eBay: "Rare Gem AU" Walkers

Sorry, everyone, that I didn't spot this one in time for people to bid:

Silver Walking Liberty Lot (1942 S and 1943) RARE GEM AU

Even though the auction will have closed by the time you see this, it's worth a peek. It's rare to see coins of this Gem AU quality.

Okay, actually, it's extremely common to see coins of this quality. But, as far as I know, this is the only time I've heard them called "Gem AU". Gotta remember that one.

 

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I would say those are WAY overgraded

 

You're right, I saw it too late to get into the action. But no one bid on it....does that mean all the eBay suckers are no longer out there? Or everyone, even the know nothings saw through this? Or he is just way overpriced?

Anyways, good for him that no one took it.

 

Actually his price is just 29c over melt, but throw in the $5 for shipping and they considerably over priced.

 

Actually this is the second time I've seen GEM AU!!! LOL
The funniest currency auction I saw not to long ago was; "Rare 2006 COLORED five dollar bill"
They only made 50 quadrillion, and it wasn't even Crisp Uncirculated!
I tell you? A lot of used car salesman on Ebay for sure......

 

I might call them Gem VF...maybe. :rolling:

 

I would say that even "plain-old VF" might be stretching it a bit.

 

That´s a AU coin allright ! Nicely graded :rollling:

 

Definately, streching the grade. Photograde and PCGS both suggest that a VF has both breast defined or outlined on the walker. Well as you can see that's definately not the case. With the over exaggerated title and shipping charges I agree that its just a waste of time and money for common coins.

 

Market grading?

I've seen "Top Tier" TPG grading of similar coins graded at VF, but I deliver similar coins graded as VG. I don't know what is proper grading today. Market Grading? :rollling:

 

"Rare" is also used WAY to much these days on Ebay as well.. seems everything being auctioned there is rare..~ go figure~~

 

If we graded anything like that as a VF my boss would take us out back and...well.. nothing pretty I promise you. He has a strong policy of proper grading and fair pricing. He rather have us under grade then overgrade and charge too much for a coin. He takes pride in our ebay store's perfect feedback score and we try everything to make sure Dave's Collectable Coins stands out has an honest dealer. It's a shame how people try to spoil the hobby by claiming something isn't what it truly is. It makes it hard for those who aspire to be spot on and agreeable to the masses.

 

Well between the two 65 million were minted so there goes rare. Gen is a mint state coin so that a gonner.
AU for for a coin that circulated until is only shows fine detail won't get my bid.
Sure glad they are silver but shipping killed that.

 

One major coin promoter calls MS 64 "gem". I thought it had to be a minimum MS65.

 

Market grading misunderstanding?

I can both show you numerous examples currently in auction, and in my possession, where regardless of what is thought to be "dealer buy standard" (with both full breasts), "top tier" TPG differ in their actual grading (Market Grading"?).

The VF Walking Liberty selling standard is often without hardly a hint of the left breast, with the right breast shown as described in the A.N.A. original standard: "(A) Breast is outlined".

The standard neither states, nor shows "BreastS outlined".
Thus, the photos shown for F and VF grades in Photograde are virtually identical, without outlined breasts. PCGS has graded coins which I would grade VG-F Obverse as VF. which I believe to be shown in this example:

http://www.ebay.com/itm/1917-S-WALKING-LIBERTY-HALF-DOLLAR-VF-30-PCGS-8167-/280738823423?pt=Coins_US_Individual&hash=item415d567cff
:thumb:

 

That's the kind of slabbed coin that makes me scratch my head and say "What the....?" Definitely not VF30 material.

 

I agree Collector1966.

IMRICH, according to Photograde 19th addition by James F. Ruddy Copyright 2005 clearly states VF-20: "All skirt lines will show. The body will be well-rounded and the BREAST WILL BE OUTLINED."

According to PCGS Official Guide to Coin Grading and Counterfeit Detection Second Edition VF20-35 "specimens will have flatness along the body from the head to the bottom of the leg. With the breast and leg feathers worn flat [but still visible] and the upper wing having only slight detail..." F-12/15: "The head, breast, and hand will be worn smooth, with flatness in the flag and foliage around the upper part of the body." ...... http://www.pcgs.com/photograde/#/Walker/Grades - you can clearly see both breasts outlined on these examples of VF.

Also on the slab you showed above. There are thousands and thousands of slabbed Halves by any grading company. Not all two will match. No two graders will agree. No two coins will look the same. That one walker you showed could of been one of hundreds sent to PCGS for grading and given to a guy who's got 1 hour left before he went home for the day and simply just rushed through them. Some may say that PCGS is perfect and outstanding but any task delt to humans are bound to have a mistake. No one can be a perfect grader. At least one person will disagree with any coin. That's the beauty of Nusmatics.

Truly, it all boils down to exactly that. "Market Grading." We can only try and grade appropriately and follow the major sources provided. Where I work we try our best to make sure our grading is fair and honest. We take pride in our quality and our 100% feedback. No, not everyone may agree with our grading standards but the majority seem to find our coins under-graded and priced right. We can only aspire to keep our customers content and saying "Wow, I think this coin's better than this grade" instead of "what the .... were they thinking?"
Example of a VF: http://www.ebay.com/itm/1943-D-VF-W...16?pt=Coins_US_Individual&hash=item1e668af63c

On the coins originally shown as "Rare Gem AU" there is simply nothing we can do but shake our heads and wonder why. My question is how can a dealer honestly portray them and display junk silver coins as Rare or even Gem AU? Gem AU isn't a grade any top tier or bottom tier certification company use nor are any breast remotely outlined on these two halves. It's worn completely and utterly flat. Ultimately, this cancels out any hope of a 'GEM AU' grade or even VF!

 

I have no doubt this seller misused those terms, gem and AU, and that those WLH's aren't close to AU.

But sometimes it is descriptive to call a coin AU65, e.g. It's done tongue in cheek, and the message is "but for the tiniest rub, this would be MS65". Most collectors get it.
Lance.

 

bs65?

 

Trying to compare a early date 1917 to a 1940 date coin is like comparing apples to oranges. All early date Walkers have less detail than the later dates that has been know to any collector of the series for years.
And the coins in the OP have nothing to do with grading standards as they are not graded.