Hi. These are my first morgan dollars, given to me by a friend when I started being a coin fanatic. How do I evaluate them as far as condition goes? I see pictures of other coins that are given AU-50 to MS-63 that look exactly the same to me. I'd like to know what these would be, and why. The pictures are pretty representative. The 1902 is slightly more lustrous in real life than it is in the picture. 1901 S 1902 S Thanks so much!
It's a little hard to tell from the pics, But IMO both coins appear to be cleaned. The top coin you can tell from all those fine scratches on the obv, the rev isn't as bad. The second coin doesn't have the fine scratches of a harsh cleaning that I can see, but it seems to have lost it's luster. The bottom coin has definitely been circulated. You can see light wear on the hair on the obv, and slight wear on the eagle's breast and possibly the right wing.
I recommend that you buy a copy of the ANA Grading Standards and read it. It will explain what to look for and how to grade coins. Your Morgans both appear to be circulated. Notice the lack of luster on both coins. Uncirculated coins typically have Mint Luster. The luster goes away as the coin is handled in circulation. Also notice all the little "chicken scratches" on the '01-S Morgan; these little scratches often are caused by the coin rubbing up against other coins, keys, etc. in someone's pocket. It is also possible that both coins have been cleaned. I base this on what may be dip residue - the discoloration around the numerals and lettering. Others are much more knowledgeable in this area than me.
If your looking to start collecting Morgans, I would recommend The offical Red Book Guide to Morgan Dollars by David Bowers it's a great book. It also has a small section on grading. -Mike
Hey mspenny, I like your Morgans. They are very nice examples, nicer then mine. The great thing about becoming a coin fanatic is that it should drive you to want to study about the coins your into, its what happened and still happening to me. My advise is to put your Morgans away and start looking at Morgans that have been graded/slabbed by NGC, PCGS, ANAC or even ICG. In hand is the best way, but online auctions that have great pics will do. Give yourself time to get a sense of what an AU Morgan is compared to a MS. Then when your feeling confident go back to your coins and look at them again, I bet you will have a much stronger opinion and understanding of their grade. As long as you store them with care they will remain in the same condition that they are in now, only you will have changed. You'll also make much better decisions when purchasing coins when your better armed with knowledge and experience. We all makes mistakes, except them and learn from them. Enjoy Yourself and Keep on Collecting!!! Allen
If you're looking at assembling a set of Morgan dollars I would suggest picking up a copy of the Encyclopedia of Morgan & Peace Dollars by Leroy Van Allen and A. George Millis (VAM) which includes information on grading, history of the Morgan dollar and an identification guide for die varities.
