Found a decent looking 1893-S Morgan

UtahCoin

If you're working on a Morgan set, this piece could be a decent hole filler until you found something better....

Link

tightbudget

I like the semi-PL obverse.

commoncents05

Yeah, a "decent" example.

-Paul

LeeBone

Yeah, I guess I could let it slide into my registry set.

Meltdown

I'd crack it and put it in my album so fast.

codamyer

Wonder if they have a 40 year lay-away plan I might be able to use? I like it!

YaHa

I wonder how much listing fee was? Also I would crack it out and send it into Pcgs for a downgrade. Lol

UtahCoin

<< <i>Wonder if they have a 40 year lay-away plan I might be able to use? I like it! >>



40 year note with 20% down at 7% = $1454 a month....

vplite

Obviously an excellent coin...but a little overpriced IMHO.

GoldenEyeNumismatics

it's been worked on quite a bit.

DennisH

Only $92,500 over "Ask", and it doesn't convince me it's a 64.

TennesseeDave

They just marked it down $32,500,now its a steal.

DJCoinz

Not too shabby...might be able to find a place for it.

Cam40

64
shoot!
that coin should be able to market grade a 65
i`d crack it and submit it to pcgs for presidential review

...then flip it ofcourse

bigmansam88

I was really looking to complete my set with all of them graded at 66.

That coin just won't quite cut it for my set.

HighRelief

Overall a nice 93-S but I would want a CAC sticker on it before even thinking about buying a coin for that amount of money. The hits on the obverse are telling me MS63 at best.

JZrarities

It's either 65 or not at all, for me.

Cam40

oh technically its au58 probably but, it aint no ordinary date/mm
so an outrageous bump in grade seems natural for todays market

speety

I'm sorry but i think this may be one of the most over-priced coins.

Pops:
NGC - MS64-10/higher-3/total graded-3,579
PCGS - MS64-3/higher-7/total graded-1,839

Combined pop of 13/10 does not seem like a $300k coin to me...But this one does look ok for the grade. Now if it had a sticker...$300k+ easy!

AUandAG

gotta be a Chinese counterfeit!


bob

Walmann

<< <i>I'm sorry but i think this may be one of the most over-priced coins.

Pops:
NGC - MS64-10/higher-3/total graded-3,579
PCGS - MS64-3/higher-7/total graded-1,839

Combined pop of 13/10 does not seem like a $300k coin to me...But this one does look ok for the grade. Now if it had a sticker...$300k+ easy! >>





I just got one of those in change a couple days ago, it was even a bit nicer than this one.

Shortgapbob

It's an amazing coin for what it is....a very high end 1893-S. That said, it wouldn't cross at PCGS.

However, I would expect a PCGS 64 that was nice would bring a good bit over what this coin is being offered at.

Shortgapbob

<< <i>I'm sorry but i think this may be one of the most over-priced coins.

Pops:
NGC - MS64-10/higher-3/total graded-3,579
PCGS - MS64-3/higher-7/total graded-1,839

Combined pop of 13/10 does not seem like a $300k coin to me...But this one does look ok for the grade. Now if it had a sticker...$300k+ easy! >>




I think the pops are a little inflated for this date, with resubmission attempts. That said, I think that the 1893-S Morgan is overpriced in most grades.

Edscoin

It's an OK coin. But I'm still holding out for an MS 70 to come along.

veryfine

<< <i>

<< <i>I'm sorry but i think this may be one of the most over-priced coins.

Pops:
NGC - MS64-10/higher-3/total graded-3,579
PCGS - MS64-3/higher-7/total graded-1,839

Combined pop of 13/10 does not seem like a $300k coin to me...But this one does look ok for the grade. Now if it had a sticker...$300k+ easy! >>





I just got one of those in change a couple days ago, it was even a bit nicer than this one. >>



I disagree.
Since when do population reports determine the value of a coin? Sure, it somewhat confirms availability of a specific date, but that's one of many factors. Any coin can be considered overpriced, even so called "low population" dates. Is this an expensive coin? Yes. Is it one of the most desirable American coins from an extremely popular series? I think we all know the answer to that one.
I wish I owned an 1893-S Morgan in any condition.

