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 Replies: 23 / Views: 2,904 |
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Valued Member
 United States
140 Posts |
Now that kind of makes me weary. My intentions were to probably have it cross over to PCGS - same grade. It was always my understanding that NGC was a slightly tougher grader, so if that's true, wouldn't it cross over just the same?
Looking at PF66 1897 $1, it's roughly half the price. That's a lot of money.
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Pillar of the Community
United States
3755 Posts |
First, who cares if it crosses to PCGS? Their grade is no better than anyone else. If it was so blasted good then how would a service like CAC be successful? For that matter, why would anyone NEED a service like CAC? IMO leave it be.
As for the trade, I would do it in a heartbeat. That is a beautiful coin.
And there is plenty of upside. Snagging a coin like that before it gets to a high end dealer...OK, where do you have a your horseshoe implanted? I mean of course, if you happen to be walking through a field of 4 leaf clovers and find a beauty like that at a significantly lower price than value, then of course, you grab it if you can. But to say something like that could be easily aquired under other circumstances is not realistic.
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Pillar of the Community
United States
9796 Posts |
Nice Proof dollar, I doubt it would upgrade in a PCGS slab, the coin has just a touch too much haze to make 68, it will either be a 66+ or stay at 67 if PCGS grades it, IMO. Probably a no brainer for a CAC sticker. I'm guessing it went for around $8.5-10K wholesale before David Lawrence purchased it.
Edit: Just did a quick search and saw this coin was from the Heritage Signature auction in October 2011 Lot #4317 sold for $9775 including the juice. There were 6 bidders on it.
"Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013! ANA Life Member #3288 in good standing since 1981, ANS, Early American Coppers Member (EAC), Colonial Coin Collectors Club member (C4), Conder Token Collector Club member (CTCC), Civil War Token Society (CWTS) member, Liberty Seated Collectors Club (LSCC) & Numismatic Bibliomania Society member (NBS), USMex, Member in good standing, 2¢ variety collector. See my want page: http://goccf.com/t/140440Edited by westcoin
02/21/2012 05:16 am
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Pillar of the Community
United States
3540 Posts |
westcoin - exactly my point. $3275 premium because of who is selling this coin now? It DOES matter what TPG holder it is in. I doubt the coin will cross from one to the other. If you are buying a high dollar slabbed coin, it DOES matter which TPG slab it is in. As I pointed out earlier, a PR67 NGC coin does NOT bring the same money as a PCGS PR67 or PR67DC grade. |
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Pillar of the Community
United States
9796 Posts |
 A PCGS coin in the same grade will bring a better price most likely. But I don't think this one will cross over any higher. Heritage has only handled 9 Morgans in PR68 or PR69 the price will go up considerably in those grades, by multiples of 6-10 times. a coin that is PR66 will be half the price of the PR67, so essentially you are buying an opinion of a TPG on this coin. If it was me I'd get an account set up with Heritage, Stacks, etc. and wait for a major collection that has one you like, and try to buy it that way, or go through someone like Julian Leidman, he is an excellent broker at an auction, that will bid in your best interest, and keep the price down as much as possible. But to pay that much of a premium so close to when it last sold in a depressed economy? I don't know if that is such a great idea. Don't get me wrong, I really like the coin, and David Lawrence is a top notch dealer, I just hate to spend money I don't have to. "Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013! ANA Life Member #3288 in good standing since 1981, ANS, Early American Coppers Member (EAC), Colonial Coin Collectors Club member (C4), Conder Token Collector Club member (CTCC), Civil War Token Society (CWTS) member, Liberty Seated Collectors Club (LSCC) & Numismatic Bibliomania Society member (NBS), USMex, Member in good standing, 2¢ variety collector. See my want page: http://goccf.com/t/140440 |
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Bedrock of the Community
United States
10982 Posts |
Quote:
Edit: Just did a quick search and saw this coin was from the Heritage Signature auction in October 2011 Lot #4317 sold for $9775 including the juice. There were 6 bidders on it.
EDIT: That was re-holdered. My mistake. Another edit: I wonder if DLRC had this piece run through NCS to have some haze removed from the fields? The coin in the prong holder looks to have cleaner fields the the Heritage auction photos. If DLRC knocked 10% off the asking price then I think you did well. I've thought about doing something like this trade in the past but never pulled the trigger. Best of luck! Edited by BH1964
02/21/2012 11:20 pm
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Rest in Peace
United States
9104 Posts |
 , cjtm92! |
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Valued Member
United States
140 Posts |
Geez, you guys have given me a lot to think about. I have sent in the gold coins already, but I made it clear that I just want a price of what he would offer me, nothing more yet. I'm expecting him to call either today or tomorrow with a price. If I do go through with this trade, I am going to make it a condition that I have the right to return the coin if it isn't as clear as it appears on the computer. I did have one other question about the coin. If I get my hands on it, would it be wise to try to put it in a PCGS holder or should I send it to CAC to be certified? I really, really like this coin and Morgan dollars are my absolute favorite, but I would hate to buy a coin that PCGS wouldn't even grade a Proof 67 and to have this coin sell for less many years down the road when I decide to sell it. |
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Bedrock of the Community
United States
10982 Posts |
If you sent all 9 gold pieces then you more than covered what the proof Morgan should cost. I would offer them no more than 7 of the pieces and that's assuming the Saints are all MS64 or lower in grade.
If you go through with the deal, having the coin CAC stickered would be a good idea. You could ask DLRC if they already submitted it to CAC and also ask why is was re-holdered.
If it did not CAC or cross at PCGS then I would only be willing to offer 6 of your gold pieces ($10,500).
Good Luck!
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Valued Member
United States
259 Posts |
Wow! Nice Morgan! I am excited to see how this works out!
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Pillar of the Community
United States
1770 Posts |
id just keep all the coins you have I'm all about quantity though and not quality
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Pillar of the Community
United States
3276 Posts |
Quote:
There is NO upside in that proof. The upside is that it would be a dream coin for him. That's what matters. And I don't really see the need to transfer it to a PCGS holder. To me, the only reason to do that would be to resell. Seems a little pointless though if you are just going to keep it. But I don't know how to answer this, because the TPG thing rubs me the wrong way a little. Knowing that you can buy a coin for several thousand, and resubmit it to another TPG with the worry that it might grade lower and you will lose a ton of money. That's what I don't like about high grade and high dollar coins. Because in the end, grading is more or less subjective. |
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Pillar of the Community
1283 Posts |
*** Edited by Staff - Please Review the rules that you agreed to when you registered. ***
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Pillar of the Community
United States
3540 Posts |
murrellington - agree with you about the TPG. Bad. Bad for the numismatic community. The only reason they exist - because there is money to be made. My statement was very forward, but there is not reason the coin should be marked up 3K after the recent sale (if it is the same coin). Our opinion was asked.....mine given....keep shopping....there is the same or better at a lesser price. |
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Valued Member
United States
140 Posts |
Thanks everyone for all your insight. I really do like this coin, but perhaps I'm going to hold off on it and save this until I go to the FUN show one day or maybe the Willimantic Coin Show in my state and hope for something.
I rather buy/trade for a coin that I really want, than buy one and have second thoughts about it.
Again, I really appreciate everyone's help and opinion!
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Replies: 23 / Views: 2,904 |
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Posted 02/20/2012 9:44 pm
