Let's Grade The 1796 No Stars Quarter Eagles!

Same coin AU-50, terrible picture in the PCGS holder, looks a lot better in the NGC slab image but I don't trust either image.

Personally I think it has more of a cleaned/whizzed appearance in the PCGS image.

I wouldn't attempt to grade based upon a single photo ; I'd need to see the coin in hand, with my light, in my space.
Don't think they are the same coin though, NGC is EDS, PCGS LDS.

They are the same coin. All minor defects are shown on both photo sets.

Agree they are the same. AU-53 details.

Congratulations to those who figured out that these were pictures of the same coin!

The story of this coin is sad. I first saw this piece in the mid 1990s when I was a dealer. It was in an NGC EF-45 holder and was flawless for the grade. It had the original "old gold" toning which not too dark, and had no annoying copper spots. I would have loved to have bought the coin, but there was no way I could swing it.

The dealer who owned it let me take it on consignment to show to one of my best customers. Although I don't advocate buying coins as an investment, this one had all of the earmarks of great buy. It had eye appeal; a lot of the collectors dreamed of owning one; it was perfect for the grade and the price was very viable.

My customer was not interested however. Later I would learn that he didn't like small coins, and this one was the size of dime. I had to return it. The dealer from whom I got the piece subsequently sold it.

A year or so later I saw "another" 1796 No Stars Quarter Eagle in the same dealer's case. It was in a PCGS AU-58 holder. When I took a closer look I saw that it was the same piece, but now it was covered with hairlines, and the once muted luster that had marked its originality was now replaced by a garish shine.

I asked the dealer if it was the same piece, and he told me, "Yes." He agreed with me that the coin had been messed up, but the owner had been rewarded with higher grade from a more prestigious grading service.

The second photo is not a matter lighting. I took both pictures, and the dealer, who has handled the coin at least twice collaborated my observation. This is a lesson about how greed and ignorance were rewarded, at least in my opinion.

I am the worst at grading gold.
Since there is no grade called ooohhh pretty yellow shiny! I will say
Coin #1 XF40
Coin #2 VF 20

They both looked cleaned to me, but does that mater on something so rare?

Edited to add: After reading what everyone else said, See I told you I was the worst at gold.

I could easily tell they were both pics of the same coin due to unique markers on each coin. I was wrong about their stabbing sequence and how they graded.

A regular smuck like me would have turned an XF45 coin into a VF30 coin with the kind of luck I have. Who ever did this was awfully lucky or had some inside help scoring a higher grade.

Some people cannot leave things alone.

The "booming luster syndrome," is one of the factors that drives me nuts with a lot of TPG graders. Some of them are totally obsessed with it. When some of them see a coin with luster that they do not believe is the result of polishing or whizzing, they give the coin more grading points. I have seen this happen on many occasions. They don't understand the concept about older coins that get a layer of toning on them which causes them to have more a satin finish. Instead they are totally enthralled with coins that have had that old patina stripped away for "shine" even when it results in hairlines.

As for those who thought that the first pictures were those of a VF grade early coin, you guys really need to spend more time with the ANA or similar grading guide. Most VF grade early gold coins are not attractive. They are usually beat up with a lot of surface marks in the fields. This coin could have gone into an AU-50 holder, and most specialists would not have objected to that. The center detail on that coin was not sharply struck up and a little bit of wear flattened it a little further. Overall the first picture showed an early gold coin with great eye appeal.