Hey CT! Just bought my first coin over $100, and I'm nervous but feel good about it!!! It has not shipped yet, but I wanted to see if the forum thought I got a good/decent deal. Also, is this cleaning or just wear on the face? http://www.ebay.com/itm/221081898101?ssPageName=STRK:MEWNX:IT&_trksid=p3984.m1439.l2649#ht_500wt_685
I can't tell if it's been cleaned, but with those holes on the reverse, I wouldn't have touched it. You should have asked here before buying it. Eat the return postage and send it back.
Never buy a coin that a poisonous snake has damaged his fangs on. Seriously, it's a thrill to buy your first pricey coin but I agree with the others: you can do better. You might want to consider buying a slabbed (professionally graded) version; this way, you'll be sure to get a problem-free coin. Good luck. In fact, you can post some auction possibilities here if you'd like feedback on whether something is a potential good purchase.
I agree with the others as well. I actually like problem coins whenever the "problem" isn't too signifigant (holes, damage, ect) because you can typically get a good discount. The holes in the back of coin kills it though. I'd return the coin and keep looking around for another 1881-CC, I've seen a few go on eBay for $150-$200 in the same condition with no reverse damage.
Please send that one back. Graded, problem free '81 CC Morgans in Fine condition easily sell for under $300. Here is just one example from Heritage. It went for $264 If you do not have a Heritage account, sign up right away. It is free and one of the best places to check on recent auction prices. http://coins.ha.com/c/item.zx?saleNo=1172&lotNo=9207