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Exhibit - Grading The Morgan Dollar
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<p>[QUOTE="tmoneyeagles, post: 928304, member: 17557"]This thread should cover basic concepts of grading the Morgan Dollar, from grade Poor 1 to MS69. I will be using the knowledge I have, photos from Heritage, and the grading standards of the ANA to point out what the coins graded and why they graded the way they did. This thread will stick to one grading company, PCGS, to maintain consistency in grading within one company. </p><p><br /></p><p>In this thread I will try to remain with one date, I will try to get 1893-S for the lower grades, as that is a coin that is available in lower grades. For higher grades, you will start to see a bigger variety of dates.</p><p><br /></p><p>And once again all photos are courtesy of Heritage (<a href="http://www.ha.com" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.ha.com" rel="nofollow">www.ha.com</a>)</p><p>Without further adieu, let the grading begin.</p><p><br /></p><p><br /></p><p><br /></p><p>PO-1 - With a Poor 1, at most times, the value of the Morgan is melt value. (Depends on mintage/supply/demand) The date of the coin, and you being able to tell the coin is a Morgan Dollar, and possibly the mint mark can be identified.</p><p><br /></p><p>Here is an example of a PO-1 coin, graded by PCGS.</p><p><br /></p><p><a href="http://coins.ha.com/common/view_item.php?Sale_No=371&Lot_No=67963#Photo" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://coins.ha.com/common/view_item.php?Sale_No=371&Lot_No=67963#Photo" rel="nofollow">1886-O PCGS PO1 </a></p><p><br /></p><p>Here are the photos of the coin;</p><p><br /></p><p><img src="http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/1Obv.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p><img src="http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/1Rev.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p>As you can see not a lot of the details of the coin are visible, but the type of coin, date, and mint mark are.</p><p><br /></p><p><br /></p><p><br /></p><p><br /></p><p>FR-2 - With a Fair 2, the coin is mostly worn. Some of the details that weren't able to be seen in a PO1 coin will be visible in a FR-2 coin.</p><p><br /></p><p>Here is an example of a FR-2 coin, graded by PCGS.</p><p><br /></p><p><a href="http://coins.ha.com/common/view_item.php?Sale_No=23092&Lot_No=14074" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://coins.ha.com/common/view_item.php?Sale_No=23092&Lot_No=14074" rel="nofollow">1879-CC PCGS FR-2</a></p><p><br /></p><p>Here are the photos of the coin;</p><p><br /></p><p><img src="http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/2Obv.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p><img src="http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/2Rev.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p>As you can see the coin is still worn, but some details can be seen better in this coin. Some letters in Liberty are beginning to be legible, and some stars are worn, but can be seen. Parts of the curls in the hair are beginning to come defined as well. Also in contrast to the PO-1 Coin this coin has some detail in the cap as well.</p><p><br /></p><p><br /></p><p><br /></p><p><br /></p><p>AG-3 - With an About Good 3, the rims will still be worn but more lettering will be legible than the first two grades. The obverse should have an outlined head, with the details still being worn away, the date, just like the first two coins, should be seen and legible. For the reverse, the entire design is partially worn away, like that of the other two coins, with better details.</p><p><br /></p><p>Here is an example of an AG-3 coin, graded by PCGS.</p><p><br /></p><p><a href="http://coins.ha.com/common/view_item.php?Sale_No=27021&Lot_No=13470" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://coins.ha.com/common/view_item.php?Sale_No=27021&Lot_No=13470" rel="nofollow">1893-S PCGS AG-3</a></p><p><br /></p><p>Here are the photos of the coin;</p><p><br /></p><p><img src="http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/3Obv.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p><img src="http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/3Rev.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p>Some separation can be seen in the curls of the hair, the cap has more detail and Liberty is nearly complete, and also the rim and the rest of the coin are separating themselves more, but still no detail on the rim.</p><p><br /></p><p><br /></p><p><br /></p><p><br /></p><p>G-4 - With a Good 4, you will begin to see the peripheral lettering to be complete. The Obverse should have a full rim, and have the date, letters and design clearly outlined. The reverse should have the rim full as well, and design elements must be visible.</p><p><br /></p><p>Here is an example of a G-4 coin, graded by PCGS.