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A classic misrepresentation seen frequently today

4 posts in this topic

To wit:

 .…but upon the remark being made that they were beautiful pieces, and perfectly uncirculated, I denied that this observation was correct in regard to the first one, when I was told that it was uncirculated for so rare a Coin, by a party in whose judgment I had placed more confidence than to suppose he would think it necessary to make anything so like an apology for a piece being misrepresented. The pieces were allowed to be withdrawn.

[To: Dr. Charles E. Anthon from Edward Cogan November 6, 1868 regarding misrepresentation at Randall sale October 1868. AJN. p.55.]

Got any AU coins in Unc holders....?


Edited by RWB
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  • Member: Seasoned Veteran

A frequent comment in auction catalogs of the 19th Century was "proof for so rare a coin," suggesting that rarity made a circulation issue into a proof. The term was misused as a measure of quality rather than a method of manufacture.

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IMO we see something like this today in the grading of 18th century coins, .I'm shopping for a nice wreath cent for my type set and there is a very noticeable difference in, let's call it eye appeal, within a given numerical grade. The justification no doubt has to do with "as minted" considerations as well as the "charming" nature of these relatively crude old coins, which I agree with to an extent. Perhaps a different method of grading should be applied to these early issues which are plagued with planchet, environmental, and striking issues, perhaps something more like the way ancients are graded or simply described. Perhaps describe as genuine and not altered, or perhaps net graded as well for those who are unable to trust their own eyes.

I've also seen hints that very rare coins are given a numerical grading break as well, although the numerical grade for these mega coins may be largely irrelevant. 

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