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counterfeit Morgan micro-Os -- has anyone sold back theirs to PCGS?

DennisHDennisH Posts: 13,996 ✭✭✭✭✭
in PCGS Set Registry Forum
Has anyone sold back their 1896, 1900 or 1902 micro-O Morgans to PCGS? If so, what grade were your coins and how much did PCGS offer? Did they keep the coins?
When in doubt, don't.

Comments

  • Yale68Yale68 Posts: 376
    I sent one coin (a 1902 micro O in VF25) back to PCGS. They offered me $650, plus they would return the coin to me raw. Essentially they were paying $650 for the right to take the coin out of the holder. I guess this could serve as an argument against those who live by the foolish motto "buy the coin, not the holder".
  • CoinFameCoinFame Posts: 647 ✭


    << <i>I sent one coin (a 1902 micro O in VF25) back to PCGS. They offered me $650, plus they would return the coin to me raw. Essentially they were paying $650 for the right to take the coin out of the holder. I guess this could serve as an argument against those who live by the foolish motto "buy the coin, not the holder". >>



    Sounds like you did pretty good. I assume that $650 was sufficient for you to recover your cost, correct?
    (I'm not an expert on Morgan prices.)

    image
    Seth
  • morgannut2morgannut2 Posts: 4,293 ✭
    Given they go for $300 or so in 3rd tier holders, I'd say that's a good deal.
    morgannut2
  • Yale68Yale68 Posts: 376
    I decided to take the deal, since I bought the coin for only $15. Plus, I have others in higher grades VF35 and XF40. I also just sold a 2nd VF25 on ebay for $1700, so I'm not sure taking the $650 (plus coin) was really the best move. Keep in mind too that the going rate for a VF25 prior to the PCGS announcement was about $3200. Many think that the value of these coins (in PCGS holders) will increase when the dust settles, since the number in PCGS holders (which is only about 30 for each of the 3 dates) can only go down. As a side note, these 3 dates are all "top 100" varieties, and, to my knowledge, ANACS will still encapsulate them.
  • RegistryCoinRegistryCoin Posts: 5,117 ✭✭✭✭
    Welcome to the boards, Yale68!
  • DennisHDennisH Posts: 13,996 ✭✭✭✭✭
    I called ANACS last week and asked if they still encapsulate these three micro-O dates. They said no, they do not.

    Welcome aboard Joe!
    When in doubt, don't.
  • MrEurekaMrEureka Posts: 24,301 ✭✭✭✭✭
    the number in PCGS holders (which is only about 30 for each of the 3 dates) can only go down

    True, although you won't be able to prove it because PCGS will almost certainly remove the issues from their pop reports.
    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
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