GTG: 1874 $3 Gold

Why do you suppose that is?

 

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Good question. I think there are several reasons. The main reason is that grading standards were changed BY COIN DEALERS. The early TPGS were blown out of the water by PCGS and NGC. Both started out fairly strict but it didn't last. Prices for coins went up and collectors were told MS coins were the best. There are not enough "true" MS coins to go around in some series such as $3. Additionally, us old guys are dying out. In another ten years, no one will be alive who graded coins when MS = NO TRACE OF WEAR.

The buyer and their PERSONAL grading standard is still in charge. That coin should not be an AU-58 by anyone's standard. Unfortunately, we can find many, many examples of over graded coins such as this in every major TPGS slab and every type of coin.

 

This is all very interesting. Thanks.

 

Now them's is fightin' words!

 

My guess is XF45 at best. And, yeah, I saw the ridiculous AU58 grade.

 

First off - that is a cool coin. We don't see many $3 pieces here.

I know I'm late to the party, but I was definitely in the 50-53 range. I think the lighting makes it looked cleaned, but I think the hairlines we see are circulation marks. Gold is very soft, and picks up marks easily. I'll be honest (and not trolling) - 58 is too high for that piece.

Your analysis of $3 grading is interesting. Thanks for your perspective!

 

physics-fan3.14, posted: " I know I'm late to the party, but I was definitely in the 50-53 range. I think the lighting makes it looked cleaned, but I think the hairlines we see are circulation marks. Gold is very soft, and picks up marks easily. I'll be honest (and not trolling) - 58 is too high for that piece."

Hairlines from circulation are very, very, rarely parallel as we see on this coin.

 

I know what you are saying, but these don't look like the type of parallel lines from cleaning - those are usually very parallel, long, and travel over the devices. These seem like the short, random sort of marks you get from circulation.

And, especially on gold, if you take a picture with a single light, all of the marks perpendicular-ish to that light are going to show very clearly. I'll bet if he moved the position of the light, you'd see a bunch of marks in a different direction. This doesn't "feel" like a cleaned coin to me, if you know what I mean.

 

I'm staying out of this one

 

I guessed ms60. Few coins in this series were sharply struck. And very, very few saw any kind of commercial circulation.

 

GeorgeM, posted: "Few coins in this series were sharply struck. And very, very few saw any kind of commercial circulation."

Then I wonder why most are found in XF/AU condition?