What's the right price for a 1885-CC

Discussion in 'US Coins Forum' started by jrs146, Oct 11, 2016.

  1. jrs146

    jrs146 Active Member

    Hi All,
    I've been looking at various publications and auction results to try and determine the right price for an 1885-CC MS65.

    What do you think is the right "buy" price?


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  3. BooksB4Coins

    BooksB4Coins Newbieus Sempiterna

    MS65 according to....?

    Beyond this, there simply is no set in stone blind buying price for the average collector, and even if there was it would be wise not to place much weight into it. That said though, you may want to search the Heritage archives for recent sold prices on comparable examples (not just same grade and holder). This should at least give a fair and somewhat reasonable range. Still, I would suggest focusing on the coin itself and not the holder/number when/if deciding to buy. Two coins of the same holdered grade are not automatically absolute equals.
     
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  4. jrs146

    jrs146 Active Member

    Thanks for the response. Because I'm fairly new to collecting I'm sticking to NGC & PCGS slabbed coins. I've been looking at Heritage archives to try and get a good idea. It seems that they are selling higher on eBay which is where I've been buying primarily.


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  5. BooksB4Coins

    BooksB4Coins Newbieus Sempiterna

    And there's good reason why you're generally finding eBay to be higher. Many sellers and dealers use Heritage (and the like) as a means of acquiring inventory. It's fairly common, if you follow their auctions, to see the same coins of all types appear on eBay shortly after, including some originally in problem holders "magically" freed from them. I'm sure you see where I'm going with this...

    Being new you need to be VERY careful, even when sticking to only the top two TPGs. While this may decease your chances of a genuinely bad buy, do understand that there are plenty of dogs residing in said holders. Such coins are sometimes referred to as "hot potatoes", and as the name implies, they go from dealer to auction house to buyer to seller, back and forth until some unwitting collector ends up with it, often at a slight but apparent "deal" price yet still more than the coin is or should actually be worth. My point is that there are no easy substitutes for learning short of finding and paying a genuinely knowledgable are trustworthy dealer, which is something often easier said than done for new and unfamiliar collectors. I realize that, especially for the new, buying can offer a great thrill, but do yourself an immense favor and take it slow while learning for yourself. Also, keep in mind new collectors will almost certainly end up having a change in interests, so those who spend heavily early on are doing themselves even more of a disservice as all too often they're left holding the bag and taking excessive hits when wishing to sell. It's a lot to digest, I know, but please do take to heart and give it some thought.

    As for your original question, I'd still suggest using Heritage as a price range, and then, if you still want to use eBay, try and find a happy medium. Or better yet, wait, join, and bid yourself the next time something comes up that catches your eyes. Best of luck to you, sir.
     
  6. Markus1959

    Markus1959 Well-Known Member

    What your wife lets you spend!!
     
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  7. jrs146

    jrs146 Active Member

    Lol maybe the best answer anyone could give!


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  8. jrs146

    jrs146 Active Member

    Thank you for the advice. Much appreciated. There is a specific coin I'm looking at. To me it looks very very nice. Just maybe a bit overpriced.
    [​IMG]
    [​IMG]


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  9. Santinidollar

    Santinidollar Supporter! Supporter

    That's one of the Morgans I've been looking at. If there is a "bargain" out there for that one, I certainly haven't found it.
     
  10. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    I sold my 1885-CC PCGS MS65 VAM-4 Doubled Dash on eBay a couple of years ago for $1250.

    Chris
     
  11. Paul M.

    Paul M. Well-Known Member

    There are a lot of variables at play here. Just a few are: CAC sticker or no? PL, DMPL, or no? GSA or no? Any interesting VAM? Is it a + or * grade? (And, if you don't know what any of those are, you should learn before buying an 1885-CC Morgan in MS65!)

    In this case, the coin looks nice, but I suspect it doesn't have a CAC sticker, and it definitely isn't PL or DMPL. I'll assume the VAM is not premium-worthy, and it doesn't look like a + grade to me. It seems to be a PCGS holder, which rules out both GSA and * grades.

    So, we're looking at a generic MS65 1885-CC.

    If you go here, you see the coin seems to trade frequently, since there are 67 sales in the past year. That means you can afford to wait for a nice one. Ignoring GSA coins, prices range from $1528 (for what looks like a possibly undergraded NGC coin) down to $881. The lowest priced one I was able to click through to and see a picture of was $940, for a really low end, ugly coin (but, hey, it says MS65 on the label!).

    I would say that for a solid MS65, you're probably into $1250-$1300 at least. You can easily pay more for a better coin.

