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Should I resubmit this 1878 CC Morgan Dollar

12 posts in this topic

It is absolutely impossible to tell anything from those pictures.

 

Do you have it in hand? Can you attempt to take better pictures?

 

I'd be willing to bet that if it is graded 55, there is some definite and observable wear.

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I'd be shocked it the coin went from a 55 to a 60 or higher. Regardless, have you checked to see what the value difference is between a 55, a 58 and a 60?

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I'd be shocked it the coin went from a 55 to a 60 or higher. Regardless, have you checked to see what the value difference is between a 55, a 58 and a 60?

 

I would tend to agree, but believe it or not, NGC graded it AU55. If it goes up just one grade that doubles its value. Might resubmit it, but I'm not sure. I'm new to the slabbing concept.

 

Mark, he posted this in the "post your most recent acquisition" thread in the US forum.

 

Thing - I'm not sure where you got that it "doubles in value" from, however. 78CC in 55 is listed on the NGC price guide (which is invariably high - expect a value much lower than this) at $215, in 58 it is $235, in 60 it is $280. Definitely not worth resubmitting!

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Just going by the monthly price list in Coins, at MS60 it would be around $400.00, double what I paid for it. Thanks for the advice. I'm glad I don't have to crack it out.

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Just going by the monthly price list in Coins, at MS60 it would be around $400.00, double what I paid for it. Thanks for the advice. I'm glad I don't have to crack it out.

 

The pricing information in the magazines is outdated. Based on auction records towards the end of 2014 through much of 2015, the auction prices were between $300-$350, so $400 would have been closer to expected dealer asking price. The prices are lower now. Retail is approximately $200-$225, maybe a bit more on a good day (in MS60 condition).

 

Edited: My analysis was skewed by PCGS Coin Facts grouping together UNC details coins under MS60.

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I have to tell you, I searched everywhere for an1878 CC Morgan and found nothing close to the price of $225.00 in MS60. They were all in the $375.00 to $400.00, and up. If you know of any below $300, I'd love to see it. Thank you.

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I have to tell you, I searched everywhere for an1878 CC Morgan and found nothing close to the price of $225.00 in MS60. They were all in the $375.00 to $400.00, and up. If you know of any below $300, I'd love to see it. Thank you.

 

I was basing it on the auction values in PCGS Coin Facts. Since MS60 is a very low grade coin and almost all are certain to have major problems (TPGs very rarely dole the grade out to Morgan Dollars), I didn't bother to check. Pulling up each individual listing, it looks like the data I was basing my estimate on included UNC details coins, which skewed the analysis. In any event, there are problem free MS61 examples in the Heritage Archives in both PCGS and NGC plastic at $350 from October 2016. A MS60 coin would be worth less.

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Just going by the monthly price list in Coins, at MS60 it would be around $400.00, double what I paid for it. Thanks for the advice. I'm glad I don't have to crack it out.

 

Your cost in the coin has nothing to do with the difference in value between different grades.

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