How bad does a nick hurt value of 1894 Morgan?

I have a 1894 Morgan Silver dollar--no mint mark. It has has a slight nick on the edge. How bad does this hurt the value? I took it to a coin dealer who said he would only give me melt value for it, which seemed off. I truly appreciate your input.

 

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1894 No Mint morgans are worth $850 in Grade: Good. If that coin is legitimate, then your "dealer" should have his head examined.

 

That is quite a bit more than a "slight nick" and will greatly effect the value. If genuine, it is worth well top of melt, but don't expect near what was stated above.

 

You're looking at 30-45 dollars max. The nick does not really make a difference in profit you'll make considering the rest of the coins condition.

 

I appreciate all your feedback. It seems that there are varying opinions on what to expect. If I do sell it, I want it to be a win-win for both me and the buyer. However, I do not want to be ripped off.

 

Can you try to post a few betters pics, especially of the reverse, and of the date. Shoot it straight on instead of at an angle.

 

It hurts of course, but I think it is also one of those "it's worth what someone will pay for it" times. Throw it on the bay and see what happens. I would be surprised if it doesn't go $500/600 on there.

 

You'll get a details grade , I'd expect at least 50% or more of a high VF grade . Anyone who tells you you'll only get $45 for it is uninformed . It's still a rare coin that many people need to fill that hole . I'd say $500 up to $750 . Depending on the going price now . I've seen a Bust half that was tooled and had the cheeks whizzed bring over $1000 at auction so though it's not worth what an undamaged piece would bring it's still valuable .

 

Why are you guys thinking so much? It's in poor condition, and no morgan of that year and condition will go over 50 unfortunately.

http://www.ebay.com/sch/i.html?LH_Sold=1&_from=R40&_sacat=0&LH_Complete=1&_nkw=1894+morgan&_sop=13

 

What is wrong with the rest of the coin , it looks ok to me .

 

http://www.ebay.com/itm/1894-MORGAN...92?pt=Coins_US_Individual&hash=item5d41f88aa8

http://www.ebay.com/itm/1894-MORGAN...12?pt=Coins_US_Individual&hash=item565917add8

A morgan from San Fran or New Orleans I agree, not a Philly. Those two links are from your link. Like rzage said, it is a nice details hole filler. For half the cost of a problem free example in VG

 

http://www.ebay.com/itm/1894-morgan...D&orig_cvip=true&rt=nc&_trksid=p2047675.l2557

Here you go, I found a few more links if interested. But you guys were right regardless, I was wrong. You should expect at least 500 for the coin.

 

I could see a $500+ coin. It wouldn't receive a grade if slabbed, but it is still nice besides the damage.

 

Here's an example of a low grade '94 that sold for $515.00, and I agree with rzage.. this coin would sell for more than that.

http://www.ebay.com/itm/1894-P-Morgan-dollar-/200928132892?pt=Coins_US_Individual&hash=item2ec83fff1c&nma=true&si=0fE6PFbDYvjkTPGPRonoh5jnwlA%3D&orig_cvip=true&rt=nc&_trksid=p2047675.l2557

 

If that is a legit coin, someone got a deal.

 

Yeah I know someone got a huge deal yesterday.

 

Thanks guys! That local coin guy who offered me melt value obviously seems like a fraud.

 

I wouldn't say he's a fraud, per se. He might just not have enough experience to know that the 1894 is one of the keys in the series. If the coin is legitimate, even in the extreme damaged state that it is, you're looking at a $625-$645 hole filler on eBay.