I reached a point where I thought I would not achieve my ambition of a complete run of Morgan Dollars and in January traded all my graded Morgans for a gold shipwreck coin. I held back 50 ungraded coins as bullion and because I wanted to keep them as iconic coins. A couple of weeks ago I did a stupid thing. I saw a Morgan Dollar mint case over here in the UK with no bids on it and bought it for $20.00. I thought I would fill it with ungraded coins for novelty and a hand me down. I then decided that what I really needed to do was fill it with graded coins.... This is where it turns bad. This is the case. Of course my first coin had to be a Carson City Dollar. I've visited Carson City, read all about the USA Potosi and needed one. I traded several slabbed Carson City coins but always liked the GSA Hoard coins and regretted trading my GSA MS 64 coin. I love the history of the GSA release and it’s the ultimate numismatic paradox: a "corrupt" administration providing the gold (well, silver) standard for provenance and fair dealing in the coin market. I decided to buy one for the case. BIG MISTAKE. In my youthful enthusiasm ( I turned 70 last week) I made an offer on a GSA coin at a great price that was accepted and it turned up today. Slight problem with the slab size and no chance it will fit. I would love some ideas on a run of graded coins from the question of affordability and possibility. I know Denver will be out of sequence but I could for example go for a 1879 to 1873 run. Any ideas for an affordable high grade run? I have a fair few raw coins I could consider grading and this is where in the past it turned sour for me. I've had a few coins come back as detailed which made them probably worth less than the grading fee. My grading skills on USA coins is about as useful as a dog lover being seconded to judge a horse show and I've had some embarrassments in the past. This is what I have left and I have picked out two coins and wondered if they are worth grading ( they were all bought at gun shows and no more than $50 each) or should I simply buy pre-graded slabs in the run folk suggest ? These are the coins I picked out.I chose them because they have cartwheel lustre and good eagle feather breasts. If you can't suggest a grade from my admittedly poor photography I will try and do better. I intend to pick over the rest. Grading over here ends up at about $70 + a coin as they are sent to the USA . It also takes about 3 months if you are lucky. I'd welcome any ideas on this project and thanks in advance.
First, I would not spend the money to have coins graded if your grading skills are not great. Given the current grading fees, you can waste a lot of money very quickly, and, since it takes three months, a lot of time time. I would buy the coin already graded. It appears that you are looing for NGC graded coins, but I am not 100% sure. PCGS holders might fit. The 1879 dollar you have has not been professionally graded. It is in a "home made" slab. Here is a list of commen date dollars and mint marks, you might consider. Carson City - 1883-CC is the most common date, but 1882 and '84 will work too. Denver - 1921-D is the only date New Orleans - 1898-O is very common. 1884 would work too These dollars are usually well struck, which is often a problem with "O-mint" dollars. Philadelphia - Many dates to choose from in the 1880s. San Francisco - 1881-S is really common, but 1879 and 1880 can work too. I hope this helps. Here is a raw set I have in my collection. I put this together many years ago. These coins are pretty nice, but they are not worth the current high grading fees.
If you want to fill that case I would suggest you find the type of slab that fits it and by the best examples of each that you can. Leave the NGC Morgan that you just bought as is.
The pictured examples are not worth the grading fees. The 1885 example appears as if it would come back details environmental damage. The 1879 looks like a potential details coin as well. As suggested by others, you are better off buying the coins already graded. If you want a consecutive run, one idea is to go 1881-S, 1882-CC, 1883-O, 1884 (no mint mark, Philadelphia), and end with the non-consecutive 1921-D (only Denver option). You can substitute any mint (between Carson City, New Orleans, and Philadelphia) for the 1882 to 1884 range since all are relatively common and don't have much difference in the price (the CC is more expensive than the other mints but among the 1882 to 1884 range, all 3 CC coins are around the same price). In MS 63, you can find the S/P/O for around $90 and the CC for around $350. For an extra $10-$15 you can get up to MS 64 on the S/P/O and an extra $50 for the CC. The 1921-D almost doubles from $110-$150 in MS 63 to $250-$350 in MS 64. At MS 65 the CC and D become pricier but still doable but MS 64 is the sweet spot in my opinion for value. And I would suggest being picky as there are a ton of these coins out there so one can find nicer examples for not much more than below average examples.
Sounds like a plan @ddddd and I will take your advice and that of @johnmilton and others. Thank you all.
@Dafydd I've just recently sold a box like that on eBay.uk with the slabbed coins inside. Titled The Complete Morgan Dollar Mintmark Collection , CC, P, O, D, S COA CASED Coin Portfolio Management did the slabs to fit the slots. Still in business.
With silver at or above $80, if it costs $25 to grade a coin, isn't it somewhat more reasonable than when all these common coins were priced off silver at $30/ounce ? I generally agree that a coin should probably be 10x the cost of grading....but at least with the coins having at least tripled with the price of silver you're no longer spending 50-75% of the value on grading.
@daveydempsey that's good to know, thank you. The three Morgan's I considered grading were in Leuchturm Quickslabs which I guess were the slabs supplied with the original sets. I tried them and they slotted in really easily with a loose fit. I hadn't appreciated it but the slots and base are made of some kind of firm springy foam and when I tried NGC slabs I had to push them in and they are held really firmly and nicely. I reckon I could hold the case upside down and they wouldn't fall out. I often see empty cases on Ebay and provincial auctions where I guess bullion hunters have stripped common coins for melting or collectors have not liked the case or had the coins graded. If I see others at low prices I would consider buying them and take the name plate off to make custom cases for whatever runs or set denominations I can think of. Over here a logical run would be Crown to three pence in silver. Here is the same case with some NGC slabs in it.
That's a good point @GoldFinger1969 , my problem over here is that it costs more like $70 to grade so I wouldn't even consider grading circulation coins the slightly better coins are worth considering as when I bought them they were all $30 to $50 maximum and the money used to purchase them is a distant memory.... I don't think the 1885 I posted earlier would get a details grade as it is toning and if it was being sold on some USA auction sites it would be described something like The obverse of this 1885 Morgan, showcased is graced by a truly "courageous" patina—a complex tapestry of autumnal amber and what one might charitably call "biscuit-tin gold." While the uninitiated might see "environmental grime," the sophisticated numismatist recognises an assertive, original skin. The fields exhibit a whisper of ghostly lustre, struggling valiantly to shine through a sophisticated layer of what we imagine is genuine 19th-century cellar dust. The imperfections would become selling points for them. I really enjoy reading the descriptions of some coins. I visualise the catalogers on a Friday afternoon sipping cocktails roaring with laughter at what they are writing with the gullible falling for it.. Emperors new clothes comes to mind.
I am confused. The only reason spend $25 (actually more with shipping both ways) is if you get more than $25 more for the coin in the holder. I don’t think that works for common date, circulated silver dollars.
True...but some people want the grade for other reasons: Confirm it's an authentic coin not counterfeit Get an actual grade Protect the coin in a holder and make it easier to handle and show Storage is easier I agree that if you had a TON of common coins of low value it wouldn't pay to get them ALL graded and holdered. But if you have a coin or a few coins with sentimental value or that you intend to give away as part of your estate, there are non-monetary reasons for spending the $$$ to get the coin graded/holdered. Dafydd, I forgot you were in the UK, didn't realized it is over 2x the cost there to get a coin graded. Not sure why.
