Often while browsing ebay, I will see a coin graded BU or UNC. I get the Coin Prices magazine and I don't see any pricing for BU or UNC, but instead I see pricing for "mint state". My question is, what grade am I really getting when I get a BU or UNC coin so I can know the value in the price guide? David
A BU or Unc (Uncirculated) is a Mint State coin. But there really is no standard set for what Mint State the term is describing ie MS60 to MS65 or higher. Quite often, on ebay, these so described BU, Unc or my favorite BUNC coins are not really MS coins at all but are in fact "bunk" Dave in WV.
Be careful in reading the terms BU or Unc. While they are interchangable with each other, too many so called sellers or dealers use the term BU to mean Borderline Uncirculated. This is to confuse people only. Unc should be MS-60 to MS-62 BU should be MS-63 Choice BU should be MS-64 Gem BU should be MS-65 and better.
I would definately agree with these definitions in terms of reputable dealers. But when used on ebay and in terms of the OP, I don't think there is any uniformity at all.
This is what the terms are supposed to mean but in my experience there is a tendency for BU to mean a nice shiny MS-60 and Unc to mean a bad looking slider that may have been cleaned or whizzed. People do use these terms differently and Unc is more likely to mean MS-63 than BU.
This is the "old school" way of grading IMO. For me, and this is also how I always list any auction descri[tions and sell privately, BU means Briallant Uncirculated (which means it must have luster and of course be uncirculated, MS63 or better). UNC is of course uncirculated but lacks luster (MS63 to MS60). Grading is soooo subjectional that describing my coins in this manner has seemed to avoid grading conflicts between buyer and seller. Of course I would never sell any "questionable" graded coin, always offer a refund policy, and always provide high quality photos. Check the details of the eBay auction your viewing...
Funny how many different answers you can get to this question. Personally I've always believed that unc is unc. i.e., no wear! Technically you can take an unc coin and cut it in half...and it's still unc...damaged beyond salability, but still unc. BU to me has always been BRILLIANT unc. Same as unc, just original bright with luster. BU could be ms60 or 70 or anywhere in between. Same for unc. Choice BU typically means ms63, GEM BU typically means ms65. But remember this is how I interpret them...these same terms mean different things to different people. Many dealers and collectors will look at a slider and say something like "could get a 60 out of this". Wrongo. Any friction or wear and it'll never be MS again. We've all seen coins that were choice AU but without a small amount of rub/wear would be 65 or higher. Often these coins are more desirable than baggy 62's, for sure! Nick
Then you see terms like B.U. + or Gem B.U. ++ and you are basically talking about plus or minus points on the Sheldon Scale. All this very subjective and sometimes one person thinks it is MS65 while the next believes it is MS63. As for raw items on Ebay, if I bid, I ALWAYS deduct at least 2 to 3 points from the desciption for MS advertised coins and 5 to 10 point for circulated coins. That way, if the ad is true, I am pleasantly surprised and if not, I bought a coin that I always thought was VF30 instead of EF40. Ahhhh...the arguments on grading and the dollars gained or lost between MS63, 64, and 65 "opinions". We will be discussing it for all of my years and those to come!
Don't forget the dealers who use BU as "Buffed Up". They pass off high EF and AU coins as uncirculated. Early in the year the ANA revoked memberships of a few dealers for this type of grading. The major advertisers should be scrutinized very carefully.
I use both terms but not interchangably as they are very different. UNC - Is a coin that is not circulated, it may or may not have lustre depending upon how it was stored. There might be the odd bagmark but nothing major. BU - Is a UNC coin that has full lustre. So a brown Lincoln cent would be UNC, Red/brown would be UNC 50% Lustre etc. and a red Lincoln would be BU.
