Determining Value of RAW Carson City Morgans

Discussion in 'What's it Worth' started by KingMidas, Feb 19, 2014.

  1. ROLLJUNKIE

    ROLLJUNKIE Active Member

    Someone can jump in and correct me if I'm wrong but I would think that PCGS prices include the grading fee. Subtract the grading fee from the PCGS price and that would probably give you an idea of the raw value.
     
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  3. KingMidas

    KingMidas New Member

    I also want to say nothing has offended me. I'm actually very appreciative of the help I know I'm a beginner and its nice to get advice from people who have done this a lot before I sell anything. So thanks guys.
     
  4. GDJMSP

    GDJMSP Numismatist Moderator

    As I said in my first post in this thread - you cannot know the value of any coin unless you first know the grade of that coin. You then also have to know the demand/popularity for that specific coin (in that grade), and its relative rarity.

    To answer your question of is there a price guide for raw coins ? Yes, it's called the Grey Sheet - it is the industry standard. But, it only applies to sight-seen, correctly graded and problem free coins.

    As things stand, all anybody can do is guess at the value of your coins.
     
  5. carboni7e

    carboni7e aka MonsterCoinz

    I must be in the 5%. :D
     
  6. CamaroDMD

    CamaroDMD [Insert Clever Title] Supporter

    Even then, value is not locked in. As we all know, within every grade is a broad range of quality and eye appeal. Two coins that grade MS63 might look very different and thus have different values.
     
  7. KingMidas

    KingMidas New Member

    Thanks for the help guys. On march 7th I'm going to Denver where there are a lot of coin shops. It's also my birthday and I'm getting cash instead of a gift so I can go coin shopping. I've also been saving money for months I have $1,800 saved and I'm selling my 4wheeler tomorrow for $2500 so that's $4,300 of my own money. I'm not sure how much I'm getting for my birthday probably $200-$300. So if everything works out I should have about $4,500. I've decided not to buy raw coins anymore because of the issues you guys have mentioned like over grading or problems with the coin. Should I take my raw coins and sell them at the coin shop in Denver to have more money to get more slabbed coins while I'm already there? I know I would take a loss because the coin shop pays wholesale price and the coins could be over graded or have other issues that devalue them. Or should I buy what I can with the cash and then sell my raw ones privately and take that money back to my usual coin shop and buy more slabbed coins? Denver is 8 hours away so I couldn't make it back there after I sold my raw coins, and my usual coin shop is 2 hours away and they don't have many high grade CC slabbed coins.
     
  8. KingMidas

    KingMidas New Member

    There's a gold/silver bullion store 30 minutes away that has Morgans in it sometimes I could consign them there. They hardly get CCs so they move fast and anytime I've seen a CC morgan for sale there it's always over priced by $100-$200 and they are usually gone in a week. I've never seen one in there graded higher than AU50 so I would think my coins would sell pretty fast. There are a lot of rich people there who love cc Morgans. The owner told me she's only seen 10 CCs in the 15 years she's owned it so people there think they're super rare to find especially in higher grades. Should I try that?
     
  9. GDJMSP

    GDJMSP Numismatist Moderator

    Let's back up a few steps here. Why are you buying coins to begin with ?
     
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  10. KingMidas

    KingMidas New Member

    My grandpa gave me an 1878 CC when he passed away and I'm building a personal collection. I'm not trying to buy/sell and make money I just want a full set of CC Morgans because coin collecting is something we always did together. Now I have a good job and can afford to collect coins like this instead of collecting things like quarters and what not. The plan is to eventually have a full gem set of PCGS CCs. I love the coins I'm not trying to make money at it but at the same time I don't want to be dumb and pay more than needed. I realize a gem set is going to be hard because coins like the 1889 CC cost thousands in that high of a grade.
     
  11. Jwt708

    Jwt708 Well-Known Member

    Likely you'll pay at least full retail or more for the Morgans you're after. No shame in that. This is just me but I would hold on to that one your grandpa gave you, no matter what the condition is. Also, I would sell my coins to my friend who owns a coin store. Also, patience is good too. It may take a while for you to find the "right" coin for your collection.
     
  12. KingMidas

    KingMidas New Member

    I would never sell my grandpas coin it means way too much. But the coin store friend would only pay wholesale so I might as well take them to the store in Denver when I go in that case. If I consign them at the bullion store I mentioned I could sell them at retail or even more than retail and like I said the CCs in that store fly off the shelf because they think they are so rare like I said the owner told me she's only sold 10 CCs the whole time she's owned the store.
     
  13. Lucky Cuss

    Lucky Cuss Cobrador de Plata

    Well, I'd say that although you characterize yourself as a "beginner", unlike most you have a defined goal, a plan to get there, and resources allotted for the process. Plus you're availing yourself of what educational resources are readily available to you. And it's a collection you want based on a heirloom, not just an "investment". I see nothing to be justifiably critical of. Good luck to you in your quest.
     
    Last edited: Feb 21, 2014
    Jwt708 likes this.
  14. Jwt708

    Jwt708 Well-Known Member

    Sorry man, misunderstood you.
     
  15. KingMidas

    KingMidas New Member

    Thank you. Tomorrow I'm going to go consign my coins at the gold/silver store so I can get more money out of them instead of trading them in when I buy my new PCGS ones in Denver. The extra money will help. So I'll need the luck. Hopefully they sell for a lot of money haha.
     
  16. KingMidas

    KingMidas New Member

    According to this information what price should I put on each coin? Should I just use the PCGS price guide? Do you think I should mark them up a little to compensate for the 10% fee the store takes for consigning them?
     
  17. Tom B

    Tom B TomB Everywhere Else

    Have you ever thought of simply submitting your own coins for certification? It would make them more liquid, possibly make them more valuable (if they grade at or higher than you think) and, perhaps most importantly, having the coins graded at PCGS or NGC would give you a reality check on what you have already done.
     
  18. AWORDCREATED

    AWORDCREATED Hardly Noticeable

    You and me. I can guarantee it for me. In fact I'd bet $One Million on it. Any takers?
     
  19. jerryc39

    jerryc39 Well-Known Member

    nobody would pay PCGS price guide prices for raw coins. Marking them up higher would make them sit around for a long time.
     
  20. CamaroDMD

    CamaroDMD [Insert Clever Title] Supporter

    I didn't realize people paid PCGS prices for slabbed coins. That guide always seemed high to me. Do some research online and find out what coins in those conditions sold for and use prices in that range.
     
  21. jerryc39

    jerryc39 Well-Known Member

    exactly! I agree that their prices are very optimistic. People do pay more for PCGS graded coins though than for raw coins in a comparable grade. That is what I was trying to relay to KingMidas
     
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