Slabbed, but no grade. What do you think ?

Just won this one on E-Bay. Hard to get a Carson under $100.00 in any condition. I sure hope this turns out a little better than the pictures.

This was the discription on E-Bay;

"A very nice 1882-CC Morgan Dollar! Certified by NGC, "Carson City Hoard, Circulated". NGC is one of the leaders in coin grading services! Certification #1861864-163. The Carson City Morgan Dollars are more rare than most Morgans!
"

I don't understand why there is no grade on the slab.


I got it for $ 81.00. Any comments ? What is your grade ?

 

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Does this mean you would only pay $ 27.00 for a CC ?

Count me in - Tell me if you have any you will sell me at that price in any condition.

 

Looks like this one to me. It sold for $86 @ heritage. And every G-4 or better went for$48 or more.

 

Question....Why not a numerical grade?

 

looks like an okay coin to me.

 

Good question - I know PCGS has a new service that will say genuine, but have not seen a NGC coin like this.

 

Thanks Doug, figured it was something like that but just had to ask....

 

Think about all the places in the Wild West where it got tossed around in poker games or paid for a sack of coffee. Neat coin.

 

Good explaination Doug. I suppose it is a much cheaper rate for a classification than it is for a grade, except I can't understand why anyone would pay anything for something so obvious.

 

It's a bulk submission. The coin vault on ShopatHomeTV used to sell coins like this and might have sold this one originally, They loved their hoards. They would generically slab coins with hoard attributions and then sell then in groupls of 5 or 10 to move them out. Otherwise to pay for a VG-EF grade would have taken to much away from the profit margin. I think bulk grading was something like $3.00 each for them.

Here is another example: http://coins.ha.com/common/view_ite...No=22494&ic=ViewItemArchives-LiveMatchesPromo

 

These were also, as noted, part of the Carson City Hoard. It's mostly just an authentication slab.

 

I have a couple NGC coins that just say "Brilliant Uncirculated" (a 1922 peace, 1884-o morgan, and an ike)

 

The bulk submission slab certainly adds nothing to the value of the coin. Sometimes collectors will pay a premium for a coin that came from a famous collection, but not a "carson city hoard." Nonetheless, it is a nice circulated lower grade carson city morgan.