1881 $5 Lib

I only photo grade
My American friend has them TPG graded after he buys them
At some time he bought more then 100 coins a week as a professional coin dealer and errors in grading raw coins can be very costly
So far none of the coins we photo graded bought and submitted came back lower then we expected
We are always either one grade low or par
In fact we had a nice run of successes with Chile and Peru coins coming back between MS65 and MS67
An official grader has what ? sixty seconds to grade ? We take up to half an hour to tentatively grade and then question each other on the grade because if you like/want the coin you tend to overgrade .

A persons fingers contain fatty acids
These fatty acids will eat in metal and dull gold
We abbreviated coins that have been touched by naked hands and show it as having finger fat
Anyway attached part of his assessment of the coin were I was wrong

The reason they go to MS
rather than AU is because there is zero high point rub and full lustre even in the disturbed areas. It's the victim of bag marks and improper handling
(though gentle enough to leave the lustre intact).

the difference in lustre sheen is, as you say fingerfat, plus the flow that occurred during the strike. anyway the biggest point is the lack of any high point rub -- none whatsoever

@ silver dollar
Since I graded it AU 58 I obviously agree
But part of the lesson I did not copy from my friend is that the market needs this kind of coins in cheap MS grades and that on this type if you get out of AU because of zero rub you virtually automatically make MS 62 and in his opinion that is given the market forces ( from AU 58 to MS 62 ) it should have staid at MS 62