I have an 1880 S Morgan 1D NES MS67 Morgan Dollar I purchased. My local coin shop won't recognize the NES grading and will only give me $12.00 for it even after it has been graded and in the plastic case. Does anyone know where I can get a better value other than E-Bay?
NES isn't a reputable service, so I wouldn't trust the grade they gave it. The value of the coin really depends on the condition, so if you can post pics.
NES is a grading company I have not heard of before. Hopefully, your local shop is not lowballing you, or hopefully NES did not overgrade your Morgan. It might be possible that your coin was graded properly and your local shop only offered you a low offer because they do not have buyers for that coin. Try posting some pictures of it here, there are lots of sharp eyes, (not me) that could tell you what grade it might actually be.
That is a little harsh in my opinion, but NES has a "reputation". Do a google search and when you go to their website, they show one of their coins, they have graded MS67 and it is nowhere near that in my opinion. They do offer pregraded coins in slabs, but only for certain ebay sellers. You have to consider the coin as RAW, no slab, no grade, before a price could be determined by someone considering buying it. Most consider it one of many grading companies setup to overgrade for their customers to over-price on Ebay and other auctions. It is possible it is not even MS. There are some guides on ebay that mention NES and others to avoid or at least be very suspicious with the grade. Post a photo and the forum can give a more marketable grade. Welcome to the forum, what you learn here hopefully will offset the coin:smile Jim
Just to give you and idea, this is what an MS67 Morgan Dollar looks like. Does your coin look as clean as the one in the photo above or does it have surface marks?
Regardless of grade, the dealer allegedly only offered 15% under bid on silver content and 20% under bid for wholesale transactions. Even if the coin is not MS, I am sure it is not in G4 either. Even if the coin were AU/XF, 80% under wholesale bid for raw coins would still place it at near $15. Even if you do not recognize the certification service and treat it as raw, I do not see how one could see this offer as fair at all for the coin. I honestly feel that this dealer may simply be trying to take advantage of this individual, seeing as the person is obviously new to numismatics and does not have a grasp on the value of the coin to make a determination. Whether you are taking advantage of someone through a bogus service or as a dealer low-balling the uneducated, it is still wrong, and $12 for a Morgan Dollar in today's market is definitely low-balling.
Well, my best guess is that it's probably either AU or cleaned. Just post a good picture, and the debate ends pretty quickly.
I don't know if I completely agree with you. Assuming this coin is problem free and in decent shape (AU or better) it is a little low. However, often times coins that end up in these lower tier slabs have been cleaned or are in some other way damaged. If this coin is damaged...it is only worth melt because it is a very common date. Currently, the melt value of a Morgan Dollar is $14.17. Dealers won't pay spot prices for "junk silver" which is all this is if it's a problem coin. You will get a percent of spot and honestly...$12 sounds pretty good to me.
Wow I never knew there were so many third party graders, I just googled NES, I guess that's why I stick to NGC & PCGS. Makes it easier.
