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MS 1882 CC Morgan  
 

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Pillar of the Community
Canada
4890 Posts
 Posted 12/15/2010  10:11 pm Show Profile   Bookmark this topic Add Canadian-Banknotes to your friends list Get a Link to this Message
I have an oportunity to buy a MS 1882 CC Morgan dollar. The seller is looking for $250. What are your opinions on the coin? I wasn't 100% sure.












I have asked for close up pictures of the coin, but for know what would you grade the coin?

Thanks
Want to Buy: PCGS Graded 1878-S Morgan dollar (PO-01)
Pillar of the Community
Canada
4890 Posts
 Posted 12/15/2010  10:16 pm  Show Profile   Bookmark this reply Add Canadian-Banknotes to your friends list Get a Link to this Reply
Update: After a quick search on eBay I seen that these coins have sold quite often in the $160 area. Some are also graded with "GSA Hoard" in the comments. (Thats never a good sign)
Want to Buy: PCGS Graded 1878-S Morgan dollar (PO-01)
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United States
23514 Posts
 Posted 12/15/2010  10:55 pm  Show Profile   Bookmark this reply Add SsuperDdave to your friends list Get a Link to this Reply
Discount the usage/overusage of the term "GSA Hoard." It's not relevant. Yes, it was from a hoard of coins that GSA released.

The pics are too small for any accurate decision to be made, but encouraging from the detail available. The container indicates a Mint State coin, and it may be considered definitive to that designation. That's reliable.

The coin inside looks stupendous. At first glance, in very small photos.

It looks like there are no marks on the cheek, and no marks in the fields either obverse or reverse. If you do not have the chance to see it in any greater detail, do not buy it.

If you can observe it in person, bring a 5x loupe. If the fields remain pristine (obverse more important than reverse), and the cheek remains relatively undamaged under the loupe, jump on that coin at $250.

I urge you to look at Heritage Auctions archives, concentrating on MS66 Morgans, to form a baseline. This coin looks like one in the small pics, which would make $250 a steal.

But the pics are too small to be definitive. There's room for it to go down as low as 64, based on what I see, and that would make $250 excessive by about $50.

I am cautiously optimistic. Various details make me think the photos are not altered, and there's enough detail there for me to wish I had $250 handy and the ability to look at the coin in-hand. Pursue this, if you can.
Pillar of the Community
United States
8587 Posts
 Posted 12/16/2010  12:31 am  Show Profile   Check BH1964's eBay Listings Bookmark this reply Add BH1964 to your friends list Get a Link to this Reply
Based only on the images provided, this coin looks like an absolute steal at $250. I agree with what SuperDave posted except the part about $250 being $50 too high for a GSA 1882-CC MS64. I believe $250 would be a market correct price if that coin is an MS64.

That said, this coin looks like a 65. I blew the images up 300% and the resolution was still decent; this piece could even be a 66. At 65 it's a $450 coin and at 66 they go $1,000 easy.

I would want to verify the integrity of the GSA slab and if it looks good - grab it quick!
ANA #R3154474
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3275 Posts
 Posted 12/16/2010  07:48 am  Show Profile   Bookmark this reply Add fenton to your friends list Get a Link to this Reply
Yes good chance this is a 65. I pay 250 all the time for the best ungraded ones I spot so I would say go for it!

Caveat: be sure to verify that the coin pictured is the one being sold. May just be their marketing materials.
Edited by fenton
12/16/2010 07:49 am
Pillar of the Community
Canada
4890 Posts
 Posted 12/16/2010  08:40 am  Show Profile   Bookmark this reply Add Canadian-Banknotes to your friends list Get a Link to this Reply
New Photos






Want to Buy: PCGS Graded 1878-S Morgan dollar (PO-01)
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3275 Posts
 Posted 12/16/2010  09:05 am  Show Profile   Bookmark this reply Add fenton to your friends list Get a Link to this Reply
Based on the new pictures I would say MS-64. Too much cheek and field chatter to make MS-65. Value is about $210 in an auction setting including fees.

