I have an 1866 three cent nickel with really nice AU details. However, there is quite a bit of rim wear on the reverse and I don't know how this would effect the grade. I"m trying to learn as much as possible about coins and how to grade them properly for my own collection. I haven't really seen anything about rim wear. Help!!!
I was wondering about that. I guess this coin was notoriously hard on the dies and many broke or were worn down quickly. The coin was originally marked as an XF45 and I'm thinking it is closer to an AU53, but wasn't sure about the rim. Either way, both of your answers lead me to believe the coin may have been undergraded. I've compared it to PCGS picture guide and I'm calling it an AU50 which is imo on the conservative side.
Yes it would. But based on that pic there is a lot more wear than just rim wear on that coin. Based on that 1 side alone I would say it is at best XF45. I might even lean towards 40 since there appears to be no luster at all. But that could be the pic. And since a coin is graded by its worst side, no matter how nice the other side is, the coin could not be graded any higher. But it could be graded worse since we can't see the other side.
I wasn't concerned too much about the grade. I am more concerned about gaining some knowledge on how they grade coins. This one is a raw coin and the obverse has more luster and less wear. I'm sure it is AU, but the reverse has more wear. It makes sense that the coin has an overall grade of XF40 or 45 because your comment it is graded by the worse side. I didn't think of that and now I'm gaining more knowledge thanks to you folks.
Go buy yourself 2 books - http://www.walmart.com/ip/4260474?w...30487630&wl4=&wl5=pla&wl6=35048004790&veh=sem http://www.amazon.com/Official-Grading-Counterfeit-Detection-Edition/dp/0375720502 - read them and study them both. You'll learn more and in a shorter period of time than you ever will by just asking questions. After doing that, then ask your questions. You'll have a whole lot of new ones to which the answers will help refine and improve your understanding of the grading process. But until you learn what is found in those books, you're going to have a difficult time.
I've seen that effect on a lot of three cent pieces, and half dimes plus some other coins. I have not been able to figure out what causes it, but it is not wear on the coin that does it.
Yeah, I did a little research and this particular coin was known to be hard on the dies and they had a lot of wear early than expected on the dies. On the obverse of the coin it is a little off center which may have been part of the reason for the rim to appear to be worn away. But I think the explanation of the die as the cause makes the most sense to me. By the way, the wear on the reverse isn't as bad as the photo would indicate. The picture kind of makes the coin look more worn and dull than it actually is in hand. I purchased the grading and counterfeit detection book in the 1st edition because the reviews I read said it was a better book than the second edition. I"m sure I'll learn a lot and enjoy the book too. By the way, if you're really into three cent nickel collecting and you want the ultimate rare book also it is for sale on eBay right now. I can't say for sure, but my guess is that this seller will negotiate a much better price than the $700 list price. Send him and offer and see what happens if it is something you really want. Too rich for my blood, but this is seriously hard to find and in mint condition and a signed copy from the author. I am not trying to see the book for this guy, but putting this here as a service to that one person on Coin Talk that may have been looking for this book. http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=271254510866
Most people do think that the first edition of the PCGS book was the better one. But you do want both the ANA grading guide and the PCGS guide so you can see how the standards are different.
The first edition of PCGS book had larger print and more color images. The second edition has about 100 pages more information but the print is really small.
