So I was doing some research, comparing grades and prices for coins I'm interested in, and came across these two coins. One is PCGS AU55, and the other is NGC MS64+. For the life of me, I don't see how the MS64 is the higher grade. This not just a small difference either, but almost ten full points. The top coin is MS64+. I know the lighting is different, but trying to objectively look at just the wear on high points, I see more wear on the mitre (hat), the wheel, the priest's hand, the windows in the cathedral, the weather vane, and other points. Am I the only one who doesn't just understand the grading difference but who actually thinks the AU55 coin is the better one?
It's not really 10 points higher as they are measuring two different things. 1-60 measures amount of wear. 60-70 measures marks. There is no reason why a lightly circulated coin can't have less marks and a better strike than an MS coin. As for the AU55 being the "better coin", that is up to you. The AU appears to have a better strike, but you can tell the MS has a ton of luster. The fields on the MS coin look much nicer than the AU. The MS coin also has conditional rarity going for it. The "wear" you see on the MS64 is likely a combination of weak strike and the toning. I personally like the MS one better. Buy the coin, not the slab.
Here's a pic without the lighting. I do like the toning in the lettering on the right better, but outside of that area, the 55 (left) looks like the better coin to me by far, both in wear and coloring. I don't understand the massive difference in grade (and price).
The so-called massive difference in grade is extremely easy to explain. The AU55 has some light wear on the folds of the robe, the hand, and the forehead. It's a lightly circulated coin. Therefore, it must be graded between 1-58. People can argue whether the grade of 55 is accurate, but due to the wear, no way it goes higher than 58. The MS64+ coin has no wear on it. Therefore, it must be graded between 60-70. Based on luster (appears very nice), strike (decent for type), and marks (very few with some light hairlines), the grade does not appear out of line.
Great comments by @gmarguli. I was an underbidder on that piece and also the 1683 Munster in the Heritage auction (the latter might haunt me for awhile). I think the AU-55 is more like an AU-58 and the 64 is more like a 63 in my eyes. I'm not throwing shade at the MS64+ but the image would lead me to believe the strike is not what one would expect for the grade. In hand, I am certain opinions would change. Both truly desirable pieces....well beyond my AU-50 example.
I would be happy to own either one of them. I see why the 64+ piece has the higher grade. It would be interesting to see it in person. It must have really nice luster.
Hmm I still think that AU55 coin is the better one. The MS64+ has more wear, a worse strike, and I don't see any toning other than in the lettering. Anyway, I missed out on the piece below yesterday ago, and two others, as I wasn't present at the live bidding and my 3x the estimates advance bids weren't enough. Very disappointing. That's like the eight time I miss on a coin at Kuenker. Prices for really nice coins seem to have gone through the roof the last 6-8 years. Coins I bought for 1K a decade are now easily going for 2-5K. If another one pops up, guess it'll be waking up at 3 AM to join the live auction WCG, your coin is still beautiful. I actually like pieces that have a bit more wear as they feel more "real" and have been handled. Always makes me wonder where they've been, who owned them, etc. I have multiple lower grade coins like VF35 and some of them are just as nice as some MS pieces because they have character.
Sorry to hear the outcome. The Salton Collection was impressive and the lot 33 Osnabruck piece was no exception. I woke up to bid live on the Quedlinburg lot (2 lots after the Osnabruck) but it ran well beyond me with a hammer at 5x estimate. Kuenker material is generally in a class of its own.
I'm sorry to hear you lost your item as well. I've always known their estimates are (purposely) low, but many lots selling for 4-5x the estimate is rather crazy. I've won a few before but never went beyond 3x estimate. It's amazing that one person was able to amass all those coins in that auction... I suppose it was easier back in the day, or they just had a big bundle of money Better luck next time to us both!
