Scanning through Ebay today and came across a very nice Morgan. What shocked me was the asking price. I know there are coins out there that can fetch a high price but this one that had me scratching my head, really: ULTRA RARE 1901 $1 Morgan Silver Dollar graded NGC MS65 certified PQ BLAST WHITE Save $100K off NGC list value ~ Pop of only 3 $395,000.00 or Best Offer Free shipping
I'm not much of a Morgan guy, but you have me scratching my head too. Red Book has it listed for 6 figures as well. Maybe Dave (@Morgandude11 ) can shed some light.
It is a conditional rarity in gem condition. Generally about $450,000 is about right for a 65. That is a good price at $395k, of one wants one of the finest Morgans of that date. Not all that uncommon in AU condition--can have one for about $500, but it goes crazy in MS condition. Here is the Jack Lee MS 65, which is considered one of the very best, and I do believe it went for around $400,000:
Auction results show one MS65 sold in 2009 for $155,000. Before that in 2006 one went for $96,000 and 2005 $95000. The odd thing is two MS65PL sold for $575 and $220 along the way.
I've looked at Red Book and I would even question there price and the (c) after the 1901 date states "Authentication is recommended. Beware of altered mintmark." I'd like an explanation of that too.
1901o is a very common date, and there have been numerous cases of removed mint marks from uncirculated coins, due to the conditional rarity.
PCGS has the value as $450,000. That is a bit high. I could see a coin like that fetching $250,000 nowadays. The auctions mentioned above are all old.
What I was trying to show is those are the only ones that have occurred in the last 10 years including Stacks, Heritage, EBay, ... The coin does not move often. The MS65PL are the one I was hoping someone could explain.
Is the value of this coin because of the term used, "Blast White" ? If so I have this Peace, only as an example. Would you call this 'blast white' ?
No idea. The auction surely should have had a minimum for a coin with a conditional rarity like that. 1901 is frequently sold as part of a high end collection, in MS condition. The reason that there have not been many results that are current is that there have been a few sales of full Morgan sets. Michael Casper sold his set, and I believe that he had a high grade 1901 in it.
Lets say I bought this coin and I collect only Pcgs slabs . So now I send it to Pcgs, whats the chances that Pcgs will say the same ( ms-65 ) . Worst yet, pcgs says its been cleaned . O boy ............... The thing I don't like about NGC, they grade cleaned coins as problem free and give it a grade, when Pcgs will never give a clean coin a grade ..............
Baloney. PCGS puts as many dogs into slabs as anyone else, and in my opinion they are currently the least consistent of the Big 3 TPG's.
