Technical Grade vs. Eye Appeal

In an ideal world, we would not have to choose, but more often than not, during my collecting journey, I have been forced to make this decision. Although very subjective to the coin in question, I usually choose eye-appeal. For the most part, this has served me well, but on average, the compensation in grade is only by a point in either direction. I came to this crossroads today while bidding in the Stacks Bowers world coin auction. They had two coins of the same denomination (albeit different varieties) that differed by two grades (i.e., one was a Proof 63, and the other was a 65.). There was by no means anything wrong with the Proof 65 example, but it lacked the eye appeal the Proof 63 had. I ended up pulling the trigger on the Proof 63 example and passed on the Proof 65. Usually, I would shrug this off, but I was the underbidder at a recent Heritage auction on a Proof 65 example of the same variety I just purchased from Stacks, which only sold for ~$100 more than I paid for my Proof 63 example. This decision marks a substantial deviation from my standard decision making; however, I am super happy with the purchase, and I can not wait to have it in hand. With that said, has anyone else come to similar crossroads? What did you decide, and do you have pictures?

As payment, here is a picture of the 1806 Great Britain bronzed proof Penny (P-1326) that I just won. On a side note....I hope my wife does not see the invoice for this one.

 

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You did the right thing going for eye appeal over grade. Coins with eye appeal are always popular regardless of grade whereas coins that may be technically higher graded but lack eye appeal often are hard to sell and sell at a discount.

I would bet if you took the eye appeal of the 63 and put that on the 65 and vice versa the 65 would have sold for more than a $100 more.

 

For my main collecting series, the grade is usually irrelevant to me. Eye appeal always wins out.

 

Amen!

 

Absolutely gorgeous 213-year old proof coin!

 

You make an excellent point. Both of the Proof 65s were fantastic coins with their own merits, but neither of them had the eye appeal of this coin. I doubt either of the 65s will ever sell at a discount, but your point is well taken. I imagine the eye appeal of this coin paired with the technical grade of 65 would drive this coin to the moon.

This philosophy usually guides my thinking as well, but the price difference caught me off guard. I suppose this is likely because my budget is slowly dwindling as the Holidays approach and I’m a bit more conscientious of my spending.

Thanks! We can all only hope to look this good after 213 years.

 

Sex appeal sells. Always go for what catches the eye. Many times, if the grade wasn't visible, the more attractive coin is what sells for the higher price. And is the easiest to sell when the time comes.

 

Eye appeal is #1 in my book. When I buy a coin it has to please only one person, me!

 

I would go for eye appeal also, but what if that was enhanced by cleaning? Do you value the appeal over the grade in that case? For me, what appeals to my eyes is a well-defined face on a WLH, which relates to the grade.

 

Cleaning is a different story in most cases.

 

Eye appeal over slab grade any day. Especially over the newer Market Graded Slabs.

 

Cleaning is a beast of a different nature. I do my best to avoid cleaned or "problem" coins. With that said, the label on the holder has little do with that. I have seen plenty of coins misattributed both ways, so I form my own conclusions. I would not shy from buying a coin in a "details" holder if I was confident in my judgment; however, I would likely not pay full price.

 

I have many coins in my type sets where I have gone with a lower grade example with superior eye appeal over a higher grade example. Sometimes I end up with both a high grade example and a lower grade example with better eye appeal if they are inexpensive.

There are also three or four coins in my collection where I went with higher grade examples over ones with better eye appeal, in the cases where the state of preservation was an extreme condition rarity. In those cases, I thought the state of surface preservation was unique enough to make for a more interesting type piece over one with better eye appeal.

 

But would you take a low grade coin that has had it's appearance enhanced by cleaning? I'm thinking a coin that has numerous flaws but is bright and shiny. This, I believe, is what Doug is saying when he goes for the technical grade over the eye appeal.

 

I'll get rid of a coin with ugly toning no matter the grade. Even if it's uncirculated, I don't want to look at it.

 

there’s nothing new about that

 

No I wouldn't take a low grade coin that was enhanced by cleaning. I look for well struck higher grade coins with eye (at least my eye) appeal. I'm not much into toners. Technical grade doesn't mean as much to me as eye appeal. I'd take a nice looking, well struck MS 63 coin over a heavily toned MS 65 example.

 

I'd be hard pressed to say any modern coin could be "enhanced" by cleaning, unless you're including things like dipping silver, or acetone/distilled water soaks.

But, to answer the main question: I collect 100% on eye appeal. If it's ugly, I don't buy it, period. I like high grade coins as much as the next guy, but I'll take a MS-63 with nice toning like the OP coin over an MS-65 that's covered with black spots every single time.

 

If you can't tell it was "cleaned", it wasn't.