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

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

by John Feigenbaum | Published on December 13, 2020

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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Author: John Feigenbaum

John Feigenbaum image The President, CEO and managing partner at CDN Publishing, John Feigenbaum, has been a professional numismatist since 1979. Formerly president of David Lawrence Rare Coins, John has taken on Publishing and executive responsibilities for CDN Publishing. John has written for numerous trade publications and published "The Complete Guide to Washington Quarters" in 1991. In 2014, John received the PNG Abe Kosoff Founders Award for "his steadfast dedication to the entire numismatic community".