1882-S NGC MS64 Morgan sells for $148+ on eBay?

[BankNote1]

Could someone enlighten me on why a common 1882-S MS64 Morgan Dollar would sell for over $148.00? Maybe I should be investing in 1882-S MS64 Morgans?

1882-S]http://cgi.ebay.com/ws/eBayISAPI.dll?Vie...=1]1882-S[/url][/url]

[kryptonitecomics]

I can't tell from the picture but could it be a Vam??

[Hoot]

Seems high for an '82-S in 64, especially without any significant color. That coin would usually max at around $65-$70.

 

Hoot

[Wihlborg]

Well, it doesn’t look like a bidding war was going on for the coin, so the only thing I can think of is that the coin is in an old holder. A lot of people still believe that a coin in an old holder will automatically upgrade.

 

John

[dwssws-migration]

there are no 82 S vams that would add that kind of premium

[Techno_mike-migration]

John,

The problem here is that if the last two bidders were thinking upgrade they better get this baby to MS66 or it is a lost proposition ...MS65 is $165 in the PCGS online price guide ...with resubmit costs this too much to pay.

 

I think the winning bidder went high so he would out bid a "creeper"...but the underbidder tried to "go high" for the same purpose...in the end these two were done in by a risky bidding technique.

 

Mike

[Wihlborg]

Mike,

 

Never underestimate the optimism of someone who thinks any coin in an old holder will upgrade. A two point upgrade is well within the range of optimism for someone like that!

 

Of course, you make a valid point that it could have just been two bidders who bid high thinking that no one else would do the same.

 

John

[coinman1794]

They would have to be optimistic to get past those scratches on the face!

[HaydenTubbs]

They would have to be optimistic to get past those scratches on the face!

I agree,and I'm sure the seller is very happy right now.

[James_OldeTowne]

As is the case with earlier-generation PCGS holders, many collectors think earlier-generation NGC holders are more conservatively graded than encapsulated coins of today. Personally, I think that's baloney, but some people will pay a sight-unseen premium nonetheless. I've been able to get premiums myself for such slabs.

 

James

[BankNote1]

Even if the bidders thought this coin would upgrade IMO the $148.00 was way to much to bid! You can buy a nice '82-s MS65 for that amount or less all day long. Lately I have seen silly money being paid for coins that you could go and buy from your coin dealer and save money. Even raw coins are bringing bids in some cases higher than PCGS and NGC slabed coins. I know what the bidders are buying and in many cases they are getting taken. It just don't make any sence.

[SilverDollarMan]

I have paid more than a coin is worth...if i really wanted it.

[RGT]

As is the case with earlier-generation PCGS holders, many collectors think earlier-generation NGC holders are more conservatively graded than encapsulated coins of today. Personally, I think that's baloney, but some people will pay a sight-unseen premium nonetheless. I've been able to get premiums myself for such slabs.

 

James

 

I have a handful of the early thick NGC slabs and some of them do seem undergraded to me. Of course most of the undergraded ones have been cracked out by now so there may be few left on the market.

 

I also have some accurately graded coins in thick slabs. A while back I bought a BTW half in an old thick slab graded MS66 and paid a premium for it because of the color. After a while I became uncertain of the color and suspected it was "helped" a bit. I showed it to a commem expert at the coin club for his opinion. He looked the coin over and said it looked like an MS64 to him. I pointed out the number on the slab and he said they must have given it a bump for the color. He tends to not care for slabs and didn't bother looking at the label before I pointed it out. I did manage to sell the coin for what I had in it and bought a replacement much cheaper, also in an NGC MS66 holder.