A Question On Luster...

Great question, because it's so difficult to answer in words. I'll throw out some stream-of-consciousness thoughts:

1) It's difficult (maybe impossible) to accurately describe "luster" without depending in part on "cartwheel." A lustrous coin will cartwheel. Not always to the same degree, but the two should be connected.

2) A properly-dipped coin will lose no luster. In fact, if the right coin was chosen it can actually improve perceived luster. The only dipped coin you can accurately identify is an overdipped one. That's why I'm so hesitant to recommend it as a practice, even though I'm willing to.

3) Everything you're talking about is far easier to learn if you concentrate on one series - preferably larger coins like Morgans - and learn through experience what it looks like on that specific series. You'll find the knowledge easier to obtain, and you'll also discover that what you learn can be carried over into other types. Being a Morgan guy first helped me to learn this stuff, because it's all so much easier to see on such a large coin and there are so many examples of what can happen.

That's kind of a nice description of a polished coin; it gives me the impression you have a clear picture of it in your head. It is not the effect of dipping, though. Done right, dipping will leave a coin which appears to have normal luster. Done wrong, it will leave a coin with no luster at all but excellent detail. It'll look like a matte finish. The first time you ever see one you will know exactly what you're looking at.

Eventually you'll find that is on intersting thing about coin collecting. There are numerous varities of collectors and numerous types of coins to collect. Some like all nice shinning coins. Some like dark, older looking ones. Some like error coins. Some like the variety in a Type set. Some like Albums, some like rolls and on and on and on. As you get deeper and deeper into coin collecting you'll find you too may like Luster or not. And it does become a problem as to what has been cleaned, polished, dipped, etc. too.

not to go off topic, but when you say "dip" you are talking about using chemicals that will actually remove the topmost layer on the coin right?