RMW, very nice coin.  

I was wondering: do you prefer to buy coins already graded like this one, or do you prefer to buy "raw" coins and have them graded later (with of course, the commensurate risk and reward associated with that)?

When I first started collecting, I preferred to buy coins which had already been graded , but as time has gone on, and I seem to have acquired the means to Grade for myself, I can buy raw pieces which I send in for submission, or review already- graded pieces using the assigned grade as a guide only . Graded pieces in the US seem to command a premium but as I am collecting British, in fact the majority of the best pieces have never been slabbed. For the most part, many great pieces are still in  Britain and many, if not most collectors and dealers there disdain the practice of slabbing.

More and more, I let the coin speak for itself and see enough of what I consider mistakes by the  grading services to just use them as a guide. I have developed a process that seems to worko for me to evaluate a piece on my own now, but I still submit raw pieces that I buy for conservation, insurance and other purposes.

Thanks for your thoughts, and I certainly appreciate your comments about letting the coin speak for itself.

No problem. I think that grading and evaluating coins is more of an art than a science. For the third party graders, they seem to focus more on surface quality for Unc pieces rather than other aspects such as lustre and strike, as that is easier to quantify and doesnt need as much knowledge of the issue being examined.. Certainly for someone like you, collecting ancients, strike is a major consideration with hand made pieces. It is similar with British pieces prior to the advent of steam powered machinery, first used in the Soho Mint in the 1780s and 1790s. As I get more familiar with my area of focus, sheer eye appeal is becoming more important than a mere technical grade.

As an example of that, I am aware of an Ms 64 1675 farthing, coming up for auction soon. I started by collecting farthings. I wouldnt touch that piece personally due to the (typical) poor strike, and have seen a raw 1675 farthing that would blow the Ms 64 away.