Morgan Gurus To Check My First Purchases?

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Author	Replies: 14 / Views: 1,347
ratio411 Pillar of the Community United States 1208 Posts	Posted 03/30/2008 4:36 pm Hey, I have collected coins of every kind, but no kind in general... All my life. I have decided to start picking up some slabbed Morgans. I pick coins based on what my own eyes find attractive. I also picked some slabs that were obviously overgraded, but the money was at or below the grade I supposed, and eye appeal was there. Anyway, here are the first Morgans I have ever bought in my life... What do the gurus think? (click pics to enlarge) 1: The 85-O...$36 Not familiar with the grader. IMO it was correctly graded. The pics don't do the toning justice! The obverse is a bit blotchy on toning, but the rev is evenly faded from center and just gorgeous! 2: The 03-S...$63 The coin actually looks quite a bit better in person. For a moment I felt it might be slightly undergraded, but not sure. The details are much better in person. I don't know if I should chance trying to get an "F-12" on it. 3: The 79-S...$52 Never heard of the grader... Obviously way overgraded too. I wouldn't think less than 63/64 though. The breast feathers are all there, but a bit shiney (light). This coin looks at least as good in person. I felt like the cheeks were a bit baggy, but also found eye appeal. 4: The 82-S...$53 There's that grading company again! But like the first, I think grading is dead on. If they aren't a well known grader, they still do a good job so far. This one looks better than in the pics. Common coin, but hey, I'm just starting and it has great eye appeal. *5: The 81-S...$53 Never heard of this grader. ? I also think this one overgraded, at least the "PL" part! The "65" very well could be on. The rev is solid, hard struck, and mark free. The obverse is better than most, especially light on the dreaded bag marks. I just don't see any proof-like character. Alright, do you or don't you agree with my summarys of each? I am trying to learn about Morgans and would like to see if my judgement is clear! Dave Report this Post to the Staff

dom Valued Member United States 265 Posts	Posted 03/30/2008 5:01 pm Congrats on your Morgans....I agree, buy the coin not the slab, as you may already know. I have to admit that the coins from NNC look accurate as best as I can tell from the photos. Numistrust is or was probably a third tier TPG as is NNC, but I haven't heard about alot of activity or good things about them.I have heard some people very happy and some not w/ NNC purchases through ebay, very inconsistent. I don't know anything about the other grading company. As you may or may not know, I would be very wary of these GRading companies that are not the top 3: PCGS, NGC, or ANACS and even ICG. It is not uncommon that these third tier TPG's slab coins even though they have been improperly cleaned, fixed or altered ..But I love my Morgans too. ANACS will slab them but will identify the problem on the label Report this Post to the Staff
Bryan1315 Bedrock of the Community United States 14454 Posts	Posted 03/30/2008 5:11 pm NTC has nice slabs but I have seen problem coins and cointerfeit coins in their slabs that they missed, NNC is sold by one person on ebay centless (I think is his name) and if they come from someone else it is because they bought from this seller, the other grading companies (except for PCGS) I have never heard of. I have bought some NNC slabbed coins myself but it was usually because of the specific VAM that was in the plastic and never what it was graded but some have been pretty close and it seems yours are pretty close as well from them, the NTC is highly overgraded as you said but as long as you are happy with the coins I say you did a pretty good job on the buying you did for the money you spent Report this Post to the Staff
ratio411 Pillar of the Community United States 1208 Posts	Posted 03/30/2008 5:21 pm Would PCGS be influenced at all if I sent these in for grading in the slabs as they are now? I don't mean influenced, as in better for me, but rather influenced as in more likely to give a lower grade... Just because the competition graded high. I don't like the idea of removing them from the cases to send them to PCGS is why I ask. I would rather send them in just like the are, and get an impartial grading. Not the 03-S of course. I don't have any plans to regrade it, unless someone who really knew PCGS prodded me to. Report this Post to the Staff
SsuperDdave Moderator United States 23522 Posts	Posted 03/30/2008 6:53 pm You, sir, already have the basic knowledge and attitude to successfully shop for coins in third-world slabs. I think the '85-O is toning after an older dipping, but it shows very nicely. The '81-S might be the "worst" of your purchases, but I don't believe you got taken on any of them. Do not send any of them to PCGS without cracking them. They may say that they're indifferent, but I wouldn't risk it myself. Report this Post to the Staff
dom Valued Member United States 265 Posts	Posted 03/30/2008 7:01 pm I don't know if "influenced" is the right word. But PCGS is clearly got to be , IMO, the most conservative grader. An ANACS or NGC MS64 would be a PCGS MS63. I also have to believe in speaking with dealers at coin shows that if you have a coin that is bordering between two grades and even more so if there is a big difference in the price between two grades, PCGS will grade lower. Report this Post to the Staff
