Thread: What is a 1880 S Morgan 1D NES MS67 worth?

This is a coin that I spent way too much for. I took it to a local shop and they said it is only worth $12.50. Do I need to have it repackaged with a NGC rating or is it worth something with the NES rating? The shop told me it would cost $38.00 to have it reappraised and put into a NGC package. I am new at this and would like to invest in more Morgans - they are really beautiful, but don't want to put the extra money into repackaging. Is there a market for any NES evaulated coins?

Originally Posted by ten-cents

I'd pay bullion for that coin. Unfortunately, it looks dipped/polished and has AU details. NES is not a reputable grader. I hope you do your research before investing in any more coins; learn how to spot cleaned or fake coins.

What makes you think that coin is polished. I see a mint state common date Morgan Dollar. It is not out of the realm that the coin is actually an MS64 in that MS67 NES holder.

Looking at the photo, I suspect it is in the MS63-64 range unless the reverse is a real hummer. As such it would not be worth re grading. I am a little curious why the shop wouldn't tell you what they informally thought the grade was. With your stated interest in starting a Morgan collection, here are some possibilities. 1. Use this as the first coin and keep it in the holder to remind you of the need for gaining knowledge and reference capability. Don't feel bad about this coin. If it gives you the drive to be very careful and to know what you are doing, the full price will actually be a small price to pay for the future. Check to see if there are any coin clubs nearby. They can give you advice, support, and maybe even some nice coins. 2. Break it out of the holder and sell it as is. You might only get $20, but it is out of your sight. 3. Break it out and put it in an album and tell no one of your deed.4. Take it in holder to a coin show and ask for offers. Tell them you realize it isn't close to a MS67. If I was sitting there and someone asked me what I would offer, I would decline to offer if I thought you thought it really was a MS-67 and worth several hundred.

personally I would take door #1, as my first Morgan was almost 40 years ago and no slabbing company was available then so I bought an AU slider as a MS-63. I still have it as I like to remember the wonderful and interesting journey it led me. Good luck, stick around!

Jim