CAC premium and PCGS + grade

I've been considering a coin that is PCGS AU58+ and CAC. Clearly, it is worth more than price guides as the condition is exceptional. There is a significant price gap between say AU58+ and MS62. A slight rub likely knocked it down from MS64 to AU58+.

How would you approach bidding on such a coin? I don't want to over pay

 

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If you love the coin and the eye appeal is outstanding (NOT always the case by any stretch regardless of a plus or a CAC sticker IMO) then I would be prepared to pay up to 62 money for it.

If I were you I’d be checking the market for MS63’s though as you might find one around the same price that you prefer to that piece with better luster that isn’t a slider.

Also, PCGS CoinFacts Value View is your friend when evaluating what to bid.

 

A 1900's Indian Head Cent sold for around $1400 in PCGS AU58+, just because it was the only one in that grade. So, don't be surprised if you get surprised.

 

A PCGS 58+ with CAC is going to go for STRONG money. You're just going to have to decide what it is worth to you in terms of how much you love it.

You kind of answered your own question though where you believe it's a 64 that just has a touch of friction

 

Good point, the every man’s set thing. Sounds about right for an 09-S but not the others though.

 

It all depends. If it is a super slider, I would not hesitate to pay a premium but the exact amount of the premium depends on the coin.

 

The proposed next bid is close to MS62 pricing. I am leaning towards an MS63 for around $150 to $200 more than proposed next bid. $800 for MS63 and currently $610 for the AU58+ CAC

 

The coins I have (recently) spent the most money on were often more than their recently sold examples, but I wanted the coin, so I paid more. I suggest you set for yourself a point in which you would walk away and not wish you had. Put that bid in and step away.

 

I don’t put as much a premium on what I will pay for a coin because of CAC, as opposed to my opinion of the coin’s eye appeal. CAC, indicates a coin that is high in grade, but not always the best looking, in my opinion. I would rather have a beautiful MS 64 coin, than a good looking, but not spectacular MS 64 CAC any day of the week.

 

I paid up for a nicely toned Monroe Doctrine half dollar in 58+. I don't regret it. Tough coin to find.

 

How is the eye appeal. I’d rather have a eye appealing 58 cac than a lot of 63s

 

If that’s the toner I’m thinking of, that is a perfect example of an AU+ coin absolutely worth an MS premium.

 

A lot of the eye-appealing AU-58s are disappearing into MS-63 slabs, at least for the pre-1878 series.

 

@scott.french3 did you buy the coin? Either way we would all like to see it.

By the way I would prefer an AU58+ before most 63's and 64's.

 

I haven't purchased it yet. The auction is over on Sunday. I've been looking at other possibilities in the AU58 and MS63 grades.

 

Giving you really definitive answers to your question is almost impossible for me without knowing what the coin is and either seeing photos of it or better yet, seeing the coin in person.

For run of the mill coins, getting excited over an exceptional AU-58+ CAC might not be warranted. There might well be other coins out there that are just as nice that can be had for less money. If, on the other hand, the coin is hard to find, or frequently seen with eye appeal issues, paying a premium might be warranted.

I would never pay a premium for a coin just because it is unique in the grade, unless it’s THE or among the finest known. The fact that two professional graders have given it a CURRENTLY unique grade, means nothing to me.

Eye appeal and availability of other examples are the keys here. YOU really have to like it to pay the extra money. Don’t be swayed by advice from others that this is somehow a great deal if YOU are not comfortable.

 

If it's everything those bells and whistles say it is, I'll say you can't go wrong bidding it at AU64. In fact, I'll bet it has less contact marks than a MS64.

 

1901 Barber Half Dollar PCGS AU-58+ CAC https://www.greatcollections.com/Coin/704313/1901-Barber-Half-Dollar-PCGS-AU-58-CAC

This is the one I passed on.

 

I think that is a solid 58 but with obvious wear on the obverse. Too much hairlining from circulation for me to put up MS money. The luster is good though.