Why so cheap?

morganbarber

This is a coin I won on Ebay the other day LINK This same seller had a lot of common dates in first generation 64 holders ending around the same time. His pictures weren't that great, but I was surprised at how little everything brought. Is the PCGS price guide very high on such coins, or did that seller get slighted?

XpipedreamR

Isn't that the night eBay was broken...Monday night?

originalisbest

Seems about right for that common date.

BillJones

The Gray Sheet bid/ask on the 1880-S silver dollar in MS-64 is $49/$53. You purchased the coin for close to ask plus the shipping of $5 which might net the seller a little something if he's shipping in volume.

The 1881-S dollar and other San Francisco mint dollars from this era are very common in MS-64 through 66. In fact MS-64 is really a "low" grade for this date. MS-64 coins are sort of a drug on the market. They have a minimal upside, and are not crack-out candidates even if an upgrade is a "sure thing" because you can't make enought from an upgrade to make it worthwhile. AND since MS-65s are pretty common, many collectors and smart speculators will say, "Why bother with the MS-64s?"

The seller may have bought a deal on these and wanted to turn his money over quickly. These coins don't sell that quickly at the shows because they are so common, so if he could make a couples bucks a piece on them quickly, perhaps that was the motive.

I don't know what the PCGS price guide says about this coin, but if it's much over $55 or so, it's too high.

morganbarber

This coin came the other day. It is solid for the grade, and is white except for two tiny pieces of black crud on the Reverse. In some lighting and angles it looks PL. I guess I am pleased. Not an upgrade candidate.

airplanenut

I'd say the price is right for the date--it's common and easy to find nice. That said, this date is the only morgan I have that's white... and I paid a hefty premium