[CLOSED] Most Under Graded Coin

I always thought $10=half eagle. Palmface.

 

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Dur no I didn't $10=eagle
$20=Double.
Imisspoke

 

Either way I say your coin is worth $1500 if AU58, because it's a superb example with lots of luster, or $15,000 if it's MS, because at todays standards it's an MS 63 at worst. I can't make the distinction between AU and MS unless in person. That's adjusted from actual auction result prices.

 

Unfortunately, your coin is OVERGRADED as a 45 not undergraded. It is much closer to an XF-40 than to an AU.

This statement is 100% false and should demonstrate to anyone reading it that you know NOTHING about grading coins!

I suggest you do some reading about the differences between MS grades. Actually, you should probably include XF's and AU's.

We are all here to help each other. If you PM me, I'll give you some suggested reading to improve your skills.

 

I appreciate the offer, and I may take you up on it. Did you look at the pics of the other graded coins? Have you looked at the pics I posted? The ones of the other graded examples? Here is another example. I think you should offer the guys at the 'professional' grading places some reading material. I know where the high points are on a coin, and I can tell the difference between weak strike and wear. My coin suffers from a weak strike, I know you can't really tell weak strike from the pics, but it still keeps up with the likes of this. My coin has a whole lot of mint lustre, show me an XF 45 coin that has mint lustre and I'll show you a coin that's been rubbed across a whetstone. Remember I didn't grade these coins, I just expect the same or better grade than them if my coin is in better condition. I hope page one of the reading material says it's nearly impossible to grade a coin through a picture taken with a stupidphone. That's why grading companies were started, so that sight unseen trading is safer. I might not be the best grader, but I have good eyes, and I can tell when one coin has more wear than another.

 

Can you tell that this coin may be MS? It isn't graded, but it will be soon. Is it XF 40? Sure looks like it at first, but in a picture you can't see the whole story. Hint, also a weak strike. I have a lot of weakly struck coins.

 

Oddly enough if you look closely at the eagles neck the VAM 6 die polishing line is there, but super dave noticed that on the obv the date is slightly left of the normal VAM 6. That's a trick of the light. In person the date is exactly where it should be for VAM 6. Micro o in case you didn't notice.

 

I should not have posted in this thread... @Insider please send him a red book ;-)

 

I have a red book, the people who graded all the pics I posted of AU 55 $10 are the ones who never saw a red book. How about the one who graded this coin? Eagles talons are worn to nothing, the shield is flat with the feathers, and the wings are worn heavily. I think this coin is graded fine, just a weak strike. Maybe I'm wrong and he/she needs a red book as well.

 

No one needs to know how to grade a coin anymore, all they have to know if collecting is, what's it worth to me? And all they have to know to buy and sell is sell it for more than I paid for it adjusted for inflation, and don't pay more than the going rate for a slabbed coin that looks the same regardless of any numbers on a plastic block. Believe me if I could argue with the grading companies and get them to regrade all the travesties pictured so that my coin isn't devalued I would. I wonder how many of the coins pictured would come back graded lower if re submitted. Probably not a one as it would cost the company monies.

 

Before I forget, welcome to CT. I'm sure your posts will liven this place up.

Good point! Looks like that is true for many people.

The Red Book is not used for grading anymore by any knowledgeable collectors. Fifty-five or more years ago, the short descriptions for each grade found in the Red Book were a good guide for beginners who knew nothing about coins. You are much smarter about coins and have demonstrated your complete knowledge of the subject. You may wish to buy a copy of the ANA Grading Guide and read the introduction. Perhaps you can write the editor of that book and suggest any ideas for changes you may have.

I have decided to add you to the members I follow as you have become one of my favorite posters.

 

Thanks for your grading instruction and the the hint; however, your coin does not look XF to anyone who knows how to grade.

Furthermore, when you get that grading guide, you may discover how the TPGS dummies who teach the ANA basic and advanced grading classes describe a coin's "strike." This coin is not weakly struck!. Actually, it has a "flat strike."

There is a BIG difference.

 

Had you been dwelling on that for a whole month?

 

Yep, an educated collector is a joy to post with. One day, with study and experience, you might be one. BTW, age has no bearing.

This weekend at a show I was looking at some coins with another dealer at a table and a little kid stopped by and said he had some coins. He reached into his bag and produced several amazing type coins and started to tell us all about their designer and why the coins were so significant at their time of issue. The kid was very knowledgeable and well spoken. One dealer asked him how old he was and he said eight. I asked if his parents were around and he said no but his grandfather was in another aisle. I gave my phone number to them and made sure they would be at the ANA show as I am going to introduce him to several of the major dealers and do my best to get him a scholarship to Summer Seminar. I could tell in a very short time that he already knew more about grading coins than 50% of the dealers there. We asked if his father was one of the dealers and how he knew so much - who had taught him. His answer was that he taught himself! With the proper mentors, I expect this kid to be in the next generation of great coin dealers. His grandfather realizes how smart he is an how he retains knowledge. Last month, after one day at a sea shell show his grandson had learned all the shell types and could rattle off the names of specific specimens. Probably not in Latin but I was not there so who knows.

 

I wish you had because now I need to reply and you will be a much more competent opponent.

1. The OP said yesterday's MS-62 can be today's MS-66!
Anyone who believes this is uninformed and probably should be collecting clothes pins, marbles, or something besides coins.
As I wrote, His statement is 100% false. The standard for 62's is extremely different from the standards for MS-66 - in fact so different that even with extreme "gradeflation" they will NEVER get close.

2. The way you have set a trap by changing his statement is very educational:

"Suppose we worded that a bit differently, something like: it is not unusual in today's world for a coin to be graded 4 grades higher than it should be."

The answer to this is of course YES. It has happened in the past and continues to happen today! However, in reality it can only happen at the AU - MS line.

If I have a well struck, fully original, coin with only a few tiny and insignificant marks; yet a very slight amount of friction on the highest points of the design, many old timers will believe the coin is a choice AU (AU-58). They would be correct. Other graders (old timers, young'uns, market graders, TPG's, and those who cannot see the friction would grade the coin in the MS-65 or 66 range. They would also be correct! So, it is even possible for a coin to be graded with a 5-6 point difference! This does not occur in the circulated grades. It can only occur at the AU-MS line with knowledgeable graders/dealers. More commonly, coins that were once considered AU are now graded MS-62. Another grade jump.

Problem is, there is no problem. The market makers, TPGS, and younger collectors who learned the "new ways" run the place now and what ever the old timers think does not matter outside of a Basic Grading Seminar where it is important to teach strict technical standards (rub = always AU) and then allow the students to adjust to the real world (rub = low MS in many cases).

 

Thanks, I'll take 'em; but you may be sorry for that. I started a new thread about "props" and decided to delete it.

 

I use my Brown and Dunn "A Guide To The Grading Of United States Coins"

 

You better be joking!