MS 65 Morgans

Discussion in 'US Coins Forum' started by Bman33, Apr 24, 2017.

  1. Bman33

    Bman33 Well-Known Member

    IMG_0639.JPG IMG_0638.JPG IMG_0637.JPG What do you guys think of this one? Sorry pictures are bad I took them at dealers table with my phone. IMG_0636.JPG
     
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  3. Michael K

    Michael K Well-Known Member

    Are you buying this to flip?
    Is this just something you want to have?
    In both cases eventually it is going to be sold for a profit, so you are not
    spending $1000 on a coin, it is just a temporary investment, which will show a profit
    unless the economy turns into gruel. In which case the $1000 or the coin isn't going to save you anyway.
    Here is my feeling about big purchases. (Something you want, need, have been yearning for, for years.)
    In 5 or 10 years are you going to need that money? Probably not. If you needed it you wouldn't be buying a $1000 coin.
     
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  4. Bman33

    Bman33 Well-Known Member

    I have been wanting this coin for awhile in an MS65. Can't find one I like in that grade. The last pictures I posted was one at a show and I was very close to buying it. I posted it on this site and many said MS63 and to pass. I took their advice. Interesting to compare it to the 1st one I posted in this thread.
     
    Michael K likes this.
  5. mynamespat

    mynamespat Well-Known Member

    At ms65, your still two full grades away from a top-pop coin (and ~$14k ;p). I would expect there to be something going on preventing it from a higher grade. It seems like in the 63-65 range it's a trade off between many small marks or relatively cleaner fields with some sort of more serious blemish.

    For a coin in that sort of price range, it pays to play it patient and wait for a coin that really pops out as the one. You'll know it when you see it because there won't be any way you are walking away without it. There won't be a "should I buy this" thread. It will be a "my new pick-up" thread.
     
  6. Bman33

    Bman33 Well-Known Member

    Alright Admiral, sounds like good advice and a plan!
     
  7. Michael K

    Michael K Well-Known Member

    Yes hopefully you can get a nice 65 which may be undergraded by a point.
    I saw the other post and I agreed with the chatter and bag marks. The 65 on that coin was a generous grade and could have easily been 63/64.
     
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  8. John Coxe

    John Coxe New Member

    (1) Look at a lot of grade MS65 dollars, of the same date and mint mark. Pick a common one if you just want it as a type coin. (1881-S is an example.) Never buy before knowing how to grade the coin. Never rely of the holder's tag.

    (2) Never buy a coin that you personally do not like. You should appreciate the aesthetic according to your own personal tastes and sensibilities.

    (3) Expect to pay up a little for premiums coins. Except for wild toners or rare die varieties, paying more than the next grade though is out of line.

    A word of warning is to not buy into the PCGS rattler and OGH hype. Most of the all-that examples are already in more modern higher graded holders. With exceptions, many of the remaining ones are in tombstones, and might not even warrant the assign grades on their tags if sent in today.
     
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  9. Seattlite86

    Seattlite86 Outspoken Member

    Well, before I was married, it was my money. Now that I'm married, I have a monthly budget (that we agreed on). I can buy whatever I want, as long as it's within budget. Unfortunately, the budget is only $50/month. I have to save up to buy big items.
     
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  10. Seattlite86

    Seattlite86 Outspoken Member

    I'm also comfortable with this as a 65.
     
  11. IBetASilverDollar

    IBetASilverDollar Well-Known Member

    Gonna definitely have to be patient with this one. Here are the facts about the coin you seek:

    1. There isn't exactly a huge supply of 85-CC Morgans in general, let alone ones in GSA slabs that are 65s.
    2. There is a ton of competition - people love collecting the GSA CCs
    3. Premium beautiful eye appeal 65s are uncommon for GSAs and see #2 - people love collecting these the beautiful ones don't pop up often because they stick in collections

    So not to say it will be impossible but you may have to be in the right place at the right time to get the coin you really are looking for here. Like Lemmy said "The chase is better than the catch"....sometimes.

    Good luck!
     
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  12. V. Kurt Bellman

    V. Kurt Bellman Yes, I'm blunt! Get over your "feeeeelings".

    I looked up the Morgan section in the current ANA Grading Guide and it's even a 65 by that standard.
     
  13. V. Kurt Bellman

    V. Kurt Bellman Yes, I'm blunt! Get over your "feeeeelings".

    I also found spousal units the natural enemy of coin collecting. I am "aggressively single".
     
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  14. Bman33

    Bman33 Well-Known Member

    What's going on with me is she doesn't mind me spending dinero on Bullion because she does too. She can't grasp the coin collecting though. She wants me to collect but doesn't get spending $1,100 on a single coin whose melt value is $15.00.
     
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  15. Michael K

    Michael K Well-Known Member

    Maybe if you sell it and make $100 profit, you can give her 5 silver ounces and explain they were free.
    Not to mention the enjoyment you have during the time that you own the coin and look at it, which is priceless.
     
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  16. Bman33

    Bman33 Well-Known Member

    I would need a buyer!
     
  17. GDJMSP

    GDJMSP Numismatist Moderator

    And I don't disagree with that at all Kurt. But that doesn't make them (the TPGs) right. All it means is that they have loosened their grading standards in today's world.

    And I've been tired of that for a loooooooooooong time !
     
  18. ddoomm1

    ddoomm1 keep on running

    I will chime in just to say that I'm not crazy about that coin being in a MS-65 holder (or label). Yes, the GSA CC's are notorious for bag marks, but I personally would want a cleaner coin. Considering the MS-65 grade, her face, cheek, and neck have just too many marks for my liking. Albeit, there was a decision at a very reputable company to designate a 65 grade and therefore, many collectors will have no problem paying MS-65 money for the above coin. If time is not pressing, I would suggest shopping around for a more desirable (or true) gem uncirculated GSA.
     
  19. samclemens3991

    samclemens3991 Well-Known Member

    I have always used a rule of thumb that some coin writer, ( I think Bowers), said was his approach to ms-65 coins.
    He said that , "his initial view of the coin should make him think he was looking at a perfect coin. NOT that it is a perfect coin, but that the coins eye appeal should be the first thing that strikes you. Then, after noticing whatever defects kept the coin from a higher grade he would decide if they were acceptable or not."
    I must also mention I have spent most of my coin career collecting circulated coins and have in fact only purchased 3 65 coins; ever.
     
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  20. IBetASilverDollar

    IBetASilverDollar Well-Known Member

    With morgans i aim to collect mostly 65-66s and this exactly how I approach things - the initial eye appeal is important to me. 65s are going to have some hits on the cheek (i have a rattler 65 CAC and it has several marks on the cheek and around the eye) but if at first glance they dont act as a major detractor from the coin as a whole then fine. If my eyes are drawn right to them ill probably pass.
     
  21. Sean5150

    Sean5150 Well-Known Member

    I tried to find a 1885 CC on ebay that would be obviously better than this one, but I couldnt. However, there's a couple on HA that look really nice they'd just be over your price range. So maybe instead of looking for a 65, shoot higher or lower as a lot of 64s look just as good. I think because of the low mintage of the 85 CCs, they grade on a bell curve and 65s end up being on the low side for the grade IMHO.
    But if I was going to spend that much money, I'd spend more on one of these:

    https://coins.ha.com/itm/gsa-dollar...c/a/1254-5051.s?ic4=ListView-Thumbnail-071515


    https://coins.ha.com/itm/gsa-dollar...3/a/1254-5050.s?ic4=ListView-Thumbnail-071515
     
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