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 Replies: 15 / Views: 1,854 |
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Pillar of the Community
United States
1283 Posts |
1888 NGC MS63 "Star" Designation: $64.00 http://cgi.ebay.com/ws/eBayISAPI.dl...260523354170I like Morgans but I only have a couple of them. IMO they're beautiful, but I just see them everywhere so I've never been real big on them. I thought the toning on this one was pretty and I wanted to have an "NGC Star" coin for my collection. So I put a "what the heck" bid down and ended up getting it for 64 bucks. I know the 1888 is very common, but is this a good deal for a star designation? Truth be told I'm not very knowledgable on Morgans, but I grabbed this for less than I expected. |
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Bedrock of the Community
United States
10982 Posts |
I use Numismedia.com a lot for "Retail" pricing. http://numismedia.com/fmv/pricesms/...ices61.shtmlThey have an 1888 MS63 at $52. Greysheet "Ask" is $40. $64 is a touch high but not out of line. The * designation is a grader's opinion. If you like it then that's what's important. The reverse looks 64 to me with the obverse 62 because of excessive hits. The toning is attractive. You did okay. |
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Bedrock of the Community
United States
14454 Posts |
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$64 is a touch high but not out of line the star designation is for eye appeal which would be the reason for the premium |
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Bedrock of the Community
United States
12437 Posts |
I would pay MS64 money for that toning all day long  |
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Bedrock of the Community
United States
10982 Posts |
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...which would be the reason for the premium Not trying to be sarcastic but the reason for the "premium" was because it was bid up that high in an auction. Many people overbid auctions and win coins at a "premium" that weren't worth the price. $64 is the NGC MS64 Retail price. |
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Valued Member
United States
317 Posts |
I think you did ok. The toning is gorgeous, and I'd pay $64 for it.
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Bedrock of the Community
United States
14454 Posts |
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$64 is the NGC MS64 Retail price and 63* is about as close as you will get to a 64 and have eye appeal that the 64 may not have. The 63 is technical grade, the * is for eye appeal and lets face it a coin with great eye appeal will bring more money then a regular coin at the same grade so numismedia pricing doesn't really apply here. I am not arguing a coin is only worth what it will bring on any given day, I am just saying eye appeal has a major factor on what the coin brings more than even grade does and the pricing guide doesn't account for eye appeal, they only count for technical grade. I have seen MS-64 coins bring MS-65 money because they had Great eye appeal and bring that money consistently when brought to auction. Which one would you rather have, a 63 with great eye appeal or a washed out looking 64, I think most collectors would rather have the eye appeal over technical grade |
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Bedrock of the Community
United States
10982 Posts |
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The 63 is technical grade... Since when is 63 just the technical grade? The numeric grade incorporates eye appeal at MS 100% of time. If NGC decides to add a STAR because they think it has better than average eye appeal (for a 63) that's fine, but a 63 grade has "Rather Attractive" eye appeal in it already. I looked at the coin and saw a lot of hits in prime focal areas which would technically put it at 62 and I believe 62 is the appropriate grade for the obverse. The reverse brought this coin to 63 and the toning was a grader's opinion to give it a STAR. The OP question was "Is this a good price?". My opinion was $68 (shipped) for that coin is a bit high. And it is unless the toning is worth a twenty spot to you. It's not a lot of money but is on the high side and I'm sure the seller was very happy to get what he got out of it. |
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Bedrock of the Community
United States
14454 Posts |
not really, its the nicks and how many it has and where they are located that gives it the numeric grade, it has nothing to do with eye appeal. I have plenty of MS-64 coins that look allot better as far as eye appeal than some of my MS-66 Morgans but the hits keep it from the higher grade. just by the toning statement I can tell you don't follow the toned coin market very much because if you think nice looking toning doesn't command a premium you are mistaken. here is an example (if the seller was happy with the selling price then this seller was tickled pink) http://cgi.ebay.com/RAINBOW-TONED-1...63_W0QQitemZ150397644589QQcmdZViewItemQQptZCoins_US_Individual?hash=item230465ef2d Numismedia lists this as a 49.00 coin also another example is this Numismedia 144 dollar coin that sold for $516.59 http://cgi.ebay.com/1921-D-1-NGC-MS...an_W0QQitemZ250541614110QQcmdZViewItemQQptZCoins_US_Individual?hash=item3a5571a41e |
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Moderator
 United States
23731 Posts |
I think you did OK on the price. The coin has excellent eye appeal.
