| Author |
 Replies: 9 / Views: 1,423 |
|
|
New Member
United States
7 Posts |
I just bought an 1878-CC Morgan dollar. It was graded AU. It has the details of the grade or possibly that of EF-45, but it has no luster (cartwheel type or frosty). My question is is it possible it may have been a prooflike that was slightly circulated? Is this a characteristic of some of the 1878-CC Morgans? I have no photo since I have no equipment to upload one. |
|
|
|
Pillar of the Community
United States
1436 Posts |
The more likely scenario is that the coin has been dipped / cleaned. Does the entire surface of the coin have the same luster-less color?
|
|
New Member
 United States
7 Posts |
Yes. What would a circulated prooflike look like? Is it still worth having even if it has been dipped?
|
|
Bedrock of the Community
United States
36745 Posts |
Even with dull luster you should be able to see some indication in the protected areas that there is a mirrored surface.
|
|
Pillar of the Community
United States
6384 Posts |
Of course the coin is "worth having", you just need to be aware its value is reduced due to the impaired luster. The price you paid should have been lower (by maybe 20-30%) than the cost of an example with comparable detail and full original luster.
|
|
Bedrock of the Community
United States
14454 Posts |
a coin that has has been cleaned/dipped or has any other problems will be graded like you mention. It is just a problem coin just like any other problem coin. Some collectors do not care if its a problem coin that has been lightly cleaned or over dipped as long as they can get it for about half of what one would cost in the same condition that was problem free. They prefer these over a scratched problem coin or one with other problems that is distracting to the eye (which would be graded the same). If it is a rare coin sometimes problem coins are all you can find and they may sell for what any other coin would but that is rare. I myself do not have room in my collection for a problem coin and if I can help it I will not buy one at any cost because they are so hard to sell. But if you can get it for half of the price of a problem free coin then you may want to consider it but do not pay what a problem free example is worth because you will always be upside down on the coin
|
|
Valued Member
United States
73 Posts |
"if you can get it for half of the price of a problem free coin then you may want to consider it but do not pay what a problem free example is worth because you will always be upside down on the coin"
_________________________________________________
TIMES 2
A proof? take off the beer googles, she is likely what she is LOL...a burnt out Morgan.
Now if its a pocket worn/polished XF with honest wear and tear then thats not necessarily a problem coin
Without seeing it no one can say if its been abused or just the way any other worn coin should look.
Ive got quite a few EF/AU Morgans that still look new except for obvious pocket wear in the usual spots.
Then I've got some that would grade the same but just dont have that Morgan sparkle anymore. Then I've also had a few that were just plain DULL for whatever reason. Some issues looked poor right off the press.
Most Carsons were pretty decent strikes but the Carson City mint coins were struck with the hand me down dies from Philadelphia. That was a problem for many years especially since the San Fransisco Mint had the ear of the boss in Phillie and resented the backwoods Nevada mint. Carson City got crap problem dies as they were the 'backwoods' Mint at the time, plus 1878 dies were crappy recycles even in the best pairings. Its a tribute to thepeople at the CC Mint who refurbed the dies and did the best they could with what they had as many Carson City coins are superb. A few early coins from each new die had some real zing but the 1878 dies were an experiment in progress most of the year. Still, I have a spot for ANY 1878 CC Morgan. I love them.
At one time as I was on the cusp of becoming a more discerning collector, I had as many 'problem' coins as nice ones.
All of the dull/damaged coins gradually sold for their true value, far less than I paid. (ยช-)
|
|
Bedrock of the Community
United States
14454 Posts |
Quote:
At one time as I was on the cusp of becoming a more discerning collector, I had as many 'problem' coins as nice ones. I have described my first coins a few times on here. I joined NGC just knowing my spectacular coins I had amassed were going to be some of the best looking coins that have ever crossed their desk. Needless to say out of the 10-15 I sent in only about 3 or 4 came back in a slab (as NGC didn't slab problem coins, NCS did) and the ones in slabs were some of the "why would someone slab that thing" type of grades. Needless to say after that I figured it was time to take a step back and really learn the hobby if I was planning on sticking with it for any length of time |
|
Bedrock of the Community
United States
17884 Posts |
Of course it is possible to have a lightly circulated prooflike Morgan. These were made to be used, no one went through the bags and segregate out the PL's. So if they got out into circulation they would get circulation wear.
|
|
New Member
United States
7 Posts |
Condor101: Is it possible that circulation could be a reason for the dull surface rather than cleaning? It is bright colored, but no hairline marks.
|
| |
Replies: 9 / Views: 1,423 |
|
Posted 09/22/2012 10:31 am
