hey guys, Im looking at a Morgan online right now and its being sold at a pretty decent price. It is raw and the dealer has graded it MS60?? Do you guys think this is about right?? Take a look: Thanks for your input! Jim
No expert at Morgans, but there appears to be wear on the eagle's breast, but I could be wrong. Phoenix
That might just be a typical soft strike on the eagle's breast - it's hard to tell about that (and, due to the lighting, the grade) from the images. My guess would be that the coin grades AU58, but I can't tell for certain that it doesn't grade MS60.
Do you think AU58 is about the lowest grade it should receive?? Even at AU58 its a good price.... Jim
I think so, though images often don't show problems that can be seen in-hand. What do you consider a "good price"? And don't forget about any applicable shipping costs. It's a common coin, likely in the AU58-MS60 range and doesn't have much value.
Thanks for the replies guys, somethings kinda fishy here because the ask (greysheet) of a 1921 MS60 Morgan is 22 and this seller is selling it for 22......... I think its an AU just based on price alone.. Jim
In that case, it doesn't strike me as a particularly "good price" even if it is MS60. By the way, I would hope that if he had priced it a lot higher you wouldn't think "based on price alone" that it must grade higher.
No, definitely not. However if it really were MS60, why would he sell it at greysheet ask price?? Doesnt make sense... Oh well. Can I ask you why you dont think the greysheet ask price is not a good price if graded correctly?? Thanks Jim
It's a very common coin in low grade Unc. or AU58 condition and as such, there is not a lot of demand for it. Depending upon the coin in question, "Graysheet" ask is not automatically a good deal. As a dealer, I pass on a lot of coins at "bid", even though I pay a hefty premium over "ask" on many others. It really depends on the coin.
I think [correct me if it's wrong] that if you are paying the greysheet ask price, you are basically paying full price, which can't really be considered a "good" price -- all assuming that it really is uncirculated. But if you like it, buy it. The price difference isn't that much to obtain something you really like.
Wow never thought of that, thanks guys, interesting stuff. I figured if I paid the dealer to dealer ask price I was doing well, never took into consideration the other factors that go with it. Im still learning..... Jim
Pricing in the coin market, Ebay excepted, is very efficient. If something is priced to be a bargain, there is a high probability that there is something wrong with the coin, or the photo at least makes it look somewhat better than it is. Some people can spot the great deals on Ebay. I'm not one of them.
I think the others have pretty much covered this but it's a VERY common date. AU to MS60. I'd pay for the silver content and add a buck. You can find coins like this in dealer's bargain bins.
