Value of 1880 S MS-65 Morgan
Tyrock
Posts: 311 ✭✭✭
Hope everyone had a nice Christmas. Was looking over my papers last night and I have coin price magazines going back to 1986. I got to thinking about my PCGS 65 1880 S Morgan. What would that coin in that grade have cost me over my years of collecting? Putting aside the fact that grading standards have changed, here's what the price guide say about a 65 Morgan. By the way, I started collecting in 1978 and I wish that I had price guides going back that far. (All prices are from Coins or Coin Prices magazines).
2005 $165
1999 $110
1997 $110
1992 $130
1990 $250
1989 $430
1988 $390
1987 $600
1986 $770
So it would appear that if you purchased the 65 back in 1986, prices went steadily downhill. And I find today's price of $165 surprising seeing that we've been in a bull market. Any thoughts?
2005 $165
1999 $110
1997 $110
1992 $130
1990 $250
1989 $430
1988 $390
1987 $600
1986 $770
So it would appear that if you purchased the 65 back in 1986, prices went steadily downhill. And I find today's price of $165 surprising seeing that we've been in a bull market. Any thoughts? 0
Comments
Editted to add: Welcome to the boards!
As you noted, it's possible that a 65 graded in 1986 could be a 66, maybe even a 68 today. Back at the beginning of third-party grading, it nearly took an act of Congress to get a grade higher than 65. So some of those 65's could have done very well.
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
<< <i>Putting aside the fact that grading standards have changed, here's what the price guide say about a 65 Morgan. >>
Would standards for this particular issue change much tho? Right now the PCGS pop for a 80-S in 65 is over 26,660 coins; hardly an issue worth messing with gradewise. Also because of strike is this one of those no brainer coins for the graders to get right? If one sent in 100 raw ms65 coins would they get back 1-64 1-66 and 98-65's OR would you expect the more typical 5-64 5 -66 and 90-65's?
<< <i>
<< <i>Putting aside the fact that grading standards have changed, here's what the price guide say about a 65 Morgan. >>
Would standards for this particular issue change much tho? Right now the PCGS pop for a 80-S in 65 is over 26,660 coins; hardly an issue worth messing with gradewise. Also because of strike is this one of those no brainer coins for the graders to get right? If one sent in 100 raw ms65 coins would they get back 1-64 1-66 and 98-65's OR would you expect the more typical 5-64 5 -66 and 90-65's? >>
If a person had 100 MS65 slabs from 1986 that had never been picked over, I'd guess that a person would get back:
5% 67
25% 66
65% 65
5% 64
At 1986 prices, that person would still be in a deep hole with only the 67's anywhere close to break even. This does not factor in 20 years of inflation in everything else. Factoring in everything the person might have 5% to 10% of the buying power they had in 1986. If a person took 100 MS65's out of a high volume dealer's inventory today, I'd guess:
5% MS66
75% MS65
20% MS64
A good number of those 64's would make it on the second or third try, but those grading fees would hurt. Of course, some inventories would do better than others. Many coins are priced accordingly on the upside, almost none on the downside.
Off topic, but related, I was going thru my records and I was suprised to see that some Walkers I bought in 1995 are flat to down in price. Many similar Morgans in grade and commoness, are all up, some up a good amount. A lot of other collector coins are also flat to down, despite the recent upturn.
Standard disclaimer: Past performance is no guarantee of future performance.
Those coins were worth more in the late '80's because the graded population was only a fraction of what it is today. As a result graded examples (not raw examples) of the date were scarcer than they are today.
Authorized dealer for PCGS, PCGS Currency, NGC, NCS, PMG, CAC. Member of the PNG, ANA. Member dealer of CoinPlex and CCE/FACTS as "CH5"
2 years ago my local dealer picked up a deal of 6 or so original rolls of 80's dollars. Out of those rolls, maybe 2-1/2 rolls worth came out with grades of 65 and higher. I bought 40 pieces of the PCGS 65/66's after the 67's had been plucked out. Average grade was probably 64. Funny that they didn't seem as good raw, but once in the holders they seemed higher quality...isn't that always the case!
roadrunner