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<p>[QUOTE=&quot;Leadfoot, post: 264061, member: 2972&quot;]PCGS graded the coin XF 45.</p><p><br /></p><p>My subjective description of the coin:&nbsp; The coin is deeply toned and has a thick skin.&nbsp; It is a bit more dove-grey than the photos suggest, but otherwise they are an accurate representation of the coin in-hand.&nbsp; There is luster evident in all of the protected areas of the coin, but the open areas of the fields and the high points of the devices show rub and clear circulation marks.&nbsp; The rims are perfect (from what I can see), and the coin is well struck, although some weakness in Liberty&#039;s crown and on one star is noted.&nbsp; The reverse strike is strong, and the eagle shows very good detail througout.&nbsp; There are a few spots on both sides, none particularly distracting.&nbsp; There is also an old light scratch in the obverse field which has long since toned over partially obscuring it.</p><p><br /></p><p>I would grade the coin AU 50 details, scratched, net XF 45...but a ten point bonus for originality : net AU 55.&nbsp; <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" />&nbsp; The coin cost $400, which is a very strong price for this coin.&nbsp; I would have happily paid more.</p><p><br /></p><p>Some background about this issue:&nbsp; The 1874-P trade dollar is the rarest trade dollar in circulated condition.&nbsp;&nbsp; Due to the fact that they were worth more than one dollar when they were minted, virtually all of the estimated 987k were melted or exported (where they were often immediately melted or chopmarked) -- there are records that indicate 300k were melted in one month in India.&nbsp; Add to that the high percentage of extant coins which have been dipped or otherwise cleaned, and you get a feeling of just how rare a coin this is.&nbsp; Try and find another.&nbsp; Despite its rarity, the coin&#039;s value is just above that of the most common trade dollars.</p><p><br /></p><p>It is kind of an esoteric coin, that will likely never be in high demand, but one I&#039;m very excited to have acquired if for only its original looking appearance.&nbsp; I have been looking for a nice XF/AU trade dollar for several years now, and I am overjoyed to have finally filled that hole!&nbsp; The coin will soon be freed from its PCGS tomb where it will likely live out its days in a Dansco 7070.</p><p><br /></p><p>Thanks for all your comments and guesses -- I appreciate them...Mike[/QUOTE]</p><p><br /></p>

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