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Rare American Coins and Why Are Some Referred to As Sliders?

I hear the term "slider" tossed around the numismatic community pretty freely. I've heard it in so many contexts that I decided to see if there is any standard accepted meaning, because slider isn't an official grading term.

One definition asserts that the term "slider" refers to the fine, light scratches across the high points of a coin's surface, caused by sliding them in and out of plastic covered album slots, coin flips, or other damaging surfaces that scratch the coin.

The term "slider" can be used to deceive the inexperienced buyer, as well as be a mark of an honest coin dealer.

A more accepted definition says a "Slider" is a coin that technically grades AU-58. It shows just the barest hint of wear on the high points, but retains almost the entire original luster.

The term "slider" comes from the commercial consideration that the coin can "slide" up in grade from AU to BU. Often less honest dealers will purchase rolls of sliders only to immediately market the coins as uncirculated or MS60+ coins.

When used by an honest rare American coin dealer, the term "slider" is reserved for a high quality AU example that could be mistaken for an MS coin by the naked, or less experienced eye. If you find a coin dealer like this, stay with them.

Nice sliders often have great luster and eye appeal, but they technically grade a point or two lower for their very slight wear. Their eye appeal can be such that they should grade AU65, rather than their lowly AU58.

If you collect for eye appeal and not just highest possible grade, a few of these "sliders" can represent great bargains compared to mint state coins, particularly in the Morgan dollar series.

A nice slider is often much more attractive than a legitimate lower grade mint state piece. I'll almost always take a nice AU58 "slider" in my collection over a banged up, bag marked or unevenly toned MS60, MS61 or MS62.

When I can't afford an MS65 coin for my collection, I'll search for a great looking AU58 to fill the spot and keep the coins looking relatively equal in quality.

These can often be purchased at a fraction of uncirculated examples. As far as how this would affect the pricing, in many cases the difference can be thousands of dollars.

Attractive AU coins are very desirable as long as you don't buy them expecting a BU coin. If you paid AU money for a BU coin, the chances are that you'll have a nice looking AU coin instead. Your AU65 coin will be a much better bargain than the similar MS65, and still look great in your collection.

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