This is a variety which usually comes on poor planchets and is often poorly struck. While this one has scratches and damage on the cheek as well as moderate corrosion, it has better detail than many VF coins, partly due to better strike. My question is how the market will net grade after deductions for typical condition issues.
That coin actually has a nice 'arms-length' appearance. In my opinion the obverse has the details of a VG10 to F12, while the obverse has VF20, (I don't think I would no go higher). How do you net grade: in my opinion the obverse has what I describe as moderate roughness, while the reverse is more severely affected and seems to be moderately corroded. All in all I would grade as G6, maybe VG7 (EAC). Since you are asking for a market grade my guess is it would go VG10 - F12. As a side note: In my opinion, the rarity rating of S-132 is nowadays probably less than R-5+. I have seen quite a few of them and I would guess it is now probably an R-5.
Thanks. This is what I was looking for. I think you're right on all counts. Do you have an opinion on whether it shows breaks at the top of MERIC and bottom of CA? I mentioned it in another thread, probably Attribute This, as a possible new die state. It looks like it to me, but I can be fooled by corrosion. As a caveat, I believe I see the irregular crack described in Noyes S-133 Die State C at STATES and the crack from the bottom right of A to the (stem below the) lower leaf tip at ST described as a possible crack on the S-132. (I believe this shows the crack extends to the stem without touching the leaf) If true, then at least some of the S-132s were struck after S-133. It would be so much easier if this variety came on smooth planchets.
