I'm not really a coin collector, but I do have a few and find them interesting. I was looking at couple of my coins that I bought around 2000 and one of them surprised me a bit. The two I was looking at are Morgan silver dollars. One is 1891 S and the other 1892 S. The shop I bought them from had their own grading on the coins. They list the 1891 S as "AU55" and I wasn't too surprised to find value guides saying it is worth around $45-65. I was surprised to find that the 1892 has the potential to be worth a bit of "coin", though. Unfortunately, the paper slip is missing from the sleeve, so I don't have the shop's grade handy. However I recall that they were graded and priced similarly when I bought them (the 92 does have a small oblong ring of discoloration on the eagle's head and right wing tip). What makes the 1892's value so much more than the 91? I'm seeing values for it of $125 in VF20 and up to $1300+ for AU55!! In addition to learning why the 92 is more valuable than the 91 (or is the much lower minting the main reason? 5+ mil vs 1.2 mil), I also would like to know if this coin is in the upper value ranges and really needs to be professionally graded. I can post pictures, but as I'm brand new to the forum I don't know the etiquette. Any and all comments are welcome. Thank you. Rob
Welcome Rob. The mintage will sometimes effect the value but not always. Sometimes it's about how many are still out there and in what grades. With some coins, folks knew they were low mintage and saved them while they were still a higher grade. Years later they were easy to find in better grades so the value was lower.
When collectors discovered that there were very few mint state 92-S available in the Treasury releases of the early 60's, it was then that prices began to rise, even for AU specimens. Prior to this, lower circulated grades had been very common. Just for kicks, I looked up the 92-S in my 1960 Blue Book, and it was listed at $3 in EF and $30 in UNC. The 91-S is readily available in MS grades 60-64. Chris
Here are some quick pics of both coins...hopefully they are good enough to give me an idea of their condition. 1891-S, graded AU55 by the shop where I purchased it. Really curious to know if they graded accurately. And the 1892-S Thanks for your help, folks! Rob
Both coins look like they have been cleaned. Even at that, there is no way that the 92-S could grade AU. At best, I see the 91-S as "EF Details - Improperly Cleaned" and the 92-S as "VF Details - Improperly Cleaned". Chris
I think the 92 would grade higher than VF the cleaning notwithstanding. Chest feathers go a long way with Morgan people. Sent from my iPad using Tapatalk
Thanks for all of the info, guys. I'd also like to post my last Morgan for comparison and get your gradings for it as well. That will help me a bunch by comparing the 3 vs. the stated condition when I bought them. 1887 Morgan, in cardboard coin holder so there may be some glare or distortion from the plastic. Thanks again, folks! Rob
I have made a separate post for the 1887. I would like to know how the "improperly cleaned" detail affects the values of the 1891 and 1892. Does it make them worth "somewhat" less than the grade value if they were not cleaned? Or does it make them worth scrap/melt? Or is there just no way to tell without offering them for sale? How do I value them for insurance (since my insurance has a pretty low limit for unspecified collectables and currency). Thanks. Rob
