Guess the grade, Morgan Dollar....

Is that price on the reverse sticker for real? $6K for this (?), or is that a wishful dealer sticker? For a coin as common as they come, that's an eye opening price. Label fever much?!?!

 

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You're not buying the label, you're buying the coin. This is not a common coin in the grade. I know if I had the money, I would love to own a piece like this

 

Between NGC and PCGS, there are more than 450 graded examples of the 1880-S in MS68. There are 10 graded MS69 between the two companies. More than 85 have been approved by CAC. For that kind of massive mark-up (if $6K really is the price) then you could have nearly 10 graded MS67 coins.

My point is, given the subjectivity of the graders -- unless you're a registry game player, $6K for a coin that common is questionably sane. Again, just my opinion, and to each his/her own. But, I would call it quite common in that grade given the population numbers I see. Of course, my definition of common varies from most, as I find it annoying to call anything rare unless there are only a few dozen ever minted. At best, I'd call it "conditionally scarce" -- and (even though grading from images)

I wouldn't be too happy if I were the owner and saw that more than 80% of people guessing the grade here thought it was less than an MS68. I personally guessed MS67 -- again, given the limitations of grading from images. In the rarefied air of "MS68" a coin better just blow my socks off -- and this one was ho-hum IMO.

Cheers.

 

apparently some people here would grade it AU or details, so I wouldn't be too concerned about what people here say

 

I myself am a collector of the high grade coins. I don't really buy coins based on their mintages, which is why I would pay thousands for a relatively common coin. If I were looking to buy a high grade Morgan, I would probably wait for a very clean high end MS67, rather than pay many thousands more for an MS68. And I most definitely wouldn't want to own a coin that is graded MS68 but doesn't look MS68. It really depends on what you collect. I love high grade Morgans and don't care how common or rare they are, and you enjoy rare pieces.

 

My evaluation, as a long time Morgan collector is that it probably is a 68, although I don't think it is CAC high in grade--I would consider it borderline. The folks that guessed MS 67 I feel are probably closer to the truth, as I would not pay that kind of money for that coin. I think my friend is asking too much, IMHO.

 

I guessed 68.

Briefly looking at Heritage archives, a 68 should go for about $3K (common date 78, 79, 80, 81 (S)). I'm thinking the sticker on the back was a dealers wishful thinking.

The coin pictured looks to have some PL. Maybe the seller thought it should have that designation and priced it accordingly.

Also agree that when/if I do buy a Morgan in 68, I want to be blown away. Here's a 66+ that I bought from heritage and in hand, it knocked my socks off. I think it's undergraded, but at this moment, don't really care about that.

 

Say again.

 

There are some people here that would grade this AU, or cleaned. So in other words, don't listen to them, they don't know what they are talking about

 

I also like high grade coins, but I don't like to pay insane money for them. I'm willing to pay up for a great coin, but I purchased the coin pictured below at nearly 1/8th of the $6K that the MS68 posted coin is supposedly worth(?). It has not been to CAC, and I really could not care less. To my eye it is properly graded, and will remain in my type set for many years to come.




I am mostly a type coin collector of USA material -- and a thematic collector of world material. I buy what I like, often with no "hole" to fill in a particular set -- but because I love a design or a particular engraver or theme.

A coin like that in the OP is really only destined for one place -- a registry set for someone who thinks of their coins as an investment first (and as a hobby possibly not at all or a very distant second). As I said before though, to each his/her own. The hobby is different for everyone, and as long as one enjoys it they can go about it however they see fit!

Cheers.

 

Even if the coin was a solid MS68, a $6K price tag is way too high.

 

That is a great Morgan you have there. My point is, I enjoy the coin and if it was priced fairly, I might consider purchasing it. Well, only if I had a boatload of money to spend. If I wanted a high grade Morgan for my collection, I would find a 67 or 67+ that looks very nice for the grade and could possibly be a 68, at the fraction of a price of a 68.

 

I called it a 65 mostly due to the mark on the neck and the date any other date other then 79-81-s I'd have called it an easy 66 just figured the tpgs would be over hard on it nice coin