Lower grade Morgan help

Discussion in 'US Coins Forum' started by NorCal, Jun 27, 2020.

  1. NorCal

    NorCal Member

    Hello, yesterday while at my lcs I saw two Morgan’s that I’m kicking myself for not getting. They were a 1903s in f-12 condition and a 1879cc also in f-12 condition. They were both marked at $85 each. Should I go back and get them? Thanks
     
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  3. longshot

    longshot Enthusiast Supporter

    Sounds so cheap on the CC, it leaves one with questions.
     
  4. johnmilton

    johnmilton Well-Known Member

    You need to know what you are doing when you buy raw Morgan Dollars these days. The Chinese have made so many fakes, you can't trust anything. They make "circulated" pieces that are designed to throw you off guard.

    For what it's worth, the Grey Sheet says that the 1903-S is worth $80 in Fine. The 1879-CC lists for $170 for either the "capped die" or the normal one. It's hard to believe that someone is selling an okay for the grade coin at half of "bid." Beware.
     
  5. NorCal

    NorCal Member

    This place has been in business for years. Very knowledgeable coin guy. He prices the lower grade coins to move them quick and he doesn’t do ebay.
     
  6. johnmilton

    johnmilton Well-Known Member

    If you get a return policy and post pictures here, maybe it's okay, but like I said, why the deep discount?
     
  7. NorCal

    NorCal Member

    That’s why I hesitated. This is a big shop that sells a large volume of coins. I know they have the machines to test them.
     
  8. NorCal

    NorCal Member

    Wish I took a pic. The shop is not open until Monday. At the time I couldn’t remember if the 1879 or the 1878cc was the lower mintage. Ended up getting a 1932s and 32d quarter for $70
     
  9. NorCal

    NorCal Member

    They had a lot of Morgan’s in higher grades. My guess is that they wanted to move some. They normally wouldn’t put that grade of coin out in their case but since it’s a better year they did
     
  10. baseball21

    baseball21 Well-Known Member

    So then why would he sell something for less than half of it's market value? At best it's over graded or a details coin
     
  11. NorCal

    NorCal Member

    My best guess is that nobody comes in the door looking for lower grade Morgan’s. A lot of people are moving out of California right now and are selling their coins before the move.
     
  12. NorCal

    NorCal Member

    Since I won’t be able to get back to the shop for awhile I’ll pass the deal on. Contact the Goldmart in Redding California if interested. Someone here may need it to fill a hole.
     
  13. baseball21

    baseball21 Well-Known Member

    Lol ah so marketing got it :rolleyes:
     
  14. NorCal

    NorCal Member

    Lol I’m not a Morgan guy. Somebody may need it. I not connected to the shop, they don’t need help selling coins. I will probably take the chance when I’m back in town.
     
  15. Mountain Man

    Mountain Man Well-Known Member

    One of the things I've learned for most purchases, is to set them to the side and give them a couple of days, or more, and then revisit them and you'll find you reevaluate that purchase, which in many instances has saved me money. That's just me though.
     
  16. NorCal

    NorCal Member

    Very good advice. Sometimes it’s better to give it a few days to think about it and do some research. Impulse buys can be very bad sometimes
     
    Mountain Man likes this.
  17. Collecting Nut

    Collecting Nut Borderline Hoarder

    Go back first chance you can and look at them closely. If you like them, buy them. After all, it's your collection and only you decided what goes into it.

    Welcome to CT.
     
  18. NorCal

    NorCal Member

    I plan to. I usually like buying lower grades of hard to find coins mainly because the high grades are serious collector stuff and in coming years even the low grades will disappear on the open market.
     
  19. Collecting Nut

    Collecting Nut Borderline Hoarder

    Even the lower grade coins will go up in value. Just not as fast as the upper grades.
     
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