Hi, so I finally took the plunge and got my first Morgan. After some research I went to my local coin show in North County Anaheim, CA and looked around for a few hours and bought this piece. Before revealing any other details, I'm curious what grade would people give this Morgan? Anything peculiar about it or any VAMs that you can spot on it?
I would grade it MS-63. I think you picked out a nice example. It's the first year of issue, Carson City, sharp strike, semi-proof like reverse and light peripheral toning.
I think it could achieve a '64 rating. There's a lot of 'chatter' on the face of Liberty as well as in the fields in front of her. The reverse fares better as I detect nothing untoward. Working from photogs, mind you.......
I'd say 62-63 so I go 63 for the grade. it is a 78 reverse of 78 and nothing stands out to me to id the vam. I do like the touch of album toning on the edges. All in all a very sweet morgan.. Now can you stop at just one lol
*Drumroll* It is in fact graded by PCGS as a MS63. Now, I do have a bunch of more questions after I looked at a few things further. I ended paying $515. 1. I have a 2026 Redbook and I’m confused, why is it in the Silver Dollars section, Type Coin Values: Circulation Strikes, Morgan (Carson City Mint) for a MS-63 I see a price of $405 however at the same time about 15 pages later under the Morgan section for Circulation Strikes I see the 1878-CC under MS-63 at $700. I also went on the PCGS site and for the same coin I see $650 (just dropped from $700). 2. The CDN Greysheets list this at $480 but my understanding a markup anywhere from 10%-30% is typical putting the potential price $528 - $624. Am I missing something or did I just somehow get a very good deal or did the dealer make a mistake in pricing? Can someone estimate when this coin was graded? I’m having trouble identifying this holder online but I think it has a NFC for security and is the latest generation holder so 2020+
I have two complete sets of Morgans (MS65-69) for our granddaughters. I would have never guessed that coin to be MS63. Guage on lower jaw, deep scratches below jaw in field, uneven obverse toning, rim damage above Liberty's head. Reverse is better but not great, faded letters ED in United, and slight rim anomaly. To many distractions, not good for eye appeal. You are very fortunate to have a slabbed Morgan with that grade, congrats. My opinion only, I can sometime be an A.., but again, my honest opinion!
The thing to remember is the prices in the Red Book are a guide, not the set value. I think the dealer got what he felt was a good price for it based on his costs. I also think you got a good deal as in my area it would have sold for more. You did good for your first Morgan!
well I paid just over $400 for mine in MS61 a year ago which now list at NGC for an even 500 the 63 for 700, so price-wise i think you did very well. I find NGCs price guide to be closest to what I can expect to spend on a given slabbed coin. greysheets tend more towards raw coin pricing. this is mine.. I went for "frosty" with this one lol
And for current value you could look here. NumisMedia Collector FMV Rare Coin Price Guide - Morgan Dollars
I don't believe in paper and plastic. I have thousands of coins and some complete sets. Only my 16-D Mercury is in plastic. Divert your money to nice coins unless you want to collect the stickers.
You did very well price wise for a 78CC in that grade. I recently paid more for mine but this one will be the only one I'll ever buy for that year and was quite picky about the coin itself, I looked at a lot of them. I could have gotten a 63 much cheaper but I think this coin could be a 64 depending on how much sleep and coffee the grader got.
Whoa! I had not seen this before. You have TWO complete sets in gem or better? Are you talking Morgan years or all years and mint marks? Are your sets registered? Having just one gem coin in a key date is remarkable in itself. How much do you pay Lloyd's of London for premiums each year?
@Barney McRae. It took my wife and I ten years to put the two sets together. My brother-in-law is a CPA-PA and also a numismatist. He properly did an audit, certified them, and placed in our family vault. They are complete, all years and MM, With the exception of government withheld or restricted items. Beautiful coins for our beautiful girls.
