This one is tricky - the coin actually has full details for how it was struck. Here, you have to distinguish between wear from circulation and a really late die state where the die itself doesn't have much detail left. To distinguish, look at the luster which is complete and full. The only possible interruptions to the luster are on the cheek and jawbone. That's why everyone is guessing 55-58.
I see it as no less than 58 and low MS would not shock me. It would be a fun experiment to send in for grading...
As usual I am off the mark. But the apparent wear on the reverse between 4:00 and 6:00 to me looked more than an AU would exhibit. Also, could not the luster you refer to be the coating of Verdi-Care that might be present?
No, Verdi-Care will not create luster. I'll let @BadThad tell you more (he invented it), but if there's no luster present it won't have a lustrous look.
Yeah, I agree, none of my verdi- products cents ever left that type of appearance on a coin, probably those "mystery oils". Jim
Like most people here I do not like to be wrong. But if that is the case and I learn something, then it is a positive. @C-B-D -- do you intend on having this slabbed? I would be willing to donate to the effort if that is the case.
I would say AU58. I think there's a little wear on Lincoln's cheek and jaw line. I like the color so if it's been cleaned it would fool me. I also think Care is a useful product on bronze.
One other thing: I sent a similar appearing 1931-S to PCGS. One of the "lesser" services had called it AU58. PCGS put it into an MS62 holder.
I wasn't planning on having it graded, but I decided to this morning, so as to educate us all. No need to chip in. I have an order to send out to PCGS and another to NGC in a week. Which one should I send it to?
Even with the strike, I don't see how it is MS because of the missing detail on the wheat stalks. I get it about over used worn dies, but there's just too much missing. There's damage to the O in ONE CENT. Also a flurry of scratches on his jacket. And some scratches on the reverse. AU details.
Hopefully this helps with your confusion. What you are seeing are the die markers for Die pair #3 https://coins.ha.com/itm/a/1251-8374.s
The education we're all going to get from this is priceless. For starters, I paid $65 for the coin. The dealer had it marked XF45, but I saw full luster and considered it UNC. I will send it in for grading next week. In 4 or 5 weeks, we'll have a TPG's opinion. In the meantime, please continue to share your thoughts.
@V. Kurt Bellman , what are your thoughts on this coin? I know you'd prefer NGC, but I'm not sure which TPG to send it to.