PL MORGAN PRICING???

Mack

Hi,

I'm new to this board. My collecting/investing interests are PCGS/NGC slabbed CC'S and MS66 Morgans. I started about 6 months ago. I'm using the Greysheet to buy from dealers and auctions and haven't had any trouble getting nice coins. So far. The question is, since the Greysheet doesn't price PL coins how do you determine their value? PCGS's price guide is close to retail and the Bluesheet is for sight unseens. Any help would be appreciated.

MAck

barberlover

Hi Mack, Welcome. Les

Mack

Hi Les. Thanks for the welcome.
Mack

GAT

Welcome, but you making a big mistake if your trusting PCGS price guides. I suggest you use eBay's search engine to look at prices realized for close auctions..

coinkat

Welcome:

CC Dollars have experienced a fairly good run over the past 18 months. Good luck with your efforts.

boz

Heritage has auction archives you can use to check recent prices also.

FatMan

Here's a big fat welcome to ya!

The Bluesheet has PL Morgan pricing. Bluesheet is for sight-unseen certified coin pricing. As sight-unseen, the prices are quite low, but it will give you an idea of the PL premium for each date.

lava

Welcome Mack. Pls are a great value. A rough rule of thumb is to look at the lower grade in dmpl, so an ms64pl would be close in range to a 63dmpl, and a ms65pl would be close in range to a ms64dmpl. Hope you join the registry.

SeattleSlammer

Mack, whatever you do, don't think that Bluesheet means squat. Most agree that Bluesheet is the price guide for ugly, ugly, ugly coins. If you have a nice coin that you're selling and the potential buyer pulls out the Bluesheet on you, run for the hills! In fact, if I'm at a show and I'm offering a PQ high eye-appeal coin to a dealer and they pull it out, I usually get a big look of disgust followed by a huge, wow-you-must-think-I'm-a-moron laugh. BLUESHEET IS FOR UGLY COINS! If you bought a coin at the Bluehseet level, chances are it's either 1)UGLY!, or 2)the dealer was being chased by the mob and needed money immediately.

As for PL and DMPL pricing, depends on the date and mintmark. Greysheet has the DMPL asks listed, so you know that the PL would be less than that but more than the regular issue. You've probably noticed that many more common date CC Morgans are actually worth less or the same in DMPL as they are in regular issues in the low-mid MS grades. Don't ask me why, I'd still rather have the PL/DMPL one myself.

Bottom line, don't think you'll always get it at Greysheet. For the really nice coins, multiples of Greysheet are not uncommon. And the dealer wants to make something on the coin, too, so if he bought it at Greysheet bid, he may want more than ask. Often those margins are tiny. PQ coins set their own price levels.

Good luck.

Mack

Thanks guys, the input is appreciated.

SDCollector

Welcome Mack. I'm a new guy around here too. Nice icon.

islemangu

Welcome Mack. Goofy pricing guides in the hands of the collectors is bothersome. I think eye appeal is starting to consisently get the numbers and prooflikeness is hands down beautiful. PL eye appeal is/will be a higher premium. I like the prevous post on the average CCs worth same as PLs. Is now the time to get them or what?
I wish some of the technicrate database members here would start compiling ebay slabbed transactions along with Heritage data and others and start a new published pricing index. Or maybe these animals already exist but only in the hands of the pros