Being a newbie in the Morgan dollar or anything to do with grading and values, I have an inherited 1892S Morgan slabbed and graded by PCGS as AU-58. My question is does that mean it is only two points off a MS60 and if so, how much less value wise. Going by the 2012 North American coin and Prices book, a Christmas gift, could it be near $25,000. I haven't been to any dealer's yet who I would suspect would only offer half or less of what ever they thought they could get for it. I would like to know what it is worth before dickering with anybody.
http://www.pcgs.com/cert/ If you put the number on the slab in here it will give you a estimate of what it is worth.
Ms 60 is the bottom of the Mint State grade scale. A 60 is usually dull,unattractive , and full of bag marks but no wear. An Au58 is a coin with a touch of wear. If it wasn't for the touch of wear be it slide mark from an old album or cabinet friction it may have been a 65 coin. But it may have been a 61 also, Au58s are where a person can get a stunning choice coin for a fraction the cost of an high uncirculated coin if you look for them
Looking at Heritage...in the last year the few that have been for sale have gone in the $7-$9K range. I just made a quick glance, but I saw three of so in that range.
And remember that PCGS price is just a guide. It's worth what someone is willing to pay for it. Like Camaro stated he has seen them in the 7-9k range. Not have a lot of people these days have the money to shell out book value of $13000. Still a very nice inheritance.
According to the PCGS guide, the value is at $13k, as the pop report lists 73 others at the same grade. There are images too:
PCGS guide is way over priced. actual auction prices give the true story. you might get 10% more on retail sale
It's actually not PCGS' guide, but rather Numismedia.com's guide., which I believe is a tracking of recent sales, not 100% sure.
