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 Replies: 21 / Views: 3,834 |
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Pillar of the Community
United States
3342 Posts |
I like well worn coins, especially from the branch mints. I recently added an AG3 1885-cc Morgan to the pile. What surprised me is that I could buy a GSA pack for the same money. A F-12 trades higher than an MS-63. If you can find a F-12 at all. But I didn't want a GSA coin. It's a modern anomaly that makes most of the cc Morgans common coins that trade on HSN. They should be priced in the range of Morgan common dates. My theory is that scarce (and highly desirable) circulated 1881, 1882, 1883, 1884 and 1885 cc's set the bottom price for the garden variety GSA coins. Especially the 1885 cc, which has low grade pricing similar to the non-GSA 1889-cc. Without them they would trade at $100, and ebay is loaded with thousands of them with no buyers. "Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
07/16/2022 1:26 pm
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Pillar of the Community
United States
3848 Posts |
Interesting thought. If lower grades were valued higher, then people would have CC's in their pockets all day long. Just no demand for lower grades. People always want premium higher grade coins.
Suffering from bust half fever. Want to learn how to attribute early half dollars by die variety? Click Here: http://goccf.com/t/434955Shoot me a PM if you are looking to sell bust halves. |
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Valued Member
United States
162 Posts |
Very interesting. The GSA's and treasury releases of the 60's really did affect the key dates and what was considered valuable changed considerably. for some dates circulated specimens are incredibly rare but no one wants them if they can get a nice bu coin easier.
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Moderator
 United States
15389 Posts |
Quote:
People always want premium higher grade coins. Quote:
for some dates circulated specimens are incredibly rare but no one wants them if they can get a nice bu coin easier. I take polite exception to both of these blanket statements. This is a small but dedicated collector base of low-ball purists who actively seek out honestly circulated coins with the same dedication and passion as those who seek the highest graded examples. A collector named Mike Hoyman completed the entire date/mint set of Morgan dollars in PCGS PO01. Does anyone think that was easy to do? Modify both of your statements to 'most people' instead of 'no-one' and I'll agree that the vast majority of collectors would prefer a BU example - but not all. |
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Pillar of the Community
United States
3848 Posts |
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Modify both of your statements to 'most people' instead of 'no-one' and I'll agree that the vast majority of collectors would prefer a BU example - but not all. I stand corrected. Most people always want premium higher grade coins. The percentage of people that prefer flat disks instead of crisp detail is considerably lower. Just trying to understand, why do lower grades (almost unrecognizable date/mint) appeal to these collectors? Does these dedicated collectors enjoy the hunt, or do they just want to be the best at something unusual? Quote:A collector named Mike Hoyman completed the entire date/mint set of Morgan dollars in PCGS PO01. I never heard of this, I'll have to look into it. Quite a feat! Just "thinking out loud" here, but I can't imagine this collection, sold as a whole, would come near the price as a nicer graded set of the same rarity. Don't get me wrong, I am not trying to hit down these collectors, they are extremely dedicated at searching for coins that are very difficult to come across. I am actually impressed by some of the collections amassed. Just trying to understand coin collecting from a different perspective. Suffering from bust half fever. Want to learn how to attribute early half dollars by die variety? Click Here: http://goccf.com/t/434955Shoot me a PM if you are looking to sell bust halves. |
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Pillar of the Community
United States
4468 Posts |
Quote:A collector named Mike Hoyman completed the entire date/mint set of Morgan dollars in PCGS PO01. Does anyone think that was easy to do? PCGS created the low ball registry set in 2007. Before the low ball registry set the PO1 was the lowest price graded coin. PCGS created the low ball registry set to sell plastic. I can not help but feel that the registry set low ball collectors have been duped into paying higher prices for the lowest grade. |
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Pillar of the Community
 United States
3342 Posts |
Slider23, I sought safety at AG-3 to avoid the race to the bottom. A straight-graded P-1 clocks in at $1500-2000. It takes a lot of passes through a slot machine to do this.
The 1885-CC used to be the scarcest regular issue Morgan because very few of the low mintage were released into circulation (ca 25,000). The GSA made it one of the commonest MS Morgans, with plenty available for the connoisseurs of shininess. There are 42 PCGS AG-3's - a pretty good survival rate due to the date's old-time rarity, and the crowning glory in the old blue Whitman albums. There are 132 MS-67's....
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
07/18/2022 11:52 am
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Valued Member
United States
152 Posts |
If lower grade 1885-CC Morgan's are expensive and priced not far under higher grades it makes no sense to buy one.
