I'm on the fence about a possible trade option and wanted to get some opinions. One of my local coin shops has a '79 CC Morgan that is between XF45 - AU50 that he is willing to let go of for my 25th anniversary silver eagle set MS69 Mercanti label + $100. The CC has definetely been dipped at some point in the past, but those that have looked at it all agree that it doesn't appear to have been cleaned otherwise (no visible hairline scratches, etc). One of my long term goals is a complete set of CC's and this is a hard one to find so I don't want to pass it up but I would also be taking a chance that it wouldn't grade. Opinions would be appreciated.
If it's really in that grade, if I were looking for that coin, I would probably pay around 750 for it. Try offering the set + $50. Just my opinion.
Why risk it? If it does not grade then how much are you out? Then are you going to get one that would grade? If the coin has been dipped then it might very well come back in a genuine holder. I would not take the risk.
If sometimes dipping a coin affects the value of the coin, then why do dealers dip them? Isn't this technically altering a coin? I once showed a gentleman at a local coin shop my toned 1883 CC and he mentioned that if that were his coin, he'd dip it to get rid of the tone. He went on to say collectors don't like toning. I politely disagreed saying I thought that was technically altering it's appearance, and degrades the value. Someone explain this to me. I don't get it.
Here is one on Collectors corner for $750 already Pcgs graded 45 http://www.collectorscorner.com/Products/Item.aspx?id=11554275
Best option here, I also suggest ebaying your set for $875-950. It should move quick at that price, & you'll have a few bucks to spare.
If the coin wouldn't grade I still see it as a $600-700 coin easily so if I figure my set is valued at $750 and I give $100 I could potentially lose roughly $250 worth of value. However if the coin graded and came back an AU50, then it's a $1200-1400 coin. Some great opinions here guys, I don't want to come out of pocket too much but I like the look of the coin and it seems to be a toss up as to whether it would grade or not.
I would not trade an ASE set for a dipped coin, even though the value of the CC Morgan is a bit higher than the entire set. You can always wait and see if a better one comes up. I see it as too big a risk to take if the coin comes back body bagged by a TPG.
I am of the opinion now that anyone thinking of any Morgan priced for over $250.00 better be looking for a certified coin. The counterfeiters have got good enough to fool many of the dealers out there.
If you follow the links you can find his Phone# and work out a trade is always an option. By no means am I promoting him just to be clear
Pictures would help but that's probably impractical. You say it has been dipped. What makes you say this? If it's because luster is impaired then I would walk away. If it's because the coin has some toning and the dip is obvious from the way it cleaned up, I would walk. If it's because there is residual spotting from a less than ideal rinse, I also would walk. But if it was a gentle dip that merely removed some unattractive toning without hurting luster, and looks otherwise like many white Morgans, I would consider buying it. Is what you've been offered a good deal? Not IMO. Your 25th anniv ASE has a solid value and you should be able to find a risk-free, graded '79-CC in the XF40 range for that kind of money. Lindedad has a good point. I usually have healthy concerns about $1,000 raw coins. Lance.
My only concern is that the coin shop cannot make a definite grade, so is the guy able to verify it is not a counterfeit? I'd maybe work out a deal with him to get it slabbed, and then negotiate an offer once you know the coins grade, authenticity, and that it won't be labeled with "details."
