Guess the Grade---1881-S Morgan Dollar

[TomB]

I wouldn't go so far as to congratulate me since I was wrong about the grade, too.

[cpm9ball]

This is only the second time that I have seen an MS68 Morgan, and the other was heavily rainbow-toned. But still, I sure missed the boat on it.

 

Beautiful, Lehigh!

 

Chris

[PCcoins]

From looking at the pics posted, I was going to say a ms66. But I think they were to large to accurately grade. I guess I'm use to my Washington series, an ms68 is going to look about perfect. But I guess the morgans have alot more surface area and allow a few contact marks even in an astonishing ms68!

 

None the less, I bet it's a stunner in hand. (thumbs u

[lehigh96]

I wouldn't go so far as to congratulate me since I was wrong about the grade, too.

 

I believe you stated that you thought MS67 because you thought that the luster would determine whether it was actually an MS66-7-8. Since I responded that the luster was outstanding, I assumed you would go with the MS68 grade if you had actually seen the coin in hand.

 

Anyway, I liked your reasoning for grading the coin and thought it deserved recognition. Irvin's was a no brainer since he nailed it.

[SkyMan]

I'm sorry, I could see this going MS67, but this is an example IMO of overgrading. Look at the hit in the hair directly above the ear. If the hit was in the field that would be one thing, but dead center in the obverse devices...

 

 

BTW, Paul, I have bought a variety of coins that IMO were technically overgraded when I thought the price was correct for the coin... most notably a 1958 Franklin graded PCGS MS67 when in my opinion it was TECHNICALLY a MS65+/66- FBL... and yes I did pay well over bluesheet for a MS67 grade, but if it had been a true 67 I would have forked out 2 to 2 /12 times what I paid.

[robec1347]

Nice coin Paul. I see my guess just barely missed the mark. It's nice to see a 68 graded Morgan. I can't say that I have ever seen one. Great score. (thumbs u

[cpm9ball]

I'm sorry, I could see this going MS67, but this is an example IMO of overgrading. Look at the hit in the hair directly above the ear.

 

Since that is not one of the primary focal points, I could see it not being given too much weight.

 

Chris

[jgrinz]

I love the cheeks - On the Head or ELSEWHERE are fine too

 

 

[lehigh96]

I'm sorry, I could see this going MS67, but this is an example IMO of overgrading. Look at the hit in the hair directly above the ear. If the hit was in the field that would be one thing, but dead center in the obverse devices...

 

 

BTW, Paul, I have bought a variety of coins that IMO were technically overgraded when I thought the price was correct for the coin... most notably a 1958 Franklin graded PCGS MS67 when in my opinion it was TECHNICALLY a MS65+/66- FBL... and yes I did pay well over bluesheet for a MS67 grade, but if it had been a true 67 I would have forked out 2 to 2 /12 times what I paid.

 

Sy,

 

I think that if this coin were in an MS67 holder, people would say that it is PQ and deserves a shot at MS68. Since it resides in a 68 Holder, it will appear to some as overgraded. Personally, I don't think the coin seems out of place in a 68 holder. When I grade coins (based on images) I look for an obvious reason why the coin would be overgraded. If I find the obvious reason, I don't buy the coin. In this case, I don't think there is an obvious reason, I think this coin is either a PQ 67 or a low end 68. In those instances, I usually trust the opinion of the professional grader (which I am not) who had an opportunity to actually view the coin. My approach involves some risk, but we all know I am a true gambler.

 

My goal was to pick up a nicely toned 68 at a relatively bargain price. Normally, I don't even worry about price guides, but with respect to this grade, the toning has to be tremendous to drive a significant premium. This coin does not have the type of toning that will drive a premium on an MS68 coin. I feel confident based on the other prices realized at auction over the last few years that I could easily recoup my investment if I ever wanted to sell this piece. After all, whether a true 67 or 68, it is still one hell of a coin.

 

In addition, I only presently own one MS67 Morgan for comparison sake and that coin is completely and deeply toned on the obverse. I have only owned a few 67 Morgans in my life and this is my first 68. Either way, I am very happy with the coin and the toning and it fits very nicely in my registry type set.

 

BTW: I killed the $20-$40 Hold-em game last night, left the table with 7 racks. Gamble Gamble!