A somewhat surprising upgrade - 1882-S Morgan Toner

I recall someone posting this coin on the PCGS BST forum when it was originally being auctioned in January in the PCGS holder, I thought the final result was strong but apparently it had a little more room after the upgrade (although with all the fees, the seller doesn't seem to have had as big of a payday). I also was a little surprised with the upgrade of 1.5 points (66 or 66+ seems more appropriate).

It started as a PCGS MS 66 CAC ($1,631.25 with fee in Jan 2023) and went to an NGC MS 67+ star ($2,337.75 with fee in Aug 2023).

https://www.greatcollections.com/Coin/1287780/1882-S-Morgan-Silver-Dollar-PCGS-MS-66-CAC-Green-Toned
https://www.greatcollections.com/Coin/1303546/1882-S-Morgan-Silver-Dollar-NGC-MS-67-Toned

 

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The surfaces are pretty clean of contact and show some nice luster, but I would expect the reverse to show more flash. At best not worthy of the star and plus.

 

To me the star is deserved. The plus and the 67, not so much.

 

Didn't the CAC at 66 take care of that? I think it has good eye appeal. I might give it a 67 In hand.

 

Clearly market-acceptable PMD.

 

Funny PMD!

 

Crazy grading. What does the Star mean?

 

Gorgeous coin! I am very familiar with this particular coin. It was originally a PCGS MS 65, back around 2015. I knew about the 66 upgrade—that was well deserved. The 67 + star is pretty lofty. If I were the grader at NGC, I would probably have gone 66+*. The plus star grade is distinctive enough for this coin. I feel that had the obverse been toned the way the reverse is, the 67+* would have been more appropriate. At any rate, since I have seen it in hand, it deserves high gem status.

 

In the simplest terms:
"NGC assigns its trademarked Star Designation to coins with exceptional eye appeal for their assigned grade"

This "exceptional eye appeal" usually breaks down into three major categories.
1. Toning (vibrant, colorful, etc)...can be very subjective
2. Intense luster or Proof-like qualities for business strikes (this includes coins that are proof-like on only one side or a coin already graded PL that is DMPL on the other side)
3. Cameo contrast for proof coins (this will usually mean coins that are cameo on only one side or a coin already designated as CAM that is DCAM on the other side)

 

It is borderline, in hand 66+, for sure. Star? Absolutely. 67 is not out of realm.

 

I think it all depends on the luster, and that means that it could already be over graded.

 

Post this on CU and see how many people lose their minds that you lost the CAC sticker

 

According to PCGS, that style holder stopped being used in 2005.

 

I did. It’s been fairly tame!

https://forums.collectors.com/discussion/1094429/a-somewhat-surprising-upgrade-a-coin-that-came-from-someone-on-this-forum

 

Why thank you