Silly Question

Hello Gary,
I've always heard "gem BU" means a coin is MS65 or better. Except for specimens that may have been kept as pocket pieces or turned into jewelry, there are probably very few silver eagles that would grade as low as MS65. Unless you were confident of getting maybe MS68 or better, it probably wouldn't be worth sending one in for grading.
If your specimen truly has zero marks, it may have a shot at the top grade. You just have to be willing to pay the grading fee and take the chance. A PCGS-slabbed coin has the best potential for added value. If you send it to PCGS and get the 70, it will be worth it!

From reading I have done and internalized, when Numismatic grading was young and the Earth still cooling, there was Uncirulated and Brilliant Uncirculated. The difference didn't amount to higher or lower grade (there was only one grade for Unc coins), but rather an observation of toned/tarnished versus bright white (i.e., brilliant).

Eventually, distinctions were made between uncirculated coins of differing preservation and/or strike. Though fewer than the 11 steps currently in use: Unc, BU, Choice BU, Gem BU, (Superb BU?), Perfect.

Note that under this arrangement, a BU coin was assigned a higher grade than an Unc.

How did these qualitative grades correspond to today's numerical grading? Susan summarizes thusly:

quote:

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Originally posted by Susan

MS60-62 - Uncirculated
MS63-64 - Brilliant Uncirculated
MS65-66 - Choice Uncirculated
MS67-69 - Choice Gem Uncirculated
MS70 - Perfect

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The above is a fair representation of what I learned 25-30 years ago and what I prefer to refer to.

However, you shouldn't use these terms without being aware that common usage has changed somewhat. In the current scheme, Unc and BU are synonymous. The Coin Vaults of the world use this approach.

quote:

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Originally posted by Prethen

MS60-62 - Uncirculated or Brilliant Uncirculated (BU)
MS63-64 - Choice Uncirculated
MS65 - Gem Uncirculated
MS66-69 - Superb Gem Uncirculated
MS70 - Perfect

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Finally, how does all this apply to a coin slabbed (by NGC) as BU?

NGC began slabbing coins BU--without a numerical grade--as a way of economically authenticating a coin as uncirculated vice AU/slider.

The company uses only one grader and one finalizer for this service and consequently can offer it in bulk (e.g., to a mass marketer or television shopping network) at a rock-bottom grading fee.

AFAIK, there is absolutely no suggestion of grade above an MS-60 with their BU designation.

IMO, this service has value for Morgans and other coins for which a "slider" is significantly less expensive than an uncirculated example. But I have sparred with Rick on this subject previously.

On the other hand, I hold this service completely without value for modern coins such as ASE's and Presidential dollars straight out of tubes/rolls. If you pay a price for such a slabbed coin that exceeds its raw value, you are paying for the preservation of the slab and nothing else.

Thanks to everyone for the opinions.

I really appreciate it.

I don't plan on having the coin graded, I'm just pleased I have such a nice coin in return for a $10 postage and handling fee.

I'm not a NGC or PCGS grader, and probably never will be, but if your coin has not marks what-so-ever then it is probably a MS 69. MS 70 if you pray a lot.
Ty