Help grading/appraising a 1897-O morgan dollar

Ok, this is a 1897-O (mintage 4,004,000) morgan.

Here are the pictures:

https://plus.google.com/u/0/photos/106062711463015710991/albums/5938565122705227329

Can anyone tell me what this is worth? Points to consider:

2 "X" scratches on reverse
no breast feathers
decent amount of wear on liberty's hair

Also, try and guess how much I paid for it!

Thanks for any help!

 

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It's kinda hard to say since it is a problem coin with the "x marks the spot" scratches. So I think it would be up to the buyer on how much they would be willing to shell out. Sometimes when I find problem coins I'll grade them then drop them down a couple of grades depending on the problem. But that's just when I'm buying. And usually it will be my filler coin. Most people that buy filler coins plan on upgrading so they try not to shell out so much cash.

However you would also have to consider putting value on it as a detail coin if it stands out. The detail of the Morgan looks like it's around Fine condition. If I were to buy it then I'd prolly give around $15.

 

I hope no more than melt, or at most equal to the small retail premium any average coin of this type carries. Sure, it's a good date in higher grades, but what you have is a problem a few times over. Most, even budget-minded collectors would prefer a no problem example of a lesser condition than pay up for something like this. Sorry, and no offense, but it's pile material IMO, and that's exactly what I would do with it.

 

By the way.. I'm curious on how much you did buy this for?

 

Hah, I wish I could have bought it more than a dollar under spot!

As I research, it looks like it would probably be worth around $30. I posted to get some opinions but I did some research after posting. Here's what I found so far:

Almost any morgan seems to sell around there, including 97-o. Here is a scratched very low grade 97-o that sold for $29 after shipping.
http://www.ebay.com/itm/1897-O-Silv..._cvip=true&rt=nc&_trksid=p2047675.l2557Here's a wizzed one that sold for about $30:
http://www.ebay.com/itm/1897-O-MORG...D&orig_cvip=true&rt=nc&_trksid=p2047675.l2557

Here is another, low grade, scratches, AND a sticker, sold for $32 after shipping:
http://www.ebay.com/itm/1897-O-Morg...d=100011&prg=1005&rk=1&rkt=5&sd=181244387945&

 

$19. Even cull morgans sell for $25, so I felt it was a good buy.Here is a holed cull morgan from a date with 3 times as many minted:
http://www.ebay.com/itm/1879-Morgan...D&orig_cvip=true&rt=nc&_trksid=p2047675.l2557

Still sold for $24. $8 over melt!

 

Not bad if you like it for the silver. The spot on silver fluctuates up and down just a bit but not much recently. Hey I was close to the spot anyways! without looking the past week.. I bought an antique play register with quarters in it over a year ago on ebay. The guy had a starting price at $25. I told him id buy it for 50 right there and he agreed. I turned around and sold them for spot at $120 so yeah you can find stuff under spot. It just depends on who the sucker is

 

Well hey now, I wasn't taking anyone for a sucker! Nor was I trying to. I'm an honest modest dealer. Still green, but not to green to make a little green. But never at the expensive of ripping someone off. Though I have gotten some GREAT deals, it was still mutually beneficial.

 

Nah I know. I wish I could get better deals or find better stuff online. Ebay doesn't have anything anymore. I miss going to local dealers. I could be in a store all day.

 

Nah I know. I wish I could get better deals or find better stuff online. Ebay doesn't have anything anymore. I miss going to local dealers. I could be in a store all day.

 

Given its condition, damage and apparent improper cleaning, I would not have paid a premium over melt for this coin.

Chris

 

I would give u $0.99

 

Already sold for over what I paid, thanks for your smarmy comment

 

I wouldn't have gone over $12 but that's just me.

 

As I just mentioned, I already sold it for more than I bought it for. Also, $12 is $4 under melt. Unless you run a cash4gold, you won't get those prices. And actually, they pay around spot for silver to get customers to come back with gold. So even then you would have to pay more than $12 because they know everyone goes to whoever will give them the most.

 

I don't know of any B&M that pays near spot for gold or silver.

Most around me pay up $5 under spot for silver, and as much as $400 under spot for gold.

 

I never said anything about paying near spot for gold. They pay near spot for silver in order to get them to come back. I mean. A silver ring might be worth $3 melt value. They will pay $3 for it, in hopes that they come back with gold, which they usually try to buy around 70% spot

 

Near spot or spot for silver, not for gold. That sentence does not imply spot for gold.

 

I understood what you said, perfectly.

I mentioned gold in my statement as that would be true for gold as well.