Hone your grading skills - 1901 IHC

Good luck pricing coins using the ANA system.

 

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p.s. the ANA system is a great system, but practically nobody who sells coins uses it, thus going from ANA grade to price is a real challenge.

 

What is so confusing the about the way the TPG's label their coins?
What confuses you about it? You use an ANA grading system, and yet NGC is the official TPG of the ANA...
I'm just curious, because I could be confused about something, and don't know it yet.. lol

 

He uses the term because it makes so much that sense. I also couldn't agree with the term more. A slider is a coin which on any given day could grade either a MS-63 or AU-58 with equal chance.

IMHO this coin exemplifies a slider. It could go either way at a TPG. My thought at first was MS-63, but that is from photos. With the keen eye of a few others here I can also fathom that in-hand this coin may look AU-58. I'd have to examine it in hand.

My grade would be the fitting AU-63, but that is a term that Lehigh ingeniously invented.

 

Exactly what I thought! I said MS64 when I first saw it, and then AU58 upon further inspection.
This coin fits the AU63-64 concept, EXACTLY!

 

I don't buy it and that;s it I have been using the ana standard grading system for mucho years ,and will always grade my coins that way You want to use that system that's your choice fine I don't care..Why don't we start,and add a AU 71 now to make it more fun.:rolling:
JC

 

I dissagree with that quote i know plenty of dealers and coin collectors
that prefere that method.Well let me know what a MS 63 coin is and a AU 58 coin is in your mind
JC

 

I've always gone by what I've seen...
I compare my NGC MS63's to some raw coins, and other MS63's and also MS64's, and ones graded by PCGS
I also use what the RedBook says, as they have grading dead on as well, on their little tips, on what makes a grade what it is
An AU58 will have wear, a MS63 won't, if I go by my standards, but there are some AU58's that may have cleaner fields than a MS63, I am working on a MS63 or better set, so I wouldn't personally buy a AU58, but if I could find a better looking AU58, for another set and I could save a good chunk of money, I'd rather have the AU63/AU64 slider.

 

I think you will find the vast majority of non-copper dealers subscribe to the TPGs way of grading. That's because the market--i.e. the vast majority of collectors-- also subscribe to this grading standard.

That's not to say there aren't stalwarts that hang on to older standards. The EAC/copper dealers being a prime example, and as you point out there are a few dealers and collectors that hang onto the ANA standards (mostly old fogies like GDJMSP and his posse ). However, I will contend that the vast majority of today's market on both the buy (collector) and sell (dealer) side subscribe to TPG (i.e. market) grading not ANA grading.

Do you disagree? If so, please name five major dealers whose coins are graded via the ANA standards. I think you will be really challenged to do so, but stand ready with an open mind.

As I said in an earlier post (I believe in the 92-cc morgan thread) -- I don't have a personal grading standard. I grade coins by other people's standards and my understanding of them -- EAC, ANA, TPG (NGC/PCGS), etc. Failing that, I value coins rather than grade them and if pressed on a grade for a particular coin without a given standard a price is typically how I respond (as in the 92-cc thread) -- because it's the price not the grade that is the only constant at any one time and not subject to varying interpretations.

Respectfully...Mike

 

The term AU-63 has been around for many years and you see it used on many forums. It's a quick way to describe a coin that could go either way if sent in for grading. I'm thinking it started as a joke but caught on over the years. There are many terms in this hobby that seem strange.

 

on the obverse side there appears to be wear on the rim above america. good tone.good strike. hair has signs of wear. On the reverse appears to be slight rim dammage. I would say au58 to ms60. There again it showes that third party grading is not a science.

 

Interesting - not saying right or wrong about anyone. I have seen this on several graded MS coins. As a matter of fact in a couple of cases it seems like it went into the dentils. Comments - just trying to understand? And one of the reasons I dropped my estimated grade was because of the flatness of the headdress and feathers. I still think it is a MS coin, just trying to understand what you mean better.

On this coin I think the pictures are washed out hiding the luster that appears to peek through. And like another poster I think the AU63 or AU64 term can be confusing. At the same time I except that others use it and to me that is okay. To me there are some true AU58 coins that are beautiful with just the tiniest touch of wear and are worthy of MS prices.

Now here is where I need to improve. I think I come close to grading some coins, but still have a lot of improvement and experience to go. At the same time(especially at the local shop) - I go thru some questions in my head, what is the grade, is the coin acceptable to me, does it meet my eye appeal for the grade. Once I determin I like the coin I decide am I willing to pay the price. Now my biggest area of improvement is equating that to grade - that can be really hard with some of the coins I collect because of variety. I am just not good enough to remember all the varieties. And sometimes I take notes.

Just my two cents worth...now off to view the Large Cent thread.

 

Well I guess I will stick to the old fart grading system I have been grading coins for overy forty years ,and i will continue to grade the old farts way ANA grading stardards. I have no trouble determining a AU58 coin to a MS60.

The old fart guy JC

 

OFGS...
Old Fart Grading Service...
I'm telling ya, it would make millions..

 

Nothing wrong with that - but how do you reconcile that to what is a reasonable price for a coin? For example if buying a raw 1877 indian head cent. I mean if you graded the coin F-12 based off ANA grading guide, then went to look at the prices I am willing bet the coin is at VF prices. TPG's are notorious for overgrading keydates - IMO. So if you look at TPG graded keydates you would probably grade them lower - at least I do on the keydates. And if you have a dealer that sells key date coins as they actually grade, then please tell me they are online because I want to do business with them.

 

Ancient coins graded by the old fart grading service is coming to your area soon. The grader is pictured below so get your sliders out.
JC

 

I'm a dealer I own Just coins a mail order house. I don't buy coins


JC

 

LOL - how are you going to hire him away from SGS.

 

I've got a few more on the way in an hour or three. Freshly photographed. I think you'll like them.....Mike

 

Cool..now if I can just stay awake.