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Bryan, Question About Morgans ?

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Kerry67's Avatar
United States
228 Posts
 Posted 06/22/2006  12:07 am Show Profile   Bookmark this topic Add Kerry67 to your friends list Get a Link to this Message Number of Subscribers
Hey Bryan,

Check out this auction. What am I missing ? Is this price correct ? Should I be buying all of these ? Why are they going for so much less than the book ? Do you trust this grading service ? Here is the ebay auction number .....

8436461483

Thanks, Kerry
Valued Member
Draknoor's Avatar
Australia
99 Posts
 Posted 06/22/2006  04:26 am  Show Profile   Bookmark this reply Add Draknoor to your friends list Get a Link to this Reply
why is it slabbed as a Peace dollar?
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Bryan1315's Avatar
United States
14454 Posts
 Posted 06/22/2006  07:09 am  Show Profile   Bookmark this reply Add Bryan1315 to your friends list Get a Link to this Reply
NGS,SGS,PNGS,National Numismatic Certification,INB,NGCC (which is very deceptive because they just added a C to NGC's name)and many others are not a real Third Party Grading Company, it is just a ebay seller slapping his inventory into cases and printing out stickers (which evidently he isn't very good at doing since he named this coin a Peace dollar) to make it look like it was actually graded by a company when he is just trying to hype his coins up. I am not good at grading (especially with scans which this looks like) but that definately doesn't look like a MS-66 to me. If I was a new collector and couldnt grade well (like I am) I would stick with either PCGS,NGC or ANACS . You can actually find some real good deals on ANACS coins if you look and then you know they were actually graded by a respectable company. All of them ebay sellers that slab their inventory into generic slabs and through a sticker on them is scum in my book because many new collectors are drug in by their deceptive practice thinking they actually are getting a great deal on a coin that is worth BIG money and then they find a forum and start to learn and theyn they start asking questions questions about their killer deal and we have to tell them they are actually paying way over what the coin is actually worth
Edited by Bryan1315
06/22/2006 07:20 am
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TLS5933's Avatar
United States
1703 Posts
 Posted 06/22/2006  07:40 am  Show Profile   Bookmark this reply Add TLS5933 to your friends list Get a Link to this Reply
I see many Morgans slabbed by third party graders on ebay,being bought at NGC,ANACS,PCGS graded prices. You would think people would catch on to whats going on when they try to resell and the coin is worth 1/10th or less of what they paid for it.
It always suprises me people will pay a very expensive price for a graded coin and not bother to check out the grading service first. In fact one of the first things I did was find this forum and ask about grading services. Its been my home ever since.
Edited by TLS5933
06/22/2006 07:41 am
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Bryan1315's Avatar
United States
14454 Posts
 Posted 06/22/2006  08:18 am  Show Profile   Bookmark this reply Add Bryan1315 to your friends list Get a Link to this Reply
I actually started buying blinded, I didnt really care for slabbed coins at first (I think mainly because I didnt understand what it was). I bought all my morgans raw and I would probably be doing the same thing today if I hadn't found that one VAM-83 on ebay one day (which was something I had never seen or really didnt know what VAM meant) and I had to have it for some reason, I won it and then I compared it to my raw morgans and I was like whoa now this thing is much better than what I have been buying. I still didnt understand the TPG stuff so I bought one PCI and one NTC coin while I was still buying blind (I didnt even know there was a place to discuss coins on the internet)and when I looked at the coins I had bought in PCGS or NGC slabs I was very disapointed in the other two, so I resold them on ebay and just started buying from them two and I still may take a chance on a raw coin every now and then but I will never spend my money on one of them other guys coins again Unless it is just a specacular coin and I really think without a doubt that it deserves the grade
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TLS5933's Avatar
United States
1703 Posts
 Posted 06/22/2006  08:44 am  Show Profile   Bookmark this reply Add TLS5933 to your friends list Get a Link to this Reply
Bryan, as you did,I started buying raw Morgans blindly also and as I gained some experience in the coin,I sold the lesser coins and bought better. When I started looking as graded coins, I started doing searches on the internet and found this forum luckly for me or I would have bought a few third graded coins also.
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SsuperDdave's Avatar
United States
23522 Posts
 Posted 06/22/2006  3:31 pm  Show Profile   Bookmark this reply Add SsuperDdave to your friends list Get a Link to this Reply
If you believe the basic fact that there are only four (or maybe five) trustworthy Third-Party Grading services out there, and that is the absolute truth, then you must ask yourself:

"If this coin is worth $16,500, why is it not in a slab from PCGS/NGC/ANACS/SEGS/PCI, and why did it only sell for $150?" The inescapable conclusion is that the coin isn't worth $16,500, and PCGS wouldn't call it MS66.

TNSTAAFL.
Edited by SsuperDdave
06/22/2006 3:31 pm
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