Large cent anyone?

[MikeInFL]

Here's the newest purchase for my redbook date set of large cents. Comments (both good AND bad) are both welcomed and appreciated....Mike

 

 

[EZ_E]

Wow! Outstanding pictures for this great coin!

[James_OldeTowne]

That's a fantastic coin. I can't think of a single negative, except that you own it, and I don't!

 

James

[Brotherman]

Mike,

 

Nice coin. What’s the grade? AU55? Please don’t be offended if I’m way off. I like to practice grading on the coins posted here.

 

Hays

[James_OldeTowne]

I'll guess the EAC grade is about VF-25 or better. That probably equates to EF/AU in commercial grading.

 

James

[Jazzy]

Hey James, why would the EAC grade this coin lower than ANA standards?

 

I can understand the logic behind grading MS coins lower if they exhibit a weak strike or late die state, but I don't see any evidence of that here - just some honest circulation rub.

[D.D.]

The coin is very nice. I really like your collection and enjoy your pics. Mike, your pics are some of the best on the net. Thanks for sharing them.

[Hoot]

I think the coin looks more like a VF35 EAC, EF45 by market standards. It's one beautiful coin, and I see it as having only some peripheral weakness of strike on the obverse, most evident in the stars. This is a very worthwhile coin and one that would fit nicely in my own collection.

 

Congrats Mike!

 

Hoot

[MikeInFL]

Thanks for the kind words, all.

 

The coin is raw and is was graded by the seller as EAC XF 45+ / XF 45. The only bad thing I can say about the coin is it is strongly priced.

 

As some of you may have guessed, the coin is an EDS example of the N-7 (R-1) variety. It is semi-prooflike and, I think, very pretty.

 

Take care...Mike

[James_OldeTowne]

((( Hey James, why would the EAC grade this coin lower than ANA standards?

 

I can understand the logic behind grading MS coins lower if they exhibit a weak strike or late die state, but I don't see any evidence of that here - just some honest circulation rub. )))

 

Jazzy, the EAC just uses different standards. They aren't "better" standards necessarily, but different than that of the ANA. Actually, looking back at the coin a second time, I think my VF-25 was indeed too low. Let me run back through my grading thoughts:

 

First, I'll guess AU-50 detail. There are two marks on the throat, and a faint mark beside S2 (star 2), and several pinprick marks at NE of ONE CENT on the reverse. Combined, I think these take off 5 points, which puts us at EF-45. There appears to be a rough patch at the second "18" in the date, and I took off another 5 points for that, which puts me at EF-40. Finally, I earlier thought this was actually a fairly weak strike for an EDS coin, so I took off another 5 points. This should put me at VF-35, which is the grade I'm changing too. If the coin is as lustrous an proof-like as stated (not apparent in the image), then I could definitely see 5 points added back on to bring us up to Choice EF.

 

In summary, I deduct 15 points from the detail (50 - 15) to come up with a net grade of VF-35, and then if we add back 5 bonus points for excellent luster, we arrive at EF-40, which is what Mike states the EAC grade was (more or less).

 

Where I messed up before was starting out at the wrong details grade. I started out at EF-40, so you can see that I ended up at VF-25 when I deducted the 15 points. The lack of detail in the stars threw me off! In retrospect, I was way off base, and my apologies to MikeInFL!

 

Back to Jazzy's question, bear in mind that an EAC grade of say VF-30 often does equate to a commercial grade of AU-50. The key is in the pricing. EAC coins are priced according to Copper Quotes by Robinson (usually abbreviated CQR), which has a different pricing structure than, say, Trends. In other words, Trends might show a values of $300 in VF-35 and $1000 AU-50, but the CQR, might show $950 in VF-35 and $3500 in AU-50. So you see why I state that an EAC grade of VF-35 equates to a commercial AU-50 grade. It's because when you grade to the different standards, you must use the corresponding price guide.

 

James

[Hoot]

Must be quite a stunner in-hand, Mike. Some of this once again goes to show how grading by a photo is plain guesswork.

 

Hoot

[Bruceswar]

nice coin.. can I eat it ? love that look

[michael]

superb coin

 

funny eac and pcgs might disagree over grADE but the prices still come out the same

 

and you do not buy coins with grades you buy and pay for coins with $$$$$

 

the more things change the more they stay the same

[TomB]

I love the coin but those red spots near the date and rear of the neck truncation might be red verdigris, though they are likely stable.

[leeg]

I'd love to own it! Nice pick up Mike!