fine 12. I get the impression that MRB is just Heritage's way of saying EAC. Any thoughts?
They have lots of them. There are 153 currently for sale and 320 in their archives. So far as I can find, all of them are large cents.
I agree, illini420 nailed it. EAC grading is different, more conserative, than that by NGC/PCGS and others.
Yes, that is correct. Basically, the TPGs have one grade and us EAC types see it differently. 99% of the time, the grade according to EAC standards is lower - often much lower. So Heritage always lists the TPG grade for any coin... but for Early American Copper, they add "the other" grade. For years, they said "EAC -n-", but apparently someone at EAC objected. now, they use Mark's initials next to his EAC-style grade estimate. IMO, the best way to buy copper is to determine the grade yourself by EAC standards and consult "Copper Quotes by Robinson" (aka CQR). Then, check the TPG grade and compare to auction records. Funnel all that in, and "pass or play".
When it comes to Early American Copper, Mark is Tha Man. He was the primary cataloguer for the epic Walt Huzak sale of Early Date Large Cents in February 2008. If you can find a copy of that auction catalog, grab it with both hands and don't let go. It is vital literature, and a work of art in it's own right.
Rather than say "more conservative", I prefer to think of it as a different methodology. It's a different way of thinking. It's necessary, since TPGs struggle with Early American Copper - not because of any fault of the TPGs, mind you. It's because so much early copper is very valuable in spite of problems which would clearly bodybag a modern coin. Since 99% of early copper has problems of one sort or another, does it really make sense to disqualify 99% of the coins from slabbing ? ...or is it better to go ahead and slab the ones with lesser problems, and bag others ? The TPGs chose the latter. Which, of course, begs the question "How bad is too bad to slab ? Where do you draw the line ?" And that, my dear friends, is the 64 Billion Dollar question ! heh heh heh :goof:
This is correct. I was actually in the room (while proofreading the Reiver catalog) when the client call came in that prompted us to add these grades in the first place.
The answer from Heritage I just got this from Heritage: Thank you for your inquiry. "MRB" stands for the initials of Mark Borckardt, a Senior Cataloger with Heritage. For the convenience of early copper collectors who prefer Early American Coppers club (EAC) standards to those of the grading services, he includes a grading opinion on such pieces that aligns itself with the EAC standards. Sincerely, John Beety Numismatic Cataloger, Heritage Auction Galleries
I emailed Mark and he replied - "A few years ago, Heritage began providing "EAC" grades for half cents and large cents. I was the one to determine those grades. Then, in the Early American Coppers "Region 8" electronic newsletter, some EAC members (just two or three specifically) began complaining that I was not an official EAC grader. In fact, EAC does not have any official graders. In response to those complaints, Heritage switched from an "EAC" grade to an "MRB" grade. Nothing else has changed, and I still employ the strict grading used for early coppers." (from Borckardt, Mark)
Walt Huzak sale of Early Date Large Cents in February 2008 I have a copy of the auction catalog referenced above. If anyone can use it, please let me know.
