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1878 Morgan. Need Help Grading.

 
 
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 Posted 05/22/2019  02:01 am Show Profile   Bookmark this topic Add Hawkmoon to your friends list Get a Link to this Message
After looking through this part of the forum, I need help grading coins. I'm all over the place.




Edited by Hawkmoon
05/22/2019 02:21 am
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 Posted 05/22/2019  04:34 am  Show Profile   Bookmark this reply Add John1 to your friends list Get a Link to this Reply
( I'm no pro, it's just my humble opinion )
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 Posted 05/22/2019  08:40 am  Show Profile   Check GrapeCollects's eBay Listings Bookmark this reply Add GrapeCollects to your friends list Get a Link to this Reply
AU55
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 Posted 05/22/2019  10:07 am  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
AU-55 sounds right. Talk about baggy!
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 Posted 05/22/2019  11:35 am  Show Profile   Bookmark this reply Add Zurie to your friends list Get a Link to this Reply
Based on wear, I'd say AU-58, possibly lightly cleaned.
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 Posted 05/22/2019  6:20 pm  Show Profile   Bookmark this reply Add Hawkmoon to your friends list Get a Link to this Reply
Thanks for the replies. I've seen the PCGS Photograde before but still have a hard time distinguishing between a low MS and a high AU grade. @coinfrog What's baggy?
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 Posted 05/23/2019  04:21 am  Show Profile   Check westcoin's eBay Listings Bookmark this reply Add westcoin to your friends list Get a Link to this Reply
I'm not coinfrog but I can answer, baggy is a term used to describe bagmarks, tiny scuffs up to bigger hits from banging around with 999 other silver dollars in canvas bags. The mint stored silver dollars in bags of $1000 face value, they often were moved from vault to vault as they were counted in yearly, or after mint director changes, the cashier was responsible for accurate counts, basically any reason for moving, could have been put onto railcars for shipping them to other federal reserves or banks that need them. Uncirculated coins become MS60/61/62 through this process, in fact if you ever get a chance to handle a bag of silver dollars, you'll wonder how any coin could survive a trip into and around in a bag weighing about 50lbs. You could tell a bag of circulated dollars due to it being slightly lighter than others. Dealers in the mid 1960's bought up as many as they could during the end of silver production in coinage in 1965. Companies like Silvertowne in Indiana were handling literally 1000's of bags every week. They used coal chutes to slide them from the armored vans to their basement coin shop.



Today coins are moved from the mint is huge dumpster sized mesh bags that need a crane lift and heavy duty trailer trucks. They don't have an exact value anymore, they base the bags value of coinage on weight. That happens when you go from minting tens of millions of coins every year to minting and shipping hundreds of billions every year.
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Edited by westcoin
05/23/2019 04:29 am
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 Posted 05/23/2019  3:04 pm  Show Profile   Bookmark this reply Add Hawkmoon to your friends list Get a Link to this Reply
Thanks Westcoin
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 Posted 05/23/2019  5:56 pm  Show Profile   Bookmark this reply Add eternallogan to your friends list Get a Link to this Reply
AU Details - Cleaned
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 Posted 05/23/2019  8:36 pm  Show Profile   Check paralyse's eBay Listings Bookmark this reply Add paralyse to your friends list Get a Link to this Reply
Most similar Morgans that I see in slabs from PCGS and NGC are around AU50-AU53.
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 Posted 05/24/2019  5:52 pm  Show Profile   Bookmark this reply Add fortcollins to your friends list Get a Link to this Reply
I'm going old school on this one. It's old school AU, and the numerical scale doesn't matter.

Unless most of the marks are on the 2x2, the bag marks are severe, and as an AU (regardless of bag marks) it wouldn't be a slabbing candidate based on value range. IMHO, this one would be an AU at an EF price in a 2x2 on the bourse floor.

That said, it's a type coin in high demand at shows. They sure sell, and quickly.
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