New 1832 Bustie. What you guys think?

[Keigwin]

That is a very pretty 1832 and you should enjoy owning it. Try not to get caught up in what some grader thought of it during his 10 second exam.

 

Here is another 1832, with a somewhat better strike and perhaps less rub that PCGS graded AU58. Gobs of luster.

 

I think it's a solid MS but I don't love it any less because it's in an AU holder.

Lance.

 

[physics-fan3.14]

Keigwin, absolutely beautiful CBH! And, it is accurately graded at AU-58 - notice the rub on her breast, cheek, and hair curls. No amount of fantastic color, bright luster, or strong strike will make up for wear. Yes, I'd be willing to pay a premium price for that coin (maybe even a low MS price) - which would possibly justify the market grade. But technically, that coin is circulated and the correct grade is AU.

[MBA101]

Not sure that is "Rub" on the breast. The discoloration is a low spot. The coin may have circulated in commerce, but it circulated among collectors! Depending on the obverse die state with these 32's, the cheek sticks out as a target because of high relief (on later die states like the O-113a and O-114 not so much) and if it has no wear and few hits it probably has not seen commerce. Much easier to see the luster when there is little toning!

 

I always thought the technical definition of a circulated coin was a coin that was used in commerce anyway.

 

 

[coinman1794]

I think it's safe to say there is "friction of some type" on the highest points. Whether the luster is broken or not will determine the correct grade, whether AU or MS.

[physics-fan3.14]

I think it's safe to say there is "friction of some type" on the highest points. Whether the luster is broken or not will determine the correct grade, whether AU or MS.

 

I don't understand. If there is friction, how could the luster not be broken?

[coinman1794]

The theory I operate under is as follows: Rub is caused by fingers and it dulls the luster, creating circulation wear that makes the coin grade AU. Cabinet friction and album-slide friction leave scraping, and these would count as abrasions that limit the MS grade to MS60-MS62, depending on severity. Scraped high points often appear lustrous; whether that is because the friction has removed toning (revealing the original luster), or because metal was moved and new "luster" was created, is specific to each individual case.

 

It is certainly not an easy thing to tell, but as others have said, there are other things to look for as evidence of circulation. On Bust halves, the open fields are just as susceptible to wear as the high points. Most AU58s will show mildly disrupted cartwheel, as a result. Sometimes, the only difference between AU58 and 55 is the amount of wear in the open fields. Also, circulated coins often have random "handling lines," and these are not typically seen on MS coins.

 

[physics-fan3.14]

That is a really good explanation, Doug. Thanks.