1897-O MORGAN DOLLAR! Grade?

[JOBESSI]

I just bought this 1897-O at an auction. It's slabbed by a lesser known grading company. I would love your input on a grade. Once a couple people have stated their opinion, I'll let you know how much I paid for it, and whether or not I should kick myself for it.

[coinman_23885]

Looks AU details, whizzed to me; look at the luster breaks - it's definitely not uncirculated.

[JOBESSI]

i was guaranteed it wasn't whizzed or cleaned. as soon as I get it in, it's off to NGC. If it comes back details, then I'm getting my $ back, .

[cpm9ball]

Well, since I can only see half of the coin, I'll give you half of a grade...........

 

DE_ _ _ LS - IM_ _ _ _ _ _LY CL_ _ _ED

 

Chris

[JOBESSI]

Well, since I can only see half of the coin, I'll give you half of a grade...........

 

DE_ _ _ LS - IM_ _ _ _ _ _LY CL_ _ _ _ED

 

Chris

 

ouch Chris...

[FILTHYHOARD]

As much as I wish it weren't, AU details, cleaned. Sorry

[jgrinz]

Dont even bother sending it to NGC - Get your money back

 

[Mark T]

Au - Cleaned – what did you pay for that coin ??

The person who guaranteed it was not cleaned has no business making that claim.

 

[James_OldeTowne]

It has AU-58, or possibly 60 details, but has been cleaned. Net AU-minus.

[JOBESSI]

Au - Cleaned – what did you pay for that coin ??

The person who guaranteed it was not cleaned has no business making that claim.

 

Let's just say that I sold my 1986-2011 NGC MS69 Silver Eagle Set and paid for the morgan with 80% of the profits.

[Mark T]

Au - Cleaned – what did you pay for that coin ??

The person who guaranteed it was not cleaned has no business making that claim.

 

Let's just say that I sold my 1986-2011 NGC MS69 Silver Eagle Set and paid for the morgan with 80% of the profits.

 

I have no idea what that set was worth but based on what you posted I think you really overpaid for this coin.

Considering that the coin looks to be a cleaned Au 58 I would put the value at around $175. As you know this coins value jumps substantially at MS 61 and higher. My guess is the coin was sold to you as a MS 62 .

I do not think the cleaning on this coin was harsh rather it was lightly cleaned and then overly dipped.

 

[mtnstyne]

First instinct to me was that it was polished as well. Otherwise I think everyone has pretty much summed it up with AU Details, don't know if I would put a price on it but I would go as high as $175.

[FILTHYHOARD]

80% of the proceeds from a 1986-2011 NGC MS69 eagle set is somewhere in the $1000 range. Justy my opinion, but I strongly urge you to get a refund (no offense intended at all)

[coinman_23885]

Au - Cleaned – what did you pay for that coin ??

The person who guaranteed it was not cleaned has no business making that claim.

 

Let's just say that I sold my 1986-2011 NGC MS69 Silver Eagle Set and paid for the morgan with 80% of the profits.

 

I have no idea what that set was worth but based on what you posted I think you really overpaid for this coin.

Considering that the coin looks to be a cleaned Au 58 I would put the value at around $175. As you know this coins value jumps substantially at MS 61 and higher. My guess is the coin was sold to you as a MS 62 .

I do not think the cleaning on this coin was harsh rather it was lightly cleaned and then overly dipped.

 

You/re being too generous in your pricing. The coin probably has AU58 details, but due to the cleaning, it is only worth EF40 to AU50 money which puts this piece at $33-90.

[coinman_23885]

80% of the proceeds from a 1986-2011 NGC MS69 eagle set is somewhere in the $1000 range. Justy my opinion, but I strongly urge you to get a refund (no offense intended at all)

 

For that money you could buy a nice uncirculated PCGS or NGC example...

 

I am not trying to be offensive, but the piece is such an obvious example of an improperly cleaned coin that I don't think you should buy non certified coins. Stick to PCGS and NGC. When you can tell the differences between slider AU and BU, cleaned vs. normal, etc., then and only then would I consider buying accurately graded old ANACS coins (and sometimes ICG) when they appear. Please note that ANACS and ICG have their issues too, but they are at least genuine third party grading services...

[Mark T]

I must have been in a happy mood when I suggested the coin was worth $175.

$ 100 seems to be what these are worth in a details ANACS holder at Au 58 .

Coinman - Silver is $37 a ounce , dont ya think $30 is a little on the low end for this coin ?

[cpm9ball]

Coinman - Silver is $37 a ounce , dont ya think $30 is a little on the low end for this coin ?

 

$37 x .77344 = $28.62

 

I think his low end was $33 which is in the ballpark for melt value.

 

Chris

[Mark T]

Coinman - Silver is $37 a ounce , dont ya think $30 is a little on the low end for this coin ?

 

$37 x .77344 = $28.62

 

I think his low end was $33 which is in the ballpark for melt value.

 

Chris

 

This coin even as a cleaned Au is worth more then melt.

