COIN BUYING EDUCATION 101-2 [new 7/27]

2nd coin

There has been as usual, many auctions which have been url-ed on ebay to draw attention to a specific point or discussion as to value or lack thereof. Most often the photos are not the best. I would like to offer as a lesson in coin buying in this post. I am not the teacher, the posters will be teaching and learning at the same time.

This coin is not for sale. It is the example used.

This coin is graded ( or BB, or detailed) of a big 4 TPG. The photos are taken through plastic.


So pretend this is the listing I have put on my auction, and then post what you think as to price and condition. After some action , I will tell you the results. AGAIN, this is a pretend auction and I hope the moderators allow it to go as I will not sell this coin. In financial groups it is called "paper money" so you can trade stocks on paper and not lose your money until you are ready.

Pretend ad: :smile
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Scarce 1904-S Morgan Dollar. Not sure which VAM number. Grading is subjective. Use my photos to make your decision. Buy it now for $110 or best offer.







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Ok, what do you think? offer grading/ condition/ price/ suggestions
and why you say so.

It has already been to a TPG and back, so you won't offend or anything. Again
this is not an offer to sell, nor any offer at all, it is a pretend learning experience. A lab practical if you would.

Jim

p.s. This coin originally obtained from a forum member, so don't tell :thumb:

 

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Nice VF coin, but $110 is high, based on recent ebay sales I might go $75.

 

I'd say VF details, possibly lightly dipped, possibly bad lighting. Other than that, very clean-looking. I have nothing on value, but I would not pay the asking price.

I'm also not a huge fan of Morgans, which would affect what I'm willing to pay.

 

Nice looking coin. I vote VF30. $90 would be my offer if it was a coin on my want list.

Here are three VF30s from Teletrade all sold this year:

#1 ANACS VF30 small white holder $85 hammer


#2 PCGS VF30 blue label $85 hammer


#3 NGC VF30 $80 hammer


I'd rate the coin in the "for sale" post well ahead of all three Teletrade coins. The technical grade is about the same, the eye appeal much better. Even if the technical grade is a hair lower, the eye appeal is still better.

For grading comparison here is
#4 NGC VF20 $75 hammer

 

To me the original coin looks flat from wear with an old cleaning. To me the coin is at best net F-15 and $50 to $70 list price by a dealer. Can't say for sure but the and this is just my opinion.

 

I'd grade it VF-20 and value it about $85.00

 

VF-20, I would offer 30 for it, wish I had the vam reference book but so far I have not been able to find one at any of the used book stores.

 

VF, $70 low bid / $80 high bid would be my bid range.

The "R" in Pluribus (obv.) and the "O" in Dollar (rev.) both seem too clean inside the devices, or at least, inconsistently toned. Nothing sticks out to me, I haven't a VAM book and haven't searched VAM World.com extensively either. I also personally like darker toned coins.

 

I don't know what it is, but something doesn't ring right on that coin -

Speedy

 

It's a DDR, the L in DOLAR is doubled. :secret:

 

The MM looks fine to me, but something about the letters look odd -

Speedy

 

Personally, were I to evaluate the coin to buy it, I would be a bit conservative and grade it as F-15 and at the upper end of that grade. If you were a bit looser and gave the coin a VF-20, I might understand but politely disagree. The coin is a nice F-15, but that's all that it is IMHO.

TPG??? I don't know what they'd say, but my guess is that they got it wrong and said VF-20 or 25 mostly because it's a better date coin.

 

Here is a closeup of the mint mark.Suppose to be a type V according to VA&M.

 

There was only the one S mint mark. I admit that when I picked the coin, I abstained from looking it over carefully until eveyone had a chance to ask for other photos or what-not. I notice the mm on this coin is a little wear beaten, but it seems to have the same proportions and serifs.

The first photos I tried to get about 7X and also 10X size as seem with a loupe. The mint mark is about 25-30X depending on monitor size/resolution. Yes, it looked different to me also once I saw the crud around it.

Jim

 

I agree with gem. The m/m looks to be the same punch maybe in a slightly different position, but the same never the less.

He has told us that it slabbed from a TPG and under that assumption, I don't even pay attention to the fact of whether or not it's genuine. That is a bad start I must admit, but even after considering that fact, I believe it to be genuine. I also presume that gem's beef was the grade or VAM not the authentication.

 

IMO: Authentic coin with weakly punched and crud encrusted mintmark, graded VF details, cleaned, net F15 (at least by me). I suspect someone graded it problem-free at VF 20 or 25.

 

IMO, I'd give this coin a VF20. While I don't always use Coin Values Mag., it states that this coin in VF20 would be $125. To me this is way high, but I use a formula to get a reasonable price to pay for a normal, coin without details, or problems. My price would be $72.

Of course I haven't investigated all the aspects of this coin and it may be a VAM or have other traits that I'm not now aware of.

Bruce

 

The center of both obverse and reverse speak of the coin being messed with, maybe some time ago. I doubt it is just dipped, but I can't see other evidence of cleaning. Of course that doesn't mean hairlines are not there. Excuse #2: I don't collect Morgans. Bottom line: VF, messed with, I'm not buying.

Great thread. Please keep them coming.