1882 O/S Morgan Dollar Question

[A.Phillips]

I bought 1882 O/S NGC MS62+ a few days ago, it hasn't arrived in my hand yet. When I checked on NGC census, it showed that it's only 9 of 1882 O/S has been graded at "plus" designation in MS condition (4 at MS62, 3 at MS63, and 2 at MS64). Also the description on NGC mentioned, "Bowers states: 'The 1882-O/S is very scarce in lower Mint State grades, scarcest in MS64, and very rare in MS65." I kinda of find hard to believe this because it's quite cheap to buy the 1882 O/S in MS condition even with "plus" designation than buy (for example) 1889 CC or 1893-1895O Morgan in MS condition. I hope you know what I mean?

 

Is it really a scarce coin or not?

 

Dealer's photos

 

 

[Raisethis2]

I see them a lot in circulated condition. I think Bowers is correct that in higher MS grades it's a tough find. The Coin Dealer Gray Sheet lists the MS 65 @ $50,000.

 

That's convincing.

 

The MS 64 is bid $1600 and an MS 63 is "just" $640.

[RWB]

Bowers was referring to the top 0.25%...something that is a full MS-65 when viewed from Cleveland.

[Conder101]

You also have to remember that just because you have two coins that are both scarce or even rare, one can be very expensive while the other is cheap depending on demand. Most any Morgan dollar collector would love to have a MS 1889 CC dollar, but only a variety specialist would be willing to pay a high price for the MS 82 O/S. There is a much smaller demand pool so prices are lower.

[A.Phillips]

Ok got it, so MS62+ is still good to own? Should I resubmitted it to see if it can go for MS63 or leave as it is at MS62+? I bought it for $420.

[Kevin J Flynn]

Also consider that this is questionable regarding its states as an over mint mark.

 

It was originally called an RPM by the VAM guys, then O/S

 

I refuted it as a progression of die cracks and proved it could not be the remnant of an underlying S.

 

Many collectors question its authenticity as an OMM. I have seen this go through auctions with no premium at all even though it was listed as an O/S.

 

Like the 1914/3 Buffalo nickel that John Wexler and I absolutely believe are not the remnants of an underlying 3, it is up to the collector to determine themselves if they believe it is what it is claimed to be, and spend accordingly. I believe collectors today do not listen blindly to books and people, rather than 20 years ago when many would believe Breen "Because it was in writing"

 

Another example is the 1861/0 Half dime, most know the extra metal around the 1 is in the exact same relative position which points to a defective date punch, yet the price in the red book is still a high premium for these, but most collectors are smart enough to understand and spend accordingly.

 

Kevin

 

[MarkFeld]

Ok got it, so MS62+ is still good to own? Should I resubmitted it to see if it can go for MS63 or leave as it is at MS62+? I bought it for $420.

 

Why would you ask about re-grading a coin you haven't even seen in hand yet? Also, the images provided do not allow for a good look at it.

[A.Phillips]

Ok got it, so MS62+ is still good to own? Should I resubmitted it to see if it can go for MS63 or leave as it is at MS62+? I bought it for $420.

 

Why would you ask about re-grading a coin you haven't even seen in hand yet? Also, the images provided do not allow for a good look at it.

 

 

Because I think the dealer's photos looking too good to be MS62. But I will add the pictures when I got it in hand.

[RWB]

The image resembles a scan rather than a photo. There seem to be plenty of nicks and scrapes consistent with MS 62.

 

[Das Bild erinnert an eine Scan-und nicht als Foto. Es scheinen viele Kerben und Kratzer, die mit MS 62 zu sein.]

 

If your interest is only about the money from a possible plastic upgrade, then by all means resubmit it as many times as you like -- even beyond whatever value the coin might have had. You can then sell it at a discount because there are bunches of these things in MS 63/64 etc. floating around and you will have lost out any profit on the total transactions.

[A.Phillips]

The image resembles a scan rather than a photo. There seem to be plenty of nicks and scrapes consistent with MS 62.

 

[Das Bild erinnert an eine Scan-und nicht als Foto. Es scheinen viele Kerben und Kratzer, die mit MS 62 zu sein.]

 

If your interest is only about the money from a possible plastic upgrade, then by all means resubmit it as many times as you like -- even beyond whatever value the coin might have had. You can then sell it at a discount because there are bunches of these things in MS 63/64 etc. floating around and you will have lost out any profit on the total transactions.

 

Actually I bought it to add in my Morgan collection since NGC has 1882 O/S Morgan Dollar on registry set list. I personally don't buy the Morgans for an investment, I buy it because I love Morgans and several other coins (Capped Bust Half, 20c piece, and few Barbers). So I am trying to get every mints in each years at higher grade as much as I can afford.

 

I just asked that question above because I could sell 1882 O/S MS62+ only if I find a better grade for 1882 O/S such as MS63 or MS63 + or *. It will be make me to feel lousy if I found out that the future buyer of my 1882 O/S MS62+ submit it to grading service and return with MS63 or better. You know what I mean?

 

[MarkFeld]

The image resembles a scan rather than a photo. There seem to be plenty of nicks and scrapes consistent with MS 62.

 

[Das Bild erinnert an eine Scan-und nicht als Foto. Es scheinen viele Kerben und Kratzer, die mit MS 62 zu sein.]

 

If your interest is only about the money from a possible plastic upgrade, then by all means resubmit it as many times as you like -- even beyond whatever value the coin might have had. You can then sell it at a discount because there are bunches of these things in MS 63/64 etc. floating around and you will have lost out any profit on the total transactions.

 

Actually I bought it to add in my Morgan collection since NGC has 1882 O/S Morgan Dollar on registry set list. I personally don't buy the Morgans for an investment, I buy it because I love Morgans and several other coins (Capped Bust Half, 20c piece, and few Barbers). So I am trying to get every mints in each years at higher grade as much as I can afford.

 

I just asked that question above because I could sell 1882 O/S MS62+ only if I find a better grade for 1882 O/S such as MS63 or MS63 + or *. It will be make me to feel lousy if I found out that the future buyer of my 1882 O/S MS62+ submit it to grading service and return with MS63 or better. You know what I mean?

 

You could have the same concern/potentially "feel lousy" about virtually any certified coin you sell. The sharpest graders in the country sell coins that later upgrade, from time to time.

[RWB]

Don't "feel lousy" over something you cannot control.

[Conder101]

It will be make me to feel lousy if I found out that the future buyer of my 1882 O/S MS62+ submit it to grading service and return with MS63 or better. You know what I mean?

Would it make you feel better if they cracked it out and it came back a MS-62?

[A.Phillips]

It will be make me to feel lousy if I found out that the future buyer of my 1882 O/S MS62+ submit it to grading service and return with MS63 or better. You know what I mean?

Would it make you feel better if they cracked it out and it came back a MS-62?

 

Then we will celebrate, a round of beers are on me!