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A 93s Morgan - Opinions Please

 
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Pillar of the Community
United States
1522 Posts
 Posted 08/12/2019  3:22 pm  Show Profile   Bookmark this reply Add Bump111 to your friends list Get a Link to this Reply
Thanks to Slider and BadDog for the additional comments. If I can locate my USB microscope, I will try to examine the die markers as described.

Good point about posting separate photos - I didn't consider that more detail would be needed for a better examination. If I still have the individual photos, maybe I'll post them here later.

On another note, I sent this photo to GC for analysis at their request and they came back with the opinion that the coin may not be authentic based on mint mark. As I said, I will be taking this coin to my August club meeting for first-hand evaluation before sending anywhere.

Edit:

Quote:
please get this coin graded and then auctioned


Missed this prior to last reply. That is the plan.
Edited by Bump111
08/12/2019 3:26 pm
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 Posted 08/12/2019  3:44 pm  Show Profile   Bookmark this reply Add jimbucks to your friends list Get a Link to this Reply
You do know that GC will send it to a TPG on your behalf prior to auction, right? That carries a lot more weight than people at your coin club.
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 Posted 08/12/2019  4:29 pm  Show Profile   Bookmark this reply Add Bump111 to your friends list Get a Link to this Reply

Quote:
You do know that GC will send it to a TPG on your behalf prior to auction, right? That carries a lot more weight than people at your coin club.


Yes, Heritage has the same package. I just don't want to go through the process unless I'm sure it's the real deal.

For the record, I would bet money on the Morgan specialists in my club - they've been at this for decades. There are very knowledgeable specialists on this forum as well, but it isn't fair to pin them down using only my sub-par photos.
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 Posted 08/12/2019  5:33 pm  Show Profile   Check westcoin's eBay Listings Bookmark this reply Add westcoin to your friends list Get a Link to this Reply
I received a reply from  Heritage after contacting them. They asked for a photo and then offered to buy it. Is that their usual routine? I thought they only took consignments?


Yes they offer cash for coins all the time. They usually offer less than what the coin would bring in auction of course, they do take consignments but more look for larger or major collections in the $100K range or more. My experience anyways, I have a couple of good friends fairly high up in their organization. Great Collections is a good company too, they can provide the certification as well.

I would want to know if the coin is genuine before sending it to them for sure. No need to waste everyone's time and cost a bunch of money only to find out it's a fake. Take it to your local coin group, maybe look into some local dealers, ANA and PNG dealers to get fair shake at the price, though I would NOT sell to them, they are not going to be the best price.
"Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013!
ANA Life Member #3288 in good standing since 1982, EAC Member #6202, NBS Member, 2 variety collector.

See my want page: http://goccf.com/t/140440
Pillar of the Community
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 Posted 08/13/2019  09:20 am  Show Profile   Bookmark this reply Add Bump111 to your friends list Get a Link to this Reply
Great idea, Westcoin - thank you. I will see if my LCS is open this weekend (very often away at shows) and take it to them for a look. They're a good bunch of guys and gals.
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 Posted 08/13/2019  4:23 pm  Show Profile   Bookmark this reply Add Slider23 to your friends list Get a Link to this Reply
Below are the die markers with the rabbit ears in the left leg of the R and the slash in the T. There is another little know die marker. You should be able to easily see these die markers with 10X magnification. If these die markers are on the coin, I am almost certain you have a genuine example.

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 Posted 08/14/2019  08:47 am  Show Profile   Bookmark this reply Add Bump111 to your friends list Get a Link to this Reply
My USB scope has a light ring that cannot be turned off, so I wasn't able to get good, axial lighting on the incuse letters. But, I do see signs of the bunny ears. Hope to confirm with the microscope at the club meeting. I also attached higher res raw images of obv/rev.

Thanks to all who have offered opinions and advice. I will let you know how this all proceeds.




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 Posted 08/26/2019  1:35 pm  Show Profile   Bookmark this reply Add Bump111 to your friends list Get a Link to this Reply
Final verdict, from CCF members (thank you very much!), Raleigh Coin Club and microscope, is that it is a real '93S Morgan. I've contacted a couple of auction houses. Sounds like the grading fee will be $30-40. Heritage charges a 10% seller fee. Is that going to be the case across the board or do other houses have different fee structures?
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 Posted 08/26/2019  9:25 pm  Show Profile   Bookmark this reply Add jerryc39 to your friends list Get a Link to this Reply
I think if your coin sells for more than a thousand than Great Collections charges 0 sellers fee
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 Posted 08/26/2019  9:33 pm  Show Profile   Bookmark this reply Add Bump111 to your friends list Get a Link to this Reply
Thanks, Jerry. I also spoke with Stacks. They said we get hammer price. So, all other things being equal, sounds like GC or Stacks will be the better options. Maybe Heritage prefers to deal with coin lots rather than individual items from one seller.
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 Posted 08/30/2019  1:53 pm  Show Profile   Bookmark this reply Add BadDog to your friends list Get a Link to this Reply

Quote:
Sounds like the grading fee will be $30-40. Heritage charges a 10% seller fee. Is that going to be the case across the board or do other houses have different fee structures?

The Heritage seller's fee is negotiable, but with just a single coin they most likely will not budge from the 10%. Heritage is a very good auction house, but I'm not sure they're worth a 30% fee (20% buyer's and 10% seller's).

For auction houses that charge a buyers fee (pretty much all of them nowadays), you should keep in mind that potential buyers will lower their bids due to the buyers fee they will end up paying. If you must also pay a seller's fee, then your potential sales price gets hit with both fees. Because of this, I wouldn't recommend listing it with Heritage. Stacks & Bowers or Great Collections (the coin should sell for more than $1000 and have no seller's fee) might be better since they wouldn't have a seller's fee.

Unless you're willing to sell the coin at any price, you also want to ask the auction house what their reserve policy is and what the fees are, if any, if the coin doesn't sell at or above your reserve price.

You might want to consider getting the coin graded yourself (or have your LCS submit it for you) and try listing it on eBay (either as a BIN or reserved auction. Once it's graded, you can look at comparable sales to determine what to price it at.) before signing up with an auction house. This might end up netting you the most amount. If you don't like what you're being offered on an eBay listing, then you could always go the auction house route.
Edited by BadDog
08/30/2019 1:58 pm
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 Posted 08/30/2019  11:28 pm  Show Profile   Bookmark this reply Add Bump111 to your friends list Get a Link to this Reply
Great info, BadDog. Thank you. I think we're going to send this in for grading ourselves and go from there. Anyone have suggestions about which TPG based on possible details designation?
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 Posted 08/31/2019  02:51 am  Show Profile   Bookmark this reply Add Zurie to your friends list Get a Link to this Reply
Why do you think it might detail? The rim bumps look pretty minor.
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 Posted 08/31/2019  08:18 am  Show Profile   Bookmark this reply Add Bump111 to your friends list Get a Link to this Reply

Quote:
Why do you think it might detail?


One of the rim hits is pretty deep (10 o'clock) and it may have been cleaned in the past. I'm certainly hoping for a clean grade, but JIC, I hear that NGC may be the better company of it detailed.
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 Posted 10/24/2019  08:33 am  Show Profile   Bookmark this reply Add Bump111 to your friends list Get a Link to this Reply
The '93S has been submitted to PCGS for encapsulation. I also sent in a '92S that I have along with the '79S/rev of '78 VAM-56 that I found a couple of years back:




The waiting game begins. I think the '92S may be along the same grade as the '93S, so rationale for grading is borderline, but I figured since I'm sending in one might as well get three in the shipment.

Thanks, again, to everyone for their assistance in this process.
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