To buy or not to buy: this 78cc PCGS? Age of old holder?

certifiedsilverdollar

Would you buy this coin 1878 CC Morgan MS 63 in old PCGS holder, with the plan to resubmit for upgrade to PCGS. My buy price would be $320, and I think it may be worth it. How old is the holder?

tjkillian

The holder dates from the late 1980's.

Tom

certifiedsilverdollar

Thanks Tom, appreciate it.

braddick

1986 and early 1987.
What characteristics are you looking at that help you determine this one has a shot at 64?

K6AZ

A lot of sellers hype the "upgrade potential" of these first generation holders. I don't buy it, I haven't seen one in years that I thought had a shot at the next grade up. If you want a 64, buy a 64. That coin looks like a decent 63, but to pay a large premium in hopes of an upgrade is not very wise.

BAJJERFAN

That coin lacks a lot in eye appeal IMO. I wouldn't give it a second look. Even if you could get it into a 64 holder I think you mite have a hard time getting strong 64 money for it.

JrGMan2004

I would bet that most 1st Gen holders with upgrade candidates, have probally been upgraded already...

Placid

Pics are too small to see much detail.

braddick

<< <i>A lot of sellers hype the "upgrade potential" of these first generation holders. I don't buy it, I haven't seen one in years that I thought had a shot at the next grade up. If you want a 64, buy a 64. That coin looks like a decent 63, but to pay a large premium in hopes of an upgrade is not very wise. >>

My thoughts exactly. In fact, if anything, I stay clear of these earlier makes as most, if not practically all, have been cherried.
A good source for this game are the green inserts, but even those are far and few for potential upgrades.

Still, any "CC" dollar is a fun coin.

Veep

Looks like a mid-grade 63 to me no matter what holder its in.

K6AZ

Exactly Pat. Don't get me wrong, you can still find some nice coins in these holders, but they have been picked over for so many years now I certainly wouldn't pay a premium for one, unless the coin really deserved a premium for the grade.

I have an 84-CC in one of these holders on eBay right now, MS64. There is no way it will ever land in a PCGS 5 holder, unless PCGS gets really loose. It's a great coin for a 4, but I sure didn't want to try to lead potential bidders on thinking they could 5 it.

The original poster said he was willing to go $320. By time you are done with grading fees and postage, how much are you up to? I bought a really nice 78-CC in a MS64 green label holder a few weeks ago for $420.

certifiedsilverdollar

I wasn't sure about the old holder concept. I have saw listings promoting that, and though hmmmm........ Thanks for the input guys and gals. Guess my question is answered.

Stuart

I agree with other responses on this thread. From the photos the coin looks like a mid-tier MS-63 that would be market priced $265 (Bid) to $290 (Ask).

If you like the coin for what it is -- with little upgrade potential, and it's worth $30 above ask then you may wish to purchase it. It's no bargain, but it's a nice old-holdered MS-63. Some people prefer the old "rattler" holders, while others don't like them -- it's a personal choice and preference.

I personally feel that the "best value" grade for an 1878-CC is either MS-64 or MS-64 PL. These coins have increased in price recently, and MS-65's are now greysheeting for $1140 to $1250

Best of luck in whatever you decide to do