Do you think this coin should be CAC approved?

I was surprised to see this one with a CAC sticker. I guess technically the rim issue is not into the denticles...possible planchet flaw?

 

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Not with that huge rim ding it shouldn't I would be surprised if it did straight grade,picture of the obverse?.

 

Nice early gold coin which I’d love to own… but AU55+ ? So it’s better than a 55 but not quite a 58? I think they were a bit too optimistic. And no, it shouldn’t have CAC’ed as it’s closer to AU50/53 in my opinion.

 

The rim would bother me enough to not sticker it but it seems like JA thought it was acceptable.

 

I see a lot of these early gold quarter and half eagles with very generous grading. But even though this is an otherwise nice coin (compared to many others at around the same grade), I just think the rim ding should disqualify from CAC.

If the 55+ grade is a net grade due to the rim ding, that means the graders thought this was a 58 based upon wear. Again, I can't get down with that. And also, why would CAC give a bean to a coin that was net graded? Seems like a contradiction. But I could put a spin on it with sufficient sophistry to make it seem logical

 

If the question is whether or not it's a rim ding or planchet flaw, more close up photos would help.

 

Thats why those denticles are in the design...to discourage pilfering and pinching off gold. coins (and silver... reeds)....

 

I agree, no CAC.

 

My observation has been that CAC has gone along with grade-flation, not opposed it. This coin seems to have a lot of rub in the fields in addition to the rim nick. Twenty years ago, this would have been graded AU-50, if it had gotten a grade. I think that it should get a grade, but the rub and rim issue leaves it 5 points over graded. The AU-55 grade should mean no CAC approval.

 

CAC has been approving of net graded coins for years. When CAC just catching on, there was an early dime posted on the NGC blog. It had the attributes of an AU, but there was a problem that warranted a net grade to EF. It’s been too long for me to remember the exact grading numbers, but the coin was obviously net graded, and it got a green bean.

The controversy got so heated that CAC paid owner the difference and pull off the green sticker.

 

That rim ding was the first thing I saw. It’s very distracting and takes away from the coin.

 

Same here. I thought it was a remnant of jewelry clip they missed or perhaps something used to keep it straight in a glass locket.

 

I got it! Just turn the coin until the eagle is straight and the ding is hidden behind the prong. Problem solved!

 

Yes I thought there was a lot going on in the field as well. I think there are some people who get favoritism when THEY send something in. I am in search of a coin and have found a popular online seller who has had 2 different ones so far. Both are what I would call problem coins. Upon looking over his stock he seems to have a lot of what I would call passed problem coins. One with a large scratch across libertys head. And another had a scratch on the field. Both straight graded. The scratches were under the patina. But scratched enough that had I sent it in it wouldn't have straight graded. There was also one that appeared to have environmental damage.

 

I don't know enough about this series or any gold series for the matter, but I remember theres a 1834 large head variety and a small head variety
Large head has 6 reverse varieties, small head has 4? I'm sure someone that know the series knows what I'm talking about.

It might have the bean for it being a desirable variety in the condition its in. For sure they saw something in it that they thought was worthy.

 

It’s so hard to find original skin/tone on classic gold… it’s an easy green sticker. I once had a rare CSA variety 1861-O half. Dirty, crusty original AU58, but with a rim hit like that. It green stickered as well.

 

That is not what CAC is supposed to be about. It is supposed to approve of the BEST coins, not what is "acceptable." "Market acceptable" is not a cornerstone of the CAC mission as I understand it.

Since CAC has invalidated most of my lifelong collection in the minds of those who reject all coins without their sticker, I would expect more of them.