I was looking through a coin magazine and reading ads where dealers were selling coins listing them as Choice BU, Gem BU, and Select BU rather giving them a number. I also noticed how much differance there was in price in each, and also one dealer to the next for coins each was calling CHBU,Gem etc.. If y'all don't mind try and explain the grading differance when they are listed this way. Thanks Kent
Those terms were used before the Sheldon system was formed (Number grades 1-70). So those grades don't translate perfectly to number grades but, it is something like this: BU- Refers to mint state coins MS60+, but usually the lower end coins (60,61,62). Choice BU- Usually refers to MS63, and sometimes MS64. Select BU- I've seen usually described as MS64. Gem BU- Refers to MS65. The most common place you see these terms used is in the adds for coins, like in Numismatic News and all those publications. IMO I would much rather buy a MS63 graded coin, then take a chance buying a Choice BU coin, especially when it's an add and you don't really know what you're getting.
That seems to be the problem with using those terms, they can mean pretty much whatever the seller wants them to mean. I don't usually use Select BU because IMO is not a commonly used term. BU, Choice BU, and GEM seem to be the most popular. But I have seen select BU be used to describe low grade (MS62) coins, and also higher grade (MS64) coins. Generally though Choice BU covers MS63 and 64. Here are a few examples: Rare Date Liberty Nickels from Coast To Coast Coins Here select BU is lower then choice. WHOLESALE Gold Coins - B.U. Brilliant Uncirculated Gold Coins - collectorsinternet.com But here select is higher. Lol this is why I like the Sheldon scale not many people are going to argue a 65 is lower then a 63.
If I had to guess I'd pick Coast to Coast as the dealer you are talking about. That dealer publishes a defination of the terms he uses to describe coins. That said, make darn sure what ever dealer has the coins you are looking at has a solid return policy, without restocking fees, etc. As collectors we have to be caution about self defined condition ratings of coins. You also have to watch out for clieaned or dipped coins, done to bump up the rating and the revenue. I would advise that if you really have to have that coin, make sure you can detect cleaning, and be sure there is a return policy you can live with. The best insurance you can get is to research, then research again. Check against good references, such as the TPG's sites and compare coins and grades, etc. Good Luck :smile
you can't even find a 67 unless already graded. I bought 20 proof coins and most were 64. I bought a brilliant uncirculated dollar coin, had it graded, and it was a 60 and cleaned. They refused to trade it for an uncleaned one. don't buy from apmex. not a collector, just buy a few for grandkids. found out MS is way better than proof.
You could have fooled me. I thought that "Gem BU" for the term for the very best. But then again I have lost touch with the word games since the Sheldon scale started to be used. What you see here is why the Sheldon scale came into use. The confusing nomenclature is a way to turn a sow's ear into a sink purse until you receive the coin. Then you know you have a pig.
I always was told select Bu meant near slider to low MS. Ch BU meant 63 to 64 and Gem BU meant a 65 or better. James
I have a filing cabinet full of old Coin Worlds, Coin Prices magazines etc. Just one ad by somebody called Peabody coins. Select BU Morgans $19 , Ch Bu 23, Gem Bu "call". Ad is in a Coin Prices magazine November 1978. james
I don't have any silk purses but one time I made a mistake and bought a sink purse from Auction Kings off eBay based on their photos. I returned it the day I received it. I bought a really fine coin from a private seller recently and we became online friends rather quickly. We started rattling off sellers to avoid, and to no surprise, they all matched up.
You are correct. A proof coin is expected to be near perfect. A business strike, not so much. So yes, practically speaking a high grade business strike is far more desirable than a proof strike even though the proof strike is much more satisfying to admire.
Standard BU - MS-60 to MS-61 Select BU - MS-62 Choice BU - MS-63 to MS-64 Prime BU - MS-65+ There is also the lower grades of commercial, utility, cutter and canner.
