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Need Help on Morgan CC coins 1880-1885

Started by Maniac1169-migration,

14 posts in this topic

Maniac1169-migration

Maniac1169-migration

Posted
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I recently went to a coin shop to have these coins (1880-1885 Morgan CC) looked at and while they were looking at them the guy that owned the shop offered me $1,850 for all six. i was sort of surprised how fast he offered me the money, but i told him i had to think about it. i asked him if they were worth sending in to get graded and he told me that they weren't because i wouldnt be cutting even because i would have to pay $30 a coin. he told me he was offering me the average value most coins like this were priced at. im unsure if he was telling me the truth or just new he could scam me. I am very new to coins and i really have no idea what they are worth. could i get some opinions on this. thanks

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truthteller

truthteller

Posted
Posted
I recently went to a coin shop to have these coins (1880-1885 Morgan CC) looked at and while they were looking at them the guy that owned the shop offered me $1,850 for all six. i was sort of surprised how fast he offered me the money, but i told him i had to think about it. i asked him if they were worth sending in to get graded and he told me that they weren't because i wouldnt be cutting even because i would have to pay $30 a coin. he told me he was offering me the average value most coins like this were priced at. im unsure if he was telling me the truth or just new he could scam me. I am very new to coins and i really have no idea what they are worth. could i get some opinions on this. thanks

 

Since you are new to coins, don't let the coins out of your sight. I highly recommend joining NGC for $99(and get 5 free submissions). Then, you can send the coins in for grading yourself, knowing full well the local coin shop didn't switch or "lose" your coins. In general, walking into a coin shop means you usually are getting less than the coins are worth. Be aware the 1880CC in high grade is worth $1000 alone.

 

 

 

TRUTH

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truthteller

truthteller

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really? 1,000 for the 1880? i forgot to mention that they are all in GSA cases and are uncirculated. Doesnt that mean they are automatically going to be MS60 and above?

 

 

 

In general, GSA CC dollars are uncirculated. NGC will grade them in the GSA holder and it is better to leave them in the holder since they are more saleable that way. Click on the "join" link for NGC and they will send you a submission package. It's rather simple and for $99, it's a good deal. You'll be very pleased. Then, when the coins are graded, you can shop the coins or sell them over ebay, auction, etc., knowing the value of the coins ahead of time.

 

 

TRUTH

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GAB

GAB

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Excellent advice TRUTH. I can tell you, the experience is well worth the $100 bucks, and I am guessing (sight unseen) that if a dealer offered you $1850, they are worth well over $2K to collectors - so you will ultimately come out ahead, and have a lot more fun!

GAB

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DaveG

DaveG

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To give you a frame of reference, here are the "buy" prices that Richard Riemer recently advertised in Coin World:

 

1880-CC - $482

 

1881-CC - $468

 

1882-CC - $190

 

1883-CC - $176

 

1884-CC - $175

 

1885-CC - $496

 

These prices are for "average" or "typical" CC coins in GSA holders (probably MS-63 or so). A dealer would pay more for nicer coins (MS-64, MS-65, etc.) or attractively toned coins.

 

By the way, I've heard that the market for "typical" GSA CC Morgans is a bit soft right now, so you might get a bit less, if your coins are "typical".

 

As you've probably noticed, Riemer's advertised prices for the five coins total $1,987 or only $137 more than you were offered. If your coins are "typical", it might very well be a fair offer, considering the cost of your time and the expense to have the coins graded by NGC and to sell them on eBay.

 

Of course, if your coins are nicer, you would get more for them and the way to find out is to have them looked at by an expert or to have NGC grade them.

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Beijim

Beijim

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I highly recommend the Collector's Society approach in which you send the coins to NGC yourself. You'll get five graded for free and 10% off the fee for the sixth.

 

If nothing else, it'll be educational and fun. You've seen the coins beforehand and can guess the grades, then compare to how they come out at NGC. Plus, you'll enjoy the Collector's Society benefits for the rest of the year.

 

Best of luck whatever you choose!

 

grin.gif

Beijim

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EZ_E

EZ_E

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I highly recommend the Collector's Society approach in which you send the coins to NGC yourself. You'll get five graded for free and 10% off the fee for the sixth.

 

If nothing else, it'll be educational and fun. You've seen the coins beforehand and can guess the grades, then compare to how they come out at NGC. Plus, you'll enjoy the Collector's Society benefits for the rest of the year.

 

Best of luck whatever you choose!

 

grin.gif

Beijim

 

 

Great advice! And, as stated, it will be an educational experience.

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James_OldeTowne

James_OldeTowne

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Without seeing the coins of course, my guess is you got a pretty average offer for the coins WITHOUT GSA boxes. They are worth a little more if still boxed, and even slightly more if they have correct serialized inserts. And if you have the original USPS packaging, add still another slight premium.

 

James

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truthteller

truthteller

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The packaging adds a few bucks. Usually, the original blue holders are $10-$20 additional. But really, if you want to sell the package for good money, sell it as an original deal, once you get the coins graded. Collectors tend to oogle over original packaging, complete with coins.

 

 

 

TRUTH

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HaydenTubbs

HaydenTubbs

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The packaging adds a few bucks. Usually, the original blue holders are $10-$20 additional. But really, if you want to sell the package for good money, sell it as an original deal, once you get the coins graded. Collectors tend to oogle over original packaging, complete with coins.

 

 

 

TRUTH

 

and ORIGINAL coins wink.gif

 

gsarainbowcc1.jpg

gsarainbowcc2.jpg

 

 

 

Hayden

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