First I've seen: ANACS is now grading worn/no date Morgans
braddick
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braddick
Posts: 24,818 ✭✭✭✭✭
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I saw it for the first time last year. I’m ok with it but many might not like it. ICG will do it too (you might recognize the poster in the thread below
).
https://forums.collectors.com/discussion/1028524/now-this-coin-is-confusing-me
Why would anyone not like it?
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"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
LOL! Someone needs to come up with a grade below 1! 1/2 or .5?
“Bah humbug is an exclamation that conveys curmudgeonly displeasure.”
That sums up my opinion about it.
I cannot stop shaking my head at the money people will pay for what I consider junk.
But I recognize their right to do so.
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
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A lot of people already don't see the value in P01 coins. Then there are plenty that think a coin should not be graded if you can't identify the date or mint mark (for coins where there is more than one possibility).
When I asked the question "Why would anyone not like it?" I was referring to not liking that ANACS was willing to grade and slab a worn out coin without a date. ANACS can't control what people collect nor can they control what people are willing to pay to have slabbed. I wasn't referring to liking this specific coin which most people wouldn't ever like.
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
My answer somewhat refers to that as well. People don't think grading companies should grade them and think it cheapens their reputation (since they don't believe a coin without a date is something that should ever be graded). I don't agree with the thinking (and I don't collect this type of item) and am just passing along what I've seen the last time I posted something similar being slabbed.
Why would anyone like it?
I don't like it
it is not a poor-01 coin. a coin that is po-01 would be identifiable in some way for the date/mint mark/design
the grade lower is for this coin: basal state - 00
It’s still identifiable as a Morgan and someone likes to collect coins that are super circulated?
I'm okay with it.
I've always thought PCGS should grade error-free coins without dates because they grade error coins without dates.
Now we just need one of those sellers who puts PQ stickers all over the slab to write one that says "1895-S" or "1889-CC"
I’m cool with it for 2 specific reasons. It verifies authenticity and it also states that it’s a no date (and thus is far less likely to be sold as a rarity).
For a Morgan, this doesn’t really make sense to me why someone would spend that money, but certainly some older dollars could have appeal in this state to lower budget type collectors.
I also think it’s way over graded at P01. “Genuine, basal details” or something like that would be my preference on the grade.
As much as I like lowballs and I have some PCGS PO01s, I do wonder how they can be authenticated.
Excellent point. I don't like this coin and wouldn't pay more than melt for it. But I have no problem with ANACS slabbing it if someone submitted it with the slabbing fee.
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
Beat me to it. Coins that can only be identified by type like this one, should be graded 0. If PCGS starts grading coins 0, there go all the lowball sets.
Looks to me - as suggested above - that the grading scale needs a zero for such coins. The 01 grade has definition... and if it does not fit, it merits another category. Cheers, RickO
Send her off to the CACS. You may get a gold bean then you can sell it for 3x. lol Crazy world!
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If CAC gave it a gold bean that means it is better than a PO1, defeating the purpose of a LowBall. It would be the first gold bean to actually hurt the value of the graded coin!
peacockcoins
I could understand getting something like a no date flowing hair dollar graded but a Morgan?
Wisdom has been chasing you but, you've always been faster
I don't have it handy, but I think the ANA grading standards state that for PO1, a coin must be able to be identified by type and date. For some, the date need not be visible to identify the date.
All ANACS is doing is saying this is a Morgan dollar of indeterminate date, which realistically is worth melt, as it's useless in a lowball registry set, which is what gave PO1s most their value in the first place. If I were running a grading service and people wanted to send me this stuff for $20 a pop to put in a holder, I'd say knock yourself out. Heck, I'd even offer them the chance to pay extra for a special label that said SuperSlick™ on it.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
I’m in the same camp as you. If there is demand for it to be slabbed, then I see nothing wrong with Anacs and ICG meeting that demand.
I don't dislike it, per se, I simply the question the value (for the submitter) of doing it.
EDIT: Or I question the sanity of the buyer who makes the submitter whole.
I'm not sure why a cull would be slabbed, but oh well...