Hello everyone. This is my first post. I work in a large private owned convenient store. I got into collecting silver b/c all my other co workers do. We like to rub it in each others face when we score a coin. A month or so ago a guy came into my store and when he pulled out some change I spotted a Morgan Dollar. I asked him what he had. He said It was a Morgan dollar his grandpa gave him. He let me look at it and I jokingly asked him did he want to sell it (assuming the answer would be no). He said I might. I offered him 15 bucks. I didnt know anything about the coin. Im new to this and all I know are war nickels, dimes, quarters and 50 cent pieces. I didnt even know if this coin was real. He said let me think about it. He came back in the next night and I asked him about the coin. He said well my friend said it was worth 26 bucks melt value. I offered him 20 bucks and he took it. I took the coin to a coin my shop in town. The man verified it was a genuine 1894 philadelphia no mint mark. He used his earth magnet, his magnifying glass and he got a book out and looked the coin over. He offered me $200. I declined his offer. I wasnt interested in selling it. He said that it was just a "hole filler" for someone b/c of it conditions. We got off topic and I never asked him what he thought it was worth. I have a couple pictures. I hope they will do.
Tough to tell from those photos, but it looks to me like there's some discoloration on the reverse, right about where an "O" mintmark would be. You would need to take it to a dealer to verify, b/c the difference between an 1894, and an 1894 O is a lot of money. For that reason, there have been many 1894 O Morgan dollars with the mint-mark removed. If it's a key date and not in a slab, always be suspicious. Either way for $20 you did OK.
The though occurred to me also, but looking in the VAM book, I couldn't find a match. Maybe in the online, but I will leave it to someone else. jim
Jim, when the VAM Book was published, there were about 1,800 Morgan & Peace varieties. There are about 5,000 now. Chris
It is the Comprehensive Catalog and Encyclopedia of Morgan and Peace Dollars by Leroy Van Allen and A. George Mallis. A Morgan or Peace dollar variety is called a VAM from the initials of the authors' last names. It has been out of print for quite a while. The 4th Edition, which was the last, was released in 1992. This is just a guess, but it would probably cost $100 or more if you can find a copy. Chris
Chris, I knew I could depend on you to check it I wish I knew why I like the paper reference books better I have the 2nd and 4th editions. Jim
