Goldfinger's Shiny Silver Friends

I think affordability of lots of coins even in all the Mint States accounts for it.

Even with the premiums, affordability -- esp. if you go down to MS-63 or so for some years -- is much higher than for the gold coin series.

 

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Thanks....I have lucked out so far, seem to have chosen some good coins with my most expensive coins.

I really need to read the ANA grading book and a few others. Outside of looking at coins on my PC I can't go to coins shows or shops ever week to gain experience.

 

Silver is in the neighborhood of $16.30, but you have to factor in that a silver dollar (being 90% silver) only contains 0.7735 oz of silver, giving about $12.61 of silver x 50 = $630.50.

 

Yup, Paul, I keep forgetting.

I'm not familiar with Numismedia, I have to check MS-66 CAC MSDs on Ebay and Heritage to see if I paid average or a great price. Regardless, seems like a nice coin so I am happy.

 

I was offered another MS-66 AND an MS-67 common, both with AND without CAC. I'm told it was a common year, friend will get back to me, but he said it was either low-1880's Carson City or maybe a late-1870's "S" mint.

Any thoughts on what the cheapest common Morgans are worth in MS-66 and MS-67 if I go with a CAC ?

 

And that is all that matters!

 

Most common are the early "S" mint coins in that grade. Pricing will depend on the coin. Be picky. Just because it has a CAC sticker doesn't mean you can't find one better.

 

Yeah...but....unless I have the ANA book right next to me and spend 10 minutes looking at the coin, I'm not sure I can be as good as some of you.

I think within a few seconds I can guestimate a coin to within 3-4 grades normally (but not all the time, if one slips from MS to AU to EF to VF etc.). But after that, I have to start quantifying bag marks...dings...discolorations...any rim damage...high points..strike..luster....etc. etc. etc.

Unless I have a 10-20 point checklist for that particular coin, I won't remember more than 4-5 things to look for.

I guess the pros @ a TPG doing it for years can do it super-quickly and accurately but I can't.

 

No....but even someone as good as you, JP....if you saw that MS-66 MSD CAC I just bought...and tried to do 'better'...how long would it take before you found either an ungraded coin in those white squares OR an undergraded and/or non-CAC coin at a commensurate price discount to what I paid to make it a 'better' buy ?

You might have to goto dozens of LCS...a few shows...look at hundreds or thousands of coins. Or you could get lucky and find one at a small show..

My point is at least with the TPGs and CAC, it's easier to find out what you want. You may or may not have to pay through the nose for it, but at least you know it's going to be pretty close to the true grade of the coin (most of the time ).

 

One thing for sure, I'm a fan of the TPG's. If it weren't for them, I'd likely not be in this hobby. They even the playing field and for that I'm grateful. Are they perfect? Nope. I stick with NGC, PCGS and white ANACS.

As for the Early date "S" Morgans, here are some POP reports:

NGC:
1879-S: MS66- 7451 MS67- 2190
1880-S: MS66-12,005 MS67- 3544
1881-S: MS66-17,143 MS67- 4401
1882-S: MS66- 6577 MS67- 1879

PCGS:
1879-S: MS66- 6996 MS67- 1362
1880-S: MS66- 9947 MS67- 1976
1881-S: MS66- 12,722 MS67- 1848
1882-S: MS66- 4570 MS67- 823

There are so many available, even if you're ultra picky, there are plenty more available. eBay, Heritage, Great Collections, Stack's, David Lawrence, Northeast Numismatics, they all have them available all the time. Spend a day and review photo after photo. You'll quickly pick up on the nuances of the coin and be able to train your eye. BTW, I think they're easier to grade than Saints. Gold is so soft, tick marks and "rubs" are treated differently.

 

Is This In The Ballpark ? Got a text message this morning while writing my weekly financial reports that a friend saw an MS-67 1879-S Morgan at his LCS over in NJ. He said the guy will hold it for him/me for today. $900 for the coin. Trying to have my friend go back (he's 5 minutes from the place) and take some pics but I assume if it's MS-67 it's pretty high quality.

Not sure it's worth driving 40 minutes to check out if the price is way out of kilter -- is it ?

 

I wouldn't do anything until I saw pictures of the coin. Price sounds okay, but I'd want to make sure the coin met my eye.

 

Thanks JCP....I asked him to go back and get me some pics, since it's 1 1/2 hours for me to do a round trip and 10 minutes for him. Will let you know if he sends me pics.....

 

$900 sounds like it's in the right ballpark, at least.

 

You think so ?

I can't find completed auctions on Heritage for MS-67's but Ebay auctions for MS-66's 1879-s seem $200-$300. Seems like a big jump for 1 grade, but I know sometimes when you hit that inflection point it can fly.

 

Take a look at these auction results instead. MS67 does seem to be the tipping point for this coin.

 

Just my look, I'm always tipping over.....

 

That helps a little, thanks Paul.

But take a look at the filter I applied:

http://www.ngccoin.com/auction-cent...1879-s-s1-ms-fgrade-67-tgrade-67-coinid-17092

Prices seem to be all over the map for the same general description. OK, you can throw out outliers but look at the 2nd coin, $2,115 and it doesn't have CAC or DMPL or anything extra. So it's sometimes tough to use both Heritage and other auction houses and/or Ebay (I find Ebay a bit easier to use).

It looks like $700 or so gets bids for an MS-67:

http://www.ebay.com/sch/i.html?_fro...LH_Complete=1&_nkw=1879-S+Morgan+MS67&_sop=15

 

When using Heritage auction archives, I kind of average the results. Lots of times the high $$ exceptions are due to toning.

Another thing I do is look for the coin in their listed auctions. I'll click on the listing because they have a box with 8 price points as well as the NGC and PCGS "+" pricing. I value the Heritage value index the most.

 

Yes, I realize that no 2 MSDs are exactly alike and some people LOVE toned MSDs, DMPL, etc. I'm even seeing big differences in generic MS-66's and MS-67's where it's straight (no other descriptions), so it must either be some days there were more bidders or maybe the coins looked different to those who bid (or didn't bid).

I'm guessing if an MS-66 or 67 has a mark right on Liberty's face that is more of a negative to potential buyers than a bunch of bag marks elsewhere on the obverse or reverse for a similarly-graded coin.