[cpm9ball]

Coinman - Silver is $37 a ounce , dont ya think $30 is a little on the low end for this coin ?

 

$37 x .77344 = $28.62

 

I think his low end was $33 which is in the ballpark for melt value.

 

Chris

 

This coin even as a cleaned Au is worth more then melt.

 

Not everyone will look at it that way.

 

Chris

[Mark T]

Coinman - Silver is $37 a ounce , dont ya think $30 is a little on the low end for this coin ?

 

$37 x .77344 = $28.62

 

I think his low end was $33 which is in the ballpark for melt value.

 

Chris

 

This coin even as a cleaned Au is worth more then melt.

 

Not everyone will look at it that way.

 

Chris

 

If this was a common Morgan I would agree with you % 100.

This date has a retail value of $270 at Au 58 where the common dates are about $40. The $ 100 price is based on what I saw on Heritage for a details Au 58 in an Anacs holder. I know the coin is raw however I have to give it some value over melt. Bottom line this coin needs to be returned for a refund as it appears the seller grossly misrepresented the condition of the coin to the buyer.

 

[kryptonitecomics]

cleaned

[cpm9ball]

Coinman - Silver is $37 a ounce , dont ya think $30 is a little on the low end for this coin ?

 

$37 x .77344 = $28.62

 

I think his low end was $33 which is in the ballpark for melt value.

 

Chris

 

This coin even as a cleaned Au is worth more then melt.

 

Not everyone will look at it that way.

 

Chris

 

If this was a common Morgan I would agree with you % 100.

This date has a retail value of $270 at Au 58 where the common dates are about $40. The $ 100 price is based on what I saw on Heritage for a details Au 58 in an Anacs holder. I know the coin is raw however I have to give it some value over melt. Bottom line this coin needs to be returned for a refund as it appears the seller grossly misrepresented the condition of the coin to the buyer.

 

I fully understand your reasoning, Mark, but the reason I mentioned this is because of a ridiculous comment that was just made this morning on another forum when PL/DMPL was mentioned. Now, if someone doesn't want to pay a premium for PL/DMPL Morgans, what do you think he'd want to pay for a problem coin like this regardless of it's scarcity?

 

I like them but I don't more than junk silver prices for them. they aren't rare.

 

Chris

[Mark T]

Someone actually thought this Morgan was PL ??

Can you post a link to that post for me ?

 

 

[cpm9ball]

Someone actually thought this Morgan was PL ??

Can you post a link to that post for me ?

 

 

The discussion wasn't about this coin.

 

Chris

[$ilverHawk]

Key date Morgans in borderline mint condition are a great temptation. This coin, based on the Obverse image, is a MS 61-62 strike that shows signs of light circulation. It has been polished/cleaned. In its present condition its value is melt price.

 

Return this coin promptly.

 

$ilverHawk

[James_OldeTowne]

It has AU-58, or possibly 60 details, but has been cleaned. Net AU-minus.

I have bought numerous cleaned Morgan dollars for a couple of clients who prefer cleaned coins. In my experience, the value of such pieces is about 1.5 grades below the details grade. That's why I suggested "AU-minus" before.

 

For this piece, greysheet is about:

 

XF = 35

AU = 83

MS-60 = 575

 

.... so I would be offering about $70.

 

While this is a rare coin in MS-60 and up, it becomes much more common the instant it has any wear. Thus, there's a huge drop from MS-60 to AU-58, and of course, an additional big drop due to cleaning.

[JOBESSI]

I just got it back from NGC. "UNC Details-Improperly cleaned." oye vey...

[James_OldeTowne]

With UNC details, then the value is more like $190, at least. Remember that my guess was based on AU-58 details . It may not seem like such a big deal to go up 2 points, but this is one of those wacky Morgan dollars that has that humongous jump between AU and MS-60.

 

I hope you didn't get hosed on it.

[Mark T]

With UNC details, then the value is more like $190, at least. Remember that my guess was based on AU-58 details . It may not seem like such a big deal to go up 2 points, but this is one of those wacky Morgan dollars that has that humongous jump between AU and MS-60.

 

I hope you didn't get hosed on it.

 

He got hit with a fire hose on this coin .

[coinman_23885]

Coinman - Silver is $37 a ounce , dont ya think $30 is a little on the low end for this coin ?

 

$37 x .77344 = $28.62

 

I think his low end was $33 which is in the ballpark for melt value.

 

Chris

 

This coin even as a cleaned Au is worth more then melt.

 

Not everyone will look at it that way.

 

Chris

 

If this was a common Morgan I would agree with you % 100.

This date has a retail value of $270 at Au 58 where the common dates are about $40. The $ 100 price is based on what I saw on Heritage for a details Au 58 in an Anacs holder. I know the coin is raw however I have to give it some value over melt. Bottom line this coin needs to be returned for a refund as it appears the seller grossly misrepresented the condition of the coin to the buyer.

 

The coin is worth AU 50 pricing at best (~$90), although EF ($mid 30s) pricing is probably right. My estimates were in line with these values.