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 Replies: 24 / Views: 16,612 |
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Pillar of the Community
United States
516 Posts |
So - I've been scanning ebay for Morgans tonight, and I came across several Olathe Hoard Morgans that NGC slabbed as "Brilliant Uncirculated". There are others that I saw slabbed as MS63. So, what does "Brilliant Uncirculated" mean in this example? Why didnt they assign it a numerical grade? Here is one of the listings: http://www.ebay.com/itm/1884-O-MORG...em43ac1941c8Any ideas? |
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Pillar of the Community
United States
3540 Posts |
Weird. Maybe whomever sent these in for slabbing only want graded IF the coin would grade 63 or above? Just a wild guess. Others will have a definitive answer for you though.
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Moderator
 United States
23522 Posts |
I'm guessing that these were intended for resale on one of those infamous television coin sales programs, whose intended demographic wouldn't know MS63 from P01 if you slapped them with it.
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Pillar of the Community
United States
6384 Posts |
The Binion hoard of silver dollars also got the BU grade slabs from NGC a few years ago. My guess is that the submitter negotiated a cheaper bulk rate such that NGC just confirmed all coins were uncirculated, without the closer examination that would be required to assign (and guarantee) a specific MS number.
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Pillar of the Community
United States
4897 Posts |
Quote:
whose intended demographic wouldn't know MS63 from P01 if you slapped them with it.
or rather...if you "slabbed" them with it!  |
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Valued Member
United States
292 Posts |
What Jaobler said makes complete sense. Lead times would be significantly reduced if certification of BU is all that the customer requires. If you need thousands of coins graded for a fast turnaround at a reduced cost going that route would be ideal.
You could stipulate that anything MS65 or higher be graded but I'm not sure how well that fits with the process. If they don't have a minimum grade required for official grading you could, in theory, pull a diamond from the rough.
I looked around and only found speculation on this topic. Anyone with reputable sources please chime in. :D
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Pillar of the Community
 United States
516 Posts |
Yeah - that was one of the things I was curious about.. If this was a potential way to cherry pick higher grades more easily... I wonder if the hoard grades like MS63 are actually reslabs/regrades.. Just speculation
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Pillar of the Community
United States
1812 Posts |
My guess would be that they also don't check for VAM's... |
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Rest in Peace
United States
9104 Posts |
IIRC, some sample slabs are all marked ms65, regardless of condition.
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Moderator
United States
23522 Posts |
Quote:
What Jaobler said makes complete sense. Lead times would be significantly reduced if certification of BU is all that the customer requires. If you need thousands of coins graded for a fast turnaround at a reduced cost going that route would be ideal. That's the point, especially if the submission can be reasonably expected by the TPG to be all Mint State coins; it would only require a bare glance on the part of the grader to confirm that the coin is, in fact, Mint State and out it goes. That way you can pay maybe $6 each for grading and then hawk the coin on your show for $89 to the unsuspecting masses. With Morgans, the briefest glance at the cheek will tell you immediately if the coin should be segregated for a further look for a higher potential grade. Remember, a professional grader only has a few seconds per coin (literally) to come up with a grade; it sometimes amazes me that they can ever get it right at all. |
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Bedrock of the Community
United States
17884 Posts |
Bulk submission (possibly of the entire hoard) with a specified minimum grade. Anything that grade or higher gets graded and anything lower gets slabbed as BU. Cost per slab varies depending on what percentage of the submission is actually graded. The more coins graded, the lower the cost per slab.
The Olathe Dollar Hoard was a hoard of 25 original bags of dollars found in a bank in Kansas in 2009. Most likely acquired from the Treasury disbursal from the early 1960's.
So far I know the hoard contains 81-S,83-O,84,84-O,85,85-O,86,and 1887 dollars
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Valued Member
United States
179 Posts |
 Just wanted to share, I have a sub collection of slabbed "hoard" coins and this is my Olathe. |
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New Member
United States
27 Posts |
Edited by derekscoinshop
03/17/2018 5:22 pm
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New Member
United States
27 Posts |
Pics may be too small ; looks like I have 6 different; 1881 S, 1886 P, 1887 P, 1883 O, 1884 O, 1885 O .
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New Member
United States
27 Posts |
Looks like I am missing 1884 P after reading all previous posts.
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New Member
United States
27 Posts |
Unable to confirm any 1884 P from Olathe Hoard. Anybody have a pic of one ?
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Replies: 24 / Views: 16,612 |
Posted 01/21/2012 11:49 pm
