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Was this a good deal?

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Valued Member
United States
86 Posts
 Posted 03/12/2012  4:56 pm Show Profile Bookmark this topic Add chefhemi13 to your friends list Get a Link to this Message

I recently bought a 1890 Morgan dollar graded at MS66 by PCGA for 52.00

I am not sure if it is for sure that grade but either way seemed like a pretty good deal.

Here is the picture that the seller had shown, I have not yet received the coin to inspect on my own.




What would you assume is the true grade? I know PCGA is known to not always be accurate.

Was 52.00 too much? or a good deal?

Pillar of the Community
United States
4252 Posts
 Posted 03/12/2012  5:01 pm  Show Profile Bookmark this reply Add TheNickelGuy to your friends list Get a Link to this Reply
I don't think that is a PCGS holder? Pics are not grade-able so no way can I guess on that either.
Late edit:
Quote:
I've never heard of PCGA. PCGS ..sure but not PCGA ...PCGA sounds like a do it yourself basement slabber trying to put on over on novice coin buyers.

Oooops I thought I read PCGS, I don't recognize PCGA either.
Edited by TheNickelGuy
03/12/2012 5:06 pm
Valued Member
United States
453 Posts
 Posted 03/12/2012  5:02 pm  Show Profile Bookmark this reply Add Andrew289 to your friends list Get a Link to this Reply
To much in my opinion. I've never heard of PCGA. PCGS ..sure but not PCGA ...PCGA sounds like a do it yourself basement slabber trying to put on over on novice coin buyers.
Pillar of the Community
Canada
1727 Posts
 Posted 03/12/2012  5:05 pm  Show Profile Bookmark this reply Add coincollect1 to your friends list Get a Link to this Reply
Well, its not an MS-66. An MS-65 has a book value of $2700. It looks to be atleast MS-60 maybe higher. Im thinking you paid alittle too much, but still a nice coin
Valued Member
United States
86 Posts
 Posted 03/12/2012  5:11 pm  Show Profile Bookmark this reply Add chefhemi13 to your friends list Get a Link to this Reply
I know its most likely not a MS-66, but I was thinking maybe an MS-63?
Pillar of the Community
United States
1392 Posts
 Posted 03/12/2012  5:18 pm  Show Profile Bookmark this reply Add SteveCaruso to your friends list Get a Link to this Reply
Could we have larger pics of both the obverse and reverse?
-Steve (GSNA R-2306)
The Black Cabinet
A Database of Counterfeit Coins.
Counterfeit identification and attribution services.
Valued Member
United States
86 Posts
 Posted 03/12/2012  5:24 pm  Show Profile Bookmark this reply Add chefhemi13 to your friends list Get a Link to this Reply
Once I receive it in the mail yes! I was feeling a little antsy after I bought it and thought I would ask you guys about it.

I will take my own pictures once I receive it. Thanks!
Bedrock of the Community
United States
10791 Posts
 Posted 03/12/2012  7:43 pm  Show Profile Bookmark this reply Add John1 to your friends list Get a Link to this Reply
That is for sure not a PCGS holder and for sure not MS66. If it grades MS60 you'll be lucky.
John1
( I'm no pro, it's just my humble opinion )
Moderator
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United States
14452 Posts
 Posted 03/12/2012  9:29 pm  Show Profile Bookmark this reply Add Bryan1315 to your friends list Get a Link to this Reply
when you get it check to make sure the luster is complete and not broken because I am suspecting it may be an AU coin. Once we get better pictures we can answer better on what grade we think it should be because we know its not a MS-66
Valued Member
United States
132 Posts
 Posted 03/12/2012  9:38 pm  Show Profile Bookmark this reply Add TonedMo87 to your friends list Get a Link to this Reply
Was this the only picture the seller used? If so, the lack of pictures seems suspect. The price alone is a red flag, but if I'm really buying an MS-66, I'm expecting lots of clear, high resolution pics. Hope it still turns out nice!
Valued Member
United States
86 Posts
 Posted 03/12/2012  10:55 pm  Show Profile Bookmark this reply Add chefhemi13 to your friends list Get a Link to this Reply
I don't think the owner knew much about the coin itself because she sold it under "no reserve". Once I get it in my possession I am going to have it reappraised and graded, so I know its true grade! I'm hoping it's at lease an MS-63 so I made a good deal, but I guess I'll find out. Thanks for the input! I'll make sure to post pictures when I receive it and let you know once I get it re-graded.
Valued Member
United States
358 Posts
 Posted 03/12/2012  11:08 pm  Show Profile Bookmark this reply Add numismaniac to your friends list Get a Link to this Reply
Personally, I would stay away from any seller offering these "no name" slabs. I hate to sound negative but I doubt the coin is UNC. Even if it is AU you didn't do too bad. Overpaid a bit but this could be a good, inexpensive lesson. I am eager to see the pics you post. PLEASE beware of these types of slabs in the future. Many shady sellers put cleaned coins in them and list them in high MS condition. As far as the seller having no reserve, it is a win-win situation for them. They can always fall back on the thought that the buyer paid what he/she wanted to. Please don't mistake this for criticism. I am just giving my honest opinion. I sure wish there was a place like this I could have come to when I first started collecting. I could have saved myself a lot of money.
Valued Member
United States
86 Posts
 Posted 03/12/2012  11:18 pm  Show Profile Bookmark this reply Add chefhemi13 to your friends list Get a Link to this Reply
Thank you for being honest! I greatly appreciate your advice, because I am an amature coin collector and any advice is definitely appreciated. If I did make a mistake, it's a lesson learned! A cheap one at that too!

Thanks alot! :)
Pillar of the Community
United States
1934 Posts
 Posted 03/13/2012  08:31 am  Show Profile Bookmark this reply Add j_h_s to your friends list Get a Link to this Reply
I'm in complete agreement with numismaniac.

melt is $25
AU, maybe $40.

The weirdness of the luster (possibly even wear) on the face keeps it low MS, probably(?) AU.

I dont like being construed as (too) cynical; the minute I saw, "PCGA" I thought cynical thingamabobs

:)




Valued Member
United States
453 Posts
 Posted 03/13/2012  11:28 am  Show Profile Bookmark this reply Add Andrew289 to your friends list Get a Link to this Reply
The first mistake you made is to not know what you were buying. The first thing you need to do is learn how to grade. Don't relay on a label, they are most likely wrong and misleading if not from a legit grading company PCGA? not legit.
Knowledge is power and you went into this purchase powerless. Learn to determine the grade yourself before you unwisely spend your money. It's for your own protection. There are many unscrupulous sellers out there looking to take advantage of new collectors and then go online after they scalped you and joke about how they swindled some noob.

Learn the series you want to buy and take responsibility for your purchase before you buy them.

I cringe every time I see one of these "How did I do" posts because it means that the buyer had no idea what he bought or how much he should have paid for it. It's an expensive way to collect overpriced coins.
But some just won't listen.
Edited by Andrew289
03/13/2012 11:31 am
Pillar of the Community
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United States
3551 Posts
 Posted 03/13/2012  12:07 pm  Show Profile Bookmark this reply Add dave700x to your friends list Get a Link to this Reply
I'm sure everyone who belongs to CCF has at least one coin form their early years that was over-graded and they overpaid for it. I personally have more than one. The bright side has already been posted. You may have overpaid by $10 or $12 is all. Welcome to the club!
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