Morgan Questions

I want to buy this 1898-O but since I'm not very experienced in buying Morgans, I was hoping someone could answer a couple of questions for me. First question is: what are the marks on the coin and how can they claim "brilliant uncirculated"? Second question is: What would you pay for it? The coin is not slabbed and they're asking nearly $90 for it. I realize they need to make a profit but according to my Red Book of Morgans, it's only worth $75 in MS64 condition and $135 in MS65 condition.

 

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I don’t see any wear on the hair, cap or cotton bolls…no flattening on the lettering, numerals or stars…lots of bag marks on the fields and chatter on the neck and cheek…MS62/$70.00…imo…Spark

 

I'm at 62, maybe 63. The luster looks pretty good.

 

I think that's a fair price. I'm seeing MS63. Graded this could easily be a $125 coin. I think the luster might even drive that higher. Your pictures are very good, BTW.

 

It is uncirculated but it has a high number of bag marks. For me, I’d pass as I feel the price is to high for the coin. Just my opinion but I’m not an expert on these either.

 

I agree with MS63 and current FMV is $85 according to NumisMedia.

All the marks are from 65 years of storage in 1,000 coin bags.

 

MS-63

 

I think that it is a very nice MS-63.

Here’s little trivia for you. Back in the early 1960s the 1898-O was a better date that sold for a few hundred in Mint State when that was “real money.” Then the Treasury unearthed a few bags of this date and mint from its vaults which drove down the price. The most famous coin in this hoard was the 1903-O dollar.

 

Which in my opinion the 1903 O is over priced for the rarity now .

 

Which is the reason I don't own an example of this issue...

 

Same here haha

 

Does any member think this piece may have been improperly dipped and rinsed?

 

It looks like the typical 1898-O treasury hoard coin to me. These coins were stored in bags when the air couldn’t get to them. Most of them were bright white.

 

Neither do I think it looks dipped. There's too much "bounce" in that luster. A dip wouldn't leave the luster that "bouncy." Dips subdue luster and "depth" somewhat, even if just a quickie dip.

 

I do not. Too much luster for that.

 

I see it as MS-64.

 

All Morgan's are keepers. Bag marks, wing damage, scratches. In the AU range. Thanks for sharing.

 

Hmmmm, I looked at it again.
I think everything I'm seeing are bag marks, not handling marks.
I still think it's MS but maybe only 63.

 

I think it has too many bag marks for a 64 grade.

 

Wow… Yeah she is a little baggy….. But man that is some luster going on and it is difficult to photograph luster. I would be a buyer at ninety bucks.