How well should "BU" coins grade if slabbed??
 

Another Newb question. I see a lot of "BU" pre-1933 gold for sale at pretty reasonable prices. (for current gold prices that is!!)
If you were to send one of these coins in to NGC or PCGS to be slabbed, how well should one reasonably expect these "BU" coins to grade??

Thanks, Bill

Re: How well should "BU" coins grade if slabbed??
 

I'd expect no better than about MS-62, maybe MS-63 on a good day. Anything better is going to be separated and TPG'd as opposed to sold as BU.

Re: How well should "BU" coins grade if slabbed??
 

anything better than MS-62 or MS-63 will be called "Gem BU" by the coin dealers.

"BU" which means brilliant uncirculated, will actually be almost anything that is without handling wear and does have some dings or bag marks. Expect to see a lot.


The dealer would have slabbed the coin if it was worth it.

Re: How well should "BU" coins grade if slabbed??
 

Who is calling the coin BU? A dealer? In my experience BU is almost meaningless. BU could very well meaned cleaned, dipped, whizzed. Or it could have a slight rub that takes it down to AU.
You just have to learn to grade yourself.

Re: How well should "BU" coins grade if slabbed??
 

So true. Having sent in over 70 gold coins I was the fortunate receiver of TWO gold coins - both $20 a saint and a liberty - with toe tags - in BODY BAGS labeled - "Altered Surface!" - from PCGS.

I still have one a 1893 Liberty that looks BEAUTIFUL UNCIRCULATED - but "whizzed" professionally!

:thumb.aspx::thumb.aspx::thumb.aspx::thumb.aspx:

Now I just BUY slabbed to save the disappointment for a few bucks more.

Re: How well should "BU" coins grade if slabbed??
 

That's what I thought.....(but I'm a cynic at heart)

Re: How well should "BU" coins grade if slabbed??
 

That said, since APMEX is generally regarded as a very honest business, could one expect them to be more fair than other dealers in describing BU vs. AU coins?

Re: How well should "BU" coins grade if slabbed??
 

Yes, I'd say APMEX will be a fair bit more conservative in describing their coins than your typical vest-pocket dealer who puts his coins in paper 2x2's and uses the AU, AU/BU, BU, BU+, BU++, etc. system.

Re: How well should "BU" coins grade if slabbed??
 

I would say, Yes!

Almost any and every Raw coin I've received from them was a 69, now I have mainly bought Modern stuff from them, but if that's any indication that they don't cherry pick absolutely everything and sell the lowest of the low, then I would say it also holds true for the BU vs AU stuff as well.

In addition, the proof has been in the pudding for me; I have sent in a good deal of these raw coins to get slabbed, and 99% came back 69's. However, in 2005 I did buy a decent amount of Canadian Silver Ounces and they were cruddy, but I do believe they were all cruddy that year and very hard to get in grades above MS65/66. Last, I have bought from other big dealers and it's always been some good stuff mixed with bottom of the barrel coins... Use them and keep us informed.

IMO I fully trust APMEX. I think many here do as well. Trust is earned and I think they have done so with me and a lot of others. The only other thing I might add is, find someone local who is HONEST and sense his/her honesty, but until then use APMEX and I bet you'll continue too. On one occasion I had a problem with an APMEX delivery, and they righted it almost immediately. Again, the proof is, and has been, in eating the pudding with this company!

Re: How well should "BU" coins grade if slabbed??
 

I would bet that most of them would grade somewhere between AU-50 and AU-59. I've seen a good number of raw pre-33 gold that I swore was MS quality, but came back in the AU-55 to 58 range.

Re: How well should "BU" coins grade if slabbed??
 

Yeah. what's with the AU/BU stuff. Either it's uncirculated or it's not. You can't have both.

That should throw up a red flag.