Sunnywood

Prices are determined in the marketplace based on supply and demand. If this coin were truly "overpriced in most grades" then buyers would pass, the coins wouldn't sell, and sellers would have to lower their prices. If you don't believe me, just look at the housing market !! Key dates and rarities always have a market all their own. I always think the 1901-S quarter is overpriced in the lower grades, say up to VG or F. Yet those prices don't ever seem to come down. Evidently, the demand is real.

Of course asking prices aren't everything. The real data points of interest are the actual transactions, but that information isn't always available.

After collecting (toned) Morgans for many years, the only coin missing in my set was the 1893-S. It wasn't a function of price - there simply weren't ANY suitable quality examples with original surfaces. Ditto for the 1901-S Barber quarter ... although there were various "conserved" milky white pieces floating around in NGC MS65 and MS66 holders. And so it was that when my 1901-S quarter (now PCGS MS66) presented itself in the market (in a 2nd generation PCGS MS65 green tag holder ca. 1996 or so), I jumped on it instantly at full MS66 price.

And so, when the Eliasberg 1893-S dollar came along ... considered by QDB and others to be the third finest known (behind the Norweb and Vermeule specimens, both currently graded PCGS MS67), and having untouched original naturally toned surfaces, ... it took me all of about 0.5 seconds or less to decide to pay the price when this coin unexpectedly showed up in the marketplace.

I totally understand why anyone would think these key date coins are overpriced, especially in lower grades ... however, the market tells us otherwise. And, as a set collector, I can vouch for the actual rarity of these coins in the quality I sought, as compared with all other dates in the series.

Best,
Sunnywood

fc

stupidly overpriced in my opinion.

drddm

I would bet ANY amount of money that the seller has tried to cross this coin MORE than once at PCGS. He certainly knows what this coin would bring in a PCGS 64 holder, that's why it's still in a NGC holder, this of course is just my opinion.

mr1931S

Way overpriced for those of us who don't buy into the hype of how "rare" these pieces are supposed to be.

Population reports are smoke and mirrors.I don't see how anyone with a lick of sense can take these numbers seriously and proceed to extrapolate rarity from them.Getting out in the field and looking for the coins is how to figure out the rarity of something you're interested in possibly acquiring.

totally understand why anyone would think these key date coins are overpriced, especially in lower grades ... however, the market tells us otherwise.

I think what the market tells us is that we have many people who buy into the "this is rare" hype.That is an essential ingredient for making a market in any collectible.

Tvac897

I'm starting out...would this be a good place to start?

mr1931S

I'm starting out...would this be a good place to start?

No, a good starting place would be to first buy my Florida swampland and make some serious green money.Great investment my land in Florida is...

Seriously, a good place to start is to "get out there." What I mean by this is to look and think about at a lot of coins before you buy.Talk to people who have been collecting for awhile.Ask questions.Buy and read a book or two on the coins that interest you.Most important,in my opinion,is to think for yourself.Don't be a lemming,in other words.And...don't let greed be your downfall.Greed is not a good thing.

veryfine

I get a kick out of those who constantly thumb their noses at these "hype, overpriced, market driven key dates." As for those who hold these opinions, I'd love to know what they collect.

It's always the same tired sour grapes responses:
"There are so many Liberty Seated and Bust coins that are truly rare, unlike common junk, such as the always available 93-S dollar. My coins are soooo undervalued. Of course I know this. I know better. I am a more evolved, sophisticated and knowledgeable collector who knows how to cut through all the market driven hype. In return, I am rewarded with the perfect and never seen Large Cent variety. It's taken me 20 years to find, but it's worth the wait. I am prudent. I am wise. I am patient, and of greatest importance, I am smarter than all of you. You'll see. Watch your keys plummet in value as my true rarities outperform everything under the sun."

Apparently, I and others are part of the common coin collecting masses who are victims of advertising and hype. I am so emotional; so out of control. Oh great colonial and token collectors, please enlighten me. I have fallen prey to the evil charms of the 1893-S Morgan dollar.

WTCG

<< <i>Prices are determined in the marketplace based on supply and demand. If this coin were truly "overpriced in most grades" then buyers would pass, the coins wouldn't sell, and sellers would have to lower their prices. If you don't believe me, just look at the housing market !! Key dates and rarities always have a market all their own. I always think the 1901-S quarter is overpriced in the lower grades, say up to VG or F. Yet those prices don't ever seem to come down. Evidently, the demand is real.

