EagleRJO

Wow, sounds like me with buying raw coins from ebay where it's kinda like a box of chocolates, where you never know what you are going to get. Good thing I get most of my raw coins from a larger dealer that is good at weeding thru questionable stuff and routinely under grades coins a little. 😉

I thought they were on a level playing field. Maybe why I notice a preference for higher valued coins. For me with virtually all raw coins if there is a mistake the guy in the mirror I'm pointing a finger at says "tough". 😜

Don't the TPGs guarantee the labels in the event of a mistake like that?

Do you mean like the attached that has an indian with a large headdress? I would just call them $10 indians, or $10 Indian Head Eagles like in the RB and listings. Haven't heard them referred to as $10 saints. Unless it's something else and maybe you could post a pic. P.S. Wished I lived by you, where common saints are going for melt.

I think the TPG's spend less than 5 seconds for each coin (other than maybe pre-screening and a finalizer), so the errors don't sound surprising to me. Someone may have submitted it as a R38 and they said "yea ... sure".

I was switching over to looking at the $5 Indian Head Half Eagle again, mostly because I like the way they look with the incuse design and would like to add a few to the collection. There always seems to be decent demand for those with the popular design, but prices may have come down a little since I was last looking. On the $20 Saints I had been looking for some common date BU ones a little above spot as suggested by someone, but that just doesn't seem to be what they are going for except for maybe an anomaly. For just a gold bullion coin I like the more modern design and strike anyway, with a few exceptions like the roosters. Not sure what you mean by $10 saints ... maybe a typo, and it's $10 indian heads?

Doesn't Coin Vault do mostly infomercials where you would expect there to be a bigger mark-up?

I hit a few. But then I liked the coins so much I kept them.

Looks like there is still a decent demand for Morgans, which seems to be dropping off lately. There are also still nutty prices for other coins such as Saints, so I am switching gears there to look for other ones like half eagles, roosters, etc. which I also like.

@J P Myou are correct, many of the prices in the NGC guide have not been updated recently. I think part of that was the huge jump in coin prices going into the end of last year and continuing thru earlier this year, which NGC prolly thought was an unusual price rise which it was. PCG$ jacked their guide prices, with there being some significant differences. Many coins are coming back down, and I am starting to see the PCG$ guide prices adjusted down while NGC prices are just holding steady. I think there will be a little more of that same pattern as prices continue to drop until NGC might jump in to drop some prices too.

Yea, I bailed on buying on eBay a while ago because all the ask prices for NGC and PCG$ coins were apparently based on what coins were going for at the peaks of the spike earlier this year. If you look at when they were listed most are stale.

@GreenstangThanks for sharing. I don't collect cents, but I still find stuff like the chart you posted interesting. There are a very limited number of years with varieties, with that data not scattered. To me that would suggest there are particular reasons for that grouped data such as changes to the coin alloys, die making process, machines being used, etc. Did any of that occur to explain the grouped varieties?

I'm bidding a lot of coins on GC lately and will keep my eyes open for more of the beaned NGCs, which I usually ignore, and see how they shake out. Also, from the coins I have been bidding on (Morgans, older half dollars, gold coins, etc.) it seems like the ones that get bid up a good amount more than my target prices are the PCG$ coins where there is a decent gap between the PCG$ and NGC guide prices, even if sold coins don't have that much of a gap. So it looks like some just bid based on guides, which has been my bane lately.

Yea, makes sense to me also. If it was submerged in an acid it would cause some erosion/damage to the outer layer, but more erosion/damage to the core. Prolly a HS or CH101 chemistry "experiment".

Idk, I think ppl have pretty much wiped their covid slush funds by now and prices, at least for NGCs, have been a lot more reasonable which is why I have been hitting up the GC Morgans a lot lately.

It looks like an OREO cookie.

Yea, quite a lot of them because of the huge price spike earlier this year. PCG$ jacked guide prices like April/May at the peak of the spike, while NGC held off maybe thinking is was just an unusual spike which it was. NGC prices have been pretty much holding, but not on this one which I thought was because of the bean. May have been the VAM like you mentioned. I was thinking about a few crossovers which would straight grade over, but PCG$ is finally waking up and dropping prices so you could get burned.

I guess ppl could also be looking at the sold PCG$ ones Simple Collector pointed out, even though some of the jacked PCG$ ones haven't really been carrying over to the NGC ones I have been bidding on.

Yea I know, PCG$ ones where their guide prices for those are jacked up from earlier this year. I try to stick with the NGC slabs like the one posted because of that.

I didn't see any recent NGC auctioned ones in that grade recently (PCG$ have been nvts lately with the guide prices, incl those ~$600 ones), but I have been bidding quite a number of Morgans recently and the NGC price guides have been pretty spot on, which is why that one jumped out. You may be right about the possible unattributed VAM which I really didn't look at, but would make sense.

@Simple Collectorthose are both PCG$ ones where their price guides are complete wacked because PCG$ jacked up values at the huge price spike earlier this year and they haven't come down since.

What I want to know is what is an "Error Pennis" as stated in the title of this thread.

No, that's wrong. Where did you get that from? However, misconceptions like that just based on rumors and innuendo could lead to a slick scam artist possibly taking advantage of an uninformed collector as I mentioned for the Carr 1964 Morgan, and one of the reasons I think it's a really borderline overstrike. Would the "average collector" know to do some checking and find out there was no 1964 Morgans struck? ... "that detective, is the right question ... program terminated". [Source for my info: "A Guide Book of Morgan Silver Dollars" by Q David Bowers, 6th Edition, pgs 270-278. Bowers is very respected and a well-known expert on Morgans. He was present at the US mint doing research on Morgans when the master hubs for the 1964 mentioned were discovered, and when they searched the mint for any working dies which were not found, nor there being any record of even test strikes.]

I know that some have the mistaken belief that a green bean always means a higher grade, which is why I just skip over them. But this one just didn't make any sense. Not only is there no shot at the next grade due to obvious wear, even if it did grade a little higher and just slide into an AU it wouldn't be worth what's being bid! NVTS!

I was surfing for some Morgans being auctioned on the GC site and came across one with a "green bean" that I usually just skip right over but happened to notice some crazy bidding. It's an 1893 (P) Morgan Silver Dollar graded XF-45 by NGC with a green CAC sticker. The NGC cert for that specific coin lists the NGC Price Guide Value as $300 (see attached). But the current bid for that coin is now at $505, and the auction doesn't end until tomorrow night! Sometimes the bean might mean the coin is under-graded, and could get a grade and price bump, but there is no way that's happening. A middle grade AU would be around $450, but even then, there is no way it would grade out as an AU coin. There is wear of the hair on the obverse as well as wear of the eagle's breast and talons on the reverse. It's just nuts ... N_V_T_S ... nuts! What is going on here?