Need Some Help In Wholesale Valuation Of A GSA 1882-CC Dollar
Prethen
Posts: 3,452 ✭✭✭
I'm helping a friend of a friend out in valuing a collection she recently acquired. She wants a realistic value when she goes to sell the items to a dealer, not retail. For the most part, I'm fairly confident on valuing the vast majority of the collection. However, the GSA morgan has me scratching my head. I haven't seen the coin in person but will soon and I'd like a pretty good idea of the likely valuation range ahead of time.
I've attached the photos she gave me. They're not that great but good enough for a rough go at a valuation. You can tell this is simply labeled as "Silver Dollar" (not Uncirculated) by the GSA and they noted that it's a "cull". I think the obverse is a little fugly. I'm not sure what's going on with that spotting (any ideas?).
I did try looking through recent eBay sales, but only found one possible example while all others were for the better GSA holders.
What would be a reasonable wholesale value on this (let's assume the sight-unseen market)?
Comments
$250
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I'd go a bit higher than Mr. Feld and say the dealer will probably wholesale it for $290 minimum given there's one dealer with a bid of $295 on any BU (doesn't need to be GSA hoard) 82-83-84 Carson City issue.
It is less desirable as a result of the toning, but the resulting difference in value is negligible.
Given how liquid these are, I wouldn't take less than $250 from a retail dealer and would push to get more around $275, which should be attainable, especially assuming it has the box and card.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
The problem with GSA is them folks can't grade. No problem. MFeld is in the park. if you came to my shop I would base my bid on grade ( my grade).
Do you guys think that this coin is a candidate to break out of the GSA holder and go for a proper dip?
No, its maybe a 63. No point to dipping it or grading it or anything. Just sell it as is and save the grief/risk.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
Tough call.
Yes a dip may improve the eye appeal, but you lose the GSA holder.
I’d probably keep it as-is, but I’m also the guy that still has nice coins in old ANACS holders, etc.
I’m also assuming you’ve already evaluated it and that you feel it’s not worth sending in to get it graded in the original holder?
NO, it's likely it will not improve with over 100 years of being in that condition. I would typically pay $275. Does she have the box? If no box then $250 is pretty close.
bob
Not a tough call in my opinion.
My answer is an easy "No".
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Great response thus far, guys. Thank you.
I'll be seeing the coin in hand later this week.
You send it to ANACS/NGC/CACG/PCGS) and they will grade it. I have sent GSA hard pacs to all except PCGS (I don't have a membership with them). They can give you a realistic value. This is an UNc GSA and it has a value around 350-400. I agree with MFeld's value at $250.
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Don't crack it and don't get it graded. The common dates, '82, '83, and '84 really need to be 65's or above to be worth grading. There's a large enough market that the grading fees aren't worth it.
Anyone who wants a GSA 1882-CC will buy a much a better coin. MS61 and not more than $225. You called it yourself: coin is fugly.
Casual collector, mostly Morgans & Peace Dollars.
FWIW, for comparison/grading help, here is my MS63, still in its GSA holder; I think my coin has more visual appeal than the subject coin:
That's an underrated 63, IMO. I'd say 64.
Casual collector, mostly Morgans & Peace Dollars.
it's worth more in the gsa holder
No. But I personally had PCGS crack out 7 from GSA holders for grading.
These two I paid a little more than wholesale for. Some collectors ( and I don't blame them) want full retail for their coins, even without having a coin graded. That's where the fun begins ...
Even MS61's sell for more than $225.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I appreciate everyone's responses. Thank you.