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1894-O Morgan Dollar, For Grading

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Blind Squirrel's Avatar
United States
220 Posts
 Posted 04/14/2022  11:24 pm  Show Profile   Bookmark this reply Add Blind Squirrel to your friends list Get a Link to this Reply


Great pic

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dave700x's Avatar
United States
10625 Posts
 Posted 04/15/2022  08:28 am  Show Profile   Bookmark this reply Add dave700x to your friends list Get a Link to this Reply
The coin shop you picked this up from either lost a ton of money on this one - or - someone sold a collection without any idea of the value and the shop owner was too lazy to inspect and put a fair value on this and probably other coins in this group.
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panzaldi's Avatar
United States
18702 Posts
 Posted 04/15/2022  09:25 am  Show Profile   Bookmark this reply Add panzaldi to your friends list Get a Link to this Reply
we typically see weak strike for this year. I think the strike on this one is better than average. I'm not seeing luster break anywhere. obviously the cheek on this one is going to determine where it lies on the scale. since the majority of the marks/chatter are on the cheek the eye appeal is also affected. I think surface preservation is better than 63. so I'm coming in around MS63+ or even MS64 on this one

i have no idea how you snagged this one for that price. this coin has been going up all year and even at 63 you're talking over $4000 or more and there is no way imo that its grading less than that

this coin should be slabbed imo
Edited by panzaldi
04/15/2022 09:28 am
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fenton's Avatar
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4989 Posts
 Posted 04/15/2022  6:37 pm  Show Profile   Bookmark this reply Add fenton to your friends list Get a Link to this Reply
MS-63+. Hard to believe any coin shop would make that mistake.
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KYCopperCoins's Avatar
United States
1361 Posts
 Posted 04/15/2022  7:14 pm  Show Profile   Bookmark this reply Add KYCopperCoins to your friends list Get a Link to this Reply
I'd have corrected the mistake but he said he'd just paid 50 each for the stack of 10 coins... he was really busy that day and had just got the coins off of a customer, so I assume he just rushed the buy and since he was busy when I was there also the sale...he said most were O mm is all he said and around ms64ish. Regardless, I'll chalk it up as a win. If he hadn't told me what he paid, I'd have gone back and corrected it,
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smalldawg59's Avatar
United States
484 Posts
 Posted 04/18/2022  8:19 pm  Show Profile   Bookmark this reply Add smalldawg59 to your friends list Get a Link to this Reply
What do you mean "missed the MM?" The guy missed the entire coin as all three 94's are big $$ in that condition.

You said, "I'd have corrected the mistake but he said he'd just paid 50 each for the stack of 10 coins." So because the dealer apparently screwed the previous seller, you thought you would return the favor and stick it to him? I dunno KY. Seems like you stand to gain a wind fall from someone else's misfortune. How is this different from a dealer messing with a kid who comes into the shop with his grandfather's cigar box of old Morgans, and offers him 5c on the dollar. We talk a lot about shady coin dealers being bad for the bidness, but that cuts both ways. I would do the right thing.
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KYCopperCoins's Avatar
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1361 Posts
 Posted 04/18/2022  8:44 pm  Show Profile   Bookmark this reply Add KYCopperCoins to your friends list Get a Link to this Reply
I normally don't even buy morgans, and didn't know the date was so high till I even got home an hour away, sorry I'm such a shady buyer. How is it any different than someone cherrypicking a variety? I'm sure you'd point out a 44d/s Lincoln Cent if it were a possible top pop being sold as a 44d unattributed? Or a high dollar VAM morgan? Regardless, both are oversight on the sellers part for not studying the coins being sold. First off, he underpaid for the coins due to his laziness, and under priced them due to the same, and somehow he should be rewarded for it? He was happy with the transaction just like most dealers who price it based on what they pay for the coins.

My bad I don't do morgans and didn't realize all 3 are high dollar.

How did I stick it to him? He made a 20 percent profit in a couple hours on a stack of coins he obviously didn't care to even look through and I'm the bad guy?

So what would make me a good guy? Every time someone sells something cheap, offer them retail? Who in this business isn't always looking for a good deal? Or a cherrypick as we all call them? You seriously are out of line in my personal opinion, and I take offense.

