1928p Peace Dollar 0

[NumasticSam]

I recently won at auction what I believe will receive a ms66 or higher grade on a 1928p peace dollar. I am unsure if I should look at preservation of it prior to grading or if I should just have it graded? Has some residue in the numbers around the date and at the top of the head. All inquiries welcome. What do you think? Chance for ms66?

Edited February 10, 2021 by NumasticSam

[Mr.Bill347]

I hope this is an indication for you.

[MarkFeld]

Welcome to the forum. 
The coin has been cleaned or polished and that aside, appears to be AU, not uncirculated. Do not remove it from the holder and if at all possible, return it for a refund.

Based on that purchase, it would be wise to stop buying coins until you learn considerably more about grading.

 

[Grant Gerlinger]

It would be really hard to get a MS66 because there are only 7 known on the NGC census. I think it’s quite misleading that they put an MS66 on something that is ungraded. There is no way you could possibly guarantee the exact number it will receive. It’s much easier to be right if you choose a range such as XF, AU, etc. but even then there isn’t any guarantee. It still looks to be a good coin I just wouldn’t get my hopes of it getting that high.

[NumasticSam]

4 minutes ago, MarkFeld said:

Welcome to the forum. 
The coin has been cleaned or polished and that aside, appears to be AU, not uncirculated. Do not remove it from the holder and if at all possible, return it for a refund.

Based on that purchase, it would be wise to stop buying coins until you learn considerably more about grading.

 

Can you explain how you come to conclusion it has been polished? Not asking to be rude. Just need to learn more. I can return if needed

[MarkFeld]

3 minutes ago, Grant Gerlinger said:

It would be really hard to get a MS66 because there are only 7 known on the NGC census. I think it’s quite misleading that they put an MS66 on something that is ungraded. There is no way you could possibly guarantee the exact number it will receive. It’s much easier to be right if you choose a range such as XF, AU, etc. but even then there isn’t any guarantee. It still looks to be a good coin I just wouldn’t get my hopes of it getting that high.

Even if there were hundreds or thousands of that grade in the NGC census, it wouldn’t matter. The coin is not uncirculated and worse than that, it’s been cleaned or polished. It’s not a “good coin”. 

[MarkFeld]

8 minutes ago, NumasticSam said:

Can you explain how you come to conclusion it has been polished? Not asking to be rude. Just need to learn more. I can return if needed

I came to that conclusion because that’s what a coin that has been cleaned or polished looks like. The sheen is unnatural and doesn’t remotely resemble the look of original luster.

I realize you don’t know me. I’m a former NGC grader, however. And I wouldn’t have been nearly so outspoken if I’d had any doubts.

Don’t let the seller talk you into keeping it or exchanging it for anything else.

Edited February 10, 2021 by MarkFeld

[Grant Gerlinger]

I don’t think it would grade as an uncirculated coin. I don’t think it’s a completely horrible coin. Based on the fact that he bought it thinking it was ms he probably overpaid drastically. It is still in decent shape and it’s a low mintage coin.

[RWB]

18 minutes ago, MarkFeld said:

Welcome to the forum. 
The coin has been cleaned or polished and that aside, appears to be AU, not uncirculated. Do not remove it from the holder and if at all possible, return it for a refund.

Based on that purchase, it would be wise to stop buying coins until you learn considerably more about grading.

 

Agreed. The only thing "gem" on that are the staples. Get you money back...and get as far away from the seller as possible.

[NumasticSam]

10 minutes ago, MarkFeld said:

I came to that conclusion because that’s what a coin that has been cleaned or polished looks like. The sheen is unnatural and doesn’t remotely resemble the look of original luster.

I realize you don’t know me. I’m a former NGC grader, however. And I wouldn’t have been nearly so outspoken if I’d had any doubts.

Don’t let the seller talk you into keeping it or exchanging it for anything else.

I appreciate you telling me this. In your opinion, what is its rough value? Trying to find out if we can negotiate a price or not

[RWB]

10 minutes ago, NumasticSam said:

I appreciate you telling me this. In your opinion, what is its rough value? Trying to find out if we can negotiate a price or not

The coin is not one that it is advantageous to own. Polishing ruins coins and few collectors want a polished example. If a 1928-P is needed for a collection, most will opt for a real About Uncirculated (AU) coin. A certified AU-58 from PCGS or NGC might run about $475; your pictured coin (first post) --- maybe $300, but you'd have a lot of difficulty selling it for that. Here's an uncirculated example for comparison. Hopefully, you can see the kind of surface difference that Mark mentioned.:

Edited February 10, 2021 by RWB

[MarkFeld]

1 hour ago, NumasticSam said:

I appreciate you telling me this. In your opinion, what is its rough value? Trying to find out if we can negotiate a price or not

I hesitate to try to value it without seeing it in hand. But a number of (already graded) cleaned or polished AU examples have sold in a range of approximately $150-$200 in the past year.

I wouldn’t recommend trying to negotiate. For one reason, why would you want that coin? For another, buyers who win coins in auction and then try to negotiate a lower price are understandably looked upon with suspicion and get a bad reputation.

[BearlyHereBear]

My token PD