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1884 S Morgan NGC Certified

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 Posted 02/22/2015  12:53 pm Show Profile   Bookmark this topic Add Mikey07nj to your friends list Get a Link to this Message Number of Subscribers
I believe they got this one right but could someone please explain the bidding and final price to me. Seems a little high to me or should I carry my 84 s in my pocket for 30 more years befor I sell it

1884-S-Morgan-NGC-Certified

1884-S-Morgan-NGC-Certified
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The Silver Searcher's Avatar
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 Posted 02/22/2015  12:54 pm  Show Profile   Bookmark this reply Add The Silver Searcher to your friends list Get a Link to this Reply
What was the bidding or final price? There is no auction link in your post.
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 Posted 02/22/2015  12:57 pm  Show Profile   Bookmark this reply Add Mikey07nj to your friends list Get a Link to this Reply
Edited by Mikey07nj
02/22/2015 1:03 pm
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SsuperDdave's Avatar
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 Posted 02/22/2015  1:00 pm  Show Profile   Bookmark this reply Add SsuperDdave to your friends list Get a Link to this Reply
As we know, 1884-S circulated heavily and is one of the rarest Morgans in Mint State but fairly common circulated. Oddly enough, though, they're also uncommon as Lowballs. There are only 3 in PCGS P01, and the first wasn't slabbed until 2012, long after Lowballs became popular and many were searching for them.

You've got a nice liquid coin there.
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The Silver Searcher's Avatar
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 Posted 02/22/2015  1:02 pm  Show Profile   Bookmark this reply Add The Silver Searcher to your friends list Get a Link to this Reply
Uh, that link goes to a steering wheel.

This appears to be the coin in question.

http://www.ebay.com/itm/1884-S-Morg...em2edd8fa43c

PCGS has three of these at PO01, and NGC has 5 at Poor/About Good. I guess that's a low population, perhaps some lowball collectors got in a bidding war?

EDIT: @SSDD, do you have any idea why they're uncommon as lowballs?

Edited by The Silver Searcher
02/22/2015 1:04 pm
Valued Member
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 Posted 02/22/2015  1:04 pm  Show Profile   Bookmark this reply Add Mikey07nj to your friends list Get a Link to this Reply
201285674044. That's it
Valued Member
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 Posted 02/22/2015  1:07 pm  Show Profile   Bookmark this reply Add Mikey07nj to your friends list Get a Link to this Reply
I guess many in that low of a grade did get melted back in 1980 when the market got flooded with them. It's just funny when your looking at one you want to buy and comparing prices and run across this.
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dave700x's Avatar
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 Posted 02/22/2015  1:15 pm  Show Profile   Bookmark this reply Add dave700x to your friends list Get a Link to this Reply
Looks like two lowball collectors locked horns over this one.
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vermontensium's Avatar
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 Posted 02/22/2015  1:22 pm  Show Profile   Check vermontensium's eBay Listings Check vermontensium's eCrater Listings Bookmark this reply Add vermontensium to your friends list Get a Link to this Reply
PO1 84-S's don't hit the market too often.

Someone needs it for a low ball registry set.
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SsuperDdave's Avatar
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 Posted 02/22/2015  2:43 pm  Show Profile   Bookmark this reply Add SsuperDdave to your friends list Get a Link to this Reply

Quote:
EDIT: @SSDD, do you have any idea why they're uncommon as lowballs?


Not enough data extant to form any overall conclusions. There are only a very few with PCGS P01 pops of 10 and over, and most of them are obvious issues like the 1921's and 1893-S.

Dirty little secret: there are probably thousands of P01's sitting in dealer junk bins and silver holdings across the country. The moment Morgan Lowballing makes the big time, the market will flood. Some issues will always be scarce like the Carson City GSA coins, but one guy with deep pockets and a travel budget could probably slab a thousand P01's in a year and blow the market to smithereens.
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