1884-S Morgan Silver Dollar Please Help

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Author	Replies: 6 / Views: 1,251
LEsurvival New Member United States 2 Posts	Posted 09/04/2007 9:21 pm hey I just found a 1884-S Morgan silver dollar with the rest of my dads coins and the price guide at PCGS said that a grade MS/PR-60 is worth $7000.00. now this coin has a grade of MS/PR-63 which PCGS says can go for $32,500 which seems crazy to me. I just wanted to get the opinion of some people about how much the coin actually is and what would be the best way of selling it. Report this Post to the Staff

halfabustisbetter Pillar of the Community United States 1984 Posts	Posted 09/04/2007 9:26 pm Are you saying this coin is professionally graded in a plastic slab? If so what does the label say exactly--it would be great if you could post pics as well. Thanks. Report this Post to the Staff
SeatedNut Pillar of the Community United States 2797 Posts	Posted 09/04/2007 9:36 pm LEsurvival, That coin has a huge jump in price between Almost Uncirculated and Uncirculated. That's due to the rarity of that date in mint state. There are many examples to be had up to AU. From your description I take it that someone has assigned a grade to the coin. If it is one of the top three third-party graders (PCGS, NGC or ANACS) then you've discovered some hidden wealth. If it is in a paper 2x2 holder with a written grade, then that's not necessarily a sure thing. The only way we can help is if you are able to post some decent pictures or scans of the coin (be careful in handling it). We love hearing about found treasure and really like it when you post a picture. Report this Post to the Staff
LEsurvival New Member United States 2 Posts	Posted 09/04/2007 9:51 pm i took the coin in when I read the price online and my dads friend is a big coin guy its like his life and he graded it and put it in a little case. I will get some pictures up as soon as possible or at least scan it. one thing I should mention is that I just got into coins so I dont know much about how they are priced and graded. so also if anyone would like to give me like a breakdown course that would be greatly appriciated. thanks everyone Report this Post to the Staff
SeatedNut Pillar of the Community United States 2797 Posts	Posted 09/05/2007 09:06 am LEsurvival, Here are two helpful links for pricing and grading coins. The first is the PCGS price guide. The listed prices are for the top dollar paid for a coin assigned that grade, so you need to apply some adjustment factors. I usually start at 50% of the stated price and add/subtract based on desirable/detracting characteristics of the coin. http://www.pcgs.com/prices/ The next link is a tutorial on grading coins. It has some good Morgan dollar photos to help you determine where the coin first receives "wear". If there is no wear on these high points, then you may have an uncirculated coin. Have fun and remember ... you promised us pictures. http://www.coingrading.com/lustre1.html Report this Post to the Staff
tights24 Pillar of the Community United States 2254 Posts	Posted 09/05/2007 5:52 pm quote: so also if anyone would like to give me like a breakdown course that would be greatly appreciated. Welcome to the forum LE. If you really want to enjoy this hobby, you've come to the right place. I'll tell you this, it will not be a quick and easy course. Your best bet in my honest opinion is to peruse the coin grading section here to get some basic ideas of grading. Every coin is different, and grading standards are sometimes different for a given series. Morgan dollars are graded tougher than most in my opinion since the market is flooded with them. Regardless of that, we also have a new section on coin supplies and reference documents which will guide you to the best books to buy to get yourself started and dangerous. The only stupid question on this forum is the one that goes unasked. You will find that new and seasoned collectors and members will take the time out of their day to answer what you may think is the most trivial question here. Or at least they will point you in the right direction. Good luck, and Report this Post to the Staff
Sagan Valued Member United States 57 Posts	Posted 09/05/2007 6:35 pm We definatly want pics! Getting a true mint state 1884-S is pretty tough, for example out of over 110 lots sold on Teletrade over the last full year, only 3 where MS, with the highest being MS62 (where most Morgans are like 90%+ sold are MS60 or higher instead of 2%). After you show some pics someone here can give a rough estimate if it's near MS, and if so you probably will want to have it graded by one of the big grading companies... Report this Post to the Staff
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