What is the difference: GSA Morgan Silver Dollar vs GSA Morgan Uncirculated Silver Dollar

I know you don't want to be disappointed in the grading company's most don't. These company's have slowly but surely allowed different kinds of wear. Heck they in instances of rarity have allowed graffiti to be part of a strait grade. Bag wear and rub on the high points are not discernable, but if they are present the coin has been circulated.
This is what used to make an AU58/+ an attractive coin. An AU58 on a sliding scale is much more beautiful and eye catching than a low MS coin 60 thru 64 in a lot of cases. Especially if it has minimal bag marks and a high quality luster. The TPG's just can't value (market) such a coin with that quality at that low of a price. AU or not they decided if someone was going to make the money upgrading them it was going to be them.

 

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I don't know about MS64 and even MS63, but for sure many AU-58's look "better" than MS60-62.

You don't even SEE that many coins graded MS60, or at least I don't.

But be that as it may.....the official prices for those low-60's coins are still HIGHER than the AU-58's. I don't know why, even though the price "flattens out" as you go above AU-58 to the low-60's. It's not flat, it's not a drop, but for the coins I've checked, the rise is less pronounced than you would think as the number increases and classification (AU to MS) changes.

But I'm not sure except in the case of ultra-rare coins that the increase in $$$ from AU-58 to low-60's MS is actively sought -- because despite the pricing anomaly (discussed in alot of other threads here) most people seem to prefer a really nice AU-58 (for their own collection) rather than a low-60's MS.

Now....if not for a collection, but if just to make $$$...maybe getting the low-60's coin is better.

 

GD, is this overlooking of wear something that took place ONLY when the TPGs came into existence ? I don't think it is particular to your 2004 grading demarcation, right ?

I'm guessing here...but I'll venture that decades ago, before the TPGs, when general descriptions like "Brilliant Uncirculated" were used.....that if a coin had some wear but was otherwise GREAT-LOOKING....it snuck in as a "Mint State" coin.

Or dealers at least tried to pass them off as such...whether buyers bought it (the grade, not the coin) is another matter.

 

My Ebay partner just bought $7,000 worth of slabbed coins. One of the coins was a PF69 Kennedy. Since I am not into this kind of coin or collecting sphere and these coins are going to Stacks/Bowers I took a look at the PF69 under a stereo microscope. Under 5-25X I could not find "ONE" contact mark. Not one after a 15 minute review - so I asked myself what is a PF70? On the GSA silver dollars I sold both on Ebay the UNC CCs and non-UNC CCs and others. I guess sliders exist? Do onot know or care. The way under a stereo microscope (SM) I grade Morgans and I am usually spot ON is the presence of luster which can be seen an unit eruption of mint flow lines under a SM and contact marks on the face. Assuming no heavy gouges seen in the fields or neck area. I really do not even bother with the reverse other than the central breast area after seeing full mint luster on the obverse. I guess my point is that I still can not tell the difference between any grade so I would grade something like MS60/61 or MS63/64. Its easier with a SM as it can spot any disturbed field surfaces a mile away. I heard on a TPG video a grader gets it right 80% of the time and it showed BEHIND THE SCENE A GRADER - which is why a team or consensus is performed in getting the final slab posted grade. Also interesting most grading is done with a 5X loop and for 5 minutes. This is the time interval I have heard from most posters here and other channels. Ironically I do appreciate the art of grading ... don't get me wrong as I do not have the experience to even intorduce strike into any real Morgan or Peace Dollar die marriage and to consider this part of my grading evaluation. Its a lifetime ... of experience.

John Lorenzo
Numismatist

 

This is not clarification for you but for me. I have these dollars but do not know how to tell. Can you describe for me
Capt Sully

 

Here is the card that came with the non CC Gsa hardbacks.

 

Thanks for the image One Mans Trash! Appreciate you sharing this.

"MU" makes sense altho the text is a bit odd, almost reading like it should accompany the scuffed and toned CCs they culled out. The 28k number ties with what I've seen elsewhere (27,980 to be exact). The example of the hard pack New Orleans unc dollar didn't have a card so something new to look for.

 

Wow...did not realize that was the case as you saw it. I thought it was more a general loosening across-the-board, not a specific focus on wear.

Wow...eye-opening. Thanks for the feedback, I always learn from you !

 

And what about luster ? Isn't that a perception thing ? Can you really see if something has 100% or 80% of original luster ?

 

No, I fully agree with you. In fact, in his SAINT-GAUDENS DE book, Roger Burdette actually notes (maybe others had written it but I hadn't seen it) that luster on the Saint gold coins is actually light reflecting off THOUSANDS of microscopic tiny rough ridges on the surface of the coin. Like a tiled roof.

The roughness actually is what creates the luster and shine. If those "rough" tiles are worn by wear, the luster/shine fades.

 

Figured this thread should be bumped up with GSA and Carson City Morgans red-hot the last year or so.

Biggest problem is fakes skyrocketing on Ebay, Etsy, etc.