1893 cc graded by anacs

I do not have a picture first and foremost.
I ran across an old mans collection with a coupld hundred morgan dollars and other random coins. The 1 that really set the collection apart was an 1893 CC graded MS64 by anacs. I offered him a price and it was about $2000 off from what he wanted. I really do not know the true value of the 1893CC. It looked to be an older holder (yellow ann orange color) If someone could give me a safe value to pay for this coin not seeing it i would greatly appreciate it. I really want his collection but i don't want to pay full lbown retail.

 

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$4,000 Bluesheet wholesale price. So offer him wholesale, or try and twist his arm!

 

Thanks for the fast repsonse. IF i did not decide to keep this coin (i love collecting rare coins buy that is a little over my budget) would it be hard to sell for that price?

 

There are a couple of things you need to learn first. Be able to accurately assign a grade to a raw coin and knowing what the FMV of the coin is, for the given grade. Being prepared to make a reasonable offer will save you embarrassment in the future, not to forget that you will present the seller a clear picture of just how limited you are, which may open the door for them to take advantage of you. Gotta do your homework first . Be patient and take the time to learn . Happy New Year .

 

Well i did not know he had this coin in the collection. He kind of sprange it on me. What is FMV? I am also not huge into grading and i know it gets really picky up in the Mint State grades. what is my best bet on this deal. If the coin is reasonable worth $4000 the deal would be well worth it. I priced the coin low becasue i didn't know its real value. if $4000 is the case i could happily offer the man the price he is asking.

 

Check Heritage Auctions as well. I did a quick scan and they were mostly PCGS slabs. The prices varied between $8,000 and $12,000. You'll have to look at them yourself to check the auction dates for each piece.

 

Well this is dealer pricing for coins NOT seen. If you see it, and its a particularly nice piece, the seller may be able to get more for it.
But if you don't see it, who knows, the coin could have the ugliest toning you ever saw.
Oh, no problem gettin to it fast !

 

The coin looked great no coloring or toning. looked straight off the minting press. I have just heard rumors about anacs grading so i wasn't sure if its a true 64 or not. Thats why i ask CT members

 

The yellow/orange ANACS holders are the newer ones (The holders were first white, then blue, then yellow/orange). The grading of the yellow/orange holders tends to be a little lenient, and with the difference between a 63 and a 64 being $4000+, you would want to be certain it's a 64.

 

ok so my real question comes down to this: I know i can't tell the difference between a 63 and a 64. What is my best bet? he wants $8000 for the 200 morgans and the 1893 cc ms64 anacs. Go for it or not?

 

Sorry, FMV stands for Fair Market Value . It's really unfair to suggest to you to offer this or that, without actually seeing the coins. Even Coins encapsulated by Third Party Grading companies can be incorrect and over-graded . Your treading on a slippery slope buying items like this , for this amount of money and not having any working background in grading coins. You could really loose alot of money doing things like this. You putting yourself in a position to loose quite a bit of money. Need I say more ?

 

Without seeing the coins I really couldn't say what's a good or bad price. (Plus it's your money, so it's really up to you).

There's still a lot of variables to consider. You say he's asking $8000 for 200 Morgans plus the 1893-CC. IF it's a solid MS64, and it would cross over into a PCGS or NGC holder, it sounds like a good deal, because you're then talking about that being a $8000+ coin, and even if the 200 Morgans were culls, that's $4700 in silver value.

It could just as easily be that the '93-CC is overgraded, and maybe it's a 63 (or worse), and if all the Morgans are culls, you could lose money. Also, are you certain all the coins are genuine?

 

From all indications, the OP is in over his head here and requires the assistance of a professional appraiser before laying down any money on any part or all of the collection . Nothing more needs to be said about any of this .

 

I buy and sell morgan dollars alot. I know the 200 morgans are real. I deal mainly in lower grading coins (not culls though). All of the coins are in decent shape maybe 10 are G-4. I'm just not an expert on high dollar coins like the one we are talking about. I agree a little with coinman, but the guy i am buying from is about 85 years old and is selling his coins because he is going into an assisted living home so i don't think he'll be up for driving an hour to the nearest coin dealer.

 

Take a crash course on grading Morgans in MS via heritage. Then assess a grade to the coin and take things from there. Personally, I'm a bit of a gambler, and I'd tell him $6k (I'm assuming this is what you already offered) or nothing.

 

Well, than your the one that needs to make a decision. For any member here to suggest you buy the collection would be irresponsible at best . The most recent prices for a 1893-CC Dollar are $7,600 Bid & Ask $ 8,350 . Those prices are for a MS64 . Respectively for a MS63 $4200/$4500 So as you can see there is a significant spread between those two grades. Also note that those prices are for Dealer to Dealer . At this point , your the only one who can determine if you are making a sound investment .

 

I did offer $6000 he said $8000. There are a couple more coins in the collections a few silver eagles and some pre 64 dimes and halves. Maybe enough to go to $7000 and still be safe. I don't know if i should roll the dice or not If i would buy this collection is it a good idea to have it regraded by PCGS?

 

NO! NO! NO! Check with a dealer first to make sure it's worth it. Coins that are worth less than a few hundred bucks are just not worth it.

 

I'll go ahead and chime in hear as well with an opinion and it's just that....

How many morgans roughly are there in MS condition?
Honestly without seeing any pictures i wouldnt touch it. But since im not the one buying and you are and you feel confident in your grading abilities $8k is a decent price. If the coin is in fact im MS-64 i wouldnt hesitate, but if you dont feel confident in the fact that it's not an MS-64 then $6k is a reasonable price.

But all that said Grey sheet lists an MS-64 at $7,600 bid and MS-63 lists at $4,200 bid... as Raider said your still looking at $4,700 roughly in silver! I believe there is a place to make a huge profit on this coin and even the deal, but in order to solidify that statement i would have to see pictures! If you can get pictures posted here that would do you tons of help! If the coin is undergraded and is an MS-65 your talking $60,000! I'm a gambler and would jump on it in a heartbeat! If nothing else put it in an online auction and you should easily see $4,800 and heck throw the other 200 morgans in and i would almost gurantee you'll see a $2k-3k profit if all the coins are legit!

 

Absolutely not! I would post pics on here if you pick it up and 99% of the time you will see very honest and reliable opinions on here! Check here first!