Inquiry on Morgans
logger7
Posts: 9,028 ✭✭✭✭✭
Someone asked me about these as to value, I said he should join the forums.
My response was... "The first is dubious especially with regard to the money grade. The others are accurately graded IMO." But no reverse, so hard to say.
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Comments
I once had an INS 65PL go 65DMPL. That was the only one that went up. In the other 10 DMPL ones I have owned, not a single one was even close to PL today. Most were one sided PL. INS has generally been one grade high, but today, at least 2 grades high. Skip @Insider2 was one of the graders with these INS coins. I used to send them to him at ICG for a crossover. Once in a while they did cross, but not often. (And he was the one who graded them so I was trying for the nostalgia upgrade!)
The standards for PL coins have changed over time. Way back then "Semi-PL" was even a designation.
As is the case today, we can find various depth of mirrors between dates and TPGS's. Best to develop your own personal standard after examining what's out there from the TPGS's.
I think the holders these coins are in contribute to their value.
As far as value.... check auctions... best way to get current value... be sure coins are in the relevant holders as well...It does make a difference. Cheers, RickO
As far as I could see from auction records, the VAMs did not add much, so pricing these around Greysheet minus 10-25% made sense to me. The better coins were worth around $100 by that estimation, give or take a little.
Factor in "early TPGS certificate/slab collectors" too. Defunct TPGS were once a part of numismatic history. One day a Compugrade or INS slab may be worth as much as a black insert slab from an ATS. I an one of those collectors.
None of the VAMs are worth premiums, so price these as you would unattributed coins.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
When you are ready to pay the price of a black NGC for either of those two holders. please give me a shout. I'll sell you as many as you want!
As I posted ONE DAY...
What I didn't think was necessary to post... PERHAPS A VERY LONG TIME IN THE FUTURE WHEN ALL OF US ARE DEAD!
And finally: My use of the word MAY covers all the bases from today and into INFINITY.
PS I have several examples of these holders already. What does a black label slab cost?
What does a black label slab cost?
At least twenty times the grading fee back then.
$40-$90 per. congrats
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Very cool holders, those INS holders are not seen very often, in fact I'm not even sure that it can be listed on ebay and some auction sites in that holder. But all of those will appeal to collectors that like those older holders like myself.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
There are at least 3 for sale on eBay right now, all over-graded and all WAY overpriced. No offence to Skip of course.
Dealers and collectors did not like this approach. A coin like I described was not worth 65 money. That is the reason that a group of coin dealers joined together to form a Commercial Grading Service - PCGS, that was backed by coin dealer members and a strong guarantee. Their grading put a value on a coin. Within a short time ANACS had to adopt NEW grading standards to get with the program. Their 65's became 63's! INS went out of business. We did not change our strict "technical" grading standard at all while I was there; however at the time it went out of business, I considered it to have become just another worthless "fly-by-night."
One of my favorite stories concerning "commercial" grading happened when I went up to a person and told him he was slabbing coins with altered surfaces. I showed him one and said they were all over the bourse floor. His reply was, "So what, its only an 80-S!" He had a good point. Who cares, an 80-S in high grade was common and virtually "worthless" in the commercial market among dealers.
BTW, I think most of us posting on CU will agree that we can grade any coin and back up our opinion. What many of us cannot do is place an actual value on a particular coin because we are not in the day-to-day trenches monitoring the "action." There are folks here who can do both. I'm NOT one of them.
Interesting, I don't sell on ebay or buy very often anymore but I seem to recall that some time back sellers couldn't show a pic of any slabs (or mention the grade or name of the grading service) other than PCGS, NGC, and ANACS. Either I'm remembering wrong on that or ebay has relaxed this rule.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
I met the fellow today who was selling the coins his father had bought.
The father had paid: $450 for the 1878 7tf A-64 in 6/96; $495 for the 1883 o/o Morgan in A-64; $395 for the 1887 A-63; $695 for the 1890-s in A-63; and $395 for the 80-s INS 65 DMPL. This was one of the letters from the dealer.
Woof. I hope you were gentile with the news. I don't know that these were ever worth anywhere close to this. This was just a couple months before the Top 100 VAM book came out in August 1996. None of these were in the book, all were known at the time to be common, and demand for even the Top 100 hadn't yet peaked.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
I think he was resigned to the fact his father had paid too much; honestly he said he probably would too if he started collecting, it's a tough field for many to get a grasp of in terms of what are and are not good values. I gave him $450 for the group which I figured was fair. And the dealer who ripped off his father is probably long gone, a Mr. Joseph Russo with "Nationwide Numismatics".