Morgan Dollar Graded Coins

I don't remember where or how I got a hold of an 1884 S Morgan Dollar, but it is graded MS-63 by NGC. I looked it up in an 2019 Red Book and if I read it correctly, the coin is worth some money. I hope I read it correctly, not that I need to sell it. I'm just curious why it is valued so much in the Red Book.

 

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It is a typo, it's worth face. Fortunate for you, I collect face value coins, let me know if you need an address.

 

Yes, around $44K in my latest guide. Can you show some pics please?

 

An 1884 Morgan silver dollar minted at San Francisco has an unusual value structure. It is very rare in uncirculated condition. However, worn, circulated examples are available and only valued close to their silver content. Even those with slight wear have only a slight premium in value.

 

The 2019 Red Book calls that a $35,000 coin in MS-63 with the big jump in price occurring with the MS-60.

But the current Greysheet says it's a $1820 coin in MS-63. Greysheet doesn't have a big jump in price until the grade hits MS-65 ($28,000).

So, maybe don't believe the Red Book? Take a look at recent auction prices and I'll bet @Morgandude11 will know much more.

My 2019 Red Book has completely ridiculous high prices for the 1849-1857 half cents. I don't know if that's a publishing error or a research error.

 

The 1884-S dollar has some unusual pricing. The coin is fairly common and inexpensive in AU, but when you get to the Mint State grades, the coin becomes very expensive as you go up the MS range.

Using Coin Dealer Newsletter numbers, an MS-63 graded piece is bid at $26,000. Having the coin in an NGC holder is a plus, but PCGS would be much better. PCGS with a CAC sticker would huge.

If the NGC holder is genuine, and yes, they have been faked, you have a valuable coin.

 

I was quoting from a recent Numismatic News guide. I'm wondering if any recent auctions have bumped this coin up since the last couple of years of red Books? But that's quite the spread in guides from Grey Sheet to what I quoted. Something very strange there. And something worth doing some more research on.

 

1884-S CDN Bluesheet at MS-63 is $24K.

 

Sorry, but what Greysheet are you using? I have the January 2022 one

 

1884s is an extremely difficult conditional rarity in the Morgan series. It is insanely expensive in MS condition. I never owned a MS coin, even when I had my two complete Morgan sets. I had an AU 55, and was happy to own it at the price point I paid for it. I have seen UGLY MS 1884s coins graded MS 60 go for $20,000 hammer price, sold. So, finding a nice looking MS 63 specimen of that date is unusual and difficult. That coin in MS kind of tosses greysheet, and price guides out of the window—very serious Morgan collectors will pay a huge premium for a nice example of the 1884s in MS condition.

 

Sitting on a gold mine, and don't know how you obtained it? Not trying to be snarky.
The thought crosses my mind though, are you sure you have an S mint? It's easy to misread the NGC labels...this is a P mint.

 

If it does actually say that it's a typo. It's a 20k+ coin in 63 and every sale shows that

 

Without pics and another reply, I'm thinking he misread the holder and/or checked the reverse.

 

Because that's what the Red Book thinks it should retail for.

Really, this isn't hard to figure out. You've a valuable coin. No market-tracking price guide can but better than estimate it at the grade. Everything depends on the coin.

 

Grey sheet for Dec 2021 say 31,200 for an MS63.
An MS65 240,000.

 

Was never sure why NGC prints the label like that. I've been misled several times thinking S-mint rather than P. I see no purpose of an "S" before a "$". Anyone have an answer?

 

It's stupid but that S is saying its a silver dollar. I've never liked it as it confuses to many people especially new people and looks stupid but they like it so it stays lol

 

There's SC$1 also. So-called dollar.

 

Since there was also an 1884 Gold Dollar, the "S" stands for silver. It's an odd way to differentiate the two, but that's how they do it.

 

Nice Try!