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Bedrock of the Community
United States
10982 Posts |
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it has nothing to do with eye appeal Okay - I guess I'm wrong. MS coins are not graded on eye appeal at all. In fact, eye appeal has never factored into any grade on any coin except those that have been graded by NGC since they started adding Stars to their holders. I guess that pretty much sums it up. |
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Pillar of the Community
 United States
1283 Posts |
Yikes, I didn't mean to cause an argument here. But grade vs. eye appeal is a very interesting topic, so at the risk of getting caught in the crossfire I'd like to add my own take. I just picked up the book on ANA Grading Standards to see what it had to say on the matter. Unfortunately the book is a bit ambiguous. Quote:
Page 24:
Beneath each grade designation is a commentary concerning certain aspects of that grade, namely Contact Marks, Harlines, Luster and Eye Appeal. At the end of each grade it description it gives an overall eye appeal rating. I have edited out all other attributes of the grade for all but MS63, since that is the grade of the coin in question. Quote:
MS70 - Eye Appeal: Outstanding
MS67-69 - Eye Appeal: Exceptional
MS66 - Eye Appeal: Above Average
MS65 - Eye Appeal: Very Pleasing
MS64 - Eye Appeal: Quite Attractive
MS63 - Mint Luster may be slightly impaired. Numerous small contact marks and a few scattered heavey marks maybe be seen. Small hairlines maybe visible without magnification. Several detracting scuff marks or defects may be present throughout the design or in the fields. The general quality is about average, but overall teh coin is rather attractive. Copper pieces maybe darkened or dull. Color should be designated.
Contact Marks: May have distracting marks in prime focal areas - Hairlines: May have a few scattered or a small patch - Luster: May be slightly impaired - Eye Appeal: Rather attractive.
MS62 - Eye Appeal: Generally Acceptable
MS61 - Eye Appeal: Unattractive
MS60 - Eye Appeal: Poor As I said before this all very ambiguous. I tend to interpret the "eye appeal" rating to be a minimum requirement for the grade. Here is what NGC says about their star designation. http://www.ngccoin.com/coingrading/...ignation.aspQuote:
Synopsis
The NGC Star Designation identifies coins with exceptional eye appeal or characteristics that distinguish them from other coins of the same technical grade. This does not mean that they just miss the next grade, but it can mean that they verge on the next designation. For example, an untoned PF 65* Cameo coin is not necessarily close to the PF 66 grade, but may be close to an Ultra Cameo designation. If you read further they elaborate quite a bit on these points. Also interesting, " It is also of note that Star Designations are applied only with the unanimous consent of NGC's graders. If there is a single objection to a particular coin receiving a Star Designation upon quality control inspection, it loses the star. " Also from the ANA Grading Standards book, Page 23: Quote:
A coin which has natural toning can be described as, "toned Uncirculated." Except in the instance of copper coins, the presence or absence of light toning does not negatively affect an Uncirculated coin's grade. Among silver and nickel coins, attractive natural toning often results in the coin bringing a premium. Edited by USArmyParatrooper
12/21/2009 12:46 pm
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Bedrock of the Community
United States
10982 Posts |
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Yikes, I didn't mean to cause an argument here. You didn't. I'm being somewhat childish and everybody is entitled to their opinion. I realize toned coins are very popular among their collector base and these people do pay large premiums for them. Bryan: I wasn't trying to get under your skin. You do a nice job as a moderator and I appreciate it.  |
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Rest in Peace
United States
5375 Posts |
Worth it IMO, I bought a very nice Morgan from him awhile ago.
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Pillar of the Community
Canada
1267 Posts |
For what you paid, I think you did just fine! |
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New Member
United States
24 Posts |
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Replies: 15 / Views: 1,854 |
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Posted 12/20/2009 9:59 pm
