Did I get a good deal on this ??

I havent bought anything on ebay in a while and stumbled accross this listing.It was ending soon and did not have much time to research. I looked in my 2010 Redbook (an early xmass gift) The redbook claims that it is worth around $300,and I paid over $60 for this morgan. Please let me know what you folks think. Happy Holidays!! http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=320463987209&ssPageName=STRK:MEWNX:IT

 

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Nice morgan horrific slab. Star is terrible. My blue book puts MS65 at $130. So you got a good buy just don't expect this coin would be the same grade in a PCGS or NGC slab.

 

it does have really nice eye appeal and luster.

 

Great buy , very nice morgan

 

what is wrong with the slab? you said the star is terrible, please elaborate. what would you grade it as?

 

SGS is infamous for over-grading.

Also, that coin looks polished to me.

 

Your coin was more than likely dipped and polished. No photo of the reverse?

Never buy coins that are slabbed from Shameless Self Slabbers online. SGS is well known for slabbing and over grading their pocket change. My opinion is that your coin has nice detail but no mint luster and is worth only a few bucks over melt.

I hate to be the one to tell yoy this but it wasn't too expensive a lesson.

 

so I paid about double what I should have.

 

Until you get your coin in hand there is no telling if you overpaid or not. Without better pictures of the obverse and pictures of the reverse who can tell. SGS has a horrible rep. so you will have to wait and see how you did. If you are happy that is all that matters. Please do not expect that it will grade as high with one of the more respected TPG's. Doesn't mean that the coin isn't worth what you paid for it.

Happy Holidays!

 

It looks polished to me as well, and if it is, it wouldn't even grade at PCGS or NGC. I'd say that you paid about 4X what it is worth, sorry.

 

I had a friend who sent a ASE to SGS and it came back a proof nickel after fighting with them he got his coin and it had a scratch across the coin and they had it at MS70. They are one of those places that are incompetent.

 

do you think I could get out of the deal honorably?

 

It is worth a try. have they shipped it? I didn't check is there a return policy? I think you can get a MS 62 or MS 63 PCGS or NGC for that price which are assets to your collection.

 

"I had a friend who sent a ASE to SGS and it came back a proof nickel after fighting with them he got his coin and it had a scratch across the coin and they had it at MS70. They are one of those places that are incompetent"

Well that's news to me. I had no idea they started actually grading coins? For the longest time they were only sellers of there own coins. It's been a while since I've even heard the name come up.

Pete,
The biggest reason for ebay's policy change in only letting sellers of the top TPG's put the grade in the listing title was because of the folks who got ripped off by SGS. There are many Shamless Self Slabbers but SGS is a name well known.

Your coin is worth about 20 bucks if you're lucky. Yes, you can get out of the deal and it would be smart to do so.

 

Diocletian: I don't think they grade other people's coins but he was tied in with them. They are complete crooks.Go on their website I think they charge like $10 per coin. I think they should be banished.

 

There is a return policy and you just have to pay the return shipping. Personally I agree witht the others that the pictures make the coin look polished and maybe AU. But as mentioned wait until you get the coin, look at it and if it is cleaned and polished pay the return shipping and get your money back. Good Luck!

 

SGS is infamous for being a scam, not for overgrading. It's one of many pseudo TPG's that poplulate Ebay.

 

and according to their website they have 7% of all graded coins on ebay graded by SGS

 

thats not surprising. I could slab 7% of all coins on ebay with my pocket change, some coin world holders and a nice printing program. I could even call them all MS70 without looking.

 

I received it in the mail yesterday,and it appears not to have been polished. I am not an expert by any means.
It does cartwheels,and i am under the impression that polished coins don't do that.

to me it looks like a nice coin.