What's It Worth?

Had this one for a while. Just wondering some opinions on pricing and if it would be best to send it to NGC or just sell it raw. IMO I think it's pretty cool to still have the original box from the bank as far as collectable appeal. Thought and opinions?

 

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Looks AT.

 

Aww jeez here we go... I'm not a professional and I'm not going to argue. However, I will point out that it states right in the package it had never been removed from the mint bag until it was placed in that holder. I assume it continued to tone from exposure to sulfur in the bag, but I could be wrong. I guess it depends what your definition of AT would be, but I consider it to be the same as album toning at minimum. Again, not trying to argue but better insight from where you draw that conclusion would maybe help me understand how it is artificial.

 

I believe the toning is NT. I've had a few graded by NGC that look very similar, one of which is shown below. This 1896 MS64 sold for $100 a couple of years ago. I don't think yours would grade MS64, so it may not be worth submitting for grading. Whether or not the bank COA & box would attract more bidders is anybody's guess.

Chris

 

It'd be interesting to have a bag of New Orleans Morgans shipped to Oregon in 1883. Seems like a lot of hassle when San Francisco is basically right there.
Just saying I may not trust the story on the cardboard.

 

Thank you Chris. I wonder if the 1896 would be around the same value as the 1883 O when it comes to toning? That was a nice coin I just see the 1896 with rainbows more often is what I mean.

Lou, I believe by stating "until now, this 100 year old...", they're implying it was 1983 when Oregon Savings offered them out to new customers. I wouldn't assume it was a huge deal for incentives to offer an 1883 $1 IN 1883 when I would assume they were common and not held in bags besides for transport.

 

I believe Oregon Trail Savings was referring to the 1960's releases by the Treasury Department. Most of the Morgan dollars from New Orleans, San Francisco and Carson City were never released into circulation and were eventually shipped back east.

Chris

 

The story I got upon purchase was that back in the 80's the banks offered them out to new customers just like today when they give you a $100 incentive to open checking account. I believe that is where this came from from not only the sales pitch, but the paragraph written above the Dollar as well.

 

The numismatic value of the 1883-O and the 1896 are about the same in comparable grades. When it comes to toning, it depends on how many people want it. A few years ago, I missed out on a beautiful 1883-CC (NGC MS65) toner that sold for $1250. Less than two weeks later, I won another 1883-CC (NGC MS65) with nearly identical toning for $511. Go figure!

Chris

 

Gotcha, that makes sense.

 

Wow talk about some good luck! I occasionally bid on some random coins and luck out when nobody's watching but never any Toned Gem CC's. Keep wishing though right

 

I get what you're saying about the price comparison, I just find it harder to come by the 1883 than the 1896 as far as deep toning goes. I actually just landed a 1896 with deep blue, pink, and green toning covering the reverse for $40. Conservatively graded at MS60 in an original ANACS holder. That reminds me it's about due for a crack out lol

 

It probably happens more than you think!

My advice? Any time you lose to a higher bidder for a "Gem Anything" put it on your search list IMMEDIATELY! It's always possible that another seller (for the same coin) was watching and decided to jump on the bandwagon after seeing the results.

Chris

 

I had quite a few '83-O toners, but I've sold nearly all of my Morgans. The 1896 just happened to be the last one for which I kept sales info and photos.

Chris

 

Ya that makes perfect sense I've jumped on board myself for that reason but never think to reverse it and look for the next sellers right away. Thanks for the tip it apparently works for that deal to have happened. Also, I guess since value fluctuates so much from buyer to buyer on toners, my new question is would it benefit the sale to have it slabbed just for the sake of argument and questionable value over AT/NT or is it obvious to most?

 

I can't answer that! All of my Morgans were certified (NGC, PCGS & old ANACS) so I can't compare them to raw coins.

Chris

 

OK lol no problem. I guess I meant my new question was to gather opinions on it being worth being slabbed to avoid the "looks like AT" guys or if it was better to keep it in its box as a collection piece. You answered the question on knowledge vs opinion and I appreciate it. I guess like you said, it's anybody's guess to who will pay for what as far as the holder it is in. Thanks.

 

looks NT. price is subjective. depends on who likes that type of toning and grade of course. it obviously has some wear on it.

 

Ya it looks worn around the rim and hair above the ear but I compared it to some other MS62-63's and it seems typical for the date. It still has full luster apart from the hairlines in the fields. I was trying harder to capture the toning opposed to the strike. I know it's certainly not high grade but in hand it seems to be uncirculated.

 

With all due respect, from the provided photos, and only from the photos (perhaps this would change with better representations) I find the coin to be rather unattractive overall and don't see it as one worthy of a substantial percentage premium. This, coupled with the date/mint and overall condition, suggests to me that unless you simply want it slabbed, or can piggyback it in at a very modest cost, you may be better off leaving as it is. JMO.