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<p>[QUOTE=&quot;GDJMSP, post: 1118383, member: 112&quot;]Basedon what I read in the OP&#039;s post the coin has no luster - and he bases that on an in hand inspection, not the pictures.</p><p><br /></p><p>Based on the pictures, as well as what the OP reports, the coin is a low grade AU that has been severely over-dipped - which is why it has no luster.</p><p><br /></p><p>But another comment that was made in this thread about a coin with luster having the cartwheel effect. Yes, that is quite true. But it is only true when the coin has full mint luster. A low AU coin on the other hand will often not have the cartwheel effect - but it will still have some luster. Even XF coins are required to have luster. But they almost never have any cartwheel effect.</p><p><br /></p><p>So, when you see an AU coin or an XF coin don&#039;t think that they have to have the cartwheel effect - they don&#039;t and they won&#039;t. The cartwheel effect is only present when the luster covers the entire face of the coin.</p><p><br /></p><p>That said, an AU coin can be correctly graded as AU when there are breaks in the luster present - but that coin may well still have the cartwheel effect.&nbsp; But the cartwheel effect alone does not make a coin BU. I often think that some people misunderstand this point.</p><p><br /></p><p>Also, when a coin with BU, AU or even XF details has no luster whatsoever it can no longer be graded period. The coin will have no grade because it has become a problem coin. Because the only way that a coin in those grades can have no luster whatsoever is when that coin has been over-dipped. And if a coin is over-dipped it is considered to be damaged - thus no grade. There are a few exceptions with some older coins.</p><p><br /></p><p>Now of course the TPGs, and those who adhere to the grading practices of the TPGs will disagree with that last paragraph. But I adhere to the grading practices of the ANA standards.[/QUOTE]</p><p><br /></p>

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