1896-O Morgan Slabbed MS66... a short story.

[texasrichard]

So a guy I know tells me he has an 1896-O Morgan slabbed as an MS66 awhile back. Not knowing Morgans at all I didn't think much of it at the time. Then one day I look at the POPS and Guide for such a coin and am blown away when I see they list for over $ 400,000 !!!

 

I later asked the guy if he was really serious about having it and he said yes. I then asked what company graded it. He couldn't remember but said he'd bring it in and show it to me if I'd also take some pictures of it.

 

Well.... he brought it in yesterday. He says... "look, I know it's not likely a 66 at NGC but it should still be a low MS grade he thought. I glanced at it and told him... "uh, I don't think so". I told him I'd take some pics so he could see it a little better as I don't think his eyes are what they used to be.

 

Now I need to show him these pics (and even the much larger versions) today and let him know my opinion. I sure hope he didn't pay a lot of money for this coin. Comments welcome. I intend to show him this thread so he can see what others might have to say...

 

[PCcoins]

harshly cleaned, non-gradable by the TPGs.

 

I hope the buyer didn't pay to much either...

[Mark T]

What is there to say other then that is a heavily cleaned Au 50 - 55 coin .

[Lazarus Long]

It's sad that someone would butcher a coin like that. What goes through people's minds when they clean a coin and leave abrasion marks (in this case severe ones)?

[robec1347]

Not even close to MS, let alone 66. Probably closer to EF than it is to a 66, although it probably details in the low AU area. Like others have said, harshly cleaned and stripped.

[cpm9ball]

AUshucks!

 

At least it might have been.

 

Chris

[gmarguli]

What goes through people's minds when they clean a coin and leave abrasion marks (in this case severe ones)?

 

I'll be able to put this newly shiny coin in an AGA MS66 slab and sell it to a clueless person for some big money.

[TomB]

Looks like an AU that has been harshly cleaned.

[rrantique]

Looks like an AU that has been harshly cleaned.

 

With a Brillo pad. (thumbs u

[Ahab]

Looks like an AU that has been harshly cleaned.

 

I have to second it.

[CHABSENTIA]

This coin has been harshly cleaned. I would not even go AU with it. At best I would go EF40. Unbelievable that somebody would do this to a coin. Even more pathetic is calling it an MS66.

[WinstonWare]

Man, that coin took a beating. Maybe AGA only has MS66 inserts

[cpm9ball]

Man, that coin took a beating. Maybe AGA only has MS66 inserts

 

Nope, they just ran out of 67's and had no choice.

 

Chris

[bsshog40]

That is a shame! I think it may have gone AU50 but man why would someone clean this coin so harshly.

[SkyMan]

Just for interests sakes I just looked at the 1/1/10 gray sheet to see how much some insufficiently_thoughtful_person was willing to throw away and/or use to soak some poor . Obviously these prices are for sight seen nice coins, so this coin wouldn't currently come close to the below values.

 

Bid/Ask

 

AU 130/140

 

XF 24/26

[123cents]

Looks like it was cleaned with steel wool.

[texasrichard]

Thanks all for the replies. I met with the owner and gave him the coin back. I showed him gigantic pics of his coin which are about 3 times bigger than the big ones I posted.

 

The pics took a long time to load and that was probably a good thing that they took so long. By the time they finished loading he already knew.

 

I still don't know what he paid but he did say he would return it and said he'd be more careful in the future.

[ksteelheader]

I like it!!

[gbsten]

Wow! Mine must be a MS-68!!! I'm rich!!! This has been a great week, first I get a call from a Nigerian banker who wants to send me 3.6 millon and now this! I guess all my money troubles are over!!!

[cpm9ball]

..........first I get a call from a Nigerian banker who wants to send me 3.6 millon......

 

Tell him to place it in a Swiss account, send you the access code and then you'll talk.

 

Chris

[RockMyAmadeus]

Wow.

[JIM F.]

A candidate for an upgrade to MS-68 if submitted to SEGS.

[$ilverHawk]

Damn, why do people buy/invest in things they know next to nothing about. Coin is worth silver melt.

 

There is a special hell for people that screw their fellow man.

[coinman23885-migration]

AU53 technical grade; VF30 - XF40 net grade. The coin has been abrasively cleaned and all the major grading services are likely to body bag the coin.

[coinman23885-migration]

A candidate for an upgrade to MS-68 if submitted to SEGS.

 

Do you means SGS? SEGS, Sovereign Entities Grading Company may be on the liberal side, but they are at least legitimate and would body bag this coin.

[James_OldeTowne]

SEGS doesn't bodybag cleaned coins. Their policy is to encapsulate them with a grade and text describing the problem.

 

Looks like this piece of junk is overgraded by at least ten points and severely cleaned.