Help! At Coin Show 1885 CC Morgan

I don't think it's thatttt bad a 65 from those pics (and I'm sure it could easily look better in hand) but I'm not exactly seasoned either. I have spent a lot of hours scanning around looking at GSA CCs tho these past few months and have a decent feel for them. And the 85 is next on my checklist been patiently searching for awhile.

In general though 65 is where chatter on the cheek should start to really be at a minimum. A few minor hits on the cheek are fine for 65 but more than that it's in the 64 range even though looking at yours the fields look pretty nice.

Is there a reason you're targeting the 85CC, such an expensive coin, when you haven't bought one over 75? Seems like a big leap.

 

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Should say tho that I agree with others that it was a pass. When you're putting out that much money for a Morgan it really should be a "wow" one not a borderline thing, should be a no brainer, IMO

 

I am targeting the 85 CC because I have been told by many at my coin club that it's a good one to have for liquidity and as a collector. I would want to hang on to it forever but have some piece of mind that I could sell it easily. I want it to feel like having a sweet looking coin and an AGE at the same time. Anyways, I hope that makes sense.

 

Yep makes sense. The 85CC is nice because it's low mintage overall (actually lowest of all the CCs) but there were 148k in the GSA hoard so it's not thousands of dollars like the 79,90 or 91 which all had only around 5k in GSA holders. So like the 80 and 81 it's nice middle ground for the GSA CCs.

This site is a nice read about the GSA CCs if you haven't come across it before: http://www.southgatecoins.com/gsa-carson-city-hoard-history/

 

Great site to learn about the Hoard! I didn't know that the 85CC was the lowest mintage yet many were in the Hoard.

 

If he is so quick to go to $1200 that means he will go to $1100 or even lower.
I'd prob rather have (almost) an ounce of gold.
When the difference between 1 grade point is so high, and something like this is probably over graded, it's only a good deal for the seller.
The best deals are when both the buyer and seller are satisfied with the transaction.
Wanting something can create buyers remorse if you pull the trigger, and then realize you can get a better specimen for $1100.

 

The certification services often seem to be generous grading CC Morgans, I'm not surprised it got a 65. But it doesn't appear to be "nice for the grade."

 

Agreed, I wouldn't be happy with the grade and would have buyers remorse. I'm passing and waiting for another one to pop up. I have about 8 more coin shows to go to this year.

 

Yeah I imagine there were some not so thrilled mint state 85cc owners when all those were released into the wild from the GSA

 

Man, I didn't think about that. That would have been so lame.

 

FWIW - I once had that year CC in AU55 or 58 and it looked a lot better than that - and I bought and sold it for a third of that money. I don't have it now, but I remember it being quite lovely.

 

That's just more reinforcement of buying the coin still and not the slab.

 

I saw too many bag marks on the obverse for my liking on a 65 coin, especially one that expensive. There are some nicer ones than that. Remember, you plan o keep that coin forever; it should be something you really enjoy looking at.

 

Buy the coin...not the holder! That one looks average to me....For that kind of money you can find a much nicer example.

 

Took the words right out of my mouth.

If there wasn't a band around the holder, would you pay MS65 money for that coin?

If so, buy it. If not, pass.

 

yeah it's not bad but not great. And $1200 is close to top of the mark for that grade, so it really should look better for full retail. If it was like $1000 it would be a no brainer.

 

That coin is at least a 64.... in hand, maybe 63......I have a few of them, years ago I did the CC Morgan series... and purchased several unopened GSA boxes... no great dates..had to get them individually... but nice coins. Did not have the GSA slabs slabbed though... Cheers, RickO

 

Once again, thanks for the advice guys. I'm not going to buy it and you guys saved me from a dumb purchase.

 

Not even in my wildest dreams, but I would if I could ...............

 

I have usually found the grade for the GSA coins by the TPG to be generous by a point or two. Part of the heritage I suspect. The back of the Van Allen and Mallis VAM book has a nice section on these coins with numbers and photos. They were not handled too well IMO.