Received: 1897-O PCGS AU-58 Morgan Dollar -- Very Pleased!! -- Photos

Stuart

Here's a new purchase which I'd like to share with you...

1897-O PCGS AU-58 Morgan Dollar

coinguy89

I would have graded that mint state.

RYK

Nice coin--definitely has "the look" of mint state.

wam98

I would be looking for an upgrade, from what I can tell from the photo. Dramatic increase in price in MS too.

Stuart

Scott, RYK and Wayne: Thanks for your providing your feedback on my new 1897-O PCGS AU-58 Morgan Dollar.

I am anxious to receive the coin and to examine it myself. The dealer, from whom I've purchased coins previously, told me that the coin did not have any apparent wear on it, just a few faint hairlines which must have bumped it down from mint state to AU-58.

Since this coin is very tough in mint state and also extremely tough in PL, I felt that this would be a suitable representative for my Registry Set, without breaking the bank.

As you've already noted, it's got that mint state "look" which should allow it to fit in well with the rest of my registry set.

SDCollector

AU-58 is the "sweet spot" in collector grades, IMO. Especially for Morgans...they almost always look MS to me.

Stuart

<< AU-58 is the "sweet spot" in collector grades, IMO. Especially for Morgans...they almost always look MS to me. >>

Bill: I agree with your above quote for Morgans that have very steep market value premiums from AU to mint state. I would personally rather spend less money on a very attractive AU-58 with high eye-appeal, than spend 5-10x as much for an average mint state coin.

It's just our personal collecting preference for what we feel is the Best Value Grade...

beartracks42

Very nice looking coin. I saw a 1897-O in a Segs holder, graded MS64, sell for over $6,000.00 recently and it did not look any nicer than yours.


Gary

BAJJERFAN

Looks like the coin Alpine has up. In fact it is.

Stuart

Gary: Thanks for comparing the eye appeal of this coin to that of a mint state coin worth in the mid 4 figure price range.

Bajjerfan: Very astute observation The coin was purchased from Alpine Numismatics...

coinkat

terrific coin and AU58 is an excellent grade for the 96-O and 97-O Morgan

ziggy29

<< <i>terrific coin and AU58 is an excellent grade for the 96-O and 97-O Morgan >>

Yep. I have an AU-58 '96-O Morgan, too. It's nice for the grade...but not as nice as Stuart's '97-O. A lot of 58s look nicer than most 61s and 62s, and you have to get to the 63-64 range to match their eye appeal -- at 20x the price, in the case of the '97-O.

I just wish everyone else would stop picking up the nicer AU-58s at MS-62 money or buying them before I have a chance to do the same. The competition is driving me crazy.

Stuart

<< I just wish everyone else would stop picking up the nicer AU-58s at MS-62 money or buying them before I have a chance to do the same. The competition is driving me crazy. >>

Thanks CoinKat & Ziggy! CoinKat, based on your above quote would you approve of this coin having been purchased at about $100 below MS-60 price??

Stuart

I received the 1897-O PCGS AU-58 Morgan Dollar today and am very pleased to report that the coin looks even better in person than in the picture that I posted earlier in this thread.

As the seller observed, the coin has absolutely no wear with full strong satiny mint luster at all high points and in the unprotected field areas. It also has a strong strike and high luster both of which are uncommon for this date according to Miller & Bowers.

The coin exhibits several light contact marks & very minor hairlines on the cheek of Miss Liberty and has the look of an MS-62 to MS-63 coin.
I am very pleased to have been able to purchase this coin at roughly 10% of the MS-63 market value. It will fit in very nicely with other mint state coins in my Morgan Dollar Registry Set!

lordmarcovan

Looks like you got a big bang for your buck! That's a nice looking piece!

Stuart

Thanks LordMarcovan!!

coinkat

I think so... the 96-O and 97-O are worth a premium if the coin is nice and this one has a nice look.

Wolf359

Awesome Stuart. Post some photos of your little beauty when you get the chance.

sliderider

coinguy89,

It wouldn't be MS, not with a smooth breast on the eagle. I always thought that a designation should be added to Morgans to cover the eagles breast feathers. A coin can absoulutely flwaless in every other respect, but if the breast feathers show a hint of weakness, it's relegated to slider status. They should have a full breast or full feather designation like they have FSB for Mercs or Full Head for SLQs. Those coins can be MS68 without the designation, but a Morgan with bad breast feathers would never grade that high.

Stuart

Wolf359: I have posted a photo of the 1897-O PCGS AU-58 Morgan Dollarearlier in the first post of this thread.

Thre is absolutely no rub, wear or friction on the eagle's breast feathers, and they are more prominent & defined than the photo depicts.

1897-O PCGS AU-58 Morgan Dollar