GTG: PCGS 1894-O Morgan Silver Dollar - Grade Revealed! UPDATE - 4/22/23 RESULTS

ProofCollection

I'm considering sending this in for a re-grade/reconsideration so I'm looking for opinions on grade. This one is in an "old blue" holder. The first photos are from my flatbed scanner, the second are from my phone that better show the luster.
Updated to add: This is currently graded PCGS MS 6x.

anablep

This is a notoriously poorly struck date and judging from these pictures, it's difficult to give an accurate assessment of the coin's grade. It could be AU58 or MS63.

Here's my AU53 for some comparison:

ProofCollection

@anablep said:
This is a notoriously poorly struck date and judging from these pictures, it's difficult to give an accurate assessment of the coin's grade. It could be AU58 or MS63.

Here's my AU53 for some comparison:

Yours is really well struck!
I just updated the OP. It's currently graded MS 6x.

124Spider

I would have guessed AU58; to my eye, it's practically identical (in detail, not toning) to my PCGS AU58/CAC. So, my non-expert opinion is that it would not upgrade from MS6X.

7Jaguars

I was guessing 58 on the OP as well, as the cheek and obverse looks possibly "thumbed" and the reverse although softly struck looks to have a bit of contact on the eagle's breast. Good luck to you but would based on the pictures not submit again...

logger7

Absolute max on that coin would probably be MS62, since they have an incentive on even small upgrades could try reconsideration, but cac with an explanation of their thumbs up or not would be educational.

Coinscratch

62?

anablep

Upon knowing it's MS6? I would not try to resubmit the coin. Unless it has off-the-charts luster for the assigned grade, I'd enjoy it as is. Good luck in your decision. It's a really nice coin either way!

MFeld

The coin looks like a 62 with a shot at 62+ or even 63 to me.

gumby1234

I think its in a 63 holder. I dont think that I would resubmit.

kirkmink

Typical weak strike for the New Orleans mint. The flattened hair and loss of chest feather detail is typical. The relatively clean cheek and minimal marks in the fields in your scanned images said MS64 to me. The luster and overall eye appeal in your follow-on photos suggests it might have a shot at 65, but I say a solid MS64 is what you have.

ProofCollection

Thanks for the guesses. Based on this feedback I think it is worth submitting for recon. The (PCGS) price guide differential is $1250 60 -> 61 and I think there's a decent shot at this. +$2400 if I can get 62. NGC price guide is much different and probably more accurate. Not as much of a spread but still... Plus I can get a TrueView which I like to have for my higher-value coins. I think this is a eligible for MS61 or MS62. When looking at other MS60's there just isn't the large degree of chatter and marks you typically see on those which often look really beat up. 63 would be very optimistic. I just don't know how much of a hit this coin takes for the soft strike or toning and spot which shows more on photos but no so much in-hand.

dsessom

In some series, MS60 is a much sought-after grade because there are so few of them. With that sort of price differential though, I suppose it's worth a shot to upgrade it if possible. On a common date, MS62 would not be out of the question, but PCGS grades key dates to a stricter standard from what I have seen. It's a tough call.

mr1931S

@dsessom said:
In some series, MS60 is a much sought-after grade because there are so few of them. With that sort of price differential though, I suppose it's worth a shot to upgrade it if possible. On a common date, MS62 would not be out of the question, but PCGS grades key dates to a stricter standard from what I have seen. It's a tough call.

^this^

ProofCollection

@dsessom said:
In some series, MS60 is a much sought-after grade because there are so few of them. With that sort of price differential though, I suppose it's worth a shot to upgrade it if possible. On a common date, MS62 would not be out of the question, but PCGS grades key dates to a stricter standard from what I have seen. It's a tough call.

So is there a case where an MS60 is valued higher than MS61? Unless true, it doesn't seem to me that would be a reason to keep it in an MS60 holder if it qualifies for 61 or 62. I'm interested in anecdotes about this though if anyone has one.

