2nd opinion on 1903-O Morgan

Hello!

I have this on hand and considering to buy it, but would appreciate any second opinions on this 1903-O dollar.

It’s raw, but I trust the seller. Grade vice I think it might be in the MS60-62 range.

So what do you think? Safe buy?

Thanks!

 

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Tough call on the grade.
For me it all depends on whether I view the "noise" on the obverse as bag marks or improper handling/storage.
Bag marks = MS, possibly as high as -63
Improper handling/storage = AU-55

 

I agree with your grade assessment but for me a nice MS64 is the sweet spot for this issue.

 

62-63...how much is the asking price?

 

Thank you all for your input. Ask price was equivalent of $370, but the seller decided to keep it for his own collection after all...
I’ll be on the lookout for an 64 specimen I think, which is a optical collecting grade for me and my budget. Bowers mention 65, but more of a jump in price up there. 60-64 is fairly the same level.

Thanks again for good advise!

 

I'm no expert but it looks like an AU-53 at best. Lots of wear

 

I think $370 was a great price for this one. Too bad you didn't get it.

 

I am also not an expert, but I am in the AU 53 to 55 range based on photos.

 

Based on enlarging the photos and taking in consideration the 2x2 plastic it's in, I'm more in the 62/63 range with the reverse being 63 plus. Grading is subjective. Only been collecting 63 years but have 12 of these in 11 Morgan sets without the 95 proof. Good price. Keep collecting. I paid $12.50 each for mine when the bags came out. I should have bought more.

 

That must have been quite an experience being present in the market in 1962 when bags of these were discovered! In my 1961 Red Book the 1903-O was listed at $500 for an UNC specimen and have even heard of $1500 listings before the release! Guess they went down in price quite fast!

 

Yes they did. I bought rolls of 1904-O and 1899-O for $20 a roll and banks had them. $1.00 each UNC coin. Coin collecting is a great hobby and wonderful history lesson. That was the good old days.

 

Do not confuse wear with the famous New Orleans mint weak strike. MS-63 IMO.

 

My bad. Wasn't aware of the 4.4 million weak strikes.

 

Actually the '03 O generally has average to good strikes.

 

OK. You can raise the value by grade to what you want but it seems to me the OP's coin shouldn't and doesn't deserve a 63 or 64 grading.

 

There's little reason not to by at least an MS64 of this date at just north of $400. They're quite available in that grade, and you should be able to cherrypick both for quality and for the VAM 4A variety.

 

Shhh, that's my cherry pick...

 

That's true but this thread is about the displayed coin. My remark is just an answer to the question of the grade, not value.

 

I remember those days as well Didn't have the resources then to take advantage though.