Spotted BU Morgans (including CC) - How does this toning affect pricing?
Prethen
Posts: 3,463 ✭✭✭
I'm evaluating a collection for a friend in which he has a number of BU Morgans, including an 1878-CC, that have tone spots. Some are a bit worse than others.
Assuming a coin is Choice, does its pricing fall to simply BU? How about near Gem? Assume wholesale pricing, that is, selling to a dealer (not retail).
I'm very curious as to the effect on the 1878 Carson City (the cheek as a lot of marks and there's some scuffing in the field, I'm thinking maybe a 62?).
Also, the 1878-P 7TF is the Slanted Arrow variety. I know that gets a bit pricier up the MS scale. What does the toning do to that pricing?
I am considering sending these in for conservation and then getting graded. Is it worth it or only on some of them?
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They all appear AU'ish anyway, so the spotting probably won't have too much of a detrimental effect.
How about some reverse photos?
From what I can see, MS62 looks about right for the 1878-CC. And other than the 1879-S (which looks AU) the others also look unc.
It’s not a given that the spots/stains can be conserved to a highly beneficial extent and I doubt it or grading would be worth the cost for most of them.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I can’t comment on pricing. Start them on the bay at melt and see what happens?
I have a low confidence level that they can be conserved. However sending for conservation may be your only good choice. That’s really sad the CC ruined like that. Perhaps a problem coin specialist would know pricing and might pick it up but at what? The only one I know of is deceased. A great guy, had a table next to mine. Showed me there is a market for problem coins (people buying from him).
Choice 1 - send in for conservation.
Choice 2 - blow out on bay starting at melt or try bin / make offer route. Spend proceeds on nice ASE MS69 or MS 70 CACG bullion coins. Make lemonade from lemons.
Choice 3 - sell to a problem coin specialist.
According to his post, they’re not his to start anywhere or at any price.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
With the understanding that I am relating my experiences only and am not advocating for any specific action regarding the OPs coins, I have had good outcomes (read: toning gone, coin looks fine) using e-Z-est to remove toning spots due to pinholes in mylar 2x2s. As always, YMMV.
Like Mason G said, for the ones with small spots on the rims a Q-tip dipped in E-Z-est and gently rolled on the spot will likely lighten them to a point where they are not distracting. Just try to confine the Q-tip to the spot and immediately rinse with water and/or acetone.
I have to wonder what caused the spots. Were these stored in a hot garage for a long time? Did something splatter on them?
On the e-zest will get some.
That is a classic 100 year old sneeze. Take Care...CC
If they are conserved by our hosts please share photos.
Just be careful with the 'zest, you don't want a nice big bright spot.
How does the toning impact pricing? For me its a moot issue bc I will not buy anything badly spotted like that. No go, thumbs down.
There may simply be a hole in the mylar. It's very common
All comments reflect the opinion of the author, even when irrefutably accurate.