I'd like to find out how often you come across a coin you would consider CHOICE or well above average for the detail grade. Would any of you consider taking a coin like this to the next level and assigning it a higher net grade than detail grade or would you just inflate the detail grade. Is this the type of coin you will set aside for your special customers or do you offer it to anyone? My own experience is this. In forty years of collecting, I have just obtained my second CHOICE coin. The first was an 1837 acquired about 25 years ago for about 150% of the detail value and I just obtained an 1802 S-231 (my 7th) which I consider Choice, even though some would not for a solitary very minor rim bump at C of America. It is otherwise OUTSTANDING for the detail grade of VF25. I'm almost apologetic since I only paid about 50% of book value based on the assumption it was at least a grade overstated as most commercially graded coins are (I paid about F15 price). (The other option being that I consistantly undergrade to EAC standards from the commercial point of view). I have noticed that when I buy a CHOICE coin, I never regret it, even if I paid a significant premium like I did for the 1837. I cannot say the same for those I acquire just to fill the empty hole. Back to the subject, should I call this an VF30 or VF25 net XF40 which approximates the book value of what I think the coin is worth? It's quite different than the typical choice of whether to call it a VG7 net G4 or VG7 net Fr2. Please tell us of your circulated CHOICE finds.
Finding coins that are choice for the grade isn't all that hard. You just have to look for them. Now I'm not saying you'll find one every day, but you should have no problem finding quite a few every week. There are people who make a living doing exactly that. Question - who assigned it the grade of VF25 ?
I graded it myself using photos from the 2009 Pre Longbeach Sale as a reference for detail grading. I always grade them myself unless I see Grellman or Bland grading. Even then I watch out for net grading verses detail grading. Some graders use the double grade system and some only determine a net grade. I prefer the former.
Marks definition of choice for the grade. It is as nice as they come for the grade, but does not technically warrant a higher grade. That is choice. Now a mis-graded coin is different - I have seen very few undergraded coins, but some I thought were truly undergraded by a point. Now most of these were not worth getting graded again - but a couple I thought about trying to by and doing a cross over grading. Since the cost was justified - if I had one of these I would just hold it and get it regraded before I was to sell it. Just my humble opinion and I understand that I could have been wrong on my initial grade.
A picture is worth a thousand words. I'm still learning photography of coins, but here's my best effort. ps the die crack under the Y down in front of the nose is not a scratch.
Oddly enough, after photographing the coin, I would probably drop it to VF20. It just looks so nice in the copper that either I overlooked some minor dings or more likely, my eyes aren't good enough to make a direct observation any more. It's still a beauty though.
Actually I would say the coin has VF35 details as the TPG's grade them. But - it looks to me as if the obv may have been tooled.
This is the S-231 from the Pre Longbeach sale of September 2009. If they want it removed, I will gladly comply. It was graded VF30 and, though a little splotchy, has better detail than mine.
