Lacking in expectations, right Sam? That's why one buys the coin and not the slab. Not to discriminate with the ANACS fellows (they do get it right for the most part [questionable at times by many folks]), but that attitude applies to all TPG's........they are, at times, abysmally wrong........
Very true @green18 . the very first lesson is always buy the coin not the slab. also, anacs is right most of the time, but their margin of error is a little larger than others
A collecting buddy Paul came to me this weekend and had bought this about 5 days ago and asked my opinion. After looking at it I then asked him did they have a return policy and he said yes. I said contact them and ship back for refund. I wanted to see some opinions here on grading. My opinion was about an XF borderline coin. But color and "luster" to me would make it not even that. I was fair and photoed from all angles good and bad to show the coin on here. In addition, even for a clad "luster" is bad and very dullish which does not even show up on these photos. I showed him as a comparison an AU-53 from PCGS and I took some photos, scanned them and and put them side by side. It was not even close. The PCGS I purchased as an AU-53 for quite a bit less than he paid for the ANACS 58 and the "luster" and color are not even close not to mention the nicks and abrasions. Am I wrong or was there a deal ANACS had going a little while back for dollar and cent coins for a submission and grading discount? I do not keep up with this as I seldom follow the slabbing criteria. Anyway, I appreciate your opinions on the grade and now he can see it is just not me being critical. Steve
What does your friend say, Steve? Was he happy with his purchase? Possibly not because he came to you for advice. He was looking for reassurance on a chance purchase, and trusted not his eyes.........he seeked the opinion of you. When one seeks the opinion of others, he is not true to his own whims and wants.........he trusts not himself.
Yes he appeared a "little" anxious when he showed me the coin. I am not a world expert but I have experience with Ikes. Maybe he talked to someone else in our group he did not say and they put the seed of doubt in his head. Fortunately, he bought from a seller who offers a 30 day return.
OK, originally he saw something when he purchased this coin. Something spoke to him, drew him in. What was it, and what was it that gave him the remorse? Of that I can say, many of us more worldly fellows have already answered, but what was it of your friend? Surely, I can say that I've made more than a few, shall we say, bad purchases? And what were they based upon? Ignorance? Indeed yes. Your friend is lucky to have you at his back, but your friend needs to make his own decisions when it comes to condition and collecting. Your consulting nature is most admirable........
And I have had some people at my back over the years--most have passed on...sometimes early in my "collecting" I made mistakes but most were not very costly.... Sites like these are excellent to get opinions as they were not around in the early 1970s...you but it you're stuck with it back then.. He is learning-------if it is too good to be true it usually is..or....if in doubt get the hell out...etc, etc.
Here are some quick outdoor photos on a cloudy day of the ANACS AU58 Type 1 and the PCGS AU 55 I had at home. Just the eye test without even looking at the wear pattern is a biggie. Paul saw the difference right away. I purchased the 55 at a show not that long ago with some other coins as a price far lower than he paid for the 58.
Remember, grade is a measurement of wear from circulation, nothing else. It looks like the coin isn't very worn -- although AU-58 may be a touch high; I'd call it a 55 or 53. The unattractiveness of the coin is from its significant number of bag marks. If it was a mint state coin (i.e. NO wear), it would be on the lower end because of all the bag marks. But it isn't mint state; it's worn, so the grade doesn't necessarily drop. That said, as others have mentioned, this is a perfect example of "buy the coin, not the slab."
