AU-58 + Big Auction Politics = What?

There is zip for wear at the highest point on the eagle's shoulder. It's about as ugly as they come, but I can easily see a Mint State grade for it. Wouldn't be surprised if it were a technical 65.




I'm with you.

Sort of a real MS something or other. Glad it's not mine.

I like it, she's an undercover boss

Good litmus test for the novice grader though

The former, in my opinion. First place to look on a Peace dollar is the eagle's shoulder. Everything flows from that, because it's one of the most striking wear markers on any issue. It always wears first.

Now, looking at this coin I immediately say to myself, "Uh-oh. This toning is going to make any place which doesn't have it look worn." That's the inevitable effect of really dark toning. The next thing I put in the mindset is that this is a High Relief 1921, so unless a really good strike I know the hair will "look" worn. That's spot #2 for Peace dollar wear, so it makes them rather more difficult grade.

Next thing. Toning happens in part because the microscopic irregularity of the coin's surfaces gives it a lot of square area to get a purchase; a freshly-struck coin's fields aren't as smooth as they look. The devices of a coin are less "rough" in that sense and take longer to to start toning. Circulation wear smooths out that microscopic roughness, and surfaces showing circulation wear therefore tone last of all. This is why I don't trust the originality of circulated, toned coins. Yes, they_will tone naturally, but it's far more unlikely if only because a circulated coin probably isn't going to sit still in a collection long enough to tone as a Mint State coin, preserved from the moment of issue, would.

Here we have a coin in a Mint State slab, no guarantee to any smart collector but at least a hint. Combined with what certainly looks at least in images this size to be no wear whatsoever on the shoulder, and nice even toning across all devices meaning it sat still for long enough for this to happen, I conclude it's Mint State.

If the shoulder isn't worn, the rest of the coin can't have wear so I have to look elsewhere for explanations.

Having decided it's Mint State, I and PCGS both think that toning is worth at least a full grading point deduction and likely two. This is one_ugly_coin. This is the source of my belief that there might be a Gem lurking underneath the color.

In-hand, I may well change my mind and agree with the OP. This is the unspoken rule by which all evaluations of images are governed - you can only ever grade what you see on a monitor and there's always the potential for a different look in-hand.

Without a doubt, I find Peace dollars to the most difficult to grade

AND there is always the possibility that someone opened the slab and changed the coin. Or counterfeited slab. Or just what someone liked.

thank you for that detailed explanation superdave.

so what I was mistaking for being worn was actually toning difference that is hard to pickup by picture?

i knew most coins would have a spot most likely to wear first but I wasnt aware if that spot was in perfect shape the coin would be considered uncirculated. good info and something I'mgoing to have to research.

Thanks for posting yours barryg. It does appear to be a much, much, much better looking coin.