I'd like to learn more about grading coins. I know I need more books... so far all I have is the Krause 'world' book and it's great, but I expect it'll take me years to learn enough, if ever. I was just given (sometimes my kids REALLY impress me!) some Morgans. A few are in what I would call pretty great condition. Would anyone like to help me learn more about grading by telling me what points to look for on these? I'm adding pictures in the best detail I can take them right now. They were taken on white paper and in the sun, so the pictures should be very unforgiving. I notice the 1879 is graying, and not at all shiney. I also see good detail in the hair, on the rim, and on the breat feathers. The 1901o is rather shiney, appearing to be almost white in area's. I also notice some wear to the breast feathers and hair. These are two of half a dozen I was given. There are also some 1921's that appear almost frosty.
Photograde, by James Ruddy, is an excellent resource for circulated coins, including Morgans. Regarding the pictures, I'll defer to the dealer experts, as I do not have my Photograde book on me now, although if I had to guess I would say the 1879 is AU and the 1901 is VF. Also look at the past "grading challenge" threads started by National Dealer.
Hello Art. Please consider purchasing a copy of "The Official Red Book of Morgan Silver Dollars" written by Q. David Bowers. Chapter Eight covers Grading and the Marketplace. On pages 82-84, the ANA grading system is explained in detail and you can compare your Morgans with pictures of the Morgans on those pages. It appears to me that your 1879 Morgan is at least EF-40 Typical and maybe even EF-45 Choice or AU-50 Typical. AU-50 Typical: Obverse: Traces of wear show on hair above eye, ear, edges of cotton, leaves and high upper fold of cap. Partial detail visible on tops of cotton bolls. Luster gone from cheek. Reverse: There are traces of wear on breast, tops of legs, wing tips and talons. Three quarters of the mint lustre is still present. Surface abrasions and bag marks are more noticeable than for AU-55. EF-45 Choice: Obverse: Slight wear on hair above date, forehead and ear. Lines in hair well detailed and sharp. Slight flat spots on edges of cotton leaves. Minute signs of wear on cheek. Reverse: High points of breast are lightly worn. Tops of legs and right wing tip show wear. Talons are slightly flat. Half of the mint luster is still present. EF-40 Typical: Obverse: Wear shows on hair above date, forehead and ear. Lines in hair well detailed. Flat spots visible on edges of cotton leaves. Cheek lightly worn. Reverse: Almost all feathers gone from breast. Tops of legs, wing tips and feathers on head show wear. Talons are flat. Partial mint lustre is visible. Your Morgan looks like it has little wear on the cheek and the breast feathers but it has also lost most of it's mint lustre. I hope I'm in the "ballpark" (although not in left field ) but if not, National Dealer and GDJMSP, among others, will give you a better idea of grading your Morgans.
This is a good one about Morgan dollars: http://home1.gte.net/res05izg/index.htm Overall: http://coingrading.com/intro1.html I am nothing more than a rank amateur, but I try to see as many coins, and pictures of coins, as I can. I love going to the local coin shop and browsing. When they pull out the good stuff, I really see the different grades. When they're not busy, the owner will give me a little insight. But then, he is a great guy, YMMV. Go to ebay, save some good close up pictures of GRADED coins for comparison.
It could easily be because of the pics - but the coins appear to be rather flat and have little luster. But luster can be quite tricky to capture in a picture - especially a scan. It could also be that the coins have been dipped and have little if any luster. Since luster is one of the most important grading criteria it makes a great difference in how those coins would grade. But let's assume it is because of the pics and grade the coins on detail. The '79 - I woud say AU50 - if the luster is really good maybe AU55 - maybe. The '01 - VF25/30 - I'd need to see the reverse. I would suggest a copy of the ANA Grading Guide. And if you really wish to learn - become a member of the ANA and sign up for their Home Study courses on grading. They are excellent based on everything I have been told by those who have taken them. You could also sign up for the live grading classes given by the ANA every year.
I agree with GDJMSP. All of my employees and I have completed the ANA course at least once. Grading is the hardest part of coin collecting. You can develop a good base line in a relative short period if the effort is put in. I would suggest that you start with one series to begin with. The ANA grading book is a good one, so is PCGS, and Photograde. No book will teach you how to grade. You must look at many coins. Many in the same series, and many in the same grade. In my experience, if you want to master any grade in a given series, roughly 1000 coins must be viewed of that particular coin in that grade. An example would be a 1884-CC in MS-64. Look at that particular coin 1000 times, and you will know how to pick one out. That same principle will work with each grade and every coin. You have to remember that not all Morgan's will grade the same way. Books do not teach that. Each coin series must be judged on its own merits. Many branch mints must be graded differently from each other due to different striking pressures and other factors. Sorry if this is too much info. I do not want to confuse you.
Just take your time and do as much reading as possible. Look at as many coins as you can. The easiest way that I am aware of is to buy rolls of coins at the bank. Go through each coin and grade the coin. Make piles from G through Unc. Then use a guide such as Photograde to see how close you got. Make notes about the ones you got right and wrong. It is an art that just takes lots of practice. It is well worth the effort. Good grading skills are a very valuable asset to have.
Thanks again to everyone who answered. I guess I'm going book shopping again on E-bay. Time to start reading. I did stop in at a local coin dealer's shop and ask his advice on learning more about Morgans and how to grade them (not sure if this is a collecting niche for me, but I do like them). The man on the counter said they were worth little but he was kind enough to offer me $4 each. I was nice, I didn't hurt him.
ND, I am certain most are not. My own background is in auto repair, where every shop is automatically regarded as populated by thieves. I have learned not to judge the whole by the actions of the few. This forum is an example...... good folks always willing to help.
From what I have observed in the coin industry, dealers like that are very short-sighted when they sqeeze every buck they can out of less knowledgeable customers, but in the process get a bad reputation from persons like you who know what he is trying to do. The most successful dealers have a good reputation and rely heavily on repeat business from good customers -- they get that way by treating all customers fairly and in then end create a far more profitable business. But, I guess that is true for any business, not just coins.
