Seeking answers and opinions, to help me learn from my first graded coin purchase
thisistheshow
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I promised not to post pictures again until I could take good ones, so I'm sorry but I hope these are good enough for this situation.
I am on here to learn so that I can become a better raw cherry picker (which I enjoy) and hopefully learn what to send in. But I saw this coin and bought it.
1887-S Morgan PCGS AU53
This is my first ever slabbed purchase. Slab was very scratched and I removed as much as possible so far using advice found here. It was $40.00 so I figured it wasn't a risk.
My questions are:
If there is absolutely no toning on a Morgan like this does that usually mean it's been dipped?
I see what look like hairlines. I've read about die polishing lines. From my pictures can you tell me what is there?
For $40 was this a good purchase ?
Comments
You paid a fair price for the coin, graded by and in a PCGS holder. What I would be concerned about is whether you are buying this for resale or because you like it and want to keep it. By buying PCGS graded coins you remove most of the possibility of a detrimental cleaning resulting in massive hairlines. There are quite a few online forums for the various series of coins. Join the one you wish to specialize in and buy a quality book, many are available at very reasonable prices. Learn to grade coins to include cleanings, polishing, toning methods both natural and unnatural and what to look for as to strike and lustre(many dates of the various series offer different levels of strike which a book would inform you). So much to learn, but you are on a great forum to learn. Pay attention and keep your feelings aside and you may benefit greatly from the members here. Just my opinion.
Best of luck and welcome to the forum and the hobby.
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
Thank you for that great advice Jim
The price looks about right, maybe even a bit low. To my eye, the coin looks at least AU-55, dipped and probably lightly cleaned, net graded to a 53 and still market acceptable to our hosts. Those are not die polish lines, IMO. This is pretty much exactly the opposite of what I like personally, just too white, but tastes differ. All in all, it looks like you did OK.
If you have a chance to take a grading course from the ANA, you will learn quickly.
Good luck.
Tom
you picked the right grading service, these sell for up to 99 dollars
https://www.ebay.com/itm/1887-S-Morgan-Silver-Dollar-AU-53-PCGS-/323114702801?hash=item4b3b2317d1:g:xb8AAOSw8RZaanop&nma=true&si=f4HZnFUFTojVenrWakzs3O7PKEs%3D&orig_cvip=true&rt=nc&_trksid=p2047675.l2557
I am not usually a fan of this look either, but I liked this one in hand for some reason
Appreciate the answers, and I will keep reading and learning. Thanks!
if it was dipped it should say so on the slab. If nothing on the slab, then it should not have been dipped.
Best place to buy !
Bronze Associate member
This is incorrect. “Dipped” will never appear on a slab, but you may get a details grade for “improperly cleaned” or something similar.
A great many silver coins have been dipped at some point. A lot of them have retoned, too. It is highly likely that a blast white AU coin has been dipped and probably cleaned in other ways too. The latter is what will give it hairlines.
I will also add:
1) welcome to the forum!
2) post pictures of the full coin
What attracted you to this one in particular? Are you looking to build a full set or just buying coins you like right now?
An unattractive, common date coin you should have avoided regardless of the holder. Don't tie your money up in coins like this. Wait until something with real eye appeal is offered at a reasonable price.
@Kkathyl said: "if it was dipped it should say so on the slab. If nothing on the slab, then it should not have been dipped."
When most coins are correctly dipped, there will be no evidence. Cleaned coins are routinely straight graded by the four major TPGS if there is no evidence of cleaning or if they are considered "market acceptable."
I have been working on finishing a raw silver Washington set in a Whitman classic album, not in high grade, but all with a look I like. I prefer coins that are toned. I also love lowballs and circulation cameos. I also enjoy cherry picking for value and that is what attracted me to this coin in particular.
Good advice, I understand your point. Thank you.
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Howdy and welcome.
An AU53 Morgan dollar will generally have more color (dirt, toning, whatever...) and less pure white surfaces than this coin unless it has been dipped. Therefore, I would imagine this coin was dipped at least one time in its history. However, a blast white Morgan dollar that is mint state might be completely original and have spent decades stored in bags. The lines on the obverse appear to be general circulation lines and not die polish. The certification services routinely grade and encapsulate dipped coinage with no mention of the dip whatsoever and most collectors and dealers accept this as par for the course.
Personally, I think the coin is not very attractive, but that is just my opinion.
In honor of the memory of Cpl. Michael E. Thompson
@thisistheshow....Welcome aboard. I support the information given above....If you are going to continue with Morgans, I suggest you acquire one of the excellent books on these coins... They will be a great help. Cheers, RickO
This is great advice from my perspective and something I try to follow in my collecting. That said, if this coin brings you joy/contentment, you don't need to defend your decision here.
"Got a flaming heart, can't get my fill"
Welcome and that is a beautiful coin, if only because you like it
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb, Ricko
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Look at the feathers on the eagle's chest and wings. It's a beautiful coin and if it makes you happy....it's all that count
Welcome to the forum.
Some folks are being pretty harsh based on a pretty low-quality picture.
Are the obverse lines on the coin or the holder? At least two of them appear to be on the plastic.
You say you enjoy cherrypicking............is this a variety?
You used your gut and spent $40 on a decent deal.
Sorry for to overthinking this, but you've gotten a great lesson from @TomB and others.
So now go "over-pay" $5-$7 for something else and learn some more.
Trust your gut again.
Part of "having fun with your coins"
@1630Boston said: "Welcome and that is a beautiful coin, if only because you like it: :smile"
As an "equal time" curmudgeon...while I think I understand the sentiment in your post, it may not be helpful to a beginner trying to learn because what he/she "likes" is not the important thing. Many beginners like polished and whizzed coins.
The best thing about the OP's purchase is the coin is graded by a major TPGS.
What he/she likes is the MOST IMPORTANT THING - ALWAYS. If you like polished and whizzed coins, that's great! Buy them! Just buy them at an appropriate price. If you aren't having fun and end up with a collection that everyone likes EXCEPT you, what's the point? As long as you know you are buying problem coins and as long as you aren't "investing", have fun and let your freak flag fly!
It could be just how it was photographed that makes the coin look overly dipped. LED lighting can make silver coins look unnatural. Try taking a photo using a regular light bulb without using the flash.