1890 As (Alamos) 8 Reales - Pricey!

Presuming the seller is the actual owner - it is unlikely he wants to sell it. The price is ABSURD. Even if Dunigan says MS is scarce for the date - it should sell for a few hundred dollars at MOST. Personally I would give the guy $125 and not a cent higher. In addition, unless I am completely blind - the coin is over graded at MS 66. There is a rim bump for Pete's sake and several very detracting carbon spot areas that pull down the oeverall eye appeal.

This is the kind of ridiculousness that will drive people out of the hobby.

I agree. This coin is very nice but not worth nearly as much as the seller is asking. I think it's just a publicity stunt. Many sellers list coins at ridiculous valuation to get attention towards their other listing or towards their business as a whole. I'd be a potential buyer at $500. MS-66 8 reales don't just grow on trees but there are enough coins out there in similar condition and there is a low enough demand that the price should be nowhere near what he's asking.

I am quite surprised that NO ONE has picked up the obvious problems with this coin that PRECLUDE a MS grade over 63.

The Mexican Cap and Ray Eight Reales is in all respects comparable to the US Morgan dollar. They were made at the same time, they are the same weight and suffer the same kinds of post strike damage that US dollars did. Since Mexico has not set a standard the only standard has to be US.

NGC has made a serious error in assigning this coin MS 66. Grading standards are actually written and are quite specific in some areas. MS 66 is defined as a GEM Uncirculated Coin. This is NO GEM.

The Eagle on a cap and ray coin is the central important focal area of the obverse side of the coin. The definition of MS 66 reads (for US dollars) as follows:



Emphasis added.

Here is the central part of the eagle's breast above the leg - the absolute center of the focal area. On the right I show all POST STRIKE DAMAGE. I consider this as VERY SERIOUS marking warranting a MS 63.



Next continuing with the definition of MS 66 for Morgan dollar coins. There are standards regarding the issuance of MS 66 grades that include in addition to marks - Strike - Luster and Eye Appeal. Except for strike which is full (well struck) the coin fails miserably.

The Luster is impaired by toning which is not MINIMAL as required. Spotting is readily visible (6 spots on obverse and 9 on the reverse all visible at 5X) not "NOTICED UPON CLOSE EXAMINATION". MS 65 and 66 require ABOVE AVERAGE EYE APPEAL, and many MS 66 will be superb in this category.

I also fail to see where any rim bumps even minor ones are allowed at all. This coin features a moderate bump over the E on the obverse. I suspect the reason the eagle is inverted is to minimize the impact.

The BAD problems with the obverse are in RED the minor ones in YELLOW. The reverse only needs a cursory look to see the terrible toning that can not be viewed as having a MINIMAL effect on eye appeal.




Has everyone decided to BUY THE SLAB and NOT THE COIN?