1986-S Morgan Dollar

[smokiethebear912-migration]

I have inherited 3 Morgan dollars and as I am new to this figured I would see what your guys estimates are to figure out if the cost of grading is a wise investment.

 

EDIT: Removed the common / problem ones and just left the one I want to know about.

 

1986 S

 

 

[Coindude]

The only one in there that might be worth a premium is the 96-S. It goes from about $50 in VF to say ~$200 in XF. The coin does have some obvious problems but it's a decent coin with decent eye appeal. The 81 has decent eye appeal but is still a $20 coin. The 21 has major problems and has been harshly polished / cleaned. I'm calling that one a melt coin.

[smokiethebear912-migration]

I do have a lot to learn as I figured that the 1921 would be worth more as it isn't covered in tarnish like the older coins. I guess I can see why as it would take away from the natural patina of the coin.

[BillJones]

The 1896-S Morgan dollar in VF has a Gray Sheet (dealers' wholesale price) bid of $45. Even if it graded EF, the bid would be $180, which really not high enough to rate the grading fee. Getting this coin certified is not worth it.

 

You observation about the 1921 is accurate. A lot of non-collectors think that shiny is better. It's only better the "shine" is original mint bloom. Otherwise it's usually a sign that the coin has been messed with and is probably worth less than it would have been if it had been left untouched.

 

As for the 1921 Morgan dollar, that issue is one of the most common Morgan dollars in the entire series. If it makes you feel any better, the fact that the coin had been polished makes little difference in the value of that one.

[Coindude]

I would also agree on the assessment by Mr. Jones that this coin does not warrant grading. If you are interested in selling it, just sell as is.