Info on How this coin is graded

[Spyder]

Hi 

I am interested on what others think, I stumbled across this graded coin and I was just wondering how this coin got graded AU43 (AU53) when the ribs on the dragon are so worn. 

I would have thought this would have achieved at most EF grade. 

https://www.ebay.co.uk/itm/235091726685?hash=item36bc8f115d:g:smAAAOSwuOZks8a7&amdata=enc%3AAQAIAAAA4KC39RY88731oll7qSnuGWOviWrh6AS3sXM9Dn0391AvaltS6z%2BQZ8u1spG0KBJ%2B6pdSSJN6mbUH2%2BAHFznWcqO9B%2BOj8pOWj2YTECEf2thfuJ10uFvZWS1iy5SSPMe1XVkBus8uxy8AK5lvplWxc24Uq7pTHlvPiAlfspoqMAd1Uriq9DJC3Xcidp%2FQ5sdUUdOgdp0lJNGWiN8tPrGsAGeJawn0PAd7pS46rHeTC1zzAH6c5eKpeGlB7WTOCJeX6pMTXZPJ2Hum32En7C3%2FBh6LiLy6YjJU0Dy9kS%2BrX3MH|tkp%3ABk9SR_iItoeuYg

Spyder

Edited July 20, 2023 by Spyder

[Happypanda88]

I think you meant AU53. 

I agree with you, the coin looks nothing like AU53 grade. 

Below is the NGC description of grading scale.

To me, it's more like VF35 or XF40 at best. Maybe the grader was in a very good mood on the day ! 

 

[Allgoldcoins]

This is an interesting thread as a dealer I have considered the merits of slabbing circulation sovereigns. I have watched many sell for considerable premiums that seem incorrectly graded. 

 

MS - should mean Mint State, that is a coin that has no wear, with its exact rating 60-70 being determined by the amount of abrasions or marks, edge dings, but basically as struck as far as wear is concerned.

 

AU - About Uncirculated, a small amount of wear to the highest points of the design, a rating of 50-58 determines how many of the high points show some degree of wear plus the abrasions and marks exhibited.

 

XF - Is where we start to see general clear wear to the coin and obvious signs that it has been in circulation for a period of time.

 

VF - Is a coin that has obvious wear from significant circulation, but the design itself is basically intact and quite discernible.

 

Below this grade you start to lose elements of the design itself.

 

This image is from a 1844 sovereign currently within a live auction, graded as MS-63, its currently bid is $3300 +20% =$3900 :

[Coverte]

I'm not too much into grading, as it's a big enough hassle storing all the dame packing with those few proofs and sets I buy,

but with anything else on grading @GoldDiggerDave  would be the first person I'd ask - not to say @Allgoldcoins is in anyway wrong I hasten to add, his assessment above looks spot on to me.