</p><p><br /></p><p><a href="http://coins.ha.com/common/view_item.php?Sale_No=444&Lot_No=2402" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://coins.ha.com/common/view_item.php?Sale_No=444&Lot_No=2402" rel="nofollow">1893-S PCGS G-4</a></p><p><br /></p><p>Here are photos of the coin;</p><p><br /></p><p><img src="http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/4Obv.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p><img src="http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/Rev4.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p>You are beginning to see the details of the wheat and cotton leaves, the cap and hair curls are getting more defined. The eagle is getting more feathers defined, and the lettering is bolder and clearer.</p><p><br /></p><p><br /></p><p><br /></p><p><br /></p><p>G-6 - With a Good 6, you will have a slight increase in the amount of details, the peripheral lettering continuing to be full, and the rim being complete.</p><p><br /></p><p>Here is a a G-6 coin, graded by PCGS.</p><p><br /></p><p><a href="http://coins.ha.com/common/view_item.php?Sale_No=402&Lot_No=1134" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://coins.ha.com/common/view_item.php?Sale_No=402&Lot_No=1134" rel="nofollow">1893-S PCGS G-6</a></p><p><br /></p><p>Here are the photos of the coin;</p><p><br /></p><p><img src="http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/6Obv.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p><img src="http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/6Rev.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p>The details in the wreath on the reverse are starting to become more defined, as well as more of the eagle's feathers on both wings. The hair, cap, ear, and other main points are gradually getting more detail, and can be seen with photo comparisons of the G-4 and G-6.</p><p><br /></p><p><br /></p><p><br /></p><p><br /></p><p>VG-8 - With a Very Good 8, the cotton balls are flat and identifiable, and the leaves still merge in some spots. On the reverse, one half of the eagle's right wing and one third of the left wing are smooth, and all leaves are worn, but identifiable.</p><p><br /></p><p>Here is a VG-8, graded by PCGS.</p><p><br /></p><p><a href="http://coins.ha.com/common/view_item.php?Sale_No=460&Lot_No=1391" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://coins.ha.com/common/view_item.php?Sale_No=460&Lot_No=1391" rel="nofollow">1893-S PCGS VG8</a></p><p><br /></p><p><br /></p><p>Here are photos of the coin;</p><p><br /></p><p><img src="http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/8Obv.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p><img src="http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/8Rev.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p><br /></p><p><br /></p><p><br /></p><p>VG-10 - With a Very Good 10, there will be more details in the hair, and while still flat, still higher than that of a lower grade. The feathers in the wings of the eagle will also have more details, but still won't be complete. They will have in between One-quarter and One-Half of smoothness on the right wing and One-Quarter and One-Third smoothness on the left wing.</p><p><br /></p><p>Here is a VG-10, graded by PCGS.</p><p><br /></p><p><a href="http://coins.ha.com/common/view_item.php?Sale_No=407&Lot_No=2920" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://coins.ha.com/common/view_item.php?Sale_No=407&Lot_No=2920" rel="nofollow">1893-S PCGS VG-10</a></p><p><br /></p><p>Here are the photos of the coin;</p><p><br /></p><p><img src="http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/10Obv.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p><img src="http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/10Rev.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p><br /></p><p><br /></p><p><br /></p><p>F-12 - With a Fine 12 coin the obverse of the coin needs to have the hair line on the head clearly defined and identifiable. The cotton balls are still flat, but the two lines in each ball show clearly. The reverse of the coin has One-quarter of eagle's right wing and edge of left wing to still be smooth. The Head, neck, and breast of the eagle are flat, and the tail feathers are lightly worn. The top leaves in the wreath show heavier wear than the rest of the leaves.</p><p><br /></p><p>Here is an example of a F-12 coin, graded by PCGS.</p><p><br /></p><p><a href="http://coins.ha.com/common/view_item.php?Sale_No=68122&Lot_No=62457" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://coins.ha.com/common/view_item.php?Sale_No=68122&Lot_No=62457" rel="nofollow">1893-S PCGS F-12</a></p><p><br /></p><p>Here are the photos of the coin;</p><p><br /></p><p><img src="http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/12Obv.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p><img src="http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/12Rev.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p><br /></p><p><br /></p><p><br /></p><p>F-15 - With a Fine 15 coin there are slight differences from a Fine 12 coin. Typically, the eagle's left wing will have more details than the right, all of the feathers will be completely visible.