About Uncirculated 58 is a grade that can be confusing for
collectors. It means that a coin does not grade Mint State in that it
has some wear on the high points or a bit too much rub in the fields.
AU-58 coins can show a wide-range of quality, and many can sell for
more than lower-grade Mint State grades such as MS-60, MS-61 and MS-62.
Sometimes particularly nice AU-58 coins are called “AU-62” in that
they appear Mint State (even though they aren’t). GreatCollections.com Dec. 22, 2014, auction of
more than 70 coins graded AU-58 and with a green CAC sticker tested
The coin: 1884-S Morgan dollar, AU-58+, CAC
The price: $5,500
The story: The market considers that an AU-58+ coin with a Certified Acceptance
Corp. sticker is about as nice as an AU coin can be. This 1884-S
Morgan dollar graded Professional Coin Grading Service AU-58+, CAC,
brought $5,500 at the Dec. 21, 2014, GreatCollections.com auction of
the Capuano Morgan dollar set, and was the top coin in the collection.
In fact, it was the lone coin that sold for more than $1,000.
Like the 1886-O Morgan dollar, the 1884-S dollar is a rarity in
higher Mint State grades. For example, PCGS’s population report
records just 49 coins in MS-63, 11 dollars in MS-64 and a single
example in MS-65.
PCGS has certified six in AU-58+ compared to nearly 1,000 in AU-58.
A typical AU-58 example might bring between $1,500 and $2,000 as
evidenced by recent auctions.
An MS-60 example sold for nearly $10,000 at a Nov. 6, 2014, Heritage
auction. So, with the Capuano coin, a bidder paid nearly three times
what one would expect a “basic” AU-58 example to realize, yet paid
roughly half of what a base-level Mint State coin would sell for.
Read the rest of this Market Analysis:
AU-58 1880-S Morgan dollar actually rarer than
several Mint State grades
'Tricky' 1886-O Morgan dollar with AU-58 grade
solid alternative to Mint State purchase
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