I found a source selling NGC Slabbed MS 63 Morgan Dollars for $60 with free shipping. Is this a good price?
I think he means common-date Morgans. Buy the coin, not the holder!............I've seen some 63's that have nasty reeding hits on the face that are just plain butt-ugly. You have to judge each one of them on their individual merits. About 3 years ago, I won an auction lot of 20 - 1888-O graded by PCGS MS63 (17), MS64 (1) & MS65 (2) for $1250. They were all blast white with booming luster. Most of these had a very weak strike with almost no detail on Liberty's ear and the hair above, just one flat blob. The same was true on the reverse for the eagle's talons, legs and tailfeathers. Surprisingly, three of the MS63's looked nicer than the 64 & 65's, so I kept them and sold the other 17 for $1200. Why don't you make the seller an offer of $1000 for 20 of them and see what he/she says? It wouldn't hurt, and you might just be surprised. Chris
I wouldn't pay $60 for a MS63 common date/mint Morgan because it's slabbed and says it's a MS63 grade. cpm9ball is right, buy the coin, not the holder or slab. If you think the coin is worth $60 to add to your collection, then buy it, be happy. If you don't think it's worth it, go on to the next coin to buy.
I guess that depends on how you define "good". Let's put it this way, it's pretty common to be able to buy slabbed, common date, 63 Morgans for around $50. It is even more common to be able to buy raw, common date, 63 Morgans for just over melt. So while $60 may be a fair price, it is not exactly what I would call a "good" price. For me personally, a coin being slabbed has never been a prerequisite for me to buy it. But that's because I can almost always look at a coin and tell if it is a problem coin or not. But I realize that not everybody can do that. So it is often a better choice for many people to only buy slabbed coins. However, contrary to popular opinion, a slabbed coin is not worth any more than an equal raw coin - to an educated buyer. Go to any respectable dealer, offer him 2 coins of equal condition and grade - 1 slabbed and 1 raw. He will offer you the same price for both coins. So would I if I were buying. Or - if you are looking to buy from that same respectable dealer - he will ask the same price for both the raw coin and the slabbed coin. So would I if I were selling. But in the coin market there are many buyers who believe that a slabbed coin is worth more than a raw coin. And they will pay more for the slabbed coin. But that does not mean that the slabbed coin is worth more. It only means that those buyers are uneducated and are over-paying for the coin. A coin being slabbed by NGC or PCGS absolutely makes it easier to sell that coin. But being slabbed does not make it worth any more than its equal, raw, counterpart.
NFN, but these are becoming a dime a dozen so too speak. Very common, dates, mints, and grade 63 and a lot of Morgans are selling below their book value lately as well.
The way only way I would say $60 is a good buy is if the coin is toned and if thats your taste. Otherwise non key dates can usually be had for $30-40 ungraded.
I would go for an ungraded Morgan especially if it is a common date. You can probably get two for that price. TC
