1921-P Morgan Dollar Sale Price
Diamond70
Posts: 106 ✭✭
Hi,
Can anyone explain please why this 1921-P Morgan Dollar sold for $10,800.00 ?
What makes it worth that much? It's nice, but what makes it $10,800.00 nice?
Thanks
https://coins.ha.com/itm/morgan-dollars/1921-1-ms67-pcgs/a/1318-3356.s?type=NGC1318
1
Comments
Well, that there's a might purdy dollar, I reckon. Gonna need to hear from a genyoowine expert. Probably some killer provenance on that one. Peace Roy
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The answer is pretty straightforward. It is the highest graded by PCGS (along with a dozen or so other specimens) for the date and mintmark combination from a wildly popular series to collect and all other examples in similar grade have traded for similar amounts.
In honor of the memory of Cpl. Michael E. Thompson
Thanks Tom,
Still not getting it, it's looking a bit beaten up, the rim on the obverse in pretty badly grazed and the fields aren't that fantastic. If somebody posted those images as raw coins on here and they weren't graded, they would get blasted out of the water if they thought they could be graded as MS67. Call me cynical.
Plus, with a 26 trillion dollar debt hovering over our heads, 10K isn't what it used to be.
Nice one, thanks Roy. Purdy it certainly is
Point taken actually Tom, I've got a lot to learn.
Thanks abcde, When you put it like that, you've got a point!
I've got a similar coin to this with the same inexactness on the lower left portion of the wreath, these pictures don't capture its luster and bling appeal but I would still be apprehensive to get it graded
That is a very nice Morgan dollar....wish I had one just like it...
Cheers, RickO
I’d be apprehensive, as well, because the cost of grading and postage would exceed the value of the coin.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Some collectors with more money than sense pay way too much for common date coins that make it into holders with high grades designated.
So far as your own 1921 Morgan is concerned, it looks to be to be no better than MS60 or 61 coin by current standards that probably saw slight circulation or mishandling. It is a base value, common date Morgan. Under no circumstances should you waste money by having it slabbed.
Thanks Rick. Given the feedback about it so far it could be up for sale on here soon
Thanks fith, valuable information and much appreciated.
Thanks mfeld much appreciated.
The first coin posted in this thread is an MS67, right?
That's an incredibly rare grade for a 1921-P, and that's why it sold for $10,800.
But I sense that the OP's question really is, "Why would anyone spend so much for a date that is common as dirt overall and one grade less can be had for just $400 (or less)?
Hi Dennis,
Yes that's right, the first coin posted in this thread is an MS67.
It's a very succinct way of putting it, but in the nutshell - yes!
There are a few answers to Dennis' more blunt version of the question, at least one of which may be correct.
Simple: Registry points
Judgmental: Because they don't have the skill or motivation to find the 66 that's actually just as nice.
Cynical: Because they're going to try to get a 67+ out of it and blow up the pops at 66+ and 67 in the process.
Conspiratorial: Because The Man is manipulating the market for these to pump up the price just before dumping a few on the market in a Well Managed Promotion™
Insightful: They have concluded that it is indeed nicer than all 66s and is well worthy of the grade assigned when compared with other 67s.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
I'm an avid 1921-P VAM collector (plentiful and cheap in 63-64, can have lots of lustre and eye appeal, and there's virtually no competition for them.) I've never seen an MS67 in person, but I would really like to. I've seen many MS66s, including a couple that my brain said, "why isn't this a 67?", and many that my brain said, "what a joke."
The coin in this thread (VAM 3EA by the way) looks pretty ho-hum, doesn't it? But I know from experience that Heritage photos can be deceptively lacking, so I suspect it looks much nicer in hand.
And this is how buying top-end coins should be approached. If someone were telling me that they wanted that coin because it was in a 67 holder, I'd ask them if they're sure that it's better than all the 66s they could go through, cherrypicking for quality.
21s grade funny compared with every other date since the design is totally different. They're lower relief and on well detailed coins can still have marks that aren't struck out of the planchet. I think the eye appeal takes a hit because of the design execution, too, because my first impression on grading 1921s tends to be low.
The coin looks quite nice in the slab shots. I've found that Heritage's glam shots make lustrous coins look about a grade lower than they are.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
@Diamond70
Save your money and skip getting your specimen graded.
Thanks Tekkie, and thank you to everybody else for your comments and providing me with an excellent learning curve. > @messydesk said:
Thanks messy for the insight, I had an idea that grading companies weren't opposed to the idea of collaboration for profit when I saw David Bowers the author of the Franklin and Kennedy Half-Dollars on a shopping channel, hawking a newly discovered stash of graded Kennedy half dollars that he stumbled into. I remember thinking at the time that it must have cost him a small fortune to get all those half-dollars graded...then the penny dropped. With that in mind, it's not at all beyond the realms of possibility that there were ulterior motives at play for that Morgan to get a graded a 67. If that is the case then it's a bad show because it throws everything out of kilter.