Worth submitting? Ideas on grade for tier purposes? 1 1

[MiriamLJL]

Semi newbie here, I recently joined NGC as I have a few coins I’d like to get certified and graded. This one is an 1860-O Silver Dollar- curious if any experts out there think this is worth getting certified? And if so, maybe an idea on what grade it might get so I know what tier to submit it under? I would hate to overpay unnecessarily, or underpay and it’s worth much more and I potentially lose money for insurance purposes if it’s lost. 

 

[Coinbuf]

Welcome to the forum, very nice seated liberty dollar.   Yes this coin is valuable enough to be worth having it certified, but if you don't mind my asking why do you want to submit this to a third part grading firm?   If selling is your goal then certification can help with liquidity and is one reason for certification.   From your photos it looks to grade low AU or possibly XF, which would support the dollar value written on the 2X2.   At that value the standard tier is what you should use, best of luck if you do decide to submit and please stop back by and let us know how it goes.

 

Just for a comparison, this is my 1860-O SLD graded by PCGS as XF45

 

Edited October 8 by Coinbuf

[MiriamLJL]

Coinbuf- that is super helpful, thank you! Yours looks very similar to mine. I am planning to sell- my dad gifted me and my sister many coins and collectables over the years with the instructions not to sell until after he died, as a way to “take care of us girls” after he’s gone. Unfortunately he passed away last month, so my sister and I are starting to sort through the coins we have and planning to start selling some of them. He always talked about getting things certified so I joined NGC to do just that! I know he’d love that we are going through these coins and learning so much! 

[powermad5000]

Hello and welcome to the forum! 

I am not sure who wrote AU++ on the cardboard flip, and I hope he did not pay that much to obtain this coin. I have a feeling this coin would grade as XF based upon that it is consistent with ANA grading standards for one of these in XF condition and has pretty much lost its original luster. That said, it is not an unattractive piece.

One additional concern I have for it is I am not sure if that is how the light is reflecting off of the plastic of the cardboard flip, or if the phone is interpreting the colors as is presented here, and whether or not this coin might look different out of the flip and in hand, but I think this might also have had a past cleaning and may only get an XF details grade if it were to be professionally graded. Such a details designation would severely limit this coin's value potential. I say this only because from what I can see is that the color is darker around the devices and lighter in the fields which typically indicates a coin that has had a previous cleaning and is retoning. A coin that is cleaned unless it is done so very harshly will typically have darker outlines around the coin's devices as the cleaning cannot reach into these areas due to the relief of the coin. It was considered acceptable by early collectors around this era to clean their coins to keep them looking new, but that practice has been abandoned, is now frowned upon, and collectors at this time look for unimpaired examples to pay premium for their collections.

Currently, this coin in XF lists in the price guide as $800. That is for a solid numerically graded example. If this coin were to receive a details grade for a cleaning, it's value would drop to somewhere between VG and F and value around $450-$500.

Sorry to be the bearer of what could be bad news, and I would only hope the coin out of the flip appears different than shown here and is not cleaned but that is something we all deal with in this hobby and it can be hard to avoid sometimes.

Also, my condolences on your recent loss. 

 

Edited October 8 by powermad5000

[Moxie15]

If I may,

If you do not need money right away, before you sell anything LEARN. Asking here is a good start, but remember most here play in the very deep end of the pool. The cost of third party grading may cut deeply into what you can get for the coins in the long run, or it may help, it is often a shoot. You also must consider what you may want to keep as in the future it would be something to bring you good memories or great joy to pass on to a child or grandchild. My, and my wife's family never kept anything from previous generations so there is nothing to connect us to our ancestors. 

I will shut up now before I start ranting.

Just a thought.

[RWB]

The coin is a nice low-end EF (it is noticeably inferior to the sample Coinbuf posted - but that's more a matter for experienced collectors). NGC would likely grade it "EF." 1860-O is comparatively common in circulated grades and a dealer might offer you 2/3-rds of the price on the holder.

I suggest you and your sister examine (but do not wash or clean) all the coins you inherited, then ask questions about them to forum members. This will give you a much better feeling for the value and help prioritize certification options. Do this before submitting anything to NGC. (Members love to see new, freshly presented coins, so don't fear their becoming annoyed.)

Edited October 8 by RWB

[MiriamLJL]

[MiriamLJL]

[powermad5000]

Thank you for these closeup pics. Note the color change around the star where it is most pronounced, but that same color change in all the areas around the devices and numerals. I would say there is a very high probability that this coin had a previous cleaning. I would proceed with your options based on that I feel confident that this coin would grade as XF details and its value as I stated in my first response. Also, bear in mind that the figure I stated would be most likely a best gavel price at online auction. If this were in a slab with a grade of XF Details - Cleaned, a dealer would most likely offer you only $400 or maybe even less.

[RWB]

Posting photos instead of screen grabs will vastly improve the ability of members to give you dependable information.

[The Neophyte Numismatist]

It's so nice to see someone post a coin that IS actually worthy of submission.  Sorry to read of your Dad's passing.  It looks like you are left with some nice coins.

I will say this - TAKE YOUR TIME.  The person that is in a rush to sell coins always loses.  You want to get the most for your coins, so this will take time to sort them, and figure out your pricing.

[Henri Charriere]

MEANWHILE, SOMEWHERE IN THE TWILIGHT ZONE...

🐓  :  May I cross-examine the witness?

Q.A.:  I don't see why not.  Just take it easy...  she's a Newbie.

🐓  :  No, Not the OP. The lead witness, @Coinbuf .

Q.A.:  He's already got us blocked 🚫.   Guess it can't do any harm... GO AHEAD!

🐓  :  What I would like to ask our much-esteemed colleague, and I know this is highly irregular, is:  seeing as how your coin is close enough to the OP's in grade... in the absence of the Actual Retail Price you paid for yours, if, as volunteered by another member, the coin would likely grade Details -- whether EF or AU -- would it even be worthwhile submitting for certification? 

I can understand the appreciable difference in value posed by a coin which may straddle the significant divides amongst the various Mint State strata, but that decision does not present itself at the broader lower grades to an extent which would justify an additional [superfluous] expenditure of money.

I myself do not see AU as being in the cards and, intact denticular structure, notwithstanding, when coupled with significant wear, places this example within the sphere of IMNSHO, squarely within upper VF/lower XF territory.

As it is, the once promising figure as noted on the holder has been reduced to, not half, but as much as a third as much, which to me precludes meaningful certification.

I agree in spirit with what @Moxie15 has stated; I would, likewise, urge further study.

I am disappointed in the expression of an assessment using the distinctly pejorative, stinging criticism, "noticeably inferior," to describe a state of preservation -- and condemn its casual use, as here, to describe a shortcoming in mixed company.

I thank you for the courtesy of your time and consideration and remain,

Your humble & obedient servant,

Henri Charriere,

Seasoned Member, Rank Amateur & Rising Star 🌟