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Can Something With This Flaw Be Considered " Proof 65 Or Higher? " ($50 Buffalo)

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24K's Avatar
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 Posted 07/19/2018  06:59 am Show Profile   Bookmark this topic Add 24K to your friends list Get a Link to this Message Number of Subscribers
Just picked up an otherwise beautiful coin from moderncoinmart, they advertise these things as GEM BU guaranteed to be Proof 65 or higher. While I know of course they will pick their stock for the best ones, I was curious about this tiny pitting and if it could still be classified under their guaranteed grade.

This second close up image is taken within a Mylar flip, which does make the coin look odd, that's my fault. The bag marks on the bison are correct, but any fuzziness or odd lines are a result of the flip. This just gives a better view of the spot / tiny pit.
Can-Something-With-This-Flaw-Be-Considered-“-Proof-65-Or-Higher?-“-$50-Buffalo
Can-Something-With-This-Flaw-Be-Considered-“-Proof-65-Or-Higher?-“-$50-Buffalo

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24K's Avatar
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 Posted 07/19/2018  07:03 am  Show Profile   Bookmark this reply Add 24K to your friends list Get a Link to this Reply
I tried uploading them through imgur with higher quality resolution but the system wouldn't allow me to, so I had to drastically reduce the resolution just for these pictures to upload.. they don't give the best representation of the coin, but hopefully enough to get my point across.

If anyone has any suggestions for third party uploading sites that coincommunity accepts please let me know, I thought imgur would be a safe bet.. but apparently not.
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T-BOP's Avatar
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 Posted 07/19/2018  07:48 am  Show Profile   Bookmark this reply Add T-BOP to your friends list Get a Link to this Reply
I'm by far no expert on this ,but it looks to me like a planchet flaw . you also have something going on between the two hind legs .
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BStrauss3's Avatar
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 Posted 07/19/2018  07:59 am  Show Profile   Bookmark this reply Add BStrauss3 to your friends list Get a Link to this Reply
Quick... market it as "the Moth Eaten Buffalo" ... absolutely true to life depiction of the stuffed Buffalo used as the model for the coin, INCLUDING the part eaten by moths...
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24K's Avatar
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 Posted 07/19/2018  08:28 am  Show Profile   Bookmark this reply Add 24K to your friends list Get a Link to this Reply
@T-BOP

That weird thing on the hind legs is something to do with the Mylar flip or lighting, in person its not there.

The best representation of the two pictures would be the first image, since I took it out of the flip for that picture.
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moxking's Avatar
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 Posted 07/19/2018  08:35 am  Show Profile   Bookmark this reply Add moxking to your friends list Get a Link to this Reply
65 doesn't equal perfect. It's darn nice, but the reason we have 66-70 is for even nicer examples.

That moth bite would drive me crazy. But that's not a long trip
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 Posted 07/19/2018  08:37 am  Show Profile   Bookmark this reply Add 24K to your friends list Get a Link to this Reply
Yeah just looked again to confirm under a 16x loop as well, that line at the hind legs isn't on the coin, it was an optical illusion. However that little mark / pit is.
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John1's Avatar
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 Posted 07/19/2018  09:03 am  Show Profile   Bookmark this reply Add John1 to your friends list Get a Link to this Reply
If you can return,do so. It may be the photos,but it does not even look proof. It looks business strike.
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 Posted 07/19/2018  09:11 am  Show Profile   Bookmark this reply Add 24K to your friends list Get a Link to this Reply
Contacted MCM and they said they would exchange it for a different one, I guess if I have to take the time to question it then it's probably not normal for a 2018 uncirculated coin.. at least I'd hope it's not normal as I have another one on the way too.
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 Posted 07/19/2018  09:18 am  Show Profile   Bookmark this reply Add bobby131313 to your friends list Get a Link to this Reply

Quote:
so I had to drastically reduce the resolution just for these pictures to upload..


It took me 15 seconds to edit and upload your imgur image here with no loss of resolution.

