Did Anyone See This Coin?

[gbsten]

I'm kind of depressed I lost this coin in an auction somehow. I just fell in love with it. If you can't make out the label it is a MS-65*. I was just about to go-off on bidding for this when by some cruel twist it became unavailible for purchase. In fact, change "kind of depressed" to "grieving for weeks"!

[TomB]

They are fairly scarce with that type of look. That one would hurt.

[physics-fan3.14]

Yeah, I know exactly how you feel.... that one is gorgeous.

 

Good news is, TomB approves of the coin, which is a major validation of your taste in coins.

[kryptonitecomics]

I have learned over the years that whenever you miss out on one great toned coin another one will eventually come along that you like even better. Looks like a great coin even with the really bad image but keep your eyes out and something will be along to sooth your pain soon (thumbs u

[WoodenJefferson]

I often wondered just how handicapped the graders are examining these toned Morgan's through the GSA holders?

[PerryHall]

There are too many nice coins out there to worry about the one that got away.

[Conder101]

I often wondered just how handicapped the graders are examining these toned Morgan's through the GSA holders?

Hard to say, I'm sure there is some difficulty. Not that thy would really care that much though since their grading guarantee doesn't cover them. So if they are wrong it won't hurt them.

[cpm9ball]

I often wondered just how handicapped the graders are examining these toned Morgan's through the GSA holders?

Hard to say, I'm sure there is some difficulty. Not that thy would really care that much though since their grading guarantee doesn't cover them. So if they are wrong it won't hurt them.

 

They probably open the case to examine the coin and put it back together when they've finished.

 

Chris

[Conder101]

No they don't. That is why their grading guarantee doesn't apply, because they haven't seen the coin "in hand".

[HiHoAudio]

There are too many nice coins out there to worry about the one that got away.

 

Amen.

[BillJones]

If this had been a truly rare item of which fewer than 20 are known, and seven of those are in one very strong collector's hands, (yes I've been there as a collector), I'd be upset a losing out on the piece. But this is an 1883-CC silver dollar, which is one of the most common Carson City dates in the series. The toning is nice, but it's not outstanding. There are white spots in it, and I've seen coins that were toned just as colorfully and more evenly.

 

Sure, it will take time to find another, but if you look hard enough it will become available. As a collector of over 50 years, I've waited years to buy certain pieces. It's just the nature of what people call "rare coins."

[Tradedollarnut]

IMO, professional graders can grade a Morgan in their sleep by braille - they have ZERO problems grading one through GSA plastic

[Conder101]

Then why won't they guarantee the grades?

[BillJones]

I think they are afraid that someone will find a way to take the bans off the holders and re-attach them to other coins.

[gbsten]

Then why won't they guarantee the grades?

 

The reason they won't give you the guarantee is the GSA slab is not their product. I will have to say I think the GSA slab IS a very stable holder, especially when you consider it was developed in the early '70's. It appears to be very inert.

[gbsten]

Well, another opportunity to bid on this coin surfaced. I bid over $600 which I think is very good money for an1883 CC. Didn't hit the buyers reserve! Help me out here, I realize there would be some premiums attached to this coin,but what do you think its fair-value range is? I'm sure by some opinions I've already overbid, others will correctly say "whatever it's worth to you". I just want to make sure I don't have coin-itis. What are some unbiased opinions for high-end price estimates for this coin? I really need some advice, I feel as though I may be "blinded by love"!

[coinman23885-migration]

$600 is too much IMHO. The toning is nice, but it isn't spectacular.

[coinman23885-migration]

I just want to make sure I don't have coin-itis. What are some unbiased opinions for high-end price estimates for this coin? I really need some advice, I feel as though I may be "blinded by love"!

 

The coins you love the most are the ones that require the most discretion when purchasing. I've overbid more times than I'd like to admit. Here is my general rule, and I know that I will face a lot of criticism for this, but here goes:

 

The PCGS Price Guide is grossly inflated for almost every series (save perhaps for some of the early bust coins). I reserve this price guide as an absolute cap for only the best coins. Even as such, I still try to avoid nearing its values when possible. A good estimate of its value is to take 70% of PCGS Price Guide Value (unless it's a condition rarity and then you should knock off even more). If money is no obstacle, purchase the Coin Dealer Dealer Newsletter ("The Grey Sheet") and add 20-30% to the bid price. If a seller wants more than that, I would pass.

