Help!!! Should I buy an 1885 CC Morgan MS64 for $835.00

At coin show is that good Price?

 

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Can I see a picture of the coin? Does the coin appeal to you?

Telling me the grade on the slab doesn't tell me much.

 

Most 1885-CC's in MS64 go for slightly less than $835 at auction, but it's not a bad price. I'm assuming PCGS or NGC. If it has a green sticker or is in a GSA holder, it's a really good price. Of course, it depends on a thorough examination of the coin itself. For $250 more, you might get a nice MS65.

Cal

 

My phone is not uploading the pictures I took. I'm going to pass today, post pictures when I can and if there is a good consensus here go to the guys shop which is close to me and buy it.

 

I've looked long and hard at 85 CCs but haven't bought one yet. The price you quote is in the general ballpark. That date/mm isn't difficult to find so you can afford to be a bit picky, IMHO.

 

That's the best I could do with my camera at the show. If you zoom in you can see. Please let me know what you think.

 

I'd pass. This is not the strongest of 64's for a high-end price, and there are over 11,000 in that grade between PCGS and NGC, and 5000+ more in the next. The jump to MS65 is only about $200 from there....

There will be another.

 

Thanks Dave, I think I made the right move. I'll go for the MS65 If we're talking $200 more. This would be my first coin purchase over $50.00 and I want it to count.

 

Any reason on the specific date, MM, and grade?

 

Good question. I talked to a few guys at my coin club and they said it was a good coin to have that maintains it's value. I also wanted a CC. Any opinions on other Morgans in the $800-$1,100 price range would be great.

 

Yeah. That's a 63

 

Think you made a good move. Another will come along. Don't be in a hurry buying a coin with that price tag.

 

Here's mine...

 

1880's Carson City Morgans (my opinion) are a market built entirely on perception and demand. They are not at all uncommon in Mint State, thanks to the GSA sales. But demand is strong, has been all along and is not likely to diminish. 1885-CC is perceived as rarer and more valuable than some other CC's, which is also unlikely to diminish.

They're not a bad buy. Liquidity is an important consideration for someone who isn't going to reach this far in value often. Yes, for the price of an 1885-CC in MS65 you can have many other dates in MS65DMPL, with Populations only 5% of that of the 1885-CC in grade, but the Carson City coin will still be the easier sell.

 

But isn't that sorta the case for all coins. Look at the 1909-S VDB cent...it's the same story. It's a lower mintage coin but not obscenely so. You can buy one at almost any coin shop in the country yet it's value is very high. It's all because of the demand.

I would argue that the perception and the demand are the same thing. If they are very high the coin will be valuable even if they are relatively easy to find. That is the case for the 09-S VDB and many CC Morgans. They are simply incredibly popular.

The opposite is also true. Just today I purchased a coin with an extremely low mintage (estimated between 100-200). However, I only paid a few hundred dollars for it because it's a very niche piece and the collector market is so low.

 

Pass on the OP coin at $835, as it looks low-end to me. PCGS CoinFacts is a great resource for price research. You can look at comparable sales and their corresponding coins.

 

Here's one with a green bean that looks a little nicer:

http://www.ebay.com/itm/1885-CC-CAC...368715?hash=item2a7853900b:g:WYkAAOSw-0xYRHO1

 

Yeah, that's a little closer to the mark.

 

Only if you buy me one too!