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 Replies: 10 / Views: 1,588 |
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New Member
United States
9 Posts |
Hello Everyone! This is my fist post to this site. So I hope that I am doing this right. What I need is any information on a coin that I have recently purchased. This coin is an 1887-O Morgan MS-67. What has happened is this... The grading company is ENGS not PCGS and I was wondering what my coin is worth. We are new at trying to sell our coins and still learning things about coins. I had offered my coin to a wonderful coin dealer, but when he found out that the coin was not PCGS he could not purchase it. Can someone please provide me with some direction and information on this coin. Thanks so much for anything. I would put a picture of it on here but I am still trying to figure that out. Edited by Metalman
05/02/2006 12:06 pm
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Pillar of the Community
United States
7123 Posts |
Hi Jennifer8
Welcome to the forum !!!
I have moved your question to the main coin forum,, where more folks will get a look at it !!
Best that I can tell you with out pics, is that the grading company that has slabbed this coin is a non tiered grading company,, or not a company at all !!
The coin may or may not grade what is listed on the label of the slab cant tell that with out a pic, but its a pretty good bet that the coin is graded as much as 5 or 6 points higher than actual grade.
Please post a pic, If you need help let us know ,,we will find a way to get your pics posted !!
Rick
Edited by Metalman
05/02/2006 2:58 pm
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New Member
 United States
9 Posts |
Thanks for the information. I have the picture of the coin, and it is a JPEG and I tried to load here, but it would not load the site said there was problem? How do get your picture on here?
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Pillar of the Community
United States
7123 Posts |
Hi Jennifer8
Probly the most common problem is file size,, it must be below 100KB to load to the forum,, JPG is an acceptable file format.
if you can crop the photo to just the coin ,and then check your file size if it is still over 100kb and you cant make it smaller, let me know I will send you my email address ,you can email me the pic and I will size it down for you and post it.
Rick
Edited by Metalman
05/02/2006 3:01 pm
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New Member
United States
9 Posts |
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New Member
United States
9 Posts |
Well not exactly what I had in mind, but I would gladly email you better picture.  |
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Pillar of the Community
United States
7123 Posts |
Hi Jennifer Link didnt work I will try again !!  Rick Edited by Metalman
05/02/2006 3:42 pm
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Pillar of the Community
United States
7123 Posts |
The pic didnt take real kindly to being enlarged,, we will need both views Obverse and Reverse ,,
Jennifer its time for me to go to work, If you want to email me pics I will work on them when I get home.
email is on the way with email link for me !!
Rick
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Valued Member
United States
411 Posts |
Hi Jenifer8. Welcome. Forgive me if I'm telling you stuff you already know. I found my way to this website with much the same problem.
I showed up here, just a wee lad, with what I thought was an extremely valuable coin in a holder from a company nobody'd ever heard of with the grade MS-67. I learned there are only a few reputable grading companies - and by reputable, I mean that the grades they generally assign to coins are respected by the marketplace - i.e., their holders ("slabs") bring more money if you're trying to sell the coin inside the holder. PCGS, NGC, ANACS, some would include a few others, produce the slabs of choice for investment collectors especially.
My experience was, I cracked my coin out of its MS-67 NNC holder and sent it into PCGS. They sent it back to me as so damaged as to be ungradeable (not from me cracking it out of the slab, but for more technical reasons). I thought I'd struck it rich when all I had was a curiosity. But here I am still, undiscouraged. I know it's a cliche, but it was a good lesson.
I'd say if you see any coin in a holder with a grade of MS-67, appraoch it with skepticism. For most issues, this is a very very high grade.
Edited by Stephen420
05/02/2006 7:00 pm
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Moderator
 United States
23522 Posts |
To expand slightly on Stephen420's accurate words, I would add that PCGS and NGC (I don't have access to ANACS' data, and in my opinion nobody else matters) have never graded an 1887-O Morgan as high as MS67. Knowing ANACS' rather conservative track record with Morgans, I would suspect they haven't either. It is what is called a conditionally rare coin, i.e., very few exist in the higher grades and therefore they have great value to discerning (and deep-pocketed) collectors.
An MS66 example of that coin, in a reputable holder, will sell for well over $10,000 to the first collector you offer it to. An MS67, if one is ever graded, will likely be a $50,000 coin.
Now, this is not to say that your Morgan is a dismal failure. It very likely is a Mint State coin, and even in MS64 it's worth $250. Although Stephen420's experience with an ungradable coin is not uncommon with the fly-by-night "grading companies," equally common are the lesser-grade coins being marketed as higher-grade.
The first thing a new collector must be aware of in this hobby is that there are many unscupulous "dealers" out there who will take your money by every trick they can. Although it has happened, it's a very difficult and drawn-out legal process to shut down a grading company for deceptive practices. Grading is purely subjective, and differing opinions as to grade are therefore very difficult to arbitrate with the force of law.
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New Member
United States
9 Posts |
I would like to say thanks to everyone for all your information and help on my Morgan. The coin should be here in a day or two. We are going to send the coin off and have it graded by PCGS and I will let everyone know what they say. Again, thanks for everything I love this site. I have learned so much. I haven't given up hope, I was pretty disappointed at first with this coin, but not so much anymore, I kick myself because I should have done homework on the issue before we purchased the coin  Thanks again everyone I'll keep you posted -Jennifer |
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Replies: 10 / Views: 1,588 |
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Posted 05/02/2006 12:20 pm
1887-O Morgan 3rd pic.jpg
