Eye Appeal Is Everything: Why Some MS65 Coins Sell for MS67 Prices

Eye Appeal: The X-Factor in Coin Valuation

Here’s a secret that transforms good collectors into great ones: eye appeal trumps technical grade. I’ve watched MS65 coins with stunning visual presence outsell MS67 examples at auction—repeatedly. Understanding this phenomenon unlocks the next level of numismatic sophistication.

What Is Eye Appeal?

Eye appeal is the subjective “wow factor” a coin delivers at first glance. It encompasses luster quality, color, strike, surface preservation, and that indefinable quality that makes certain coins stand apart. Two coins can share identical technical characteristics yet evoke completely different emotional responses.

The Components of Eye Appeal

Luster Quality: Not just presence of luster, but its character. Deep, cartwheel luster that spins across the coin’s surface commands attention. Flat, lifeless luster—technically present but unexciting—diminishes appeal regardless of grade.

Strike Sharpness: Fully struck coins with razor-sharp details photograph beautifully and display proudly. Mushy strikes, even on high-grade coins, disappoint collectors who expect detail.

Surface Cleanliness: The absence of distracting marks, hairlines, or spots in prime focal areas. A coin can tolerate marks in less critical areas while maintaining strong eye appeal.

Color: Original, attractive color—whether brilliant or toned—enhances appeal. Dull, washed-out, or artificially bright surfaces detract.

Overall Harmony: How all elements combine into a cohesive, pleasing whole.

The Market Reality

Recent auction results demonstrate eye appeal’s power:

• An MS65 Morgan Dollar with stunning rainbow toning sold for $4,200—more than most MS67 examples of the same date
• A “CAC Gold” MS64+ Peace Dollar achieved $1,800 against a sight-unseen MS66 that struggled at $1,500
• An absolutely stunning AU58 Trade Dollar outsold a baggy MS62 of the same date by 20%

Grading Services and Eye Appeal

PCGS and NGC primarily grade on technical merits—wear, marks, luster presence. While they attempt to factor in eye appeal, the system has limitations:

• Plus grades (+): Coins showing above-average eye appeal for the grade may receive + designation
• Star designation (NGC): Exceptional eye appeal earns the star
• CAC stickers: The green bean specifically rewards eye appeal alongside technical quality

However, no grading system fully captures the “in-hand” appeal of exceptional coins.

Buying for Eye Appeal

Smart strategies for eye appeal acquisition:

1. Always buy sight-seen when possible: Photos rarely capture true eye appeal
2. Attend major shows: Heritage, Stack’s Bowers, and major conventions allow handling before purchase
3. Demand quality images: Multiple angles, various lighting, and video when available
4. Develop relationships: Dealers who know your preferences will set aside coins matching your eye appeal standards

Eye Appeal by Series

Different series emphasize different eye appeal factors:

Morgan Dollars: Look for deep, swirling cartwheel luster and clean cheeks on Liberty. The cheek is the prime focal area—marks there dramatically impact appeal.

Walking Liberty Halves: Seek coins with well-struck hands and complete head detail. The design’s complexity makes full strike coins visually superior.

Mercury Dimes: Luster quality varies enormously. Seek “blazers” with explosive luster rather than flat, lifeless examples.

Gold Indians: The incuse design shows wear differently. Premium examples retain full, original matte luster with sharp details.

The “Premium Quality” Strategy

Consider this approach: rather than buying a generic MS66 for $500, seek an MS65+ with CAC approval and exceptional eye appeal for $400. You’ll often own a more desirable coin at a lower price. The MS65+ with premium eye appeal will likely sell faster and for more money than the generic MS66 when it’s time to trade up.

Developing Your Eye

Eye appeal recognition improves with exposure:

• Handle as many coins as possible at shows
• Compare coins of the same date and grade side-by-side
• Study auction photos and results for price variance explanations
• Join collector forums where eye appeal discussions flourish

The Bottom Line

Technical grade provides the framework; eye appeal determines whether a coin truly excites. The best collections aren’t built on numbers alone—they’re curated based on visual impact. When you find that coin that makes you pause and smile, that’s eye appeal doing its work. Trust that reaction—it’s why we collect.