Short story about a purchase and question-Toned Morgan

that says it all :thumb:

 

Log in or Sign up to hide this ad.

caveat emptor is not used for nothing i guess

 

Wow, wanna see your coin's twin brother.



Judging from that photo, I will guess that the E-Bay seller is Mbcoins. He is a very good seller with a very good reputation. I have bought several coins from him in the past with no problems. Don't take this the wrong way, but who would go through the trouble of counterfeiting an NGC slab for a common date MS62 Morgan Dollar? I agree he should have disclosed the slab damage before selling it, but I would not consider it a big deal. I have purchased several coins in damaged slabs over the years, and it does not bother me in the least.

I think that is a great coin and you did not overpay by paying 4X Numismedia wholesale for it. That is the market value of a rainbow toned Morgan with that level of toning. I paid over 6X wholesale for mine.

If anything should bother you about this coin, it should be the condition of liberty's cheek and the overall baginess of the coin. They would be the limiting factor to the price of the coin IMO.

 

Harry, respectfully, that is simply not true. I have bought damaged slabs from very reputable dealers in the past including Anaconda Rare Coins.

Everyone in the numismatic world likes to throw around the phrase "buy the coin, not the plastic." I suggest everyone employ their own advice. The coin in question is a beautiful coin and the damage to the slab in no way affects the value of the coin. Nobody is going through the trouble of counterfeiting a slab for a $100 coin.

 

I think what was meant, was, I have sent coins to NCS and NGC for folks for reholder, spot review, copper guarantee etc. Same with PCGS.

I can't fix a broken slab, I can only help you if you wish to submit one.

No biggie.:thumb:

 

Sorry Jack,

My comment was only about his first sentence. Selling a broken slab is not an indictment of your integrity or reputation as a seller.

 

Wow Lehigh! lol You're right. Twins. And the same year as well. That's cool. Your toning is just slightly lower in the back. You can tell yours is a 64 and mine's a 63. I know mine's beat up a lot more on the cheek and primary focal area.

Your picture is a lot better representation of what it looks like. Side by side, they would look the same. The seller was mbcoins.

 

maybe the coin came from the gent who knew how to tone coins right remember GD said no tpg had ever caught it till date




just messing with you

 

To tell you the truth, I'm a little surprised NGC graded it as high as MS63. Maybe the toning influenced them?

 

I agree with that statement, which is why I believe that the price of this market graded MS62 should be limited by the surface of the coin, not the toning. I would have trouble paying much above $100 for that coin.

 

I've been wondering why the really nice rainbow toned Morgans always fall off my watch/track list. Usually when they hit 2X off they go, and I have never gone back to see the actual price. I guess I'll watch them further since I want at least one before I head underground. Thanks for the info Lehigh.

Maybe the obverse marks happened as the coin was vibrating in the holder while the guy with a 3 lb sledge hammer and a miners chisel went at it :hammer:

 

That's what I tried to tell him. That was my original offer but he said he had more in it than that. So, if I wanted it, I had to pay. There was no making a deal.

He says if I can find these for $100 to "let him know."

 

Well, he is right about that. There are too many people that will pay big money for toned coins regardless of grade. The lower the grade and lower the price guide price, the more you will have to pay in multiples of the price guide to obtain the coin. For example, this coin probably cost you $150 (4x wholesale). The same coin with the same toning in MS65 would probably cost about $400 (3x wholesale) and an MS66 with that toning would probably run about $600 (2x wholesale).

I wouldn't even mind paying $150 for this coin if I thought it was actually an MS63, but I think this is a market graded MS62 which means you paid 5x wholesale. Like I said earlier though, don't feel bad, I paid 6x wholesale for my twin.

 

$190 plus shipping. If I didn't buy it, he was going to relist it at $250.