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1882-S Morgan: Not Rare, But Exceptional--Please Help!

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Valued Member

United States
115 Posts
 Posted 10/22/2011  4:47 pm Show Profile   Bookmark this topic Add rexvictor to your friends list Get a Link to this Message Number of Subscribers
Hello everyone,

I just picked up this Morgan today--it really spoke to me from the case, but I guess the dealer wasn't too hot on it. He said: "They look like that after having been around some kind of paper. If you're just looking for bullion coins, we have some that are a little cheaper." Glad this one didn't make it into the melting pot!

Would you please estimate a grade for it? Who would be best to slab it? I wish I had been able to get a shot that shows the cameo and proof-like quality of the reverse. I love the "pull-away" toning that has left the areas around some of the stars, letters, and numbers white.

The very slight golden toning gives way to russet and red near the rims. Enjoy: first the glamor shots and then some more clinical pics! Thanks!

1882-S-Morgan:-Not-Rare,-But-Exceptional--Please-Help!

1882-S-Morgan:-Not-Rare,-But-Exceptional--Please-Help!

1882-S-Morgan:-Not-Rare,-But-Exceptional--Please-Help!

1882-S-Morgan:-Not-Rare,-But-Exceptional--Please-Help!
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BH1964's Avatar
United States
10982 Posts
 Posted 10/22/2011  5:15 pm  Show Profile   Check BH1964's eBay Listings Bookmark this reply Add BH1964 to your friends list Get a Link to this Reply
Your first set of photos are very nice. It looks like it could make MS64 and is not worth submitting for TPG IMHO.

It would need to be 65 to justify grading cost and you'll also risk a no-grade for artificial toning. I'd enjoy it in an Air-Tite.
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CaptainFwiffo's Avatar
United States
4132 Posts
 Posted 10/22/2011  5:35 pm  Show Profile   Bookmark this reply Add CaptainFwiffo to your friends list Get a Link to this Reply
I don't think there's any risk of anyone calling that artificial toning, it's quite natural colors/patterns for a Morgan. The pull-away effect particularly is not normally seen on doctored coins. Beautiful Morgan.
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silverguy's Avatar
United States
109 Posts
 Posted 10/22/2011  6:31 pm  Show Profile   Bookmark this reply Add silverguy to your friends list Get a Link to this Reply
The first set of pics are beautiful nice pickup! Are the second set of pics of the same coin? The second set of pics are a little more questionalbe. did you clean it?
Valued Member
United States
115 Posts
 Posted 10/22/2011  6:41 pm  Show Profile   Bookmark this reply Add rexvictor to your friends list Get a Link to this Reply
Hi Silverguy,

Yep, same coin, no cleaning--any tips on photographing coins would be appreciated! The first two were with diffuse sunlight, second two with LED spotlights, which gives the harsh look and hopefully make it easier to grade. The coin is quite a chameleon--the overall toning (but not at the edges) is pretty invisible in some lighting situations.
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D0ubl3Eagle's Avatar
United States
5854 Posts
 Posted 10/22/2011  7:30 pm  Show Profile   Bookmark this reply Add D0ubl3Eagle to your friends list Get a Link to this Reply
Nice coin! Looks to be at least MS-63 but could very well be MS-64.
Valued Member
United States
115 Posts
 Posted 10/22/2011  7:40 pm  Show Profile   Bookmark this reply Add rexvictor to your friends list Get a Link to this Reply
Thanks, D0ubl3Eagle! I guess the fact that it was just $40 led the dealer to think I was looking for bullion...it was one of the cheapest Morgans he had but definitely among the more attractive.
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Darth Anarchus's Avatar
United States
1388 Posts
 Posted 10/22/2011  10:22 pm  Show Profile   Bookmark this reply Add Darth Anarchus to your friends list Get a Link to this Reply
MS-63, possibly a star candidate, but I don't see it hitting 64... There are a couple of hits in the focul areas that would hold this back... That said, it is an absolutely gorgeous coin that I would love to have any day of the week...
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fenton's Avatar
United States
4989 Posts
 Posted 10/22/2011  11:54 pm  Show Profile   Bookmark this reply Add fenton to your friends list Get a Link to this Reply
Probably MS-63
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jessvc1's Avatar
United States
2596 Posts
 Posted 10/23/2011  12:01 am  Show Profile   Bookmark this reply Add jessvc1 to your friends list Get a Link to this Reply
This is a coin you would want to grade in hand because of the dark tone, but it looks like MS details.
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D0ubl3Eagle's Avatar
United States
5854 Posts
 Posted 10/23/2011  12:06 am  Show Profile   Bookmark this reply Add D0ubl3Eagle to your friends list Get a Link to this Reply
For 40 bucks, you sure grabbed a beauty!
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United States
1547 Posts
 Posted 10/23/2011  07:56 am  Show Profile   Bookmark this reply Add eddiespin to your friends list Get a Link to this Reply
The clinical shots make it clear to me that the questionable areas I'm seeing in the more flattering shots are in fact nothing more than luster grazes. It's at least a MS63. I wouldn't think of slabbing it, however, until and unless you're ready to part with it. Until then, just tuck it away in a mylar 2x2, or some such thing.

