I doubted a CAC NGC VF-25 1895-S Morgan Dollar I won at auction until I got it in the hand.
Greetings everyone, I hope you all had a wonderful Fourth of July holiday. A few weeks ago, I won a VF-25 1895-S Morgan Dollar through Heritage Auctions. The 1895-S is one of four coins I identified as a key coin in my Morgan Dollar collection. As is my custom, I always try to buy the key coins for my collection as soon as practical. In this instance though, my overzealous desire to buy an 1895-S Morgan Dollar could have easily resulted in a purchase I would have regretted.
Like many of you, I keep want-lists through many of the major internet auction sites. Several weeks ago, I received notification of a VF-25 1895-S listing through Heritage Auctions. The coin featured in the listing had attractive toning and even wear. Additionally, the coin had CACs green bean seal of approval. The only problem with this coin though was its high reserve. Notwithstanding, I placed it on my watch list. Often times I do this with coins that I do not intend to purchase to get a feel for the market. Part of the problem in purchasing a VF coin is the broad range of the grade (20-35), and value guides that list a single FMV for the grade. Obviously, there can be a world of difference between a 20 and a 35.
For the better part of a week, there seemed as if there was little or no interest in the coin. With a day or so left before the final hammer, I placed a minimum bid on the coin and almost immediately hoped that someone would out bid me. Would my heavy mouse finger get me into trouble again? In a moment of impulsiveness, I reasoned that since the coin was attractive, and it had CACs green seal of approval, that it was worth it. At any rate, I won the coin as its only bidder.
When I received my new treasure, I was amazed at how well the coin looked in my hand. The first thing I noticed was that the relief was very high for a circulated coin. All the dentils and lettering were sharp and well defined; furthermore, the devices while worn were as bold as I have seen for a VF coin. I can only imagine how nice this coin looked when it was first minted.
What could have turned into a regrettable purchase turned out better than I could have possibly imagined. Furthermore, the listing pictures did not do this coin justice. One problem with pictures is in taking a three-dimensional object and accurately converting it into a two-dimensional picture.
Love em or hate em, when buyers these days rarely see a coin in hand before they buy it; CAC offers a certain degree of assurance. That is accurate first hand grading and another set of professional eyes with the coin in hand looking for the intangibles that set a coin apart from the rest. Understandably, a trusted dealer could do the same for you without a sticker. However, when buying coins apart from the dealer, CAC, in my opinion, stands in well for a trusted dealer.
I do not go out of my way to purchase CAC verified coins. However, when one comes my way, I do give it some credibility. In the end, while some say that I am buying the sticker rather than the coin, I say I am buying the coin.
Generally speaking, impulsiveness and a lack of self-control meet with disastrous results. In this instance, things turned out for the better with a coin I am proud to add to my collection. I hope you like this picture of my coin that I assure you does not do it justice.
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