I have talked to several dealers and they have told me that the grading standards have been changed for the Buffalo Nickel. Mostly regarding the horn and how much of the tip is remaining. Has anyone else out there heard of this change?
Although grading standards do fluctuate slightly over time, I haven't heard anything specifically about buffalos. Was the dealer trying to buy your coin at a lower grade? If so, I've heard of that. lol
The change you are describing took place in 2005 and it is listed in the ANA Grading Standards. Prior to that in order for a coin to be worthy of XF the tip of the horn had to be complete. With the change, it only has to be nearly complete.
So, it sounds like the grading standards have loosened. Did the dealers tell you they have loosened or tightened?
No need to talk to dealers. The ANA standards book does establish or set the standards, they merely report what the current industry standards are.
The TPGs take into account strength of strike and overall wear much more than the "horn-centric" ANA grading. Both are valid standards, but they are quite different in practice....Mike
VF Buffalo I have noticed that some dealers and TPG's have graded Buffalos VF even without a full horn. I was also taught that you need a full horn for VF. Now, some years are harder than others to get a full strike, yes, but I'm still an old fashioned guy. I want to see a full horn, even if weak, before I'll give it a VF. Otherwise, I need to have it slabbed. The price jumps between F and VF can be substantial and tempt a dealer to sell at VF while buying at F.
VF Price Jumps Yes, the price jumps can be quite substantial. In my opinion, the higher amounts listed by price guides are (usually) only justified when a VF or XF Buffalo has a full and complete horn. Of course, there are many others factors that affect a buying decision, eye appeal, etc. But before paying the big bucks, I wanna see the horn.
Thanks GDJMSP. Thats what I thought I heard. I personally want to see a sharp tip of the horn to meet at least EF-40. Thank you all for your replies.