1902-S scarce date Morgan. Price range for this coin in AU condition is about $240-300. I have been looking around and have not see many in AU or better condition under the $300 price. My question is this. How much does the light cleaning effect the value given that it is a hard date to get and how much would you pay for this coin if you were going to make a similar purchase? I paid $152 for it a couple of days ago and trying to decided if I should keep it or send it back. Here is one in much worse condition on the Great Collections website with a starting price of $180. http://www.greatcollections.com/Ser...=product&series=55&q=1902-s&series=55&sort=12
Because it was cleaned, you will have to find the right buyer. To compare, I see that an NGC AU-50 sold for $199 and a pcgs AU-55 sold for $255. Both uncleaned of course.
If you're "trying to decide" whether or not to keep it, then you should send it back. It's obvious that the hairlines bother you. They would be a turn-off for me. I collect Morgans in MS grades, but if I couldn't afford one in an MS grade, then I would rather have one in, say, XF rather than a problem coin in AU. Honestly, $240-$300 for a problem-free specimen in AU is not such a big financial hurdle that can't be overcome. Get your money back! You only need $150 more to get a problem-free specimen. Chris
My gut tell's me to send it back as well and I am a bit put out that it was not advertised as such. Thank you both for your input.
On top of that I would not call that 'lightly cleaned'...it looks pretty bad...and I would send it back definitely. You can find a nice uncleaned AU on ebay for probably less than that if you look around enough.
If you are unhappy with the coin send it back. If it was here at the shop we'd drop it down to XF and then list it with light cleaning for about the same price. I agree with Chris. I'd take that $150 add another $50 to it and buy a couple of nickel boxes to hold me till next paycheck then buy a better specimen.
My $0.02 - I'd send it back. There are many others to choose from. Patience is key when collecting on a budget.