</p><p><br /></p><p>Here is an example of a F-15 coin, graded by PCGS.</p><p><br /></p><p><a href="http://coins.ha.com/common/view_item.php?Sale_No=320&Lot_No=7270" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://coins.ha.com/common/view_item.php?Sale_No=320&Lot_No=7270" rel="nofollow">1893-S F-15 PCGS</a></p><p><br /></p><p>Here are photos of the coin;</p><p><br /></p><p><img src="http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/15Obv-1.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p><img src="http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/15Rev-1.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p><br /></p><p><br /></p><p><br /></p><p>VF-20 - With a Very Fine 20 coin the cotton leaves will become more distinct, but continue to be heavily worn. The leaves on the wreath of the reverse are worn but becoming more defined. The eagle's feathers are nearly complete on both wings with just a few traces of wear. The breast is smooth, and the tips of the wings are worn.</p><p><br /></p><p>Here is an example of a VF-20, graded by PCGS.</p><p><a href="http://coins.ha.com/common/view_item.php?Sale_No=1128&Lot_No=1980" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://coins.ha.com/common/view_item.php?Sale_No=1128&Lot_No=1980" rel="nofollow"><br /></a></p><p><a href="http://coins.ha.com/common/view_item.php?Sale_No=1128&Lot_No=1980" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://coins.ha.com/common/view_item.php?Sale_No=1128&Lot_No=1980" rel="nofollow">1893-S PCGS VF-20</a></p><p><br /></p><p>Here are photos of the coin;</p><p><br /></p><p><img src="http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/20Obv.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p><img src="http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/20Rev.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" />[/QUOTE]</p><p><br /></p>
[QUOTE="tmoneyeagles, post: 928304, member: 17557"]This thread should cover basic concepts of grading the Morgan Dollar, from grade Poor 1 to MS69. I will be using the knowledge I have, photos from Heritage, and the grading standards of the ANA to point out what the coins graded and why they graded the way they did. This thread will stick to one grading company, PCGS, to maintain consistency in grading within one company. In this thread I will try to remain with one date, I will try to get 1893-S for the lower grades, as that is a coin that is available in lower grades. For higher grades, you will start to see a bigger variety of dates. And once again all photos are courtesy of Heritage ([url]www.ha.com[/url]) Without further adieu, let the grading begin. PO-1 - With a Poor 1, at most times, the value of the Morgan is melt value. (Depends on mintage/supply/demand) The date of the coin, and you being able to tell the coin is a Morgan Dollar, and possibly the mint mark can be identified. Here is an example of a PO-1 coin, graded by PCGS. [URL="http://coins.ha.com/common/view_item.php?Sale_No=371&Lot_No=67963#Photo"]1886-O PCGS PO1 [/URL] Here are the photos of the coin; [IMG]http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/1Obv.jpg[/IMG] [IMG]http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/1Rev.jpg[/IMG] As you can see not a lot of the details of the coin are visible, but the type of coin, date, and mint mark are. FR-2 - With a Fair 2, the coin is mostly worn. Some of the details that weren't able to be seen in a PO1 coin will be visible in a FR-2 coin. Here is an example of a FR-2 coin, graded by PCGS. [URL="http://coins.ha.com/common/view_item.php?Sale_No=23092&Lot_No=14074"]1879-CC PCGS FR-2[/URL] Here are the photos of the coin; [IMG]http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/2Obv.jpg[/IMG] [IMG]http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/2Rev.jpg[/IMG] As you can see the coin is still worn, but some details can be seen better in this coin. Some letters in Liberty are beginning to be legible, and some stars are worn, but can be seen. Parts of the curls in the hair are beginning to come defined as well. Also in contrast to the PO-1 Coin this coin has some detail in the cap as well. AG-3 - With an About Good 3, the rims will still be worn but more lettering will be legible than the first two grades. The obverse should have an outlined head, with the details still being worn away, the date, just like the first two coins, should be seen and legible. For the reverse, the entire design is partially worn away, like that of the other two coins, with better details. Here is an example of an AG-3 coin, graded by PCGS. [URL="http://coins.ha.com/common/view_item.php?Sale_No=27021&Lot_No=13470"]1893-S PCGS AG-3[/URL] Here are the photos of the coin; [IMG]http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/3Obv.jpg[/IMG] [IMG]http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/3Rev.jpg[/IMG] Some separation can be seen in the curls of