ICG Cointalk special still on & a grading dilemma with a Morgan

Has anyone used the ICG Cointalk special recently?

And can counterfeit coins get slabbed in the special ICG counterfeit holder as part of the special?

I ask because I have a group of Morgans that I am debating what to do with them. From what I know, they came from a fire years ago. I was pretty sure they were all real.

With the latest increase in silver I was planning on selling (under melt/ at the price of a cull) but when the LCS tested it on their sigma device, it did not scan correctly. He mentioned something about it testing 85% silver-which sounded weird to me. Two other coin stores also had the coins fail on their sigma devices. Maybe fire damage changed the coin so that it doesn’t test properly?

Given that a real Morgan has about $40-$60+ of value (fluctuating quite a bit with spot changing) but one that does not test has $0 value, it seems like there could be value in sending the group to ICG (or Anacs) when there is a grading special (PCGS and NGC are definitely too expensive for this).

Below is one example. What would you do? Try the ICG method? Try some other dealers at a show? I don't want to just toss them if they are real.

 

Log in or Sign up to hide this ad.

Sounds like maybe the dealers are trying to recover some of their loses in the recent drop in spot prices.

 

I imagine dealers will be looking for any excuse not to buy silver in the current environment.

If a dealer is telling you a Sigma says it's "85%" silver, I'm pretty sure that means the dealer misunderstands how to use the Sigma. It can't measure the percentage of silver in a sample. It can only try to match against known signatures.

If you can, find someone with an XRF gun.

 

That is why I said the 85% sounded weird. What is unusual is that 3 different dealers all did not like the test results. However, each of them did buy some junk Franklins that I had which were normal circulated coins (not from a fire). So they were buying but none wanted the Morgans.

 

To add to the above comment, this was close to a month ago now, while prices were still increasing and before the recent drop. Plus they bought some junk Franklins.

 

Interesting. Maybe they just weren't interested perhaps. Maybe they saw it as a problem coin. Who knows. Some people are weird like that.

 

It is weird since the Franklins they bought weren't the most appealing coins either (they weren't damaged but were well circulated).

 

it is possible carbon from a fire bonded to the surface silver and could possibly throw off a sigma, but as mention sigmas seek known "contents" ie .90, .925 or .999.. I don't know if there are any lower then that... silver is not usualy debased below 90%

 

You should get more money since they are halfway to melted and thereby will cost less to refine