If I were to make a mistake and were even told about it, it wouldn't make me mad, nor would I allow them to correct it personally. A deal is a deal, it isn't like he totally paid big bucks and sold the wrong coin or anything like that. All parties were happy with the transaction, like all cherrypick scenarios play out, but one party is just on the better end of the deal.


Am I wrong?
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Ty2020b's Avatar
United States
4680 Posts
 Posted 04/18/2022  9:06 pm  Show Profile   Bookmark this reply Add Ty2020b to your friends list Get a Link to this Reply
With you 100% buddy.

I view this as completely different than a dealer (someone who should have the knowledge and experience) taking advantage of an unknowing customer. It was obviously an oversight of sorts (accidental?, laziness?, ignorance?) , but said dealer had not one, but two chances to correct their "mistake". I view this the same way I would view cherry-picking a variety or catching an undergraded coin for a profit. Or buying an undervalued lot or single coin from poor images?

We will never know if the dealer's error was out of laziness, ignorance, or an oversight. If the value to purchase price was smaller would it make it any more right? At what ratio is it acceptable?
Edited by Ty2020b
04/18/2022 9:08 pm
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dave700x's Avatar
United States
10625 Posts
 Posted 04/18/2022  9:10 pm  Show Profile   Bookmark this reply Add dave700x to your friends list Get a Link to this Reply

Quote:
Am I wrong?


Not you but the dealer certainly is/ was.
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smalldawg59's Avatar
United States
484 Posts
 Posted 04/18/2022  9:16 pm  Show Profile   Bookmark this reply Add smalldawg59 to your friends list Get a Link to this Reply
Yeah I think you are wrong. A good deal? You think it is OK, cool, right or justified to pay $60 for a $2500 coin and its OK because the seller made 20%. You should do the right thing.
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jacrispies's Avatar
United States
3848 Posts
 Posted 04/18/2022  9:45 pm  Show Profile   Bookmark this reply Add jacrispies to your friends list Get a Link to this Reply
KYCopperCoins is in the right here. The dealer confidently named his own price, and it was fair game.

It is the same with cherrypicking, some people have a high dollar coin, but knowingly sell it as a type coin because research takes time and time is money. This dealer saw a higher grade morgan, bought it as a type coin, and sold it to someone who was knowledgeable enough to recognize the value. If I found a 1794 starred reverse large cent, going back to the dealer to give him tens of thousands of dollars is the last thing I will do.
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Ty2020b's Avatar
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4680 Posts
 Posted 04/18/2022  10:30 pm  Show Profile   Bookmark this reply Add Ty2020b to your friends list Get a Link to this Reply
@smalldawg, curious what your thoughts are on the other questions mentioned above. Is cherry-picking ok? Is buying undergraded coins for a profit ok? Is making a 10X profit on lot/coin with poor quality images ok? What amount of profit is acceptable? Are the lot of us that cherrypick varieties and undervalued coins supposed to notify the seller of every oversight?

If so, I'll have to give up half my collection.
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JasonKflo's Avatar
United States
1694 Posts
 Posted 04/18/2022  10:41 pm  Show Profile   Bookmark this reply Add JasonKflo to your friends list Get a Link to this Reply
I am sure no one who got a 2019 S Reverse proof from the mint sold it for 20% over their purchase price.
Id be thrilled with the deal you got.
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United States
2342 Posts
 Posted 04/19/2022  04:55 am  Show Profile   Bookmark this reply Add smat45 to your friends list Get a Link to this Reply

Quote:
A deal is a deal


It's not like he said $70 a piece and you offered $60.

I wouldn't lose any sleep over this...

smat
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TobyJ's Avatar
United Kingdom
1273 Posts
 Posted 04/19/2022  06:53 am  Show Profile   Bookmark this reply Add TobyJ to your friends list Get a Link to this Reply
You have done nothing wrong whatsoever. This is how the world works. Collecting coins is such a fun hobby because of finding bargains. I have had multi thousand profit bargains from auctionhouses, here in England, but I don't feel sorry for the auctionhouse, it is entirely on them to check what they are seling and if they don't then tough luck. The world is a harsh place and everything is only getting more expensive. Good on you for getting a bargain! Get it slabbed!
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