MFeld

@ProofCollection said:

@dsessom said:
In some series, MS60 is a much sought-after grade because there are so few of them. With that sort of price differential though, I suppose it's worth a shot to upgrade it if possible. On a common date, MS62 would not be out of the question, but PCGS grades key dates to a stricter standard from what I have seen. It's a tough call.

So is there a case where an MS60 is valued higher than MS61? Unless true, it doesn't seem to me that would be a reason to keep it in an MS60 holder if it qualifies for 61 or 62. I'm interested in anecdotes about this though if anyone has one.

While there can be exceptions, an MS61 is extremely likely to bring more than an MS60.

dsessom

@MFeld said:

@ProofCollection said:

@dsessom said:
In some series, MS60 is a much sought-after grade because there are so few of them. With that sort of price differential though, I suppose it's worth a shot to upgrade it if possible. On a common date, MS62 would not be out of the question, but PCGS grades key dates to a stricter standard from what I have seen. It's a tough call.

So is there a case where an MS60 is valued higher than MS61? Unless true, it doesn't seem to me that would be a reason to keep it in an MS60 holder if it qualifies for 61 or 62. I'm interested in anecdotes about this though if anyone has one.

While there can be exceptions, an MS61 is extremely likely to bring more than an MS60.

With this particular coin, absolutely! A one grade bump is worth over a grand, so it's definitely worth a shot to send it again.

Edit to add: There is always the possibility that it gets downgraded to a AU58 as well, so it's a tough call.

LeeBone

Send it for reconsideration.
If it was mine I would. What's the worst that can happen, it comes back same as it was. Then you can ease your mind wondering if you're leaving money on the table if you ever decide to sell.
JM 2 Cents

MrBluster

From the images it looks very nice for a ms60. Maybe the luster is sub par, or marks that don’t show in the images. When the price jump is large, there is a reluctance to assign the higher grade.
Just my opinion.

logger7

If you look at the definition of an MS60, the coin usually has very little eye appeal or problems putting it on the edge of damaged. Maybe PCGS would conserve it?

gumby1234

Seems much nicer than a 60

124Spider

@LeeBone said:
Send it for reconsideration.
If it was mine I would. What's the worst that can happen, it comes back same as it was. Then you can ease your mind wondering if you're leaving money on the table if you ever decide to sell.
JM 2 Cents

I don't know how it works, but does "reconsideration" include the possibility of a downgrade?

If downgrade is a theoretical possibility, that would give me pause.

But I'm always happy to learn on someone else's dollar (haha, I crack me up), so I would be interested to see what happens.

blitzdude

MS60ish, RGDS!

ProofCollection

@124Spider said:

@LeeBone said:
Send it for reconsideration.
If it was mine I would. What's the worst that can happen, it comes back same as it was. Then you can ease your mind wondering if you're leaving money on the table if you ever decide to sell.
JM 2 Cents

I don't know how it works, but does "reconsideration" include the possibility of a downgrade?

If downgrade is a theoretical possibility, that would give me pause.

But I'm always happy to learn on someone else's dollar (haha, I crack me up), so I would be interested to see what happens.

Yes, it can result in a lower grade. If that does happen though, PCGS is supposed to offer compensation per their grade guarantee, so I doubt this happens much. It seems like sentiment varies, but I would rather have a coin accurately graded than under or over graded because the coin is the coin. I can understand those who want the highest grade on their slab possible because that tends to realize more value, but if it's based on an error then it's just a façade.

124Spider

@ProofCollection said:

@124Spider said:

@LeeBone said:
Send it for reconsideration.
If it was mine I would. What's the worst that can happen, it comes back same as it was. Then you can ease your mind wondering if you're leaving money on the table if you ever decide to sell.
JM 2 Cents

I don't know how it works, but does "reconsideration" include the possibility of a downgrade?

If downgrade is a theoretical possibility, that would give me pause.

