What Would You Do With This 1890-S Morgan?

If this is the same coin as listed then why are you returning it and what will be your reason for doing so?

because he is entitled to do so. he took a shot at seeing it in hand and determined that $260 for a $100 coin is not worth it. it wont grade to a $2000 coin.

1890-S MS64 bids 265/1075 between 64-65 and retail spread is 325/1310 between 64-65, giving a 64/65 price difference of $810 w/s and $985 retail, a MAJOR gap.

CPX has low sight-unseen (with CAC approval) bids of 200/765 between 64-65, giving a blue->gray spread of $65 for MS64 and $310 for MS65, also a sizeable gap.

64+ tends to fall towards the 64 side of the spread, I could see a wholesale around 500 for a 64+ with CAC approval.

FYI -- if he paid $260 for this coin and it comes back in a 64 holder he paid just ahead of grey bid for a raw V.Choice Unc, not exactly a terrible deal, in fact quite decent. 63 holder would be a major loss.

There is profit to be made if you can buy a 64 and get it into a 65 holder, but you need to really, really know what you're doing or you'll end up overpaying for a 64. That's why OP is returning. Unless it's a "slam dunk" OP is risking over a hundred bucks for the chance to make an eight-hundred-dollar gain at wholesale prices. It's a matter of gambling, and I don't think OP has confidence that his $100 bet will pay off.

Dealers / investors who make a market will simply keep resubmitting the coin between PCGS and NGC until it gets a 65, and if it gets a NGC 65 they will cross it to PCGS. There is enough spread between a CAC 64 and a straight 65 to make it worth losing a 64 CAC to gain a 65.

If it is a MS64 coin you got a pretty good deal anyway. Why return it? Silver price is going up so it will probably be more expensive in the near future. I don't think it is a $100 coin. I bet you could not buy that coin on ebay for $100.

If you get exactly what you pay for then sending a coin back just because you have changed your mind isn't a valid reason IMHO.

doesn't matter. if a seller offers a return policy on the bay or any other platform than a buyer may return in the allotted time frame.

I don't have enough fingers and toes to count the amount of times I won auctions and/or BINs only to return the coin, at my cost, because in hand I knew the coin was not going to make what I thought it was or simply did not like it regardless of a spot on match to the sales photos.

We're collectors and at times, speculators. We're dealing in commodities when the latter and the current system is set up for us to return if need be, for any reason, valid or not in the eyes of the greater community.

And more often than not, with trickery in photo editing, bad cell phone cam shots etc... its foolish to ever purchase a coin online for any amount of money if you do not have the opportunity for a return, regardless of the reason the seller may or may not want to hear.

Good choice on returning it. My gut tells me you'd be disappointed with the results and hunting morgans is kinda my thang