What would you grade this coin? It is currently graded by PCGS with a CAC sticker. The dealer who has it thinks it might bump but I belive it's already received a bump in the grade.
IMO, I would guess MS64 and a slight possibility of 65 depending on the luster. Nice clean surfaces, and no abrasions on Miss Liberty's bust. Strongly struck stars, except star 1 is just a tad weak. The detail on the reverse is also superb, with clean fields, and what appears to be some slight toning through the center of the coin (likely a slight orangeish color based on the norm for the toning in these years). Concerns (and if these concerns are realities could knock it down to MS63): 1) Hard to tell from the pictures, but appears to be "haze" on the surfaces. 2) There are a few "spots" showing up scattered in the fields on the obverse and reverse. These could just be the pictures, but the largest two are one on the left trunk of the second "T" in "STATES" on the reverse (11:30 position) and one under the lower serif of the "E" in "AMERICA" on the reverse (3:00). Maybe these are on the scanner glass instead of the coin? Assuming this coin has some luster in hand, this is a beauty of a key coin.
This picture was taken from a dealers website. It is currently graded MS64. I would have pegged it as a 63 but I am thinking it got a 64 due to the "key"
I would ask for better pictures with direct lighting instead of subdued diffused lighting. The luster is impossible to tell from the pictures, and if you're spending this much on a key coin, you could save yourself the hassle. OR, if the dealer has a good return policy, then you could also inspect it in hand and return it if you are not sure. Given that the Numismedia Fair Market Value difference between an MS63 and MS64 is around $1000, if it is a good dealer he will let you inspect it in hand with a full refund return policy. Of note, the jump from MS64 to MS65 is around $2500 for this coin. Just out of curiosity, what is the asking price (only if you're comfortable sharing that). All the best! PS -- I think the strike looks consistent with an MS64 PCGS CAC strike. Two more-recent auctions: http://coins.ha.com/c/item.zx?saleNo=1143&lotNo=4278 http://coins.ha.com/c/item.zx?saleNo=1147&lotNo=3339
BTW, I'm pretty sure I found where this coin is listed, and if that price around $4000 is what you're debating, I think that's sky money for this coin. That's way out in left field for what they're going for on the market and in high end auctions. I wouldn't pay more than the $2500 to $2800 range for it (and that's still a little high in my opinion), and that's assuming it passes muster upon in-hand inspection. Upon zooming in on his pictures a bit more on his website, I'd also warn you again about the apparent spotting that seems to be scattered around on the coin. All the best, -Brandon
As I stated earlier, luster would not be seen on a coin with toning like that. And visible luster is not a requirement for the grade either. Coins without visible luster (due to toning) can even be graded 65, or higher, let alone 64. Also, on these coins, even untoned examples, luster is known to be subdued.
I agree with you. But, much nicer examples than this one appears to be can be had for way less than the ~$4000 price tag of this one. Patience is key...the mintage of this issue was very small (238,000), but there are actually quite a few of these around. NGC alone has graded more than 360 at the MS64 and higher range. I don't have one of this coin because I only collect the Liberty Nickels as a type coin, and my personal preference for a type coin is that I get the highest graded specimen, not the key coin. Different people have different goals, but you can get a LOT of nice coins for $3000. My Liberty nickel example is a 1907 PF66 (mintage ~1500 coins), which I purchased for a scant $600 and it's an absolutely stunning coin. Best of luck!
Oh I wasn't even considering the value let alone commenting in it. I was merely trying to point out that visible luster is not always a grade requirement. I've seen some Frankies and Walkers graded as 67's that you can't see a speck of luster on the coin, but it's because of the toning.
Doug, are you sure that you can't see the luster underneath the toning on an MS coin? Does it completely obscure the luster, or merely make it much harder to see, but yet still visible?
Sure sometimes you can see luster under toning, even more often than not. But sometimes you can't see it too. In particular the gun metal grey toning. That's what I meant with my first comment about this coin when I said - "with toning like that".
cool, thanks for the answer. I was under the impression that the toning should NOT obliterate the luster, but merely hide it, but I can understand where the surface may change so completely that the luster becomes transformed never to be seen again. Is that about right?
