Hi all- I just joined PCGS Gold Membership for the first time and am really excited about getting my first four coins graded and slabbed. I've no illusions about increasing the value of any coins in my collection, but still want to find four worthy candidates. I own 19 Morgan dollars, and a couple of MS red IHCs, and a proof 58 Franklin. These are probably the best coins in my collection. Most of my older coins wouldn't grade beyond XF at best. I do also have a number of proof sets and loose proofs (I bought 50 or so loose proofs from a pot luck auction on ebay, most are 70's and 80's) which I've thought about going through to look for a coin that might grade particularly high, but the odds are slim and I doubt I could discern such a coin anyway)... I've shared the pics of my Morgans here. None are rare. I'd welcome any opinions on them! https://www.dropbox.com/sh/mpb7v4clen66cyr/_ltJ5xGN8G Any advice on how I should proceed? I originally thought I'd send in my IHCs, and posted pics of them on an earlier thread only to find out that for the most part they'd been noticeably cleaned. :-( Thanks! -Richard
Hey Richard, Pretty cool that you get to send some coins in! In all honesty, I didn't look at every Morgan on there, but I did look at most, and if the rest are similar, I would say to hold off. In general, the only coins that should be graded are coins that are rare in number, rare in grade, coins that bear some significance to you personally, or valuable coins that you will probably resell in the future and want to prove authentic. You have some nice Morgans in there, but to be honest, I think you have several AU coins and a couple lower-level MS's, and all are common dates. If any of the lot are special to you (ie your first morgan...or one given to you by someone close to you or whatever) then by all means do it. The same goes for your Indians. But if not, then you should save the gradings until you get a coin that would get more benefit out of being graded. Is there a time limit you have to use the gradings by?
I wouldn't get the common high grade morgans slabbed (Unless there's a personal/sentimental reason for doing so). Depending on how red the IHC's are i would say go for those.
I just checked out your IHC pics and I think the 1904 may be a candidate, but the rest are AU's. They are nice coins, but again, not really worth slabbing unless they are a better date. Don't be discouraged though! You have a lot of nice coins. Just take a little more time to learn the little nuances in the series you like, and know what the common factors are that distinguish an MS coin from an AU. And don't take another person's word for it when they are trying to sell you something - chances are they are "spicing things up" a little bit. And in this hobby, that little extra "spice" can take a lot of money out of your pockets! Also, there is nothing wrong with grading coins...its a great idea if its worthwhile or warranted. But don't pursue this hobby if you are out to make money, cause most of the time you won't. Do it because you like it. It sounds like you do though, so thats good. Oh, and don't hesitate to ask any other questions here!
Hey all - thanks so much for the great feedback! Yeah I was on the fence about the Morgans - the IHGs were my first choice. I was heartbroken to find out about the ones that had been cleaned. Live and learn... I think I'll send the 1904. I know the Morgans are no more than low-grade MS's. I bought 20 of them from a bullion dealer on e-bay. I figured they'd be heavily bagmarked and only common dates. I'm definitely not out to make money on these coins, I just want to find the best I've got. I have been selling some of my coins to try to upgrade my collection, but the coins I'd send to be graded are definitely ones I want to keep! Petro - with PCGS's "gold" membership you get 4 coins to grade. That's ultimately why I decided to try their membership - figured the learning opportunity and materials they provide, along with the 4 grades made it a worthwhile investment. Cointalk is a great community. I've learned more about coins in the past couple of months since I joined than I had in 30 years since I started collecting! -Richard
I'm sure the PCGS package will be worthwhile...you definately picked the right place to start. Do you have a time limit to use the four gradings in though? If not, I would just save them...or if you send the IHC in, save the 3 until you get some other coins that might be a better option. Or if you have to send the 4 gradings in together, just save the 1904 till you find 3 other coins to send along with it!
Again, don't take it personally either. Every one of us has dont the same when we were first starting out, or when we were getting into a new series or unfamiliar territory. Just take the lesson earned and move on. And deal with a different seller. Good luck!
