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Message:: [QUOTE="cdcda, post: 52949, member: 941"]So as not to really confuse this topic, GDJMSP is 100% dead on when he states that any coin showing wear is no longer a BU example. From a technical perspective, wear knocks the coin down to AU status, without exception. That does not however mean that a coin which has seen circulation is automatically AU, like was mentioned, it has to show wear before it gets downgraded. Think about it, do you really think all of the BU Morgan Dollars on the market today went directly from the mint to collections? Most certainly not. Further, in today's coin market grade defines the price and market for a coin. In many cases, collectors will simply refuse to buy the coin and not the holder. I believe this is why you will see top grading companies such as PCGS and NGC slab a coin with VERY MINOR and ALMOST IMPERCEPTIBLE signs of wear such as those from a pass through a counting machine as an MS60 - MS64 (in rare cases). It should be noted though, that you will often see coins in holders that show obvious wear and SHOULD NOT BE grade as MS anything. Its a tough call.[/QUOTE]