A Really Great Day!!! posted by Bammer

[CSJournals-migration]

...won not 1, not 2, but 4 lots!!

 

Hi everyone,

 

Wow, what a great day! Several things were added to my collection today. First, I added 63 40% Kennedy halves to my silver hoard. The day I agreed to buy these halves (at $4 each), silver was up in the mid to high $28 dollar range. Consequently, I would have been up 25 cents per coin. I had to convert some stock into cash so I could pay for them (along with covering my bids in today's Stack's auction). Well, I silver closed down in the $26 range today, so I'm down 2 cents per coin. But that's ok, as I feel this is just a downward correction, I'm still very, VERY bullish on silver the next few years. We'll see what happens, I'm really in no hurry to sell any, this is more a fun thing for me to do as I have at least 4 years and 9 months till I can retire (at 62), and more years if I decide to wait until my full retirement age (66). So, I feel have time to speculate on silver, and it's (at least to my mind) always going to be worth something no matter what.

 

The second purchase today (from the same gentleman I purchased the Kennedy's from, was a 1882 CC Morgan dollar in the GSA hard pack. I couldn't afford one of these back when they were originally being sold, so it's nice to be able to have this piece of numismatic history (although recent history to me). I would like to hear any suggestions and the reason for the suggestion from anyone here in the Society as to how I should handle it. I'm tempted to just leave it as it is. But then I wonder as how a NGC grade (even left in the hard pack) would affect value. After studying the coin tonight with a glass, I feel it would grade in the AU50 - MS62 range. The only downside to the coin is some toning (rather unattractive to me) on the lower right quadrant of the obverse. It looks to me possible from a bag covering it, but I could be mistaken. Normally I stay away from toned coins, so really have no comparison as to what caused the toning. Again, suggestions and reasoning would be appreciated.

 

Now on to the Stack's auction. For those of you who are in my friend's list, and follow my journals, I've sold some of my coins, so I could return to one my big loves, currency! I love a crisp piece of currency, especially older currency and older foreign currency (Mexico and Latin America and Europe mainly). I also love adjunct pieces; engravings, proofs, stocks and impressions from the engravings. Well I got really lucky tonight. Today was Part 2 of The 52 Collection at Stack's. The 2 items I really wanted were Lots 3841 and 3860. Lot 3841 is an Archival Specimen Teller Order Certificate from the First National Bank of Deadwood, Dakota. This would be the Territory then, and as most of you probably know, I'm a huge Western history fan.

 

Lot 3860 is a Die Proof Vignette of "Iows Arms", used, and I'm quoting the Stack's catalog, "on State Bank of Iowa notes".

 

I was really afraid I wouldn't make it home from work in time to bid using Stack's live, so I left substantial maximum bids (substantial to me anyway). The max bids totaled $1300 for the pair. Well, to make a long story short, by the time I got home from work, did some things here that needed to be done and then got down to the computer and logged in to Stack's, it was 8 pm. I got really lucky, as they must have been running behind, they were about 9 lots before the first one on my watch list. So I got my mouse ready to bid, but I didn't have to, as my max bids stood up, and I won both lots for LESS than the max.

 

So, I was able to bid on 2 other lots. First was lot 3876, which was titled "Die Proof Vignette of untitled Indian attack". I'd have to go back through my watch lists and catalogs, I really think I had a chance to by the actual ABN plate for this scene, but it went way more than I could afford when it was offered.

 

The second lot was #3884. This lot consisted of 2 items, a Die Proof Vignette and a matching proof bill head from the Adams Express Company. Needless to say, both of these items fit in with my western theme, and I'm very happy to get them.

 

I'll quit now, hope I haven't bored all the coin collectors with this.

 

I'll attach a pic of the obverse of the 1882CC Morgan to make up. :-)

 

Thanks for reading.

 

See more journals by Bammer

[Thane]

From my experience of searching mint bags (mostly Westward Journey Nickels, mind you), the toning on your 1883 CC $1 is almost certainly bag toning. The coins adjacent to the bag tone yellow. If a coin overlaps, then the yellow toning is partial. That is why arcs and moons are so common.

 

While bag toning seems easy to find these days (you see it in bank rolls even, because banks didn't order new coins during the recession, and now the armored carriers have to dig into their older bags), such examples seem rare from classic coinage. Perhaps that is because, historically, folks cleaned their coins? Toning was deemed a drawback? Thoughts, anyone?

[coinsbygary]

I think your grading on the 1883 CC $1 is conservative. In fact I think this coin might grade as high as MS-64. Of course from my perspective, without a glass, I may be off, but just looking at the picture I do not see any evidence of wear that would suggest an AU grade. The most critical areas in grading Morgans are first Miss Liberty's cheek and date, followed by the open fields, then by Miss Liberty's hair and cap, and finally the least critical area around the letters and stars. The fields on your coin look clean and the scuffs on Miss Liberty's cheek from mint handling are minimal and undisturbed by wear. An error I frequently make in grading Morgan Dollars is mistaking a weak strike for wear. Any wear will show on the high points as a dull grayish hue when rotated in the light. Apart from the toning your luster looks good. Hypothetically, If you were to compare the same coin and holder side by side, one graded and the other not, the graded coin would command the most value, especially considering the limited number of GSA holders and large collector following. As for the grading specifics, I would love to claim a vast knowledge, but the information in this post on grading was gleaned from an AMOS Press publication entitled, "Making the Grade". Whatever you decide, you had a very good night, and you own a very nice coin. Anything mint-marked CC always has a large following and I to am intrigued by any coin that circulated in the old west. All the best.

Gary

[jackson64]

Good job bammer--great pick-ups and a great collecting day !

[Geno1900-migration]

Really a NUB at this hobby but am learning so much every day. It's becoming a passion. Not sure if that's good yet! Thanks for the input on the GSA Morgan CC's. I have four Morgan CC's in GSA holders, one of which has similar toneing. Had considered using NCS on it. Plan to back off that and just get the NGS to certify in the GSA holder.

Gene

[GSA_Gem_Quest]

Bammer - NIce coin in the GSA holder. Do not under any circumstances remove it from the original GSA holder. If you do, you will be devaluing the coin. If you want, you can get it graded in the GSA holder by NGC. They simply put a grading band around the outside of the holder. It is unquestionably MS condition. None of the Carson City coins put in the hard pack GSA holders were less than MS.