Thoughts on this 1921 D Morgan 2 2

[Mr.Bill347]

Couple of concerns. Dirt/grease at 5 o’clock obverse, streaking above the wings on reverse.

dipping?

[Mike Meenderink]

UNC Details Cleaned

Edited January 15, 2023 by Mike Meenderink

[Mike Meenderink]

If it wasn't cleaned I'd stick it in MS64

[Fenntucky Mike]

I'd pass. Dipped? Maybe.

[EagleRJO]

I think its dipped with that dull grey color from being dipped too long.  Pass ... the 1921's are readily available, and the better ones like the attached are not very expensive.

Edited January 16, 2023 by EagleRJO

[JT2]

Mr. bill i would pass on this one...  you can get a true gem for about 5 bills.....

[Mr.Bill347]

Thanks guys I passed

[J P M]

If it is cheap like this graded coin I got for $41. I know it is a P but I am sure you can find something like this Bill

Edited January 16, 2023 by J P M

[Mr.Bill347]

That’s exactly what I want JP just haven’t seen many graded. I want to have a four mint marked Morgan’s to go along with my 2021 Morgan.

let me know if you see one somewhere. Thanks JP

[EagleRJO]

The 1921-D in a nice BU grade typically retails for about $60 to $70

[Coinbuf]

The photos that Bill posted look to have been taken/lit/massaged in a way that could be hiding some issues.   I think it is a good idea that he passed on this coin.

[RWB]

On 1/16/2023 at 10:10 AM, J P M said:

If it is cheap like this graded coin I got for $41

The coin is also AU -- not Unc. Look at the differences in field near stars, letters, numbers, etc. Use the "white paper" test to view the obvious.

[“”]

I have this one in ms65.

[EagleRJO]

On 1/16/2023 at 10:10 AM, J P M said:

If it is cheap like this graded coin I got for $41. I know it is a P but I am sure you can find something like this Bill

That's a good price for that coin.  Just curious if you still have the hook to get coins around 2/3 to 3/4 retail, or better in some cases. I seem to recall you mentioning something about the wife of the dealer taking over.

[Mr.Bill347]

On 1/16/2023 at 7:53 PM, Simple Collector said:

I have this one in ms65.

The MS63 and up are going for over $150 right now. Crazy!

[J P M]

On 1/16/2023 at 8:07 PM, EagleRJO said:

That's a good price for that coin.  Just curious if you still have the hook to get coins around 2/3 to 3/4 retail, or better in some cases. I seem to recall you mentioning something about the wife of the dealer taking over.

I try to buy almost all my coins a 30% of retail if I have to jump to 50% I will if it is a hard to find coin. Now Morgan's in the last year or so have been harder to get in that percent range. I will pass on any coin at 75% except gold that is it's own demon . Now that I am down to the 90's the last 5 Morgan's in my set. I may have to wait a long time or break the rule and pay up. We will see what I can find I am not in a rush. 

Edited January 17, 2023 by J P M

[EagleRJO]

On 1/17/2023 at 8:27 AM, J P M said:

Now Morgan's in the last year or so have been harder to get in that percent range. I will pass on any coin at 75% except gold that is it's own demon . Now that I am down to the 90's the last 5 Morgan's in my set. I may have to wait a long time or break the rule and pay up.

One issue is at what valuation for Morgans.  I think PCG$ has over-valued them since early in 2022 when they jacked up the values from the spike and never looked back.  On the flip side, NGC hasn't really raised their values by much the past several years.  So maybe somewhere in between might be reasonable as an FMV.

I have been using the NGC values as a target, even though that may be a little low now, and have been able to find many of the ones I was missing for around or a little below that if I am patient.  But getting them at 70% to 75% of the NGC values is going to be a very tall order, which may not be realistic except as a rare find. 

[A representative example of one I am looking for to fill a gap is an 1892-CC in XF-40 grade.  NGC value is $550 and PCG$ value is $700.  Recent sold prices at GC for Nov 2022 thru Dec 2022 were $602, $619 and $655, and a little more at HA.  The average of the sold prices is about $625, or halfway between the NGC and PCG$ values.  If I'm patient I think scooping one for around or a little below the NGC value of $550 is possible.]

Edited January 17, 2023 by EagleRJO