Morgan Dollars New York Bank Hoard

According to this pop report, the majority of New York Bank Hoard coins graded 63 or 64, and none graded 61 or 62. Did they just put the grades on labels if they were 64 or higher, and call the 63's BU?

https://coinweek.com/us-coins/coinw...ollar-hoard/

They did but the submitter chose to have the BU listed instead of trying to sell 62s. They had a minimum grade for numerical grades and the ones that didn't reach the threshold got the BU slabs

I've seen ones like that, that were labeled "Stage Coach Series" BU but ungraded... I think they were going for about $50-$55 each for common dates.
Good for breaking out into albums.
Paying an extra $50 to have NY Hoard on the label is not my cup of tea...

It's cheaper.

Thanks to everyone who clarified this, I mean isn't the point of having a coin in a slab to 1. verify its authenticity, and 2. get a grade? Doesn't seem like it's worth a premium to get an ungraded example.

Usually, but in the case of publicized/hyped hoards, there really isn't any question about authenticity, and by having the whole hoard put in holders the submitter one, saves on fees, two, saves even more on fees by not having the low end coins numerically graded, and three still get the low end coins in a slab that identifies them as being part of the hoard allowing them to be sold at a inflated price. Having a numerical grade on the low end coins would not significantly increase their hyped price, but would increase the over all cost for slabbing the deal.

And to continue the theme I started earlier, these are common date/mint coins and 63's usually don't bring a larger premium for them either. 40% of the hoard were 63's.

Makes me wonder how many more bags are out there languishing in bank vaults.

Years ago, (1990's), I was a communications system installer. I was running phone and computer wiring in a bank downtown. I had a particularly difficult run, through old stone foundation walls out towards the street side of the bank. There was a small door, about 4' tall with a padlock on it, and thinking it may be a way to get wires to the area on the other side of the bank I got access to it. Behind this was a dank room, actually under sidewalk above. To the left was a combination wheel in a steel door...hmmm waddaya think? The old bank vault. I asked if they ever used it anymore, and they said it hadn't been opened in nearly 40 years, but now nobody had the old combination. It was assumed that at the time the room was walled off, that safe had only been used to store records, the main safe in the building dates from the 40's. But yea, I sure did envision BAGS of old silver, hidden underneath the old rotting file boxes...Note to self, take on-line safecracking course!

There was another door with a padlock on it leading into an area UNDER the street as well. It was then I found out about the tunnels all over town, used during the Civil War to hide runaway slaves and for inter-business commerce. Had access all the way over to the old Ice House and Railroad station. Most all has been filled in or torn up for utilities now. Doors like this was usually a city maintenance access.