    My actual advice is to not buy this coin, unless you light your cigars with $100 bills. A $1000 mistake is kind of a big deal for a lot of people. Look at more coins (go to show, shops, browse internet auctions, etc), and aim for a $100 coin instead of a $1000 coin. Use some of the money you didn't spend to buy a few books. You'll be better off in the end. :)
     
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  12. Santinidollar

    Santinidollar Supporter! Supporter

    Since you're fairly new to the game, let me pass on a piece of advice that I picked up here. If you see a coin you like on eBay, see if the seller has his own website. The price on the dealer's site will often be less since he won't have to pay eBay fees.

    Tonight I saw an old commemorative half I liked on eBay for $320, firm price. On the dealer's own site, it's listed at $295.

    Those types of savings will add up quickly!
     
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  13. Paul M.

    Paul M. Well-Known Member

    I find that a 10-15% discount is typical. Yes, it does add up quickly!
     
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  14. BooksB4Coins

    BooksB4Coins Newbieus Sempiterna

    With the understanding that someone may jump and address this before you respond and I have a chance to back, please let me ask you this: is there anything about this coin that you personally find less than ideal, unattractive, or even (to you) questionable, etc, etc? This example displays a certain "something" that, while acceptable, also detracts (or should I say can detract) from its overall appeal, and is something some collectors prefer to avoid. It's not a bad coin, and again there's nothing "wrong" with it, but overall I couldn't, in good conscience, recommend paying up for it. Others may feel differently, but it's not an inexpensive coin, especially for one new to the hobby, and it's my long-held belief that one should err on the side of caution.

    Whenever buying a coin, do try to remember that quality will sell itself while average must either be cheap or wait for the right buyer. With many dealers, their best material never makes to a public offering for this simple fact. If willing to pay up, you're most certainly going to be better off doing so for something genuinely special, and truth be told, you're also likely to enjoy it more as well. It will also increase your chances of recouping the most money (percentage of price paid) when or if you choose to sell, and can be a win-win all around.
     
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  15. SuperDave

    SuperDave Free the Cartwheels!

    If they're cheaper at Heritage than Ebay, perhaps you should be shopping at Heritage. :)

    Paul M. said everything exactly as I was going to post, so I won't repeat it. Note his link to the PCGS Auction Results site - their archive includes all of Heritage's archive as a subset, along with other auction houses and some Ebay results. What Heritage is for sheer volume, the PCGS site is far more. Heritage has more granular Search capability, more data on each coin and those immense images, but the PCGS site has the larger database of results.

    I'd call the one you're looking at nice, but not extraordinary, at the grade. Keep in mind that PCGS and NGC between them show almost 6,000 1885-CC's in MS65. Yes, quite a few of those were probably crackouts, but the fact that PCGS shows 72 of them having come to auction in calendar 2016 alone should indicate that you won't have a hard time finding another if you decide against this one.
     
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  16. Santinidollar

    Santinidollar Supporter! Supporter

    If you are going to pay four figures for a coin, my suggestion is to like everything about it.

    Frankly I'm not inclined to cut a coin much slack no matter what I'm paying for it. That's because A. I'm a Scrooge and B. A little patience almost always turns up a better coin.
     
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  17. jrs146

    jrs146 Active Member


    Humm, honestly I'm not sure. I've been trying hard to educate myself as much as possible. I'm purchased more books than coins, both books on Morgan's and coin grading. But of course, this hobby is more about experience and that simply takes time. That's why I'm so happy to have a forum like this and run things by the experts. What specifically are you seeing that detracts you from the coin?


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  18. jrs146

    jrs146 Active Member

    One other coin I've been looking at is a non-graded GSA. Any thoughts on this one?

    [​IMG]
    [​IMG][​IMG]


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  19. Paul M.

    Paul M. Well-Known Member

    Truth be told, the only thing I don't like about PCGS's site is that you can't filter out GSA or attributed varieties. But, if you're just looking for a range, that's not much of a problem. You do have to watch out for coins included in lots that are more than one coin, and, sometimes, the odd "monster toner" will throw things off, but clicking through the top couple results will get you that top end price pretty quickly.

    Yes. I would gladly pay the $1528 for the top end MS65 coin if I were in the market for it.
     
  20. Paul M.

    Paul M. Well-Known Member

    I can tell you that's no MS65.
     
  21. jrs146

    jrs146 Active Member


    A MS65 auction ended tonight on HA for about $1,100. It seemed to be a nice PCGS graded coin. Nothing special but a good representation.




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