But I'm always happy to learn on someone else's dollar (haha, I crack me up), so I would be interested to see what happens.

Yes, it can result in a lower grade. If that does happen though, PCGS is supposed to offer compensation per their grade guarantee, so I doubt this happens much. It seems like sentiment varies, but I would rather have a coin accurately graded than under or over graded because the coin is the coin. I can understand those who want the highest grade on their slab possible because that tends to realize more value, but if it's based on an error then it's just a façade.

Thanks!

I agree with this in principle.

But I take a bit of issue with the concept underlying your post, that there is such a thing as a single "correct" grade for all non-perfect coins. Especially in the range of AU58-MS62 (as the subject coin is), I very strongly suspect that if 100 truly expert graders carefully graded the same coin, there often would not be near-unanimity in the grade. The grading process is inherently subjective. I would be surprised if, in many cases (including and especially the subject coin), there would not be a significant distribution of grades for the same coin--who is to say which is "correct" and which is error?

So, for me, unless I was pretty confident that there was no chance of a downgrade, I would not be submitting my previously carefully-graded coin for reconsideration.

YMMV

ShaunBC5

I don’t know about all the right terms but can’t you get reconsideration but only reholder at same grade or higher? Maybe that’s only on crossovers?
If you can set the floor at the current grade it sounds like it’s worth a shot.
Good luck.

MFeld

@ShaunBC5 said:
I don’t know about all the right terms but can’t you get reconsideration but only reholder at same grade or higher? Maybe that’s only on crossovers?
If you can set the floor at the current grade it sounds like it’s worth a shot.

PCGS Reconsideration Service

RECONSIDERATION™ is a service from PCGS that allows you to submit your coins for regrading without the risk of a potential crack out if the coin does not receive an upgrade.
Why Reconsideration?
There's no risk of losing your original labeling if your coin does not upgrade
An increase of a plus grade could significantly increase the value of your coin
Add new services, like TrueView & Variety Attributions, to your old coins
You only pay the 'Guarantee Premium' if your coin upgrades higher than the current grade
Certification number remains the same

PCGS Regrade Service

The “Regrade” service applies to coins that are already encapsulated and graded by PCGS. If a customer feels that their coin may qualify for a newly recognized variety or warrants a different grade, but they do not want to remove the coin themselves, this service may be used. PCGS will receive the coin, note the grade it arrived, remove it from the holder, grade the coin raw. The coin will not return at a lower grade than it was received. If a coin is received as a PCGS MS65, it will be returned to the customer as a PCGS MS65 or higher; never lower.

7Jaguars

I suspect the possibility of a net grade as there are issues I pointed out that people are waiving by. Nice coin, but I can see the limiting factors I have already pointed out.
Anyway, keep us posted good or bad as to results if you do send it back in.

ricko

That coin looks to have the potential for an upgrade. I would submit it, especially since the coin value would be significantly increased. Cheers, RickO

ProofCollection

Update! I submitted for regrade and got a boost from MS60 to MS61. It still to me looks like it might still be eligible for MS62. Most 62'sare much more beat up than this in my experience. Would like to hear more debate about this. Perhaps the next step might be to send this back for restoration to try to clean up the toning?

ProofCollection

Here are some 62's for reference. I think if PCGS restoration could clean up some toning, there fields and devices don't have that many or that severe of marks like many of the 62's. The biggest gash is in the Eagle's breast, everything else is pretty minor.
A

B

C

coinkat

Take a victory lap at 61- if you don't like your coin at 61 sell it and move on

LeeBone

I’m not seeing a 62 on this one.
The 62’s that are shown are definitely a one point grade better IMO.
Keep it in the present holder and try for a Bean.

1madman

The coin has the flatness on the high points, and lack of luster needed for a MS62 quality. Cleaning off a small bit of natural (nice) tone isn’t going to fix this. I like the coin better as a top notch AU58. Save money and don’t dump more into a maxed out coin. I don’t see this stickering at CAC either.