This coin was at auction last night: http://www.teletrade.com/coins/lot.asp?auction=3189&lot=1347 I was tempted to bid. Is this one a lock upgrade like many of those old holder coins? MS60/61, that was given a 58 because it was a bit unattractive? Thanks for thoughts on this.
I do not see the coin upgrading. The coin has obvious luster impairment in the fields -- thus the 58 grade seems right. If it did, there is little/no premium for this coin in 63 plastic. So why take the chance -- as the coin is not attractive to begin with and there's no upside. In all likelihood, there is a reason this coin is still in the holder it is in. The guys at TT/Spectrum are no dummies. IMO of course....Mike
Type IIs are worth a bit more in mint state than type IIIs, and in MS63 they are worth big bucks if Greysheet is any indication. MS62s sheet is over $3000, though one sold on the TT site for around $2000 the other day. Problem coins are pretty much dead in the water these days, so even dirtiness may deter potential buyers.
Compare to this other type II $20 in MS62: http://www.teletrade.com/coins/lot.asp?auction=3188&lot=4693&imagetype=j2 Not a lot of difference IMO. "Wear" or "rub" or "cabinet friction" don't necessarily preclude mint state grades. I would rather have an original, baggy coin, than a dipped out one.
It does when it appears in the fields. That 62 doesn't look mint state to me either -- and it's in an ICG holder, and sold for what, $160 more than the older PCGS holder? I think that's a wonderful idea, for what it's worth. However, this is not an uncommon coin/type, so you can afford to be patient. A better example will appear with some patience. Good luck!
No, they are both PCGS. And yes, I would agree that the MS62 is a little low end for grade, probably more like an MS61. My good friend, Norman Kleinman who advertises prolifically in Coin World runs a lot of $20 Liberty coins as well as classic type. If the coin is baggy and dirty he calls it "original". If it has any merits whatsoever he touts that fact by saying that it "looks" like a couple grades higher, etc.. PQ+++ is a common ad device for him. He has been running a lot of details grades coins in his ads. I remember his brother Jack, who supposedly could identify any $20 Liberty coin by its reverse, not by looking at the obverse or the date! Now that was a heck of an achievement.
