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Letters to the Editor: Can the value for AU58 be the same as MS60?

by John Feigenbaum

Published on December 17, 2020

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AU58 coins are desirable and can often be more valuable than low-end uncirculated coins of the same date for several reasons.

Editorial Pricing U.S. Coins Letters to the Editor

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This 1928-S Walking Liberty half dollar sold for $1,620 at Heritage Auctions in September 2020, well above the MS61 Greysheet value at that time.

Q: Are the two CPG prices for the 1928-S WLH correct being the same price? AU58 $1,620.00 MS60 $1,620.00 

A: Many AU58’s (in most US coin series) trade for more than MS60 for a variety of reasons. First, Registry sets are divided into circulated (Poor-1 to AU58, MS60-MS70, etc) and AU58's represent the top grade for the circulated grade, where MS60 is the lowest in the uncirculated strata, often adding extra demand for the 58's. Without the registry influence, many people realize that a choice "slider" (the common term for AU58) can be a nice uncirculated coin, like MS62-64 grade, that has experience the slightest amount of cabinet friction or "rub" thus rendering it AU58. So these coins may exhibit fewer marks and have strictly nicer eye appeal than an MS60-61 coin.

At Greysheet & CPG, we make a policy to never exceed MS60 with AU58 levels, so in the case of they 1928-S Walker they were tied in value. In reviewing this issue we were able to evaluate a higher price for MS60, so they are no longer tied. You can find it here: 1928-S 50c Walking Liberty half dollar



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Comments (2)

  • avatar image
    Thomas Lobb

    Could AU58 be the grade of the future? If you want a coin with eye appeal, forget MS60 and buy AU58. Maybe even save some money.

    Saturday, December 19, 2020 2:57 PM EST

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  • avatar image
    Earl Higgins

    It's a good question, but I think the answer is obvious. Think about it. If the coin were worth more as AU-58 then it's worth as MS-60, wouldn't you just break it out of the holder and rub it a little bit and resubmit it to get the new, more valuable AU-58 grade? That makes no sense. I think Greysheet is doing the right thing by not allowing AU-58 prices to be higher than those of MS-60. I think it's far more logical that the apparent contradiction is explained easily by fluctuations in the market rather than actual value added when you decrease the grade.

    Saturday, December 19, 2020 2:33 PM EST

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    • avatar image
      Harold & Jan P. Kritzman

      In a series, such as the Walkers and Mercury dimes, where the completeness of strike can add considerable rarity and thus desireability to the coin, a fully struck, AU58 (Super Slider) should command a far higher price than an average stuck and relatively more common, MS example. As examples: fully split band, 1918-D, 1919-D and 1945 Mercury dimes in AU58 are, in my opinion, worth far more than even MS63-64 examples of those dates with their typically flat, non-divided bands.

      Sunday, December 20, 2020 1:41 PM EST


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