joeb907 Valued Member United States 56 Posts	Posted 03/30/2008 7:05 pm im a bit jealous, hah. I had some luck at yard sales though. Report this Post to the Staff
ratio411 Pillar of the Community United States 1208 Posts	Posted 03/30/2008 7:06 pm You may just be right on the 85-O... I suppose the good thing is that the only thing that could have been cleaned off the coin was previous toning. The strike seems pretty sharp for what I have been hearing about New Orleans dollars. It's not scratched or baggy either. So, I might just leave that one as-is. I don't want to risk paying for a red label! I might agree with you on the 81, but that thing is so sharp and virtually mark free, especially on the rev... It's at least a high 64. I just can't see where they came up with PL. ? There is no PL about it IMO. Thank you ALL for your insights. I am starting to gain confidence. Sometimes you know just enough about a subject to get yourself in trouble! I think I am in that area right now, so I am trying to be cautious and informed. THANKS! Dave Report this Post to the Staff
ratio411 Pillar of the Community United States 1208 Posts	Posted 03/30/2008 7:14 pm dom: Good to know about PCGS. I have had most exposure to them, like their holders, and I suppose the conservative grading makes them desireable to folks that have had influence on me over the years. The 03-S might be a good candidate to send to ANACS then... What about NGC? They are the ones I would have called my 2nd choice. Not for any reason other than I don't care for the looks of the ANACS holder! I remember when IGC (is that right?) came out. They were considered a good way to go for cheap slabbing, but not highly regarded when you tried get the best money when selling. I see they are still around. Report this Post to the Staff
ratio411 Pillar of the Community United States 1208 Posts	Posted 03/30/2008 7:22 pm SuperDave: Looking at the coins in person, and hindsight being 20/20, I feel like the 79-S was my "worst" deal. The thing is a common date, SF was known for high quality coins, and the really off the wall grader are all small concerns when looking at this one. But the biggest thing is that it is pretty baggy, compared to the others. I think I could have found a cleaner coin for about the same dough. Your thoughts? Oh, and the soft feathers on the rev... Edit: Don't get me wrong! I am not arguing with the more experienced... I am just having fun comparing notes! I don't regret any purchase, or question anyone's opinion. I just like the conversation. Edited by ratio411 03/30/2008 7:24 pm Report this Post to the Staff
joeb907 Valued Member United States 56 Posts	Posted 03/30/2008 7:27 pm do you guys think that 15 dollars per circulated morgan, common date ones, is a good deal from a garage sale? Report this Post to the Staff
dom Valued Member United States 265 Posts	Posted 03/30/2008 7:36 pm Just my opinion....I believe ANACS to be quite respectable. I also believe their grading to be quite accurate. I think recently NGC has been slipping a bit. I would keep your '03-s in the PCGS holder.I still would have to say PCGS is the most respected holder. It is probably worth about a $100. Even if it would grade at F12 by ANACS which would raise the price to about $130-140, you would still pay about 20 bucks to get it graded and the registered postage both ways. Report this Post to the Staff
Jaobler Pillar of the Community United States 6381 Posts	Posted 03/30/2008 7:44 pm Hi Ratio, I like the '85-O as an MS-64 and the strike is very good. The '03-S appears fairly graded as VG and is already in a PCGS slab, so I'd leave it alone. The '79-S is overgraded and a bit baggy; it probably deserves an MS-63. The '82-S looks OK as MS-64; the only "problem" I see is that the breast feathers look a bit soft. It could just be the photo but this date normally has a full strike, so weak feathers would mean the strike is below-average. The '81-S is the least impressive in this group and I agree there is nothing prooflike about it. The obverse looks processed somehow. I think this might be one of those "altered surface" coins that PCGS is always putting in bodybags. Overall it looks like you did quite well and you got a lot of coin for your money. Congrats! Report this Post to the Staff
ratio411 Pillar of the Community United States 1208 Posts	Posted 03/30/2008 7:45 pm quote: do you guys think that 15 dollars per circulated morgan, common date ones, is a good deal from a garage sale? Sounds fair to me, unless they are just about smooth. With silver at $17+ and the Morgans having numismatic value built in, it's definately fair IMO. Report this Post to the Staff
MorganNoob Pillar of the Community United States 533 Posts	Posted 04/02/2008 4:59 pm quote: do you guys think that 15 dollars per circulated morgan, common date ones, is a good deal from a garage sale? I would buy every common morgan I could at $15, in XF or better condition that is. I don't mind G or VG coins, but from watching ebay I have noticed that they don't sell as well, especially very common dates. Buying them would be more of a silver speculation play IMO. To the OP, you are already way ahead of me and my first Morgan purchase. Hang around and enjoy the forum, and soon you will relize that you are miles ahead of most newbies. Report this Post to the Staff
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