Peter M. Writes: I recently purchased an 1883 CC Morgan which was designated as “BU” – what does the BU stand for and how do I determine its value since BU is not listed as a grade in the Red Book? Thank you.
BU” stands for Brilliant Uncirculated. The term is defined as coin with no trace of wear but might have moderate bag marks (from banging against other coins in the canvas bags in which coins travel when transported from the Mints). It is roughly equivalent to MS60 (Mint State).