What exactly is "Gem BU"...

So, when did they put Freddy Krueger on a coin?

 

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I think it looks more like Voldemort

 

i thought it look like fester

 

That coin has some nice luster still!

 

Looks like one from the orbital sander thread!

 

When I hear Gem BU I think MS65. What I end up seeing may be entirely different though. TC

 

My understanding has been that BU is what dealers* (see note below) put on their coins when they think it's about a MS60-63/64, but in reality you probably won't get more than a 62 and you could end up with a slider. Gem BU is supposedly just above that in the 64-66 range, but again I'd be surprised to see a 66 sold as Gem BU, when a dealer can just as well label it as Choice BU which kind of says it's above a 65 'by far'.

Note: *Now before all the dealers here jump down my throat, I'm not talking about them at all. I'm talking about some stores and such I've been in where all the raw coins are generally in 2 x 2s and labeled "BU". The bad part is that these coins generally are the lowest of the MS states, and are generally priced at what a coin at, say MS 64 or 65 might fetch. As if by saying BU (Brilliant Uncirculated) it somehow translates to the coin being brilliant, well-struck, and without noticable marks. Maybe BU should now be interpreted as 'basically uncirculated' in that if it is uncirculated, it's a low MS grade, and if it looks real nice, it's probably as slider (or basically an uncirculated coin if you ignore the slightest part of wear).

There are dealers on here and at some of the coin shows I've been at that seem to be very upfront with their grading. So can't take this generalization to mean every dealer does this. As I'm learning more about grading, it seems I am having an easier time of spotting the dealers that don't seem to know their grading. That's probably good.

 

Basically Uncirculated - it's like 'kinda pregnant'!

Interesting discussion. I think if I end up with just one or two MS65 in the roll and the rest are at least uncirculated (but not basically uncirculated) I'll be happy.

 

That is, (was), the legal definition of gem. Superb is, (was) 67. These names used to have legal meanings, but I confess I am not sure if that has been destroyed today or not.

 

Well I got the rolls a few days ago, and have selected some and sent them to be graded. Was pleasantly surprised. I'm sure the rolls were somewhat picked over, but did not seem to be excessively so. Found one that was toned a dark purple on the reverse. (???) Others mostly light tan to gold color. None of the nasty gray toning that is sometimes seen, and no spots.

Most Ikes are not high dollar but if I can score just two of three I sent in at a decent grade (76P type 1 at MS65, a 78P at MS66, or 76D type 1 at MS66) I will have paid for them all. Well, figuratively speaking, since I would not sell them anyway. I gotta say the 76P Ikes are not the mints finest hour. Mostly weak strikes that could not begin to erase all the dings in the planchet. Overall pleased with the purchase.

 

what would a pcgs coin slabbed as Gem BU grade out as?

 

you should expect AU coins from the seller. and maybe a few ms60-63.

 

or how about the popular ebay phrase: LOOK!!!!

 

My understanding is that this is yet an even cheaper grading option for bulk submitters. With a generally accepted cutoff of MS65 for Gem BU, it would basically be a no-brainer for PCGS for any modern coming straight from the mint. If a premium is put on the slabbed coin, it should only be considered to be for the protection of the coin in the holder and for a certification of being genuine, and not based at all on grade.

Now, patiently waiting for others to correct me, or further expand on my understanding...

 

This thread has me thinking I am in the twilight zone. When I hear Gem BU, the coin better be at least MS65. Heck, even the redbook has that definition. With regards to the nomenclature most accept, here is what I am used to:

MS60-63: BU
MS64: Choice BU
MS65: Gem BU
MS66-67: Premium Gem BU
MS68+: Ultra Premium Gem BU

That said, what you are going to get depends upon the reputation of the seller.

 

I agree, but the name Superb used to be used back in the day meaning a 67 or higher. I have never heard of "Premium" myself. Take it for what its worth, though. I haven't actively been in the US market for 15 years now I guess. It USED to be:

BU - 60 or higher
Choice BU - 63 or higher
Gem BU - 65 or higher
Superb Gem BU - 67 or higher

The Redbook used to have these definitions as well, but again not sure if it still does.

 

According to the 2015 Red Book, page 9:
Gem Uncirculated = MS65
Choice Uncirculated = MS63
Uncirculated = MS60

 

BU is 60-63, Ch BU is a 64, and Gem BU is definitely a 65.

 

Thank God, I thought I was losing my mind!