WYNTK---Rim Dings On 1889 CC Morgan
0

11 posts in this topic

supertooth   
  • Member
  • 999 posts

Before I get to the rim dings, let me update all of you on my Doc's Walkers Registry Set. Have finished posting pictures of all 62 coins currently in the set---with informative descriptions---all available on the Gallery. If you are interested in picking up a few tidbits about Walkers or just looking at some fairly decent coins, please avail yourself of this set. Please enjoy!

 

Secondly, would like to tell all of you that I finally joined PCGS with my son, Dave. I paid for both of us to join and submitted my 16 coins. In everyone's learning curve, one needs to expand his or her knowledge. This was done as an experiment on my part---not to be disloyal to NGC. The results went well. I had certain things that I needed to know about PCGS for a future WYNTK thread on the TPGS. A method to my madness if you will. I have also just received my latest submission back from NGC. Out of 26 coins, my 18 coins turned out very well. I allowed for Dave's learning curve and he received 3 BB's out of the 8 coins that he submitted. Many of you would question WHY I would let my son send in coins that I felt might be BB? Answer is just that when you lose your OWN money, you tend to learn quicker and pay attention to Dad a little more.

 

OK---This is an original 1889-CC Morgan. I first saw it on Yahoo as a Buy-It-Now for $900. It didn't take me long to borrow the cash from my rich daughter---paid it back in seven days with interest---and punched in the keys to buy the coin. Its dark color led me to believe that it was a totally original piece. My guess of grade was exactly as NGC slabbed it at an XF-45.

 

Take a look at the Obverse and Reverse pictures.

 

$1_1889CC_EX45_Obv.jpg

$1_1889CC_EX45_Rev.jpg

 

The obverse is free of any rim dings. The coin is a right-on-the-money XF and has the normal small circulation marks commisurate with the XF grade. However, the reverse has rim dings at approximately 4 o'clock, 7 o'clock and 9 o'clock.

 

This coin had been taken to the Baltimore Show for same day grading along with the 21-D Walker that I talked about in a previous WYNTK thread. This coin did indeed slab for my $55 fee paid at that time.

 

Why did it slab? My educated guess is this. The coin was original. It had nice color. It was a rarer coin. Its obverse was not affected by the dings, and yes, if I had been an NGC grader, I would have slabbed the coin, too. IMHO as a subjective thinker, I would have put it into a holder 100 out of 100 times. Simply put, the rim problems were very much overshadowed by the overall positives of the XF coin.

 

Now some may say the dings should have kept it from being holdered. Again, that would be the subjective right to think that way. How many imperfections is one too many? Who knows? That's the million dollar question sometimes. If the coin had been uncirculated, the dings may have been looked at differently. Again, one should judge each and every coin---one piece at a time---on its own merits. Plain and simple as that.

 

In the near future, I will continue to try and let you see some more of my coins---that either did make the grade at NGC or, for whatever reason, did not make it into a slab. Bob [supertooth]

 

 

Share this post


Link to post
Share on other sites
ibyandsellsmith   
  • Member
  • 930 posts
  • Location: Harrisonville, Missouri.

I think body bagging a coin for rim dings, is stupid to begin with, it's a normal process of circulation. If the coin was uncirculated than, maybe, but a circulated coin should never be body bagged for rim dings. IMHO.

P.S. I would say that 89CC was one heck of a pickup at $900.00, do you think he got it back in a bodybag from PCGS or something I mean dang! he screwed his self on that deal.

Share this post


Link to post
Share on other sites
cpm9ball   
  • Member: Seasoned Veteran
  • 14,311 posts
  • Location: South Florida

First, let me congratulate you on the "perfect" NGC submission, 18-for-18. Also, I am looking forward to the results you get from PCGS and the content of the WYNK thread regarding it. I have, from time to time, thought about joining PCGS, but I felt that their membership and grading fees were too high.

 

That 89-CC is really nice, and I think you got a GREAT bargain. I haven't seen one similarly graded for anything less than $2,000. Way to go! Also, I agree with your opinion about grading each coin on its merits. Had that been a common-date MS coin, it probably would have been bagged.

 

Thanks for sharing this with us, Bob!

 

Chris

Share this post


Link to post
Share on other sites
WoodenJefferson   
  • Member: Seasoned Veteran
  • 24,851 posts
  • Location: Fibonacci φ spiral

The rim has served its intended purpose and that is to help protect the coin's elemental surfaces from abuse. Just how much allowed is always the question and after seeing this particular Morgan it helps to determine exactly what is acceptable for this grade and series.

 

Thanks for taking the time Bob.

Share this post


Link to post
Share on other sites
Phyton-migration   
  • Member
  • 1 post

 

I have a single large rim "ding," or more appropriately "nick" on a 1852 double eagle. Otherwise the coin is in great condition. PCGS wouldn't slab it. Wondering if there is anything I can do to improve my situation. Its a potentially expensive coin. Hurts! Out of eight gold coins I submitted to PCGS, five were not slabbed. Costly lesson. Sugggestions appreciated.

Share this post


Link to post
Share on other sites
Bruceswar   
  • Member
  • 8,189 posts
  • Location: Mesquite, Tx

I have a single large rim "ding," or more appropriately "nick" on a 1852 double eagle. Otherwise the coin is in great condition. PCGS wouldn't slab it. Wondering if there is anything I can do to improve my situation. Its a potentially expensive coin. Hurts! Out of eight gold coins I submitted to PCGS, five were not slabbed. Costly lesson. Sugggestions appreciated.

 

Once the ding is there not much can be done. You might be able to have the coin "fixed" for a fee.

 

Coin Restorartion

 

I have heard these guys can do wonders to "fix" a coin. Some coins can truly use it.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
0