The Official Morgan Silver Dollar Thread

Wow! Amazing coin... I'd try crossing it over to NGC, maybe they'll upgrade it to 65... and even if they don't, you'll get at least some high-res pictures.

 

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Nice one GF. That's a what $400 or so morgan off the top of my head maybe a bit more with the cac. I like her

 

Figure with the CAC, more like a $500 coin, with that level of eye appeal.

 

I can see that especially with the modest 64/65 price jump

 

Yes you could have !! Thanks again !

 

You guys all have sharper eyes for the Morgans than me. I really can't tell the difference between some of these 63's and 64's that are great for the ratings and then some of these 65's you don't like even throwing out the extra cost.

Guess I gotta keep looking at Morgans....

 

A nice common Morgan. Right now my LCS is offering to buy them in this condition at 23.57 a piece!

 

Thanks, Santini !

 

That is a bullion coin, not a collector's coin.

 

I really don't play that game, have never done it. If I had a coin that I knew was undergraded by 1 or 2 grades and might enter the stratosphere price-wise, I would probably do it.

But I really just bought this coin because I liked it initially and then when MD said to take a closer look and urged me to pounce, I did. Give him the credit -- I do !!

Just glad I got a nice coin. A few hundred bucks here or there on the upside is just icing on the cake but honestly not the reason I bought it.

Speaking of money, saw the same $20 Saint Gaudens DE sold for $2,400 on HA 6 weeks ago now being offered for $3,400 on Ebay !! Caveat Emptor !

 

An 1883-CC DMPL in MS-65....can't speak for the price, but the coin itself looks pretty good, no ? A few bag marks at 12 and 9 PM on the obverse, but it's a 65 not 67.

http://www.ebay.com/itm/1883-CC-Mor...f9708d&pid=100011&rk=1&rkt=10&sd=381542001340

The pictures are that no-reflection, painting-look so you can't really see the mirrors and reflections.

 

Very nice coin. Very much an eye appeal. I would say it is the same grade as the one you bought, frankly. That one is a sky high 64 (although I agree it would probably cross as a 65--that is why I said it was a $1000 coin, although I would NOT cross it, as it is valuable and beautiful just the way it is). My one hesitation on CC DMPLS is that they are so pricey now--way inflated in price. Consider that the population is TWICE that of the one you already bought, and that should tell you that the survival rate of cc DMPLs is way out of line, price wise . It has to do with the popularity of CC dollars in the first place. None of my 13 CC dollars are DMPLs, or PLs, and they are garden variety ones---the 1882-1884 ones are so common that they are as plentiful as the really common date ones. Except for the 1889cc and 1893cc, there aren't real rarities among those dates---some better dates, but no rarities. Go for DMPLs of other dates first, IMHO--they are better values, if less glamorous in overall idea. I think it it the love affair with the Wild West, and Carson City, as population reports don't justify price on them.

 

MD, definitely a love affair with Carson City. Just the name invokes the Old West. Must be alot of old Bonanza fans who are coin collectors today.

 

@GoldFinger1969, nice DPL Hoss (Bonanza take)!

Definitely a very nice 64 DPL. Let us know your first thoughts upon opening the package!

 

MD, agree completely with what you are saying. I think when you say that CCs (esp. DMPLs) are 'overpriced' we have to recognize that as JPC and I have stated and you acknowledge...if people want Carson City's because of the Old West link, they're gonna want them and that's going to be an artificial demand booster for the coin(s). Net-Net....the price is going to appear 'rich' relative to non-CCs of the same grade, type, date, etc.

Similar to the 1907 Saint HR....it's NOT a rare coin, I think there are 11,000 or more. And there are plenty in Mint State. But everyone wants one because it's probably the finest coin ever produced in the United States (except maybe the 1907 EXR which is really a pattern not a regular release). As a result, it'a coin costing 5-figures unless you drop into the AUs.

Would be fascinating if there were a database comparing CCs vs. Non-CCs for year, grade, type, etc. going back years. Then we could see if the premium was normal, rich, or cheap. I do this with financial assets where I realize that if you have 2 asset types and theoretically they are the same but are priced differently for whatever reasons (i.e., AAA-rated corporate debt is always priced high because of the lack of AAA-rated U.S. companies).

 

I can't say unequivocally whether CC DPL's are "too pricey". I just know that of all the mints, the CC seems to be the most sought after. As for DPL's, when you find a nice one in any date/mm, it's worth adding to your collection. So you add the CC + DPL and I think you have demand that outstrips the supply. That's why I believe they do carry a premium in today's market.

 

I agree with you that it is far from unequivocal. The stats tend to support that the cc DMPLs tend to be far pricier than equivalently graded coins from, let's say New Orleans, or Philadelphia. San Francisco is a special case, as DMPLs are either very common ( early 1879s, 1880s, 1881s 1882s) or extremely hard to find ( 1886s 1887s 1888s 1889s). If I were to post a PCGS pop chart and value in let's say MS 65, you would see the population of the cc DMPL and PL coins are just not that rare, compared to some of the O mint ones of the same date. I do think it is perception, rather than reality---people look at the 1,133,000 mintage of the 1882cc and think it is uncommon, in comparison to other dates that have, say 8-10 million mintages. However, with the GSA horde, over 50% survival rate is the rule. Can't say for sure what the survival rate of the others is--it is estimated fairly accurately, but just estimated. Remember, that 1902 o and 1904 o were considered rare, until a bank horde revealed scads of them. It is all relative to perception and demand. I do agree with you that any nice DMPL, and any affordable CC DMPL is a good coin to grab up.

 

MD, wouldn't you expect ANY coins from CC to trade at a premium to similarly graded/years from other Mints, assuming the latter were not condition rarities or produced in extremely smaller volumes ?

IOTW....similar availability, DMPL or non-DMPL, the CC is going to trade at a premium (I think this is certainly the case with GSAs, no) ?

Right, so same population size vs. San Fran for the former years, and the CC's are gonna trade at a premium. But the extremely hard to find years will dominate the Carson City pedigree for the years you cited.

I think by this time, you won't be seeing any more 'hoards' unless it is one hidden like the Saddle Ridge coins. But almost certainly not in banks, unless it's some tiny bank with 1960's technology in a rural part of the U.S. or in Europe or South/Central America.

Most of those banks, however, went through previous Baptisms Of Fire so if they had any MSDs or Saints of value, they almost certainly cleared them out by now.

 

I agree that the CC mint coins are far from scarce in these dates: '78, '80-'85 and '91cc. With the sheer volume of Morgan collectors and than those who want to add one to their collection, the CC dates just seem to be the most popular.

I just looked through my Morgan list and I have a DPL from Philly, San Fran, Carson City and New Orleans. I doubt I'll ever be able to add one from Denver....lol. Based on the typically satin finish from P and O, I think coins from these 2 mints are likely the hardest to find in DPL. I haven't reviewed the pop reports, it's just my suspicion based on their typical surface.

 

MD, JPC...just curious....do you think the price being asked for that 1883-CC DMPL MS65 is fair ?

Other asking prices and completed Ebay auctions for that type of coin seem in-line.....some 65+ GSAs went for over $3,000 !!