Hey guys, quick question I was just in my LCS and a 1901-O Morgan dollar graded MS-65 (ANACS) immediately grabbed my attention. It had beautiful even rim toning in a nice gold color on both the obverse and reverse, with hints of rainbow type colors. Now the price guides are calling this coin in this grade about $190-$200. What would be a good price on this coin to purchase it as? My dealer has it in the $260-$275 range, which to me is a little pricey and likely due to the toning, is that a fair price? Also im leery of this coin due to it being an ANACS-65 vs NGC/PCGS-65 (it is in the small white ANACS holder). The coin is absolutely gorgeous in hand and I wish I couldve snapped a photo for you guys, but i thought that would be rude to ask. Heres a link to one that is similar on how my local one is toned, the one I am talking about isnt as black, but more gold all the way to the edge. http://www.ebay.com/itm/1888-P-BU-G...04?pt=Coins_US_Individual&hash=item4d0958ec54 Is this something i should hold of on, or take a gamble and acquire it for my collection. I will say that of all the graded Morgans my dealer had, this one had the best eye appeal and price. Also can anyone give me an opinion on how well older ANACS coins were graded? Thanks
Old small ANACS are generally considered to be accurately graded, some might say even conservatively graded. As always, every grading company has good/average/ and weak for grade. Seems as though these old holders promote toning along the rim - which I find attractive. I have 3 Morgans in these holders, 2 seem accurately graded. Three third I could swear is a lock 65/shot 66, although the holder says 63.
As a collector of toned Morgans, I understand your predicament. As you evidently know, beautifully toned examples can drive the price way over book---sometimes as much as 10x over the advertised value. Is this premium worth it?? That is hard to say-- it depends on how much you like the coin. I have paid small premiums for gorgeous toned Morgans-- search some of the threads, and you will see them if you wish. How much should one pay over "value?" That is an incredibly tough question, and only you can say how much the coin warms your heart. The older ANACS holders tend to be pretty accurate in grade- I have owned many of them in the past, despite having a strong preference for NGC/ PCGS coins. If it is a 65, in all likelihood it is a 65. Too bad you don't have photos of the coin in question.
Well let me ask you this, would it be rude of me to ask my dealer to photograph the coin? I can always say I want to show my 'grandfather' for his opinion on it or something similar
Thats what I meant, for me to ask him if it was ok for me to photograph the coin in question. I feel confident he will, but i just feel awkward asking him to do it.
I can't see why that would be a problem for a dealer. If they didn't allow it, I would find that odd.
Well I have tomorrow off, and I definitely plan on going by there, so hopefully I will take a picture. Knowing me though, ill probably walk out of there with the darn coin especially with my trade. True price for me will be somewhere in the $75 range, I just hate seeing 9+ ounces of silver leave my little stash for one little ole lonely coin
I really enjoy the old ANACS-ANA/PNG Morgans because a lot of them have toned nicely & from personal experience, I would say that the grade on the slab is pretty much spot-on. Before I bought most of mine, I read an old thread on this forum that talked about how modern grading is focusing more on the obverse than the reverse. These old ANACS coins were pretty evenly net graded, so if your coin had an ms-66 rev. and an ms-64 obv. it would be called 65, where as now it might fall closer to a 64+. You should scrutinize the obverse and maybe tell your dealer about your concerns regarding grade & price. (S)he might feel the same way & hopefully understand that it's not rare monster toning, but rather common with this type of coin.
I agree...I have no issue with the old small ANACS holders whatsoever. Most of my classic commems reside in those holders and many would easily be a point or two higher if I sent them to PCGS/NGC. Try to get pics - I have asked at a few dealers and they have always been fine with it. You might be able to talk them down a bit too. Good luck!
It would not be rude for you to ask to photograph the coin, but definitely would be rude for you to lie about why you wish to do so. Just ask to photograph the coin, and if he asks why, tell him. There is no reason to come up with some nonsense story.
The old ANACS holders are pretty neat, and they're usually graded accurately. As far as toning goes, there is usually a premium on the price. Its really up to you to determine how much more you're willing to pay.
NGC has a free app with a searchable database of all their registered coins. If ANACS has a similar database, you don't need a photo - just the serial number. Then you can pull up your own photo of it. For what it's worth, I would find it incredibly strange if a dealer wouldn't let me take a photo for the purpose of researching values from comparable coins.
Even though ANACS now has an online cert look-up option, there will be no photo (I am not sure if new-ANACS even images submissions). Also, NGC has been imaging all their slabs for only a few years now, so this is not foolproof. Plus, their photos are horrible anyway. [FONT=&] The early ANA/ANACS slabs are generally better than later, high number Amos holders (IMO), but as with any TPG, each coin must be considered individually. If the coin in question is similar to the one you linked, the toning is probably not worthy of any premium. IIRC, CDN ask is around $170 in 65 for this date, so if the dealer is unwilling to sell at a price you are comfortable with, just walk away. This is not a rare coin and you should be able to find another suitable example with relative ease.[/FONT]
Went to the shop when they opened this morning and examined and photographed the coin. The owner wasn't in yet so that gave me some time to think everything over. Well I ended up returning around 4:00 and came home with a beautifully toned 1901-O Morgan dollar. My very first purchase of a toned coin. The stars aligned just right for me today and I couldn't be happier. I am unable to upload pictures from my phone at the moment but pictures are sure to come. All told I walked out with a very desirable coin valued around $200 for about $80 out of my pocket. Im gonna go try and figure out how to add a picture for you guys and hope you all like the coin!
Looks like a 65 to me--- grade is definitely accurate. Would I have paid $ 80 over book. No-- while the toning is nice. It isn't in my opinion spectacular. I would have gone 10-20% over book value for it-- not more than $220-230. Is it a nice coin!!! Yes. I have gotten more special toning for less money. However, enjoy the coin.
I was mistaken the price on the coin was pegged at $219. But it only cost me $80 since that's all I had invested in the silver I traded.