 

I apologize to all tone lovers in advance, but toning represents oxidation which can turn at any given moment. I can see a 20-30% premium over retail for some nicely toned coins, but the prices that I see on eBay ($300 for a toned coin that is worth $75 white) are outlandish. That's my opinion for what its worth. In general, buy what you like. You will be the one who will have to sleep with the decision and/or face a potentially angry spouse

[TomB]

Greysheet bid/ask is $390/$430 for an MS65 so a bid of $600 is definitely higher than Greysheet. However, the coin also has the * designation and I do not know how much that might come into play with this series. On the other hand, it has been my experience that nicely toned CC dollars in GSA holders are not all that common so you may be faced with competition from folks who have been looking for such coins for a while and thus, may be willing to pay much more. Ultimately, if you have not yet met the reserve it may be that the seller is too optimistic on the price. Have you contacted the seller to ask what the reserve might be?

 

The choice to pay a premium based upon the "look" of a coin is a highly individualistic decision. I will pay a small premium for some coins, no premium for others and what might be considered a ridiculous premium for the best coins. In my NGC type set I have an 1890 PCGS MS65 Seated Liberty dime. It is my opinion that the coin is fantastic and I paid $1,500 for it in 2004 when bid was $750. Heck, bid now is only $690. I paid a 100% premium for the quality of the coin and believe I received one heck of a good bargain. Of course, you can't do this with every coin that you see and expect to receive good value, but sometimes the coin is worth the money.

[kryptonitecomics]

From what I can see in the images and based on the MS65* grade and my extensive knowledge of toned coin prices over the past 5+ years....I would think $600 would be on the low end of the range and I would expect $800 to be on the upper end of the range for this coin.

[kryptonitecomics]

 

I apologize to all tone lovers in advance, but toning represents oxidation which can turn at any given moment.

 

 

This statement is 100% false and is easily proven false. Oxidation does not simply turn at any given moment unless a dramatic environmental change takes place...i.e. heat, chemicals or moisture are introduced etc

 

 

Silver coins especially....tone due to their storage environment and more specifically the contaminants in their environments. So the chemicals used to process paper and cotton like sulfuric acid etc becomes infused into cardboard albums, paper rolls and cloth bags and this is what ultimately creates the right environment for a coin to tone along with heat and moisture. If you remove a coin from the environment that caused it to tone in the first place that toning generally stops or slows down to a crawl. There are plenty of coins certified 20-30 years ago that have the same rich vibrant colors that they had when they were originally certified. The toning or layer of silver sulfide actually acts as a barrier and protects the surface from subsequent degradation.

 

In the case of artificially toned coins...the environment isn't usually the cause of the toning but in more cases then not a chemical is placed on the coins surface and then heat is introduced to cause the accelerated toning. Once these coins are certified, the chemicals on the surface can continue to cause the coin to tone if the coins surface isn't properly washed and stabilized....it's the same thing with dealers who dip white coins and then don't properly rinse...the coins can and will tone if the chemical is left on the coins surface.

 

 

 

 

 

 

[cpm9ball]

I agree with Tom, and beauty is in the eye of the beholder. I have a couple of toned CC Morgans in GSA slabs that are nowhere near as pretty as this one. As Shane said, I would expect one like this to sell for a substabtial premium. If you end up getting it for $600, then I would say you got a real bargain.

 

Chris

[gbsten]

Well, after due diligence (read: pestering) I finally struck a deal (read: dropped my pants) and bought this GSA! I hope to be able to post some better images next week. Thanks to Shane and Chris for their opinions, it helped put me over the edge with the purchase price (read: lost my mind). I hope it's everything I think it is!

[cpm9ball]

Well, after due diligence (read: pestering) I finally struck a deal (read: dropped my pants) and bought this GSA! I hope to be able to post some better images next week. Thanks to Shane and Chris for their opinions, it helped put me over the edge with the purchase price (read: lost my mind). I hope it's everything I think it is!

 

My opinion is either I like it or I don't. Obviously, you must have agrred with that. I hope you will very satisfied that you pulled the trigger.

 

Chris