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Did I Get Burned?

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New Member
chumrobarge's Avatar
United States
4 Posts
 Posted 03/09/2006  3:28 pm Show Profile   Bookmark this topic Add chumrobarge to your friends list Get a Link to this Message Number of Subscribers
Hello everyone! I'm a new guy here at the coin community. I've been dipping my toes into coin collecting lately. I'm finding it to be very addicting.
My question is, did I get burned on this coin?
It is an 1882-CC Morgan graded a MS-66 from NNC. Now I know that this company doesn't garuntee anything, but I thought that the sellers rating was pretty high and I might be able to trust him.
I dropped 400 on this coin, was that too much? IS it MS-66 or at least slide for MS-65? For that much I think he could have used larger pictures but...

help me out people! I'm new...
Forum Kid
thekidcollector's Avatar
Kuwait
1523 Posts
 Posted 03/09/2006  3:46 pm  Show Profile   Bookmark this reply Add thekidcollector to your friends list Get a Link to this Reply
Welcome.....
I'm not a Morgan Expert but there ate TONS of Morgan experts here!

Enjoy the community!

TKC!
Valued Member
dgoose50's Avatar
United States
79 Posts
 Posted 03/09/2006  4:01 pm  Show Profile   Bookmark this reply Add dgoose50 to your friends list Get a Link to this Reply
No you didn't get hurt on that coin as it goes at $405 bid in MS 65:BID is$1380 in ms66!I think it might cross over to MS65 in NGC slab as it is a nice clean coin. If it were to come back at MS64 would be your worst nightmare.With out eyeballing the coin it is hard to tell.
New Member
chumrobarge's Avatar
United States
4 Posts
 Posted 03/09/2006  4:05 pm  Show Profile   Bookmark this reply Add chumrobarge to your friends list Get a Link to this Reply
I'll get some pics up when I can, ill try in the us coin forum also... this is exciting, cant wait to see what comes of this?
What do you think of NNC? ever had any problems?
Valued Member
dgoose50's Avatar
United States
79 Posts
 Posted 03/09/2006  5:33 pm  Show Profile   Bookmark this reply Add dgoose50 to your friends list Get a Link to this Reply
I never buy coins from NNc without looking at them first and forming my own opinion.I have bought Morgans sight unseen in MS 63 and 64 slabbed NGC and PCGS. MS 65 and better are too costly for me to chance it,but NNC is not a recognized accurate service in my opinion.
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SsuperDdave's Avatar
United States
23522 Posts
 Posted 03/09/2006  6:12 pm  Show Profile   Bookmark this reply Add SsuperDdave to your friends list Get a Link to this Reply
Welcome to the forum. You've stumbled upon a pretty good place to talk coins.

The only NNC coin I ever bought was slabbed MS64 and would have bodybagged for post-mint damage (scratches) by the real TPG's, not to mention it wasn't even MS. It was a VAM I wanted, though, and the price was right. So, my empirical data says NNC isn't to be trusted.

In all honesty, I'd have steered clear of an "MS66" coin shown with such tiny photographs. Not to mention, you have no recourse for return with this auction - you're stuck with what you bought and the seller would win arbitration even if the coin looked like stuff in the holder. If that coin does not grade an honest MS65, you've thrown away a fair amount of money.

Best-case scenario is, they were at least close with this one and your investment is solid. Worst-case scenario is, you've just learned a lesson that many among us learned in equally difficult fashion at one point or another, and it'll be the single best thing you'll ever learn about coin collecting - caveat emptor.
Rest in Peace
Morgan Fred's Avatar
United States
2684 Posts
 Posted 03/09/2006  9:14 pm  Show Profile   Bookmark this reply Add Morgan Fred to your friends list Get a Link to this Reply
The images are too small to make any determination (they also look like they may have been retouched) and this might or might not have been intentional, but knowing NNC's poor reputation and having bought a few on speculation (one was off by 11 grades, from MS-67 down to XF-45; another "MS-65" was cleaned), it should be axiomatic to drop at least three or four grades off whatever it says on an NNC slab. I own a PCGS MS-66 1882CC and there is no doubt that it is a spectacular coin, but there is no way that an NNC MS-66 even approaches a PCGS, NGC, or ANACS MS-66 in quality. Of course, the only means to be certain are (1) Take a look at the coin and grade it yourself once in hand; and (2) Submit it to a top-tiered third party grading service for more definitive grading; you might get lucky. Further and in summary, given the seller's no-return policy on "certified and graded" coins and in view of NNC's terrible reputation, I'd have to conclude you got ripped. I suppose the bright side is that it wasn't a coin for which you paid thousands.

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