Pricing on the 1891 Philadelphia Morgan $ MS65?
Dropdaflag
Posts: 809 ✭✭✭✭✭
I have come across an unexpected quirk in the 1891 Morgan pricing in MS65. While the MS64 gained 27% in value and the MS66 gained 50%, the MS65 has lost 68% over the last 21 years. What happened? Is there anybody out there that was in the hobby for 30+ years that might know the reason? Inquiring minds want to know.
0
Comments
Maybe an influx of submissions? Other than that I'm not too sure.
Type collector, mainly into Seated. -formerly Ownerofawheatiehorde. Good BST transactions with: mirabela, OKCC, MICHAELDIXON, Gerard
Population shift, gradeflation in the 64-65 range, and/or the 65 having been overvalued.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
I believe that the ms64's are being heavily promoted today- moving them from $350-> $550 today.
The ms65 took a really big hit some years ago when grey was 6k or so on both 1891 and 1892. Then cac price guide came out and CAC pieces were worth the $5-6k range while the non stickered kept dropping to eventually $2500 or so. Today they continue to fall.
ms66's are top tier and just trade on their own market
As they say, sooner or later the market corrects itself. I saved some old greysheets, 15+ years old and after reading this post took at look. The 91P jumped 10X plus in price from 64 to 65. That's some hike for 1 grade point!
. Highfill did note although a high mintage a tough date above 64 that was heavily bag-marked, had poor luster and weak strikes. Maybe folks don't want to pay for that 1 point on a coin that maybe is not that nice and borderline 64.
Better date but never considered it extremely rare as noted in prices MS64 and below, my grade range
The 64 to 65 big jump at the time when I bought this one limited me to the 64 grade.
Finding a 91-P with such beautiful color also made it extra easy to pay a nice premium for.
It has lost value since then, but I still haven't seen another with this much color.
Still happy to have it today.
Finding something that is unique and/or better then the normal/average coin out there is what makes collecting so interesting and exciting, esp when it fits your price range. I found this MS62 on EBAY & made sure I bot it. Little baggy but superior luster & strike. Rev is semi-PL.