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A 1799 Bust Dollar - An Example of How Grading Standards Change
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<p>[QUOTE="johnmilton, post: 3437249, member: 101855"]I first saw this 1799 dollar in 1979. I had just joined a local club in the Boston area, and an older gentleman brought it to a meeting. I told him that if he ever wanted to sell it, that I would be interested.</p><p><br /></p><p>About ten years later he approached me. He wanted AU money, but I told him that it was really an EF-45. We agreed to let ANACS determine the price. This was in the days when the ANA owned the company and the coins were slabbed in the little white holders.</p><p><br /></p><p>The coin came back from ANACS in an EF-45 holder. I purchased the piece for strong EF money.</p><p><br /></p><p>Jump ahead 12 years. I decided to get my collection graded. I cracked this piece out of the ANACS holder and set it to NGC via a dealer with whom I had done a lot of business as a dealer. The coin came back as an NCG AU-55. Here are photos of the piece.</p><p><br /></p><p>[ATTACH=full]912651[/ATTACH] [ATTACH=full]912652[/ATTACH]</p><p><br /></p><p>The piece has a quite a bit of luster, and is easily an AU-55 by today's standards.</p><p><br /></p><p>You can condemn me if you like, but one does have to look at the current market when you are buying coins. You should not and really can't pay tomorrow's price today. Thirty years ago this was an EF-45 according to ANACS. By this time PCGS and NGC had over taken them as the top services.</p><p><br /></p><p>We can discuss this if you like.[/QUOTE]</p><p><br /></p>
[QUOTE="johnmilton, post: 3437249, member: 101855"]I first saw this 1799 dollar in 1979. I had just joined a local club in the Boston area, and an older gentleman brought it to a meeting. I told him that if he ever wanted to sell it, that I would be interested. About ten years later he approached me. He wanted AU money, but I told him that it was really an EF-45. We agreed to let ANACS determine the price. This was in the days when the ANA owned the company and the coins were slabbed in the little white holders. The coin came back from ANACS in an EF-45 holder. I purchased the piece for strong EF money. Jump ahead 12 years. I decided to get my collection graded. I cracked this piece out of the ANACS holder and set it to NGC via a dealer with whom I had done a lot of business as a dealer. The coin came back as an NCG AU-55. Here are photos of the piece. [ATTACH=full]912651[/ATTACH] [ATTACH=full]912652[/ATTACH] The piece has a quite a bit of luster, and is easily an AU-55 by today's standards. You can condemn me if you like, but one does have to look at the current market when you are buying coins. You should not and really can't pay tomorrow's price today. Thirty years ago this was an EF-45 according to ANACS. By this time PCGS and NGC had over taken them as the top services. We can discuss this if you like.[/QUOTE]
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A 1799 Bust Dollar - An Example of How Grading Standards Change
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