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Pillar of the Community
United States
9794 Posts |
 with a grade of MS64 on this Morgan. "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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Pillar of the Community
 968 Posts |
Thank you very much, gentlemen. Do any of you have any opinions as to a fair price? The seller was asking $500, but after some discussion, said he would take $400. Is that an overpayment? Much obliged.
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Rest in Peace
United States
10625 Posts |
Edited by dave700x
02/21/2014 12:43 pm
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Pillar of the Community
968 Posts |
Thanks for the link Dave, but you will note that coin is not a Redfield, just a Paramount holdered coin. It is not graded. He said that if he sends it to NGC for grading, he will keep it for his personal collection.
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Rest in Peace
United States
10625 Posts |
Yeah, You're right. I did a search of "Redfield" in the sold category and came up with this "Redfield era" Morgan. Truth is, if the label doesn't say Redfield, it's likely not.
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Pillar of the Community
United States
2797 Posts |
$400 is WAY too much. PCGS, NGC, and ANACS MS64 78-S coins are selling between $110 and $145. He is adding a premium for the paramount holder and toning. I wouldn't pay over $150. But I don't put a premium on that holder or the toning.
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Pillar of the Community
968 Posts |
Don't most Redfield coins hold about a $200 premium when they are in the original holder? I was thinking if $150 is a fair price for the coin, then $50 for toning, and $200 for the Redfield pedigree, $400 is right on.
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Rest in Peace
United States
10625 Posts |
It all comes down to what you're willing to pay actually, as there is no price guide for Redfield Morgans in original Paramount holders. It's all driven by people like you who simply want one and will pay for it. I'm the same way with desirable (to me) VAM's. To me they're worth more than a VAM1 and I'll usually pay a little more than FMV for that date/ mm. |
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Pillar of the Community
968 Posts |
After a phone conversation with the seller, I agreed to buy this for $375 today, without ebay taking their cut. I am very happy, hopefully it is as nice in hand. |
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Bedrock of the Community
Canada
11922 Posts |
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Valued Member
Australia
134 Posts |
As long as you are happy with it that is the main thing.
I prefer mine not to have black muck building up, the bit not covered in crud looks lovely.
But I wouldn't pay a premium just because it came from a particular hoard either.
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Moderator
 United States
23522 Posts |
Color me "cautiously optimistic," but you're placing a *lot* of faith in the ongoing value of the Redfield holder. The black holder is known to contain the lower grades encapsulated - not qualifying for MS-65 (red holders) - but this one is pretty good for the designation, probably MS-64 in-hand and I'll bet the toning would really pop under axial lighting. The Redfield Hoard had a large and widespread effect on Morgan dollar collecting. It was huge - 22,000lbs of coins - and significantly affected the availability of certain dates. The Paramount holder itself was definitive, duplicated in the size of holder chosen by both PCGS and NGC. Despite the huge numbers, though, an original Paramount holder coin carries a significance to the astute Morgan collector. So many have been cracked over the years that even a date as common as 1878-S will carry a pretty substantial premium to a certain subset of Morgan fans. So, even though this was purchased at MS65PL money, I don't think it was poorly-bought. Just niche-directed. |
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Pillar of the Community
United States
9794 Posts |
No way would I pay much for a red field holdered coin, I have owned quite a few and never paid more than a few dollars over a regular one, in a Paramount holder I couldn't justify more than $20.00 over a published price, anything more, to me is outrageous. I'd say value on a Redfield holdered coin like this should be no more than $150.00 tops, to me. Seeing that one on ebay for $200.00 is nuts! Don't mean to say the OP is nuts but if I'm paying $375.00 I'd want two of them at least. Just way, way too much $$$ for a coin like this IMO. EDIT: In hindsight the toning is really quite nice on this coin so paying over $200 isn't really a big stretch, the cost will come back when the silver market invariably climbs again. At $375 though I think you'll be sitting on this one for awhile before you see a profit on it. I have made way worse purchases in my past however, and lost more than $1K on a coin or two.  "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
02/25/2014 12:53 pm
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Pillar of the Community
968 Posts |
*** Edited by Staff - Please Review the rules that you agreed to when you registered. ***
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Bedrock of the Community
United States
36845 Posts |
MS-63 and seems overpriced.
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Replies: 18 / Views: 2,907 |
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First Page
Posted 02/21/2014 12:33 pm
