I went to a coin shop and I was looking around when I came across this coin in PCGS AU-58. Normally when it comes to Classic commemoratives, if they are not in Mint State I would pass, but this is a series that normally comes in very low MS grade anyway, and most tend to look quite terrible. This one the eye appeal was nice enough that I decided I could live with it in AU-58.
Very similar to one I had in my collection years ago. Not slabbed but about the same grade. A very nice coin for your collection. Bruce
This one is graded MS-64. It's now worth about a third of what I paid for it. These coins were very expensive in MS-65 and better. It's why the MS-64s used to be more expensive. These coins were struck in very low relief, and are never very nice. Washington usually has marks on his cheek. They are quite often marks that were on the planchet before the coin was struck. The dies were too shallow to flatten them.
I paid $84 for AU-58. That looks like a very attractive one. But yes, looking at prices over time there are a few issues that tend to do well and keep up with the rate of inflation, but others such as this one are basically dead. That was another factor that I considered before making up my mind to do this one in AU58 instead of MS like the rest of my collection. Don't get me wrong, I have no interest in ever selling, but I figure that my personal desire or lack of desire to a particular coin in the set, eye appeal, and the overall market desirability of a particular coin does weigh into my purchase decisions. If it's a coin that has a lot of potential in high MS, and/or is a particular coin that I really lusy after, I will be inclined to pay more and occasionally even go over budget. But if it's a coin that I don't care much for, or has been steadily losing price over time, that will weigh into my decision. Especially considering that when I die my kids are going to have to sell this stuff, and I want them to do well with whatever they inherit. So if the coin doesn't do much for me, and it doesn't do well overall, I am willing to look for a good deal versus rushing for a very high end specimen.
AU 58 used to be a good value grade with plenty of nice examples when there was less market grading (some of those nice AU 58s have been bumped up to MS coins over the years). This looks like one of the solid AU 58s and at a good price too!
