How would you grade this dollar?

p.s. remember the rule of 7's. 7% per year doubles in 7 years.

 

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The coin has light wear and is poorly struck. A buffalo nickel that looks like this would grade VF at best. But the services do allow for how coins are made and this one just comes fresh out of the dies looking worn so they graded it on the light wear rather than the lack of detail. I've always been a proponent of just grading the strike and the wear.

Many clad quarters from the early years are so poorly struck that there is no definition between the tops of som of the letters or numerals and the rim. If you use technical standards to grade these they pass from uncirculated straight to AG without going through any grades in between. The same happens to a BU buffalo nickel that was struck without a full hirn; it goes straight from Unc to VF without ever being an AU or XF.

The problem is with the grading system. But this is what collectors demand; an easy way to look up the value of their coins.

 

It this case the press was so bad that the coin was incapable of being produced with any real detail, even though only 2000 were made. And then, of those, some 300 were so poor that they were restruck as 1795 coins.

Ruben

 

http://www.coinbooks.org/esylum_v07n40a03.html

 

http://www.us-coin-values-advisor.com/the-first-US-mint.html

 

http://www.gmmnut.com/gmm/gmm08.html

 

http://www.harrybassfoundation.org/basscatalogs/BASSSALE1/b1-3-a.htm

 

the dollar

Given the rarity factor, a census grading may bring an AU55

 

so, did we get a grade on the dollar yet?

 

1794 $1 au58 ngc....

 

well I wasen't far off. I said a definite AU55. Absolutely wonderful coin!

 

I posted the Heritage link. What did you think of that rare book on the presses and early coins that I posted?

Ruben

 

sorry Ruben I must have missed that. Where is again? I'm new to this site and still crawling around here.

 

http://www.cointalk.com/forum/t50795-2/#post562553

 

Please let me know where I can read and see the link. Thank you. Tom.

 

http://www.cointalk.com/forum/t50795-2/#post562553

Click on the above line

 

Oh I already gave my grade to this. I said an AU55. where is the rare book you were mentioning in your replies to me?

 

One thing to keep in mind... two different coins, selling on the same day, same grade on the slab, same TPG, can bring dramatically different prices. They can sometimes swing by 50% !

Why ?

That's what happens when people buy the coin, not the slab.

Certainly at this level of play - AU58 1794 S$1s. Nobody is blindly accepting what the slab says when throwing down half a million.

Dramatic differences in eye appeal, dramatic differences in price.

 

yes. I was just commenting earlier, it frustrates me also now, that the numismatic community now needs a third party's grader, authenticator. Far to many coins in slabs are clearly not as indicated. Where does this end.

 

It's obviously a fake so just give it to me. You really did'nt want it anyways! LOL
How does any coin with missing letters and what appears to be damage over "states" plus what appears in the photo to be pinholes from porosity grade an A.U.? Possibly because there are too few to compare it to? Just curious.:computer: