Silver Morgan Dollar! What is this coin worth? Please help!

I am about to buy a Morgan. It is a MS-66 1882-S MORGAN SILVER DOLLAR

I am about to buy it. I love them. I have need this date to complete a book that I have. Anyway, that is besides the point. I was on www.foobid.com and found the coin. Please tell me if it is worth the $89 dollars he is asking for! He has lots of coins on foobid.com and I will be buying lots of them. I will keep posting questions about value and I hope that some of you can help me.

Thank you!

His listing is here:
http://www.foobid.com/auction_detai...GAN-SILVER-DOLLAR-STUNNING-&auction_id=100085

 

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Don't buy that coin! It is not an MS66. The seller slabbed it himself, and it looks to have been improperly cleaned. You would be throwing $89 down the drain. If it was really an MS66, it would be selling for $225-$300.

Although I didn't look at anything else this seller has, I wouldn't be surprised if he doesn't slab all of his own coins, and they are probably all problem coins. That site shouldn't be called "foo.bid", it should be called "fools.bid".

Please, if you don't know what you are doing, buy only coins that are certified by NGC or PCGS.

Chris

PS. Welcome to the neighborhood!

 

If that seller has other coins in the same type of slab, stay away from it. It's a basement grader, not reliabe and as Chris pointed out, that Morgan is not MS-66.

The top 3 TPGs, Third Party Graders, are PCGS, NGC, and ANACS. As Chris mentioned, PCGS(Professional Coin Grading Service) and NGC(Numismatic Guarantee Corporation) are the top two better TPGs.

 

Havn't looked and not gonna...until you know how to grade a coin yourself either buy them from a trusted dealer you know or from a NGC or PCGS holder only. That will save you a lot of grief in the long haul. Like when you find out your coins were all twice what they were worth or more. And you can only sell them for melt now...

 

The seller does self slab. I checked out several other coins they have listed and they're self-slabbed.

 

Not only a self-slabber, but the one and only seller on "foo.bid". This guy has a monopoly going for him!

 

Hey bro thanks for posting this id say run like hell.. and adding to that no .. don't waist you money..

 

What is that strange smell?

Chris

 

Hmmm... estatecoins. There are some...posts...about this outfit recently I believe.

 

Thanks to all that helped. I am actually the owner of FooBid and I recently started this auction site a few days ago. Anyway, I was going to buy that coin but I guess now I am not. I am only into coins because my Grandfater gave me almost a thousand silver and about 30 gold coins. Some extras but anyway they are all morgans (THE SILVER ONES). The gold coins I have no idea what they are just think gold coins. Anyway he posted it I seen it and thought about buyiing it. Thanks to all that helped. You are all great.

I like this forum by the way!

 

Good. Now that we know you own foobid, how about removing that seller as all his coins are not what he claims they are.

 

I actually plan to do that! I am actually going to politely ask that he removes them and sells legit coins. We will see how it goes.

 

Thank you. If owners of online auctions sites, like yours, take this action against these types of sellers, it certainly will go a long way to keep the numismatics community honest, and protect the hobby from frauds, counterfeits and scams.

 

I would be glad to do this. I do not want to ban him I would like to give him a chance to keep his account by selling legit coins or selling those coins without the title of graded as they are not. I will take care of it trust me. I would love for some of you to get on there and sell the real thing. If you sell coins go have at it. I need you on there.

 

Coinfanatic,

I have a problem with someone who comes here and can't be honest with us from the outset. How are we to know that you aren't the owner of those coins? Why should we believe you now?

Chris

 

Because I am not the owner of the coins. The guy came to my auction site that I launched recently and listed the coins. I was very interested in a coin he had listed and the forum I used to be a member of shut down. Anyway I am not here to prove myself you can believe what you want. I have 100plus users on my site. My username is foobid.com on there not estatecins. Anyway, I got my answer and glad to know I should not buy the coin. An email was sent to the gentleman to take all fake coins off the website within 3 days or his account will be deleted from our database. Dont believe me check back at another day. Anyway, I have nothing to prove I came here for a simple answer and got it. Thank you to all that helped. Sorry this turned into some drama that none of us needed to read. God Bless to all!

Jonathan Smith
FooBid

 

Jonathan,

It's an unfortunate fact of life in numismatics that a lot of collectors tend to develop a certain level of cynicism when dealing with internet sales. For me, it would not have been an issue if you had simply stated that you were the owner of the site in your original post. Then, everything would have been much more believable.

There was no intent on my part to make this a melodramatic issue, but I do think that inexperienced collectors should always be made aware of the pitfalls when dealing with internet sellers who would not think twice of trying to pawn problem coins off on an untrained public. By the way, I did not suggest that the coins listed on your site were fake. I merely stated that they were self-slabbed, overgraded and, possibly, improperly cleaned.

Best wishes for your success!

Chris

 

With that many coins on hand, why are you buying more? Take some time and go through what you have.

 

Hmmmm Recently launched and making it look like CoinSpace. Warnings from anti-virus as well when you check out the site.

Seller: foobid.com has 1 feedback by guess who? foobid himself....LOL. Someone is really trying to boost the site up. I would certainly stay away...

Wouldn't be surprised if the site doesn't last very long.

 

Hi coinfanatic007,

EXAMPLES OF REALLY NICE 1882-S MORGAN DOLLARS ARE NOT TERRIBLY HARD TO FIND. HOWEVER, A PCGS CERTIFIED PIECE WILL NOT BE CLEANED BY SOME "COLLECTOR". IT IS GUARANTEED FOREVER TO BE GENUINE AND NOT JUST THE OPINION OF THE LAST GUY WHO LOOKED AT IT. I JUST HAPPENED TO HAVE A DUPLICATE MS-66 SEVERAL MONTHS AGO. ONE WAS A PCGS GRADED COIN AND THE OTHER AN NGC. I DUMPED THE NCG SINCE I WANTED MY SET TO BE ALL PCGS GRADED COINS. IT SOLD FOR $275. IT'S A BEAUTIFUL COIN FOR THE MONEY.

HERE IS MY ADVICE FROM COLLECTING MORGANS SINCE 1955 WHEN THEY WERE GIVEN OUT IN CHANGE IN THE SAN FRANCISCO AREA. 1) DECIDE ON A GRADING SERVICE AND BUY ONLY THOSE COINS. 2) SUBSCRIBE TO A COIN NEWSPAPER. 3) ATTEND COIN SHOWS ACCESSIBLE TO YOU IF POSSIBLE. 4) REGISTER FOR FREE AT A COIN AUCTION FIRM. HERITAGE AUCTIONS AT HA.COM IS GREAT FOR TRACKING THE ACTUAL SALES PRICE OF COINS YOU LIKE. THEY ALWAYS HAVE AN AUCTION GOING. 5) TRY, IF POSSIBLE, TO BUY THE MOST EXPENSIVE CERTIFIED MORGAN YOU CAN AFFORD. THEN GO AFTER THE LESS EXPENSIVE ONES. FOR EXAMPLE AN 1892-S MORGAN IN 1958 WHICH ULTIMATELY GRADED MS-65 WHEN PCGS STARTED, SOLD FOR 292.00 AT AN ANA SHOW. NOW IT WILL SELL FOR OVER 100,000.00. THE COIN YOU ARE CONSIDERING, AN 1882-S IN MS-65 (GEM BU THEN) SOLD FOR 8.00. THE EXPENSIVE COINS GET OUT OF REACH FAR QUICKER THAN THE LESS EXPENSIVE ONES. THE TROUBLE IS THAT YOU DON'T ACCUMULATE COINS AT AS RAPID A RATE. IT TAKES PATIENCE.

AFTER YOU HAVE A FEW COINS THAT YOU CAN SEE AND TOUCH IN THEIR PLASTIC CASES, IT'S VERY POSSIBLE YOU WILL FIND THE COIN CHASE TO BE AS MUCH FUN AS OWNING THEM ALL. THANKS FOR LISTENING.

MORGAN.NUT