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 Replies: 11 / Views: 1,463 |
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Pillar of the Community
United States
533 Posts |
One of my buying focus is PCGS graded and slabbed Morgans in MS-64. Remembering I am a beginner I try to use the price on the PCGS website and stay 10% below it. So a MS-64 common date that lists there for $79 I will go up to $71.10 shipping included. I miss a few, get a few, but I figure this way I won't get burned. So with those buying guidelines in place let me ask a few questions: 1. I have read in multiple places that the old slabbed coins a sell for a premium because they graded harder back then. But to be worth more wouldn't it need to be re graded and do MS-65? Given there is usually a price gap between 64 and 65 if someone thought the coin would grade higher wouldn't they most likely have resubmitted it? Unless I can definitely tell the difference between a 64 and a 65, and I can't, is it worth a premium for the old holder? 2. Some 64's are really clean and some so bag marked they look like they have been "antiqued" with a chain. So far I only bid on the ones that look clean with minimal marks. But all things being equal are some 64's worth more than others due to the presence of bag marks, or lack of hem? 3. Some 64's look to be struck better than others. Maybe the die was old, or too far apart, and others were perfect. So again, using the criteria above, would you pay more for a better strike coin? I haven't started on VAM's or anything yet just trying to make the MS-64 collection the best I can without paying more than they would reasonably bring in a resale |
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Valued Member
United States
291 Posts |
As a long-time buyer and seller of graded pieces (not only coins but other hobbies as well), it's going to come down to appearance. Based on experience, harsher graded pieces should and do sell at a premium to more leniently graded pieces in the same grade class. That's why there's a price range when it comes coins and many other collectibles. I imagine a nicer-looking 64 would sell higher than a less attractive 64 whether it's due to a better strike, less bag marks, etc.
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Pillar of the Community
United States
4469 Posts |
On prices you need to use past relized prices from ebay sold, Coin facts PCGS or Coin Explorer NGC. PCGS is a retail price guide that is not always current. For example, Coin Facts will give the recent sales at ebay and the major auction houses. My personal favorite is Coin Explorer at NGC. If I am on ebay for convenience, I will use the ebay sold search function to check out the recent coins sold prices for the type, date and mint. |
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Bedrock of the Community
United States
12057 Posts |
A MS64 Morgan in a modern holder can look like anything from MS62 to MS66, so with plenty of supply, being choosy / picky and picking only the absolute sharpest looking 64's will be the way to go, such as the CAC certified coins.
Member ANA - EAC - TNA - SSDC - CCT #890 "Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis |
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Pillar of the Community
United States
4469 Posts |
To expand on Paralyse's comment, I am going to give a tip that I wish someone would have given me when I first started collecting Morgan's. I would recommend that you start with buying two Morgan's that you like from the following dates 79s, 80s, 81s or 82s in the MS 64 grade that have a green CAC sticker. Study the two coins with the CAC stickers, then, try to buy none sticker MS 64 coins that are equal in marks, luster, eye appeal and strike to your sticker coins. What it will teach you is how to buy coins that are strong for the grade, but it will not be easy finding quality coins at the price point that you want to pay.
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Bedrock of the Community
United States
12057 Posts |
There are several dates I wish I could afford in MS-64 :P
Member ANA - EAC - TNA - SSDC - CCT #890 "Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis |
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Pillar of the Community
 United States
533 Posts |
Slider23 thanks for the advice and I will take it. If I need to raise my price point a little to get better coins I will.
It seems with Morgans there are a number of investors that simply buy the grade and holder and don't look so much at the coin. I am trying to find the best coins I can in the grade
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Valued Member
United States
291 Posts |
I have a habit of buying pieces that are strong for their grade (could easily be a grade higher), so I agree with others that it's the way to go if the price is right.
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Pillar of the Community
United States
1450 Posts |
There are probably 30-40 Morgans you can buy for less than $100 in MS64. After you have bought these coins it gets much more expensive to even buy the coins in AU condition. I have 68 Morgans. The ones I have left to collect all cost way more than $100 in MS60 much less MS64. I think it is unrealistic for beginning collectors to try and fill a Morgan set with MS64 coins. An 1884-S in MS64 is valued at about $115,000 and that is not even a rare Morgan. There are a hoard of other Morgans that will cost five figures in MS64. An 1893-S in MS64 costs about $350,000. If I were going to try and just buy the common Morgans I would try and get them in MS65. It is still going to really cost you. If you buy them online you should buy them slabbed and graded. I don't believe you can tell what grade a coin is just from a photo. There are just so many different ways to collect coins that you can take your pick, but I think it is best to be consistent. I collect date/mint sets, so I am often frustrated because each set usually has a couple of coins that are rare and worth more than all the rest combined.
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Pillar of the Community
United States
4469 Posts |
Quote:
Unless I can definitely tell the difference between a 64 and a 65, and I can't, is it worth a premium for the old holder? A lot of the old holders with coins that could upgrade have been cracked out and upgraded, but there are still high quality coins that can be found in the Rattler, OGH or Fatty holders. If the coin is quality in the holder, you will most likely need to pay a premium for the old holder. You can not just buy the old holder because there are some coins below grade in the older holders. Below is a MS 64 Morgan in a Rattler holder with a CAC sticker that the seller is asking a premium for the holder and sticker. This coin looks like it could upgrade to MS65 and re-sticker. Once you paid the premium on the coin there is not enough margin to have the coin upgraded unless it went to MS66. If I owned the coin, I would not crack it out anyway because I would like to keep it in the old holder.   |
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Pillar of the Community
United States
533 Posts |
Terry8835
I collect MS-64's that sell for under $100. Not date/mint but just the best MS-64 I can find for the common coins like 1881-S, etc.
I am also doing a Morgan date/mint set that is the best coin I find for each for under $500. That includes quite a few 66's, 65's and 64's, but for the rare ones I had to raise the limit to the cheapest example which will be really low grade and still expect to pay $1,500 or more. Fortunately there aren't that many of those (like the 1893-S which is a couple grand in almost worn completely away grade). At this I still expect it will run me $45,000 to $50,000 for the set.
Since I can't afford to do the best coin available of each type I m doing the best available within a budget limit per coin
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Bedrock of the Community
United States
94367 Posts |
Slider - that is a beautiful '83-O!
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Replies: 11 / Views: 1,463 |
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Posted 07/22/2016 11:01 pm