Just a word on learning how to grade these--that's the whole fun of it. A slab has become a status symbol, these days, IMHO, and, you don't want to fall into that psychological trap. Once you do, IMHO, you're finished as a collector. Sometimes, I think, in the "old days" (that is to say, before the TPGs), we were a lot brighter than we are, today. That's not hard to understand. The simple fact was, back then, we had to know how to grade, in order to avoid getting ripped-off. Today, a great many of us are psychologically-accustomed to delegating that grading responsibility to third-party eyes, and, for that matter, to paying for it, dearly, without so much as even a second thought to what they're doing. The upshot is, they "learn" how to collect slabs, stars, plusses and stickers; e.g., "status symbols." Learn how to collect coins, instead. That's more satisfying. OK, soap box off.
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PlumCrazy814's Avatar
United States
883 Posts
 Posted 10/23/2011  08:58 am  Show Profile   Bookmark this reply Add PlumCrazy814 to your friends list Get a Link to this Reply
I agree with most of what you say, Eddiespin

I think there are some rare cases when TPG has value.

We should always use our personal judgement when buying a coin - especially if you are buying with the intent of eventual resale value.

I think the posted Morgan is in great shape for its age and I would love to have it in my collection. I like the toning. MS-63
Edited by PlumCrazy814
10/23/2011 08:59 am
Rest in Peace
dave700x's Avatar
United States
10625 Posts
 Posted 10/23/2011  09:28 am  Show Profile   Bookmark this reply Add dave700x to your friends list Get a Link to this Reply
Nice looking Morgan. I would call this a lock at MS63 based on the "glamour" photos. I would agree the consensus to not send this one to a TPG to have it slabbed. This would destroy the profit you have achieved. IMHO the only reason to send a coin to a TPG is if you are considering the resale of a coin that has a substantial value gain moving up from one grade to the next. Just slap it in your Dansco or a 2 x 2 and enjoy!
Valued Member
United States
115 Posts
 Posted 10/23/2011  10:09 am  Show Profile   Bookmark this reply Add rexvictor to your friends list Get a Link to this Reply
Thanks so much for the great comments!

Eddiespin is right that it's easy to fall into the trap of buying the holder and not the coin. The main things they offer are some (increased) degree of fungibility for the coins, physical protection, and a third-party opinion on grade--but this forum is a great place for these opinions, and with good pictures, I really trust all the knowledgeable people here!
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JadeSpear's Avatar
United States
62 Posts
 Posted 12/10/2011  06:37 am  Show Profile   Bookmark this reply Add JadeSpear to your friends list Get a Link to this Reply
I am sorry, but I have to humbly disagree with what I intially began to read. My opinion---this coin is a RETONED with OLD CLEANING (heavy dipping). The coin was retoned probably in an old yellow 2x2 paper flip. An old-timer trick. The coin's surfaces are MS62-63ish. But I noticed the grayish toning in the 'flash' / overexposed shots. I have seen many such coins. If you dip this coin, the luster will be subdued. I hope you did not pay much for this coin. I'm confident you didn't from your description of your purchase. In my opinion, it will not slab for PCGS or NGC. Other services might, but the grade I expect it will get will not make it worth the $25-30 you would spend.
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