i don't have access to the online pop report, can someone do a screen-shot or save it somehow so we can look at the changes when they occur?? this is hot!!!
Fortunately, Morgans are about the easiest coin to grade so they should go fairly quickly. When I see something like this it reminds me of just how common Morgans really are.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>Do you think they dropped them off and will pick them up to avoid postage fees? >>
86,000 one ounce coins is 5,375 pounds and silver at ~$40 a ounce ~$3,440,000 melt value. >>
Morgans are NOT one ounce coins---the silver content is 0.77 troy ounces. I'm surprised someone didn't catch this already.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>Fortunately, Morgans are about the easiest coin to grade so they should go fairly quickly. When I see something like this it reminds me of just how common Morgans really are. >>
Maybe. I remember talking to a inside rep at NGC. He said a submission of 1000 Walkers added to the back up of the economy service 15 days.
<< <i>Do you think they dropped them off and will pick them up to avoid postage fees? >>
86,000 one ounce coins is 5,375 pounds and silver at ~$40 a ounce ~$3,440,000 melt value. >>
Morgans are NOT one ounce coins---the silver content is 0.77 troy ounces. I'm surprised someone didn't catch this already. >>
Well, a Morgan is supposed to weigh 26.73 grams. That means 86,000 of them would weigh in @ 2,298,780 grams. 90% of those grams should be silver, which leaves 2,068,902 grams of just silver. That translates to 66,516 troy oz of silver. (rounded) With silver @45.23, you end up with $3,008,552.33 in silver 'melt' value.
You also end up with a bit over 500 pounds of copper!
The entire cargo of Morgans weighs in at right around 5068 pounds! THAT would be a sight.
<< <i>I assume these are the end result of the coin show hoarding that's been going on?
Somebody banking on PCGS 63/64 Morgans going up. >>
I would guess that these are a very old hoarde of morgans that the owner decided to cash in while silver is high. Either the buyer, or the dealer helping with the sale, recommended and negotiated for grading the coins.
Bulk and regular submissions are grades separately and your submissions won't be "behind" this one. Mine might be.
That is why I never collected MS Morgans. There must be thousands of M68 and MS67 Morgans graded by PCGS. Can somebody, who has access to the pop report, give the exact number of MS67s and MS68s for the series ?
I collect Peace Dollars and I know that there are only two ( 2 ) MS68s for the entire series. I believe there are only 191 MS67s for the series. The pop report for the entire Peace Dollar series sounds like the pop report for a single year of the Morgan series.
Is it a certainty that they are Morgan/Peace Dollars?
Retired Collector & Dealer in Major Mint Error Coins & Currency since the 1960's.Co-Author of Whitman's "100 Greatest U.S. Mint Error Coins", and the Error Coin Encyclopedia, Vols., III & IV. Retired Authenticator for Major Mint Errors for PCGS. A 50+ Year PNG Member.A full-time numismatist since 1972, retired in 2022.
TV seller rapidly accumulates raw BU Morgans to initiate a Well Managed Promotion™, send PCGS 86,000 coins with instructions to holder MS63 and above with the grade, others as BU, and additionally negotiates terms of a some sort of commemorative label for the BU (or possibly all) coins, so that they can be sold as part of a hoard on TV for $59.99 for the BUs, $79.99 for the 20% that grade MS63, and $119.99 for the rare, most select 5% that garnered the lofty grade of MS64.
if you do the math, the 86K represents about 4% of the entire population of pcgs graded morgans. You could also estimate that if the other grading service populations are added the 86K would be slightly under 2% of the total population.
It should be fun to catalog and market the group. I would think any premium coins were culled out prior to the bulk submission.
Unless the coins are above 63's they may just get a "UNC" label. I could do 100's and hour. There is no way they would pay 8 bucks a coin on 86,000 coins. This has to work on both sides. If it cost 6 bucks to grade a coin they need to look at ways to cut their cost.
Mark NGC registry V-Nickel proof #6!!!! working on proof shield nickels # 8 with a bullet!!!!
Comments
No Way Out: Stimulus and Money Printing Are the Only Path Left
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>
<< <i>Do you think they dropped them off and will pick them up to avoid postage fees? >>
86,000 one ounce coins is 5,375 pounds and silver at ~$40 a ounce ~$3,440,000 melt value.
Morgans are NOT one ounce coins---the silver content is 0.77 troy ounces. I'm surprised someone didn't catch this already.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
TRUTH
<< <i>Fortunately, Morgans are about the easiest coin to grade so they should go fairly quickly. When I see something like this it reminds me of just how common Morgans really are. >>
Maybe. I remember talking to a inside rep at NGC. He said a submission of 1000 Walkers added to the back up of the economy service 15 days.
TRUTH
<< <i>
<< <i>
<< <i>Do you think they dropped them off and will pick them up to avoid postage fees? >>
86,000 one ounce coins is 5,375 pounds and silver at ~$40 a ounce ~$3,440,000 melt value.
Morgans are NOT one ounce coins---the silver content is 0.77 troy ounces. I'm surprised someone didn't catch this already. >>
Well, a Morgan is supposed to weigh 26.73 grams. That means 86,000 of them would weigh in @ 2,298,780 grams. 90% of those grams should be silver, which leaves 2,068,902 grams of just silver. That translates to 66,516 troy oz of silver. (rounded) With silver @45.23, you end up with $3,008,552.33 in silver 'melt' value.
You also end up with a bit over 500 pounds of copper!
The entire cargo of Morgans weighs in at right around 5068 pounds! THAT would be a sight.
I wonder if these will be on the shared submissions list?
<< <i>
The entire cargo of Morgans weighs in at right around 5068 pounds! THAT would be a sight. >>
What would REALLY be a sight to see is the submitter showing up at PCGS with a 1990 Honda Civic Hatchback and the ass end dragging on the street!
<< <i>I assume these are the end result of the coin show hoarding that's been going on?
Somebody banking on PCGS 63/64 Morgans going up. >>
I would guess that these are a very old hoarde of morgans that the owner decided to cash in while silver is high. Either the buyer, or the dealer helping with the sale, recommended and negotiated for grading the coins.
Bulk and regular submissions are grades separately and your submissions won't be "behind" this one. Mine might be.
--jerry
I collect Peace Dollars and I know that there are only two ( 2 ) MS68s for the entire series. I believe there are only 191 MS67s for the series. The pop report for the entire Peace Dollar series sounds like the pop report for a single year of the Morgan series.
MS67 6,846
MS68 383
MS69 9
Sorry, could'nt help myself.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
<< <i>sheesh. There's not someone out there with 86 bags of Walkers is there?
My guess would be yes there is.
<< <i>Do you suppose a casino found 86 bags in a vault somewhere? >>
I wonder if Jimmy Hoffa was in one of the bags?
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No, heck Hall can grade 86,000 coins in (1) day all by himself
GrandAm
<< <i>all grades 2,261,215
MS67 6,846
MS68 383
MS69 9 >>
Any update to the pop reports with this order now most likely processed?
that I watch waiting for Tomaska's mighty , mighty Franklins ;
what background has he in numismatics ?
It should be fun to catalog and market the group. I would think any premium coins were culled out prior to the bulk submission.
NGC registry V-Nickel proof #6!!!!
working on proof shield nickels # 8 with a bullet!!!!
RIP "BEAR"