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<p>[QUOTE=&quot;ToughCOINS, post: 13294919, member: 20480&quot;]I&#039;m not sure I completely agree.</p><p><br /></p><p>If only one 1921 Peace Dollar had been minted, and the high spots were lacking luster, would you grade it as AU, or would you more likely grade it XF?&nbsp; </p><p><br /></p><p>So much of the intended design is evident, despite being absent from the coin, simply because one can see the flattening of the design where metal ceased flowing into the recesses of the dies.&nbsp; </p><p><br /></p><p>A mint state coin will possess luster even on the flat high points, but a barely circulated coin will lack luster in those areas.&nbsp; </p><p><br /></p><p>Technically, one should then look to the fields for signs of wear, but some do not grade this way.&nbsp; We&#039;ve seen that before.</p><p><br /></p><p>Forgetting to use the fields to determine if the coin has been circulated, one then might very reasonably deduce that the lack of luster on the high spots and the amount of flattening of the design in those areas points to an XF grade . . . certainly the wrong conclusion for such a coin.</p><p><br /></p><p>Admittedly, the 1921 Peace Dollar is an extreme example, but suitably illustrative for this thread.[/QUOTE]</p><p><br /></p>

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