Net Grade This Details Coin #2

NGC UNC details- harshly cleaned

 

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I'd probably Net grade it at AU55 just because of the difference in premium over a clean UNC grade and due to the difficulty of finding an Uncirculated example which this used to be. A net grade down to XF and below seems a bit too much. Even though the cleaning looks like it was done with a belt sander.

 

AU Details ... almost BU .. Been Used

 

I agree with @ToughCOINS 100%. I wouldn't even make an offer on that coin if someone wanted to sell it to me.

 

I agree this coin is yuck and should be sold at 2-3 levels under grade .. but it is a Its a Details coin OP didn't ask what it was worth .. two different things

 

If a coin would be Mint State aside the damage/cleaning, no further granularity of grade determination is even possible since the grade is based on technical condition and eye appeal.

Further, "Net" would need to be be more strictly defined into a rule we would all use specifically for the purposes of your threads. ANACS used to use "Net" grades to describe the "righteous coin" grade level at which it felt the damaged coin to be worth. These days, "Net" grades are the strict technical grade at which the coin would sit had the damage not been present. Which rule are your respondents using?

Me, when using the term "Net" I always offer strict technical detail. Others in this thread have already used the "value" definition of "Net." So you're never going to reach anything resembling a consensus.

This coin is Uncirculated Details to me - I feel it hadn't circulated before its' encounter with a wire brush - and there will never be enough information available for me to determine any other grade for it. I've no idea how nice it was before.

 

If you look at the Reverse of this coin you will see wear around the Oak Leaves. Along with Slight wear over the Ear on the Obverse. These thinks occurred prior to the trip with the wire brush.. That is why I am thinking of a Details AU.

 

I'd completely pass on that one. If you could make it a pocket piece for a bit and retain a little of the value, it'd be worth it, but since the value plummets in lower grades, it wouldn't be worth it.

 

Too long in the past to remember, and too many of those I learned from did it that way to single one out. There was a time when only ANACS did not use "Details" and "Net" interchangeably (actually, they were the only one using "Net" at all), and that's the habit I'm in today.

Considering how subjective grading is in the first place, it seems kinda ludicrous to assign a value-based "Net" to a given coin, when that reduced value depends wholly on the opinion of the buyer.

 

Letting someone tell you what a coin is worth is rather like letting someone tell you who to vote for. I think back to a day when the TPG's didn't try to do that, excepting ANACS.

For the record, I cannot disagree with your logic.

 

Unc Details . I don't give net grades as to me it's an Uncirculated coin that was hair lined to death , what's it worth to me is bullion .

 

Unc details and cleaned with a wire brush too bad

 

Absolutely horrible looking coin. Whoever cleaned it absolutely murdered that really nice date. Would love to grab that person around the neck and shake them. Grade doesn't matter, as it is ruined.

 

I'm not sure I even understand the debate above, but I used the "value" approach because I figured the interest of a poll like this is to see how people rate the severity of different types of damage. I often find it hard to decide how I feel about an otherwise nice coin with a moderate scratch or rim bump - and "how I feel" does sometimes translate to "how much would I pay."

For me this coin is too ruined to think about that way, because my interest in owning it is zero. But I can still ask myself: if someone offered to give me either this coin or a problem-free example in grade X, my choice, then for what value of X would it be hard to choose? I voted VF30 though I've already changed my mind.

 

The crux of the debate is this:

The coin has UNC details. But, it would sell for a much lower price. The "net" grade is considered to be the value at which it would sell (based on a discount for the problems).

For example, imagine a Morgan that has the details of an AU (based on its wear). However, it has been polished with a wire brush. Because of that, it will sell for a strong discount - a dealer could expect to realistically only get a VF-30 price. So, the coin would be AU details, Net VF-30.

This style of grading has become less popular, because every problem affects the value differently. It is very hard to be consistent, and very hard to standardize these issues.

The EAC style of grading (Early American Coppers) still use this type of grading - the EAC grade accounts for all sorts of surface issues, problems, and such. You might see an EAC grade of F-12 for a coin which may have VF+ details - because all of the problems have been discounted into the final grade.