1878-CC Morgan Dollar - What am I not seeing?
ManifestDestiny
Posts: 106 ✭✭✭
I was watching this 1878-CC Morgan Dollar on Heritage and it only sold for $408 including the buyers premium. It is PCGS MS64 with what looks like some nice color. What am I missing? Why so low? Still learning and this one has me confused as I thought it had some desirable characteristics.
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Comments
Kind of dull luster on the obverse and the toning is not all that bad, but I don't think there is a huge amount of eye appeal with this one.
I would say that toning would be a negative or at best neutral to most people. Certainly it's not worth any sort of premium.
It looks fingerprinted or wiped in a few areas of the slab shot which also doesn't help.
Some people appreciate that kind of tone...some don't. It really depends on the viewing audience.
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I like the color on it. Pretty good price for what it is imo. Maybe the hits on the face held back bids.
If you blown up the photo, you'll see a fair amount of hits in the prime focal area. The toning, to me, is almost a negative so eye appeal points are lost to many. I'd summarize by saying it's a low end MS64 that no bidder thought was worth full retail.
Louis Armstrong
it is currently up for resale by the owner...which is probably the auction house?
Probably got a "bump" for color.
A silver dollar "expert" told me yesterday (while grading a roll of circulated 78-cc's in VF to AU) that he believes the 78-CC Morgan is an overrated date that can be found in all conditions at most coin shows. Anyone wish to confirm his opinion for me?
A lot better examples out there and this is certainly not very pleasant to view. I recently sold an edge toned 78cc for $480 on ebay (MS64) which had a lot more luster and pizzaz.
bob
Coin looks fine to me, but not the greatest eye appeal.
Someone got a good deal.
IMO the obverse color is a negative. It looks like doctored toning. If the obverse was white like the reverse instead of muddy brown, it would have brought more.
@colonialjohn you laughed at my question:
"A silver dollar "expert" told me yesterday (while grading a roll of circulated 78-cc's in VF to AU) that he believes the 78-CC Morgan is an overrated date that can be found in all conditions at most coin shows. Anyone wish to confirm or deny his opinion for me?"
Will you try to answer it based on your experience with Morgan dollars? Thanks!
For me it is the eye appeal of the obverse of the coin, it just isn't very attractive, I would imagine that is what kept the price down.
No, Heritage allows you to immediately put your purchases onto their site for offers. Could be the House, but could be a regular buyer.
It's an extremely common date in all grades except PO01! Mintage well above 2 million. Only thing it has going for it is that it's a first year Morgan type dollar. 13,000+ in flat pack GSA's, and 61,000 GSA hardpacks. The rest of the 2+ million were put into circulation back in the day.
bob
I don't care for the color and the finger prints are a big turnoff for me.
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@AUandAG said: "It's an extremely common date in all grades except PO01! Mintage well above 2 million. Only thing it has going for it is that it's a first year Morgan type dollar. 13,000+ in flat pack GSA's, and 61,000 GSA hardpacks. The rest of the 2+ million were put into circulation back in the day."
Thanks that's enough for me.
Poor eye appeal, but then I don't like any toning of any kind. I like blast white MS coins, like they were minted. To me toning is worse than most dings, scratches and bag marks.
Bluesheet on that coin is only $400. Greysheet is $450. And common date Morgans have been very weak and below sheet for months now.
The only thing you're "missing" is a current price guide.
Not attractive... fair price for what it is... Cheers, RickO
agreed, for a 64 it's really nice overall.
Would a bean have made a diff here, or will they not bean it if a fingerprint is obvious?
Thank you for all of the input. It is a learning experience to hear everyone's perspective.
I agree that one does not have the eye appeal. It looks like a soaked bread
Best place to buy !
Bronze Associate member
Auctions are the best (only) place to see the true value of a coin. This is only true of larger auctions, not the farm equipment auction where the farmer had a few coins stashed under the bed. This shows that there is still softness in the Morgan Dollar market cycle. This is especially the time to be picky.
The knife fight Miss Liberty was involved in left a lot of scars. These enlargements show only a few of them.
The coin is likely a MS-62, and nothing more. The tarnish is a splotchy mixture of fabric and moisture damage, that many likely find unattractive.