The image you tried to upload is exactly why we have a limit here. The single image you tried to upload was almost 1MB (984KB) and is 80% background and 20% coin.

Can-Something-With-This-Flaw-Be-Considered-“-Proof-65-Or-Higher?-“-$50-Buffalo
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 Posted 07/19/2018  09:22 am  Show Profile   Bookmark this reply Add 24K to your friends list Get a Link to this Reply
Thanks bobby
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SsuperDdave's Avatar
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 Posted 07/19/2018  11:00 am  Show Profile   Bookmark this reply Add SsuperDdave to your friends list Get a Link to this Reply
PCGS has graded 67,000 Gold $50 Buff Proofs. Of that number, only 266 (essentially one-third of one percent) have graded below PR69. Even with the understanding that coins submitted to PCGS are a pretty selective sample, it's not unreasonable to think that the coin here would join the other six PR65 examples in a PCGS slab. Count your blessings - I'd hate to be the person who got one of the three PR63's.

The evidence indicates to me that it's a planchet flaw rather than damage, as others have opined. That being the case, by comparison to the quality of the overwhelming majority of this issue (really, who cares about the grade of a bullion coin?) I could call it 65. Sometimes the curve forces itself.

It_is a bit bothersome that MCM would use the terms "Gem BU" and "Guaranteed Proof 65 or better" in the same writeup, though.
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24K's Avatar
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 Posted 07/19/2018  5:55 pm  Show Profile   Bookmark this reply Add 24K to your friends list Get a Link to this Reply
Hey Dave I re read the entire sales page for the coin and they don't say BU. That was my mistake. I'll just copy and paste it here since I cannot seem to edit previous messages.

They do say " This Gold Buffalo has been certified as GEM Uncirculated, which means that the coin is well-struck, in original Mint condition and at least the quality of Proof 65 or higher. "

Thanks for your response too
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BadDog's Avatar
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 Posted 07/20/2018  07:55 am  Show Profile   Bookmark this reply Add BadDog to your friends list Get a Link to this Reply

Quote:
This Gold Buffalo has been certified as GEM Uncirculated, which means that the coin is well-struck, in original Mint condition and at least the quality of Proof 65 or higher.


There's a couple of things wrong with MCMs marketing statement.

Typically, when you say a coin is certified it means it's been looked at by one of the TPGs and put into some kind of slab, not a Mylar flip. Who certified the coin? MCM?

Also, the coin is a mint state coin, not a proof (according to the filters on MCM's website, they only sell slabbed proof gold Buffalos), so indicating a minimum quality of Proof 65 doesn't make sense. Maybe it's a typo on the website and they meant to say Mint State 65? If you send the coin back, then you could point it out to them and maybe they'd change the website


Quote:
The evidence indicates to me that it's a planchet flaw rather than damage, as others have opined. That being the case, by comparison to the quality of the overwhelming majority of this issue (really, who cares about the grade of a bullion coin?) I could call it 65. Sometimes the curve forces itself.


I also agree that it looks like a planchet flaw. If it is a planchet flaw, then it probably would get a uncirculated details grade instead of a straight grade MS65.
Edited by BadDog
07/20/2018 08:03 am
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 Posted 07/21/2018  12:54 am  Show Profile   Bookmark this reply Add 24K to your friends list Get a Link to this Reply
Hey @Dog I believe you are correct regarding the proof grade.

2018 Austria 1 oz Gold Philharmonic €100 GEM BU

" What is Gem BU?

Gem Brilliant Uncirculated coins and medals are Mint State examples. They would grade at the Mint State 65 level or higher. They have excellent Mint luster and outstanding eye appeal. "
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 Posted 07/21/2018  12:56 am  Show Profile   Bookmark this reply Add 24K to your friends list Get a Link to this Reply
For some reason I cannot edit posts on mobile unless I am missing something.

I just wanted to add that the above is a different coin with a different description but same " BU Gem " title, so it's an error. I'm fine with MS, just don't like that hole in the bison. Minor bag marks I don't mind.
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