AU 58 with Nick on Coin?

It is. There used to be only AU-50 and AU-55, and the 58 grade was largely created to refer to "super slider" coins which weren't technically mint state, but were essentially "choice/gem coins with the slightest traces of rub or luster break.

But in practice, it's been watered down, unfortunately. The marketplace doesn't seem to care, though, nor does it need additional grades. The truly choice AU-58 coins -- the ones that meet the "textbook" definition of the grade -- usually sell for MS-60 prices and above anyway, whereas the watered down 58s barely sell for AU-50 money. Most knowledgeable collectors with a discerning eye don't need another grade to separate the wheat from the chaff.

I see no need for additional grades given the above market realities, though I'd prefer to see the standards upheld and not watered down with market grading and general gradeflation. What I hate about "losing" a bid on one of the true AU-58 coins out there is that I figure they'll wind up in a 62 holder before long -- and the grade inflation cycle continues...

 

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Umm, I'm really not sure what you're saying here, and I'm less sure I know how I should take this...

 

Well here is a phot of a 1892 $10 gold peice graded MS-60 by PCGS...one grade higher then AU-58



Speedy

 

I guess my point is made pretty clearly. I think Ziggy's coin is a better grade.

catman

 

Catman

I think that Ziggy's coin looks better than a AU-58 too...thats why I put the photo.

Since I don't collect gold coins it's hard to be sure of a grade but I think I would give Ziggy's 1-2 points higher.

Speedy

 

Hey Speedy,

Let me give you a little advice. Don't keep putting your grading skills down. You do pretty good. Always shoot for the positive side. Do you want to learn to grade..?

Whenever you get the chance grade a coin. Be positive in your mind that its correct. Don't wonder if its right. Be right in your own mind. Now the hard part. Have some of your friends, that you know can grade, grade the coin. Be open minded to their grade and keep in mind why you graded it the way you did. Pretty soon you will be able to grade like a pro and be sure of yourself. Remember you just graded a gold coin the same grade I did...! Have a little confidence in yourself Ol' buddy..

catman

 

Catman
Thanks for the vote of confidence..
I'll tell you what I'll do--I just tried my hand at Washington quarters. On Monday, when I go to the coin shop, I'll take them with me and and see what he says.

Thanks again.

Speedy

 

After you do that. Keep a note of what you came up with and what he did. Now send me a photo of the ones you both did and I will give you my opinion too.

catman

 

Catman
I'll do what you said and let you know Monday.

Speedy