($250 is still a fair retail price)
Edited by fenton
12/16/2010 09:07 am
Pillar of the Community
Canada
4890 Posts
 Posted 12/16/2010  11:48 am  Show Profile   Bookmark this reply Add Canadian-Banknotes to your friends list Get a Link to this Reply
Thanks everyone for your opinions on the coin.

I have asked the seller for some clearer pictures of the coin, here they are. What are your opinions based on these new pictures?

Thanks


Want to Buy: PCGS Graded 1878-S Morgan dollar (PO-01)
Pillar of the Community
Canada
4890 Posts
 Posted 12/16/2010  11:54 am  Show Profile   Bookmark this reply Add Canadian-Banknotes to your friends list Get a Link to this Reply
Looking at the coin I have an opportunity to buy, and a few that were sold at Heritage that are graded MS-64. The coin I am looking to buy seems to be at least an MS-65. What do you think?

http://coins.ha.com/common/view_ite...o=9463#Photo
http://coins.ha.com/common/view_ite...o=9464#Photo
Want to Buy: PCGS Graded 1878-S Morgan dollar (PO-01)
Pillar of the Community
United States
8587 Posts
 Posted 12/16/2010  12:24 pm  Show Profile   Check BH1964's eBay Listings Bookmark this reply Add BH1964 to your friends list Get a Link to this Reply
It looks 65 to me. The reverse looks 67! The obverse might be one of those "traditional" 64s (as fenton noted) but these receive 65 grades a lot these days.

Overall, the coin should go 65 based on the pictures.
ANA #R3154474
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3275 Posts
 Posted 12/16/2010  12:28 pm  Show Profile   Bookmark this reply Add fenton to your friends list Get a Link to this Reply
Yeah I agree could go MS-65 depends on whether you get a friendly TPG. If you assume a 50/50 chance it's a good value @ $250
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14454 Posts
 Posted 12/16/2010  2:38 pm  Show Profile   Bookmark this reply Add Bryan1315 to your friends list Get a Link to this Reply
I may take a chance at 250.00 if it comes back MS-64 you may lose about 20-30 bucks (or you could break even, since it would be a Nice 64) but if it comes back 65 you will gain about a $100.00 or so

Quote:
Looking at the coin I have an opportunity to buy, and a few that were sold at Heritage that are graded MS-64. The coin I am looking to buy seems to be at least an MS-65. What do you think?

http://coins.ha.com/common/view_ite...o=9463#Photo
http://coins.ha.com/common/view_ite...o=9464#Photo
I have to say, that is the worst looking MS-64 I have seen in awhile so not a good one to judge grade by. If you are going by that coin being a 64 then the coin you are looking at is a MS-68 (which isn't going to happen). The coin you linked to is just a Dog 64 and I would never give 62 money for it. This is a good MS-64 to go by http://coins.ha.com/common/view_ite...=22467#Photo
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United States
33 Posts
 Posted 12/16/2010  2:44 pm  Show Profile   Bookmark this reply Add goldduster to your friends list Get a Link to this Reply
I have seen higher prices on these in the past, although higher price does not always equate to higher value depending on the grade. I would be inclined to jump on this one.
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1414 Posts
 Posted 12/16/2010  7:40 pm  Show Profile   Bookmark this reply Add southsav to your friends list Get a Link to this Reply
In my humble opinion, I would conservatively give it a 63-64. I agree with superdave re the cheek and field marks. I have seen NGC graded GSA holders in this range go for 180-235 depending on the coin and strike.
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880 Posts
 Posted 12/18/2010  09:16 am  Show Profile   Bookmark this reply Add lukkyseven to your friends list Get a Link to this Reply
The reverse is sooo nice! What a shame about the obverse!
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1150 Posts
 Posted 12/20/2010  04:27 am  Show Profile   Bookmark this reply Add mitchhailey to your friends list Get a Link to this Reply
If I were you I'd buy it. No matter what it's a gorgeous coin and the price is fair.
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