1926-S Mercury Dime - Will PCGS Straight Grade This?

When I bought this coin, other than the suspect whatever it is at the "E" in "DIME" (which chafemasterj pointed out), I just thought the reverse had a nice "circulation cameo". But learning more, I'm understanding that this kind of toning can be deemed "environmental damage" by TPGs, as many of you are suggesting.


But PCGS uses the term "toning" in their own definition of "Environmental Damage"

97 Environmental Damage - i.e. corrosion, coating (lacquer), excessively heavy toning, etc.

https://www.PCGS.com/news/no-grade-coins-pt6

97 - Environmental Damage. Environmental damage includes such problems as corrosion, excessively dark toning and verdigris. Most of these problems arise from improper storage, either in a humid, warm, or extremely bright environment, or from burial in the ground or in the sea.

One of the more interesting aspects of an Environmental Damage call concerns toning. While natural toning is simply often a product of time, and to some collectors signifies an original coin, it can take on many forms. When the toning forms in an excessively dark, splotchy and unattractive pattern, it loses appeal to a great number of dealers and collectors.

Because one of the tenants of PCGS when it was formed was "sight unseen trading," it was determined that coins which were deemed "unattractive" by a consensus of the graders would not be put into holders. A prospective bidder would likely be faced with an unpleasant surprise when he received the coin from the seller.

Shown below are three examples of what we're referring to. Sure, the toning may be natural, but even if beauty is in the eye of the beholder, there would be few eyes that would find any of these to be beautiful.

"Details" coins come in all shapes and sizes. I've seen slabbed "details" coins with beautiful obverses and only a reverse rim gouge that I felt were worth up to 80% or even more of a typical trading price depending on scarcity. This particular example is well below average (in my opinion) in eye appeal, and I would not value it at more than 30% of market value tops.

Honest question from a member looking for opinions - many of which have been offered.

I say the coin is naturally toned due to environmental damage ... and to me lacks eye appeal.

That coin is definitely ED and will get 97ed at PCGS .
Just not a very nice coin in my mind .
You could probably do much better by being selective .
I doubt that piece is a fifty dollar coin .
Also when you do the math 50 bucks us about right to certify
a single coin at PCGS these days when you factor all of your costs.
Grading fee , shipping both ways packaging cost to get to the PO etc,
These days we certify nothing unless an ANACS special , the coin is over 200
Selling price or an interesting VAM or other variety . Simply not a good use of your very hard earned dough !

Ok great , but that's $190 for a no problem EF-40 and assuming it has decent eye appeal .

IMO there's a fine line between "circulation cameo", which is something I personally enjoy, and environmental damage. To me, a lot of the coins in that thread don't have circulation cameo, but a layer of ED.

As to your coin in particular, the reverse does look like it would have potential if it were conserved. The way it looks right now is that it has a layer of crud caked onto it rather than a true "cameo"(also note the verdegris above AMERICA). But a proper conservation job would probably remove most of that and have a pretty nice look to it.

Unfortunately the obverse is not so nice, the surface is pitting due to heavy corrosion build up, there's nothing that can be done to reverse the loss of metal.

I know that the greysheet for an XF 26-S merc is $190+, but it's a conditional rarity, anything below XF and the value drops considerably, down to less than $30 even in VF. Almost every collector you ask would say they would rather own a problem free VF coin than an XF coin with ED, so you need to also use the VF price point as a reference when considering the value. You commonly see this with Morgan dollars that are conditionally rare in MS. Morgans that are slabbed UNC detail that would be worth 3-5K in even low MS sell for less than 1K, like this one:

https://coins.ha.com/itm/morgan-dol...ption-071515

From the pictures it doesn't look too heavily cleaned and would probably be a mid grade MS if it weren't, but it sells for below AU-58 value because most people would prefer an AU coin to this.


To be clear, you didn't pay an absurdly high price, probably a bit more than I would have, but not too much more. The coin has potential to be conserved IMO, there's a lot on the surface there that, if removed, would significantly increase eye appeal. The only problem is that, as coinfrog said below, it may be harder to unload than a problem free coin. I would not recommend you send it in though, it wont gain enough resale value to justify the cost.

After reading most comments here, you're probably right...but sure, stuff like this gets a pass.
https://www.greatcollections.com/Co...-AU-55-Toned

PCGS-AU-55

As far as I am aware, that is correct. There's not a real point at which it becomes ED but rather a case by case basis because after all all toning no matter how attractive is technically ED. But in general: dark, black stains = ED.




There may not be ED toning under it, like I said it may conserve nicely, but from my perspective I have to assume whatever I see on the coin is permanent.





From behind my screen, the areas I would be particularly concerned with are between S and T of TRUST, behind the head, and right on the cheek in front of the hair curl. most of that looks like corrosion rather than just toning or staining IMO. I think it would be hard to tell for sure without removing the spotting and seeing what lies beneath.

Please keep in mind I am nowhere near an expert, this is completely my opinion and I could be completely wrong.