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 Replies: 21 / Views: 2,395 |
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Valued Member
 United States
78 Posts |
Thanks for the advice I will do my homework first :)
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Valued Member
United States
78 Posts |
However there is one question I am still curious about. Did the US Mint sell the morgans already graded when they released the surplus coins? There is some label on the plastic bag that the Encased Coin comes in that has the MS-63 already on it. Doesn't look like any professional grading company. |
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Pillar of the Community
United States
1388 Posts |
They were not graded at the time in the GSA holders... However some coin services do grade them in the GSA holders, usually marked by a holographic sticker that seals the case... Be careful on what company graded it as well...
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Pillar of the Community
United States
2596 Posts |
I think NGC grades them but I'm not sure, and if its not NGC,PCGS, or ANACS make sure that you look at the coin good and try to determine yourself what grade its in and maybe talk with the dealer so you guys can agree on a grade. If its MS63 then there shouldnt be too many contact marks.
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Valued Member
United States
78 Posts |
Well this coin is in its original case, however there is a separate zip lock bag that holds the case in it with a normal looking bar code label that states what the item is and says MS-63. I have seen the PCGS and NGC labels but this label just looks like something you would find on an item in a grocery store.
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Valued Member
United States
78 Posts |
The high points on the coin are scratched to the point where the underlying silver is brighter than the top and there are small bag marks covering the coin.
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Pillar of the Community
United States
2596 Posts |
without seeing the coin I couldnt determine a grade but here is the differences between 60-63...MS63 will have attractive mint luster, but noticeable detracting contact marks or minor blemishes. MS60 is an uncirculated coin with no trace of wear but with bag marks or abrasions more obvious then ms63 like rim mars, and weak spots. So look around online for coins that are graded MS63 by PCGS or NGC and see how they compare to the coin you are thinking about buying and that should give some idea what a ms63 coin should look like. I know photos are a little different then looking at the coin in hand but at least you will get a reference point to start with.
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Pillar of the Community
United States
1150 Posts |
If the coin is graded by NGC, then I think $200 to $220 is about right in a GSA holder missing the cert. of auth., maybe a little more with box and cert.
If not graded by NGC, then anywhere from $180 to $200 is the price range I've seen them going for.
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Pillar of the Community
United States
5854 Posts |
It sounds like it may be in a GSA holder with a band indicating that it has been graded. NGC has been doing this for a few years, I think and ANACS just started doing it so my bet would be probably be graded by NGC. I might be wrong but I think they were only sold as being uncirculated. A price around $180-190 would be a fair price for that coin if not graded. Given that it is probably add a little bit more for it.
Edited by D0ubl3Eagle
10/25/2011 9:12 pm
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Pillar of the Community
United States
968 Posts |
Unless you are very confident in your grading in the MS range, or that coin has been graded by a reputable TPG, I would not pay MS-63 prices for it. If it actually graded lower than that you would have ended up overpaying by a fair bit. |
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Valued Member
United States
78 Posts |
That's what I am hoping to avoid. I am 99.9% sure that the label with the grade on it is not from a reputable grading service. Seeing as no logos or names of the companies were mentioned on it. I will try and slide by the store tomorrow and get a picture of the coin if possible and post it.
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Pillar of the Community
United States
2596 Posts |
I think you should check out teletrade there you can buy coins already graded for the same price of raw coins. This past summer I averaged in the mid $40's for (ANACS,NGC,PCGS)AU55-MS62 morgans. Tonight I just bought a "1855 NGC XF details"Large cent for $31 and all these coins are already graded so it saves you money in the long run. I personally would recommend Teletrade and Heritage.
Edited by jessvc1
10/26/2011 12:09 am
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Pillar of the Community
United States
3076 Posts |
One must also realize you can buy the certification papers on ebay all day long,, if your smart enough to research what the numbers are for the given years of GSA coins..one would realize many broke them out of the box to have them NGC or PCGS certified back in the day for grading purposes only..before the collector's who wanted all the documentaion...GSA coins were held in the vaults..SO this means they are definitly "uncirculated" So the question still relates in the end to the coins true condition of grade, when one can purchase the box and papers on ebay...its the condition that is most important...IF it was in Granny's bread basket for a century or in the vault..the condition is the determining factor..though some may disagree...She loved to make BANANA Bread  |
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Valued Member
United States
78 Posts |
This is disappointing, apparently my local coin shop owner believes that the lowest he could go would be about $230 for this MS-63 and refused to pass the offer on to the owner that put the coin on consignment when I made an offer of about $160 for it. I guess I will try teletrade then.
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Pillar of the Community
United States
5854 Posts |
For $230, I would have passed. These are common enough that you should not have too much trouble acquiring one.
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Replies: 21 / Views: 2,395 |
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Posted 10/25/2011 7:53 pm