Of course asking prices aren't everything. The real data points of interest are the actual transactions, but that information isn't always available.

After collecting (toned) Morgans for many years, the only coin missing in my set was the 1893-S. It wasn't a function of price - there simply weren't ANY suitable quality examples with original surfaces. Ditto for the 1901-S Barber quarter ... although there were various "conserved" milky white pieces floating around in NGC MS65 and MS66 holders. And so it was that when my 1901-S quarter (now PCGS MS66) presented itself in the market (in a 2nd generation PCGS MS65 green tag holder ca. 1996 or so), I jumped on it instantly at full MS66 price.

And so, when the Eliasberg 1893-S dollar came along ... considered by QDB and others to be the third finest known (behind the Norweb and Vermeule specimens, both currently graded PCGS MS67), and having untouched original naturally toned surfaces, ... it took me all of about 0.5 seconds or less to decide to pay the price when this coin unexpectedly showed up in the marketplace.

I totally understand why anyone would think these key date coins are overpriced, especially in lower grades ... however, the market tells us otherwise. And, as a set collector, I can vouch for the actual rarity of these coins in the quality I sought, as compared with all other dates in the series.

Best,
Sunnywood >>



These excellent observations by Sunnywood reflect my opinions for the most part.

SeattleSlammer

Sunnywood appears to have the most real-world experience with a coin of this caliber, so I tend to put the most stock in his post....as opposed to those that just like to bash.

Yeah, from the pics 64 seems a stretch...but still, a really great looking 93-S.

BAJJERFAN

<< <i>it's been worked on quite a bit. >>



please elaborate

MidLifeCrisis

<< <i>Oh great colonial and token collectors, please enlighten me. I have fallen prey to the evil charms of the 1893-S Morgan dollar. >>


Where did this come from?

As a colonial and token collector (although not a great one), I would love to have an 1893-S Morgan Dollar in any grade...especially an uncirculated example. However, I believe the price of this coin is primarily driven by its popularity and condition rarity rather than true rarity. The 93-S is the rarest collectible date/mm in a very popular series and is the key for that series. That's fine. I'd own one any day.

But it aint exactly a New England Shilling or a Broad Axe Higley Copper, now is it?

DJCoinz

<< <i>Prices are determined in the marketplace based on supply and demand. If this coin were truly "overpriced in most grades" then buyers would pass, the coins wouldn't sell, and sellers would have to lower their prices. If you don't believe me, just look at the housing market !! Key dates and rarities always have a market all their own. I always think the 1901-S quarter is overpriced in the lower grades, say up to VG or F. Yet those prices don't ever seem to come down. Evidently, the demand is real.

Of course asking prices aren't everything. The real data points of interest are the actual transactions, but that information isn't always available.

After collecting (toned) Morgans for many years, the only coin missing in my set was the 1893-S. It wasn't a function of price - there simply weren't ANY suitable quality examples with original surfaces. Ditto for the 1901-S Barber quarter ... although there were various "conserved" milky white pieces floating around in NGC MS65 and MS66 holders. And so it was that when my 1901-S quarter (now PCGS MS66) presented itself in the market (in a 2nd generation PCGS MS65 green tag holder ca. 1996 or so), I jumped on it instantly at full MS66 price.

And so, when the Eliasberg 1893-S dollar came along ... considered by QDB and others to be the third finest known (behind the Norweb and Vermeule specimens, both currently graded PCGS MS67), and having untouched original naturally toned surfaces, ... it took me all of about 0.5 seconds or less to decide to pay the price when this coin unexpectedly showed up in the marketplace.

I totally understand why anyone would think these key date coins are overpriced, especially in lower grades ... however, the market tells us otherwise. And, as a set collector, I can vouch for the actual rarity of these coins in the quality I sought, as compared with all other dates in the series.

Best,
Sunnywood >>

Excellent post Sunnywood.

UtahCoin

Sunnywood,
Thank you for a wonderful post! After looking at your toned Registry set of Morgan Dollars, I took my circulated set and tossed them in the melt bucket.