1894 Morgan Value
jgivigl
Posts: 58 ✭✭
jgivigl
Posts: 58 ✭✭
jgivigl
Posts: 58 ✭✭
Comments
Looks AT. Have it graded, then you'll know the value.
It