redfield morgan coins

[Guest]

I have a few redfield coins and I am seeking some advice.Redfield coins were origonaly graded buy Paramount coin corp if I have these coins regraded will they lose in value by being in a different holder.These coins are currently graded as MS60 but have doubling clearly at the date. So would regrading be a bad or good idea?

[paigow_johnny]

Ooooh...one of my favorite topics...Redfields.

 

I presume the one you're talking about is in the black slab. What's the year ??

 

I don't have a black slab...have seen only a few...they will generally grade 60-63 (will tend toward 60) based on what folks who know more about them have told me.

 

In my opinion, they lose collector value if you crack them out of the Paramount holder...just like GSA dollars do. Once again I'm looking at it from collector appeal and not necessarily $$$$.

 

Unless it's a rarer date or a known VAM variety which would significantly raise the value if it was graded 62-63, or if it's in really cherry condition and you don't care much about the "history" of it staying in a Paramount holder, I'd say keep it in the original slab and sell it to me

[DWLange]

Just so y'all know, NGC will label Redfield coins as such when they're submitted in their original holders. You'll find numerous such listings in our online Census for Morgan and Peace Dollars. Of course, NGC grades the coins without respect to the grade that appears on the original package.

[paigow_johnny]

Yes I've seen that...as well as the ones from across the street for GSA dollars. In the whole "buy the coin not the slab" argument...there's something about those original slabs that appeal to me from the collector/history perspective.

 

That's the beauty of the hobby...whatever floats your boat.

 

Keep up the good work.

[paigow_johnny]

And bbrice....speaking just for myself...I would tend to pay a few extra bucks for a nice Redfield in a cherry original holder...and I see this again and again on Yahoo and ebay auctions. Then again, if you really want to know the TRUE market value and grade of the coin, you can't rely on the Paramount "grade". I don't know of any pricing guide that discusses original Redfields.

[Guest]

They coin in question was sold to me in a black paramount holder.it was sold to me as a vam 11 1880 /79 -s and I agree. i showed the coin to a local dealer with 20+ years in the biz and he agreed as well.I think that comparing it with other coins in my collection it will grade 62 might push a 63.

[Guest]

can you tell me what the black material is made from.all of the redfields I have, it looks like the back dye is bleeding onto the coin around the edges.

[IrishMike]

Rumor has it these were stored in his basement along with jars of canned peaches and some how they intermingled.

[paigow_johnny]

Don't know what the slab material is...betting that since they were done in the mid 70's, it probably isn't completely "safe". I have 4 Redfields...all in red slabs...they all have touches of toning around the rims, but to me that's part of the Redfield charm.

[Guest]

So if this is true about the holder not being totally safe it returns me to my first question,should we be cracking these out and get a more accurate grade and protecting the coins better? or is the holder give the coin the redfield touch we are all drawn to. What ever happened to the paramount company anyway.

[paigow_johnny]

Well I guess it's gonna boil down to personal preference. For me it's not as difficult a decision as you're facing...the 4 I own are all in red 65 holders, and there's no way they'd grade 65 anyway.

 

I really don't know for sure if the slab is "unsafe"...but for what I'm looking for, i.e. the "original" Redfield...I wouldn't crack 'em out. I guess I'm not that worried about the actual grade, nor would I mind if they'd continue to tone a bit. I figure they've been in those slabs for upwards of 30 years...another 30 won't kill 'em.

 

If you ever feel like selling, let me know

[Tootawl]

I have heard about the existance of Refield Morgans but don't know the whole story behind the coins. Is there a website that gives me the whole story....or at least the Reader's Digest version?

[Tootawl]

Concerning the original question, keep it in the original slab.

[IrishMike]

The Redfield Story

 

Redfield Link

[paigow_johnny]

LaVere Redfield also hated the IRS...story has it that when the family went to his house to start settling the estate, an IRS agent was in tow. They apparently found a note from Redfield to his family telling them not to let the IRS find out about his dollar stash.......

[Tootawl]

Thanks for the info! Another interesting coin story.

[EZ_E]

Question: I recently bought an 1890-S Morgan in the original red ms 65 holder. I paid $300. Was I took or is that a good deal? Of course it wouldn't grade ms 65. More likely 62/63.

[paigow_johnny]

I think it's a little steep. Go to ebay and do a search for Redfields...you can get a rough idea what some of them are going for. 90-S is a little rarer date in red slab, but $300 seems kinda high. One guy on Yahoo has one up for auction starting at 239.

 

Where did you get the 90-S from ??

[EZ_E]

I thought maybe I got hustled. Complements of Sunshine Rarities in Boca Raton, Fl. He got me on a Binion Morgan, too. Oh well, live and learn. He did sell me an NTC ms 70 Buffalo dollar for $175 though. That's not bad.

Thanks for the info. Still, I'm glad to have a Redfield. Actually, on second look, I think that it's at least a strong ms 63.

[paigow_johnny]

"Still, I'm glad to have a Redfield"

 

Then we have success, no matter what we paid. I know I paid too much for a couple of mine...but that's the rub...there's no real pricing guide or active market for Redfields from what I can tell. I always love telling the story behind the coins to folks who don't know it.

 

(I also have a couple Binions, and I KNOW I paid too much for them by market standards...but another really neat story I love to tell...I'm a Vegas rat anyway.)