So there they sit,unpurchased!
I personally paid about $50 more dollars for a MS-64 instead of getting one in MS-63.Much higher they really start getting pricey.
Edited by FlyingTiger
07/18/2022 12:42 pm
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Pillar of the Community
United States
3342 Posts |
It's the MS coins that are sitting around unpurchased. The scarcity (and popularity) of the low grades creates a sustainable floor price for the GSA MS coins, which is far too high for their huge population. The 1885-CC is the worst example, but all the other 1880's GSA coins have the same problem. They're slow movers. Contrast CC gold, which is truly scarce and has skyrocketed in value over the last 20 years I've watched it.
Right now Northern Nevada has 27 1885-CC Morgans, only one of which is circulated.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
07/18/2022 1:48 pm
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Pillar of the Community
United States
3848 Posts |
CC's have been my fastest sales. Whether UNC, VF, or VG, there is an incredible customer base that is very active.
People are asking prices that are above retail for GSA's, and those are the ones sitting around. If you had a reasonable priced GSA, you'd most likely be able to sell it in a heartbeat.
CC gold has a fast growing customer base, and those coins are definitely harder to find.
Suffering from bust half fever. Want to learn how to attribute early half dollars by die variety? Click Here: http://goccf.com/t/434955Shoot me a PM if you are looking to sell bust halves. |
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Pillar of the Community
United States
3342 Posts |
The cc's I bought used to be collector coins. Now they're investment grade, especially the gold, and I can't afford them anymore.When there was only one VF-20 1882-CC half eagle and I bought it, nothing appeared immediately to replace it, and the next one that showed up was 50% higher in price. If you look at the low end cc gold on ebay right now, everything is details common dates. CC gold is not like the GSA Morgans, where there are plenty more available when one sells. I saw an MS65 1885-CC Morgan today for $700 OBO. . "Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
07/18/2022 4:02 pm
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Valued Member
United States
152 Posts |
Wow!$700 for MS-65 buy it now 1885-CC.
A month or two ago they were around the$1300.00 +++++range.Ones with a clean face could even be higher.
2 months ago I paid $1006.00 for a MS-64 and with tax and shipping almost $1100.00.
The most I ever paid for a coin.
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Pillar of the Community
United States
3848 Posts |
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I saw an MS65 1885-CC Morgan today for $700 OBO. I am still used to the $215 for common 82, 83, 84 GSA's and $450 for an 1885 CC GSA pre-covid. The price of those coins spiked, and I believe there is a slow, corrective trend that will bring GSA's back to a lower market price. Probably not what they used to be because of renewed collector interest, but certainly lower than $700. Suffering from bust half fever. Want to learn how to attribute early half dollars by die variety? Click Here: http://goccf.com/t/434955Shoot me a PM if you are looking to sell bust halves. |
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Pillar of the Community
United States
3342 Posts |
I could swear I saw an MS65 for that in a ANACS holder earlier today, but this PCGS MS64 for $700 OBO could have been it. https://www.ebay.com/itm/295095670509?LH_BIN=1I remember when an AU 1891-CC $10 eagle sold for $350....the good old days..... "Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
07/18/2022 7:20 pm
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Pillar of the Community
United States
3848 Posts |
Quote:
I remember when an AU 1891-CC $10 eagle sold for $350....the good old days..... I guess I missed out on the good old days. I probably wasn't even born yet.  Suffering from bust half fever. Want to learn how to attribute early half dollars by die variety? Click Here: http://goccf.com/t/434955Shoot me a PM if you are looking to sell bust halves. |
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Pillar of the Community
United States
1316 Posts |
My GSA 1882 was picked up from a dealer in the panhandle of N Florida in 2017. I was a Hurricane Irma evacuee at the time. I wandered into this older gentleman's shop because by the 10th day or so of being out, boredom starts to creep in. I traded some lower value type stuff for the CC, which has great luster for a 63/64 and a bold die clashed VAM, which is what primarily caught my eye. I the deal was ultimately two bored guys finding something to do. I think he'd been parked on those GSAs for a while and most anything seemed like it might sell quicker. I think we both were happy that day. I've watched the market on these jump during the COVID. I'm struggling to grasp how demand has outpaced supply for these to the extent it has driving up prices because they aren't lacking for supply. The scarcity that $300+ can get me with most anything else makes it hard to give most Morgans 2 seconds of thought these days. Edited by Collects82
07/19/2022 01:38 am
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Replies: 21 / Views: 3,834 |
Posted 07/16/2022 12:57 pm