the hair, the cap has more detail and Liberty is nearly complete, and also the rim and the rest of the coin are separating themselves more, but still no detail on the rim. G-4 - With a Good 4, you will begin to see the peripheral lettering to be complete. The Obverse should have a full rim, and have the date, letters and design clearly outlined. The reverse should have the rim full as well, and design elements must be visible. Here is an example of a G-4 coin, graded by PCGS. [URL="http://coins.ha.com/common/view_item.php?Sale_No=444&Lot_No=2402"]1893-S PCGS G-4[/URL] Here are photos of the coin; [IMG]http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/4Obv.jpg[/IMG] [IMG]http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/Rev4.jpg[/IMG] You are beginning to see the details of the wheat and cotton leaves, the cap and hair curls are getting more defined. The eagle is getting more feathers defined, and the lettering is bolder and clearer. G-6 - With a Good 6, you will have a slight increase in the amount of details, the peripheral lettering continuing to be full, and the rim being complete. Here is a a G-6 coin, graded by PCGS. [URL="http://coins.ha.com/common/view_item.php?Sale_No=402&Lot_No=1134"]1893-S PCGS G-6[/URL] Here are the photos of the coin; [IMG]http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/6Obv.jpg[/IMG] [IMG]http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/6Rev.jpg[/IMG] The details in the wreath on the reverse are starting to become more defined, as well as more of the eagle's feathers on both wings. The hair, cap, ear, and other main points are gradually getting more detail, and can be seen with photo comparisons of the G-4 and G-6. VG-8 - With a Very Good 8, the cotton balls are flat and identifiable, and the leaves still merge in some spots. On the reverse, one half of the eagle's right wing and one third of the left wing are smooth, and all leaves are worn, but identifiable. Here is a VG-8, graded by PCGS. [URL="http://coins.ha.com/common/view_item.php?Sale_No=460&Lot_No=1391"]1893-S PCGS VG8[/URL] Here are photos of the coin; [IMG]http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/8Obv.jpg[/IMG] [IMG]http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/8Rev.jpg[/IMG] VG-10 - With a Very Good 10, there will be more details in the hair, and while still flat, still higher than that of a lower grade. The feathers in the wings of the eagle will also have more details, but still won't be complete. They will have in between One-quarter and One-Half of smoothness on the right wing and One-Quarter and One-Third smoothness on the left wing. Here is a VG-10, graded by PCGS. [URL="http://coins.ha.com/common/view_item.php?Sale_No=407&Lot_No=2920"]1893-S PCGS VG-10[/URL] Here are the photos of the coin; [IMG]http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/10Obv.jpg[/IMG] [IMG]http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/10Rev.jpg[/IMG] F-12 - With a Fine 12 coin the obverse of the coin needs to have the hair line on the head clearly defined and identifiable. The cotton balls are still flat, but the two lines in each ball show clearly. The reverse of the coin has One-quarter of eagle's right wing and edge of left wing to still be smooth. The Head, neck, and breast of the eagle are flat, and the tail feathers are lightly worn. The top leaves in the wreath show heavier wear than the rest of the leaves. Here is an example of a F-12 coin, graded by PCGS. [URL="http://coins.ha.com/common/view_item.php?Sale_No=68122&Lot_No=62457"]1893-S PCGS F-12[/URL] Here are the photos of the coin; [IMG]http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/12Obv.jpg[/IMG] [IMG]http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/12Rev.jpg[/IMG] F-15 - With a Fine 15 coin there are slight differences from a Fine 12 coin. Typically, the eagle's left wing will have more details than the right, all of the feathers will be completely visible. Here is an example of a F-15 coin, graded by PCGS. [URL="http://coins.ha.com/common/view_item.php?Sale_No=320&Lot_No=7270"]1893-S F-15 PCGS[/URL] Here are photos of the coin; [IMG]http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/15Obv-1.jpg[/IMG] [IMG]http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/15Rev-1.jpg[/IMG] VF-20 - With a Very Fine 20 coin the cotton leaves will become more distinct, but continue to be heavily worn. The leaves on the wreath of the reverse are worn but becoming more defined. The eagle's feathers are nearly complete on both wings with just a few traces of wear. The breast is smooth, and the tips of the wings are worn. Here is an example of a VF-20, graded by PCGS. [URL="http://coins.ha.com/common/view_item.php?Sale_No=1128&Lot_No=1980"] 1893-S PCGS VF-20[/URL] Here are photos of the coin; [IMG]http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/20Obv.jpg[/IMG] [IMG]http://i605.photobucket.com/albums/tt136/tmoneyagles_coins/Morgan%20Thread/20Rev.jpg[/IMG][/QUOTE]
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