Need advice sorting/grading 500 Morgans

Discussion in 'US Coins Forum' started by Bogardis, Feb 11, 2019.

  1. Bogardis

    Bogardis Active Member

    Help! Looking for everyone’s advice, opinions, and input on this. Recently my wife’s grandmother passed away. Today, we get something that no one knew about. Locked up in a safety deposit box was a canvas bag of over 500 Morgan’s, which belonged to my wife’s great grandfather. Before her grandmother passed away, she mentioned that there was a coin collection in the box that she had inherited when her father passed away, but had no clue what it was as she had never seen it. Turns out it was the canvas bag of Morgan’s.

    What would be the best and most practical way to go through them and sort them. 5-10 of them would be no problem, but 500 kinda blows my mind. I haven’t seen them in person yet, but today at 4 o’clock they will be delivered to me. My mother in law showed me a picture of one and I almost passed out. Beautifully uncirculated. Don’t know yet if the whole bag is going to be uncirculated yet or not, but I’ve never been so anxious to find something out!!!
     
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  3. Clawcoins

    Clawcoins Well-Known Member

    You'll have to sit down and spend some time with them.

    Inventory them in Year and Mint mark on an excel spreadsheet.

    And don't be in a rush to sell them. You'll get silver spot (the cost of silver) at many places and they are probably worth more than that. You have to know where/how to sell them.

    The experts should be around shortly to give you more info - otherwise I'll ping them later.

    Sorry to hear about the loss of your wife's grandmother.
     
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  4. CoinBlazer

    CoinBlazer Professional Teenager

    It isn't entirely necessary but if you really want to learn everything and if you sell, get every dollar possible, you could always buy some guidebooks to silver dollars, VAMs and grading.

    You have a hoard, you can turn it into a pretty good collection.
     
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  5. Dave Waterstraat

    Dave Waterstraat dave700x

    Heck, if they're in a canvas bag they could all be the same date/ mint mark. Keep us posted.
     
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  6. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    Wow.... That would be an exciting, yet overwhelming feeling..... I am with @Clawcoins ...... You are simply going to have to dedicate yourself to the task for a period of time. I had an old bossman once that told me a big task doesn't look so big once you start.... My sympathies to your family for your loss.
     
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  7. longshot

    longshot Enthusiast Supporter

    This was one of my first thoughts too. If they are a good mix, I recall Q David Bowers writing of drawing a grid ( a 10x10 grid of 2 inch squares on a tabletop, perhaps), to sort bags of dollars.
     
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  8. Oldhoopster

    Oldhoopster It seemed like a good idea at the time.

    Adding to the other advice:

    Buy a copy of "A Guide Book of United States Coins". Only $10-15 and will give you an idea of which coins are rare, which are common, how to find mintmarks and basic grading.

    DO NOT clean anything

    Try to minimize moving the bag or do things that could cause the coins to move around (including emptying the bag). The silver dollars are heavy and can cause marks and other damage that can reduce the value

    Only handle coins by the edges. Never touch the front or back with your fingers. If the coins are worn, this isn't that critical, but if they're in new condition, you can reduce the value.

    Put together a list like others have said

    Hope this helps. Best of luck
     
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  9. -jeffB

    -jeffB Greshams LEO Supporter

    Wonder if it would be good to go ahead and buy a whole lot of SaFlips? The first thing I'd want to do is protect the coins from getting any further bag marks, or any other damage.

    That, and the usual "wash your hands, handle by the edges, don't sneeze, etc, etc..."
     
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  10. Clawcoins

    Clawcoins Well-Known Member

    here's a "basic" Morgan website to preuse in the mean time ... https://www.usacoinbook.com/coins/dollars/morgan/

    It's broken down by Year and Mint Mark (the location where it was made) which is normally located above the word Dollar on the back/reverse as a "CC", "S", "O" or nothing there for "P" Philadelphia

    that's about the extent of my Morgan knowledge. LOL
     
  11. SlipperySocks

    SlipperySocks Well-Known Member

    A labor of Love......
     
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  12. Dave Waterstraat

    Dave Waterstraat dave700x

    And even less so when completed...;)
     
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  13. JPeace$

    JPeace$ Coinaholic

    First off, are you a coin collector? Do you have any knowledge of this hobby?

    As others have said, be very careful in handling these coins. DO NOT CLEAN or WIPE THEM with ANYTHING!

    1) Buy a book on Morgans "Official RedBook: A Guide Book of Morgan Dollars"
    2) Buy a book on VAM's
    3) Buy clear airtite holders for Morgans
    4) Buy cotton gloves or finger cots. Something to protect the coins from the oils on your hands
    5) Buy the book ANA Grading Standards

    You can buy all of the above at Wizard Coin Supply online. With the above, you'll be able to handle the coins safely and have reference material to start understanding what the hoard potential is from a financial perspective.

    Do this first, then sort by year and mintmark. Once you have that done, I suggest you come back to this site and post the inventory. There are many Morgan collectors on the site and we'll be able to help guide you with the find.

    DO NOT sell any of the Morgan's until you know what you have.
     
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  14. Hommer

    Hommer Curator of Semi Precious Coinage Supporter

    You must be a collector since you have been a member here for a couple of years, if not you've been waiting on grandma for awhile. Enjoy the gift, thoroughly. I would try and VAM each one, would be rewarding if you keep or sell.
     
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  15. BlackberryPie

    BlackberryPie I like pie

    Anything with color on them? Post photos...
     
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  16. Lon Chaney

    Lon Chaney Well-Known Member

    How does a thread with that title not have any pictures?
     
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  17. messydesk

    messydesk Well-Known Member

    First of all, COOL!

    Now some questions. How long do you want this process to take? Do you want to liquidate some or all of the coins? Would you be willing to work with someone to help you sort through stuff to determine what should be graded, what should be sold as rolls, what are the keepers, and so on? Where (approximately) do you live, such that someone could be recommended to you to help you out?
     
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  18. Bogardis

    Bogardis Active Member

    Thank you everyone for all the help!

    Just started going through these coins, here are some of the better finds as of now:

    1878 CC
    1890 CC
    1893 CC
    1895 S
    At least 20 1896 which are MS60 and up

    I don’t want to classify the 1896’s as anything more than a MS60 just for my lack of knowledge at that level with the extremely small details between each grade.

    4 of the 1896’s are beautifully toned on one side
     
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  19. Bogardis

    Bogardis Active Member

    I’m going to post some! I just received theM this evening and have just started going through them!
     
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  20. Bogardis

    Bogardis Active Member

    Not interested in selling any, well, at the moment lol. I’m always willing to accept help, more eyes and more opinions are always better. I live down in Biloxi, MS
     
  21. Bogardis

    Bogardis Active Member

    Yes. 5 1896’s. Will post pics in about 15 minutes
     
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