Trade Dollar question

[RGT]

I just received this trade dollar that is graded NGC AU58. The luster seems too weak to me for a typical AU58, but after looking at many (poor) pictures in the Heritage archives I'm not seeing much luster on any AU58s, in anybody's holder. The few that do seem to have some luster also look dipped or cleaned.

 

I've been looking for a nice original AU trade for a while and I like this coin. My concern it that I paid too much if the coin is overgraded. I'd appreciate any opinions, especialy from anyone more familiar with the luster characteristics of trade dollars.

 

[physics-fan3.14]

I don't really know anything about trade dollars (you'll have to wait for TDN for that) but darker toning, like yours, generally impedes luster. A "crusty" coin often appears to have dim luster.

[MarkFeld]

From the images it looks OK to me. If you had posted it without telling us the grade, I would have guessed either 55 or 58, and I'd say the same about most 58's. And I agree with you that it's preferable to a dipped white one.

[TomB]

It's far nicer than most AU58 Trade dollars on the market and far nicer than many MS60-62 Trade dollars, too. The luster is obvious on the coin, but of course is somewhat muted or mossy from the deep toning. I like the coin quite a bit as a Ch AU, but I guess what you paid for it would depend if you overpaid.

[RGT]

Thanks for the comments. I haven't looked at many Trade dollars in hand and this is only the third that I have owned. I typically expect an AU58 of any coin to have strong luster. Even allowing for the tone I thought this one may be coming up short. But after looking at many coin images in the Heritage archives I was thinking what you said, Tom. Most of the ones I saw had been messed with and some of the original looking ones looked worse than this one.

 

My mind was already starting to shift towards keeping the coin but I decided to get some more knowledgable opinions first. I guess outside of TDN I couldn't ask for two better opinions on this topic (no offesnse Jason, and I do appreciate your comment).

 

I won the coin on eBay at a closing price of $455, but I used a 10% off coupon so I'm into it around $410. That's a fair price (or maybe even a bit cheap) for an AU58. As I said, I like the coin, I just didn't want to always feel like I had bought an overgraded coin.

[MarkFeld]

I think $455 was very cheap, especially for what looks to be a nice coin. Congratulations.

[realone]

Considering that $400 or so buys in this day and age 8 bags of groceries that is gone in one week I can definitely say that you did quite well with something that is going to last a lot longer and is a lot prettier than paper bags.

[James_OldeTowne]

For me personally, the coin is overgraded. Granted, the exceptionally original quality adds a premium, but I would have guessed no higher than AU-50. That said, maybe the luster is better in hand...

[physics-fan3.14]

(no offesnse Jason, and I do appreciate your comment).

 

None taken. Compared to TomB's and Mark Feld's knowledge and experience, I'm just a young whippersnapper. Give me 20 more years, though....

[michael]

for me the coin is a wonderful crusty totally original coin

 

i am almost sure but woujld need to see it sight seen to be 100% positive but i am 99% sure from the photos

 

iyt is wonderful and truly scarce as in three years i have yet to see an original non dipped crusty perfect gem circ coin

 

the coin of course has subdued lustre due to the think skin and crust original crust on the surfaces and yes it is overgraded the coin is only au50+ in my minds eye

 

but with the originality and crust i do not mind the holder or grade as myself as it is meaningless for a coin like this one

 

when all is said and done personally i grade this coin around $450.00

[michael]

also it is not really replaceable without much looking over many many shows for a couple of years and then even; EVEN if you find another for the same coin for less money when added in all the costs of looking for the coin it will wind up costing you 500++

[MikeKing]

i have to agree with michael. the coin is beautiful, absolutely beautiful, and you'd be hard pressed to find another like it.

[jgrinz]

Well I found its PHILADELPHIA brother. TO compare, this one is a MS60, and you can see that the high points are a little less rubbed than on your coin and yours does have a small scratch at liberty's nose.I think you have a wonderful original coin there comparing it to the tone on this coin being about the same and I think that dollarwise you did well too.

This coin sold at B&M in February for $750 finger prints and all

Congrats ..

 

[RI AL]

Good morning, RGT. You have one handsome coin there! I whipped out my ANA grading guide and Photograde (OK, guys...stop groaning ) and did a bit of comparing. I think AU 58 was a little generous and I am going to try to post a photo of my PCGS AU 50 for comparison. Now, my coin is an old green label but this coin seems to show less evidence of wear on the highpoints. I believe that this is a good example of how much more rigid the green label days were. As always, please excuse the poor quality photo.

 

RI AL

 

 

[RGT]

Thanks for the additional comments. I have to agree that the coin seems overgaded. My first reaction when I saw the coin was that it was a nice attractive original coin. When I looked closer I thought it should have graded more in the AU53-55 level. It does have luster but it is muted by the tone and takes a strong light to see.

 

I decided to keep the coin even if it is technically overgraded because, as others have said, it may take me a long time to find another at this grade and price level that hasn't been messed with.

[James_OldeTowne]

That, and after all, it may be another case of "market grading". One thing's for sure, I'd rather have your crusty beauty than a colorless slider!