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JP's Morgan's
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13 posts in this topic

On 12/13/2022 at 9:45 AM, J P M said:

It's a little dirty on the rim... they call it toned ??

Yea, that is "toned".  For that one I got a BU grade slabbed by NGC as a "Stage Coach" Morgan, even though I was looking for a raw one.  I am just missing the CC mint for that year, which I have been shopping around for as it's a little pricey in my target minimum VF/XF grade.

1889-stage-coach-morgan-dollar-bu.jpg

Edited by EagleRJO
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On 12/13/2022 at 1:02 PM, EagleRJO said:

Which 5 are you missing?

I was kind of joking on the tone seeing it is ever so slight .I do have a few toned Morgan's, though not many Jo. I still need the 1891-1895. I may be able to get the 91 for a reasonable price and maybe even the 92  but the 3-4 and 5 are never cheap in MS.  I may have to shop for a while to find those in my budget or buy ungraded and send them in to NGC  to save a dollar or two.

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On 12/13/2022 at 2:18 PM, J P M said:

he 3-4 and 5 are never cheap in MS.  I may have to shop for a while to find those in my budget or buy ungraded and send them in to NGC

Are you considering maybe an XF or AU for some of the more expensive ones, or are you shooting for all MS for the collection?

[I have a feeling it's a target all MS from other coins you have posted ... :bigsmile:]

Edited by EagleRJO
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On 12/14/2022 at 9:52 AM, J P M said:

Yes I am trying to go for one of every year MS. Two of the years 1878 and 1900 I bought VAM's because they were both top 100 and I wanted them just for that reason. It also breaks up the set nicely having a couple lower grade coins.  

I have a good variety of grades in my complete Morgan collection from VF30 to MS64, and they are almost all raw coins with quite a number that are graded BU which is my favorite grade. ;) 

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Any reason why that coin was graded "BU" by NGC with no grade ?

Was it one of those things where you get a bulk discount if you eschew a numerical grade and just go for a more general classification ?

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The BU Stage Coach Morgans are likely the result of a combination of bulk grading submittals by a very large dealer and a marketing collaboration.  A bulk submittal of say a bank bag full of a certain coin by a large dealer can include a request that they be pre-screened to pull out any coins that would not grade above an MS-XX (fill in the "XX" depending of the dealer's desired cut-off point).

Those pulled coins are then just graded BU and put into special holders like the Stage Coach Morgan I posted.  This is done to save money on the grading fees and provide the TPG with some marketing.  I have seen this done with both NGC and PCG$ for BU Stage Coach Morgans, and for other coins too like a $20 Saint-Gaudens graded BU and marketed as a "Prospector Label" like the attached.

saint-gaudens double eagle BU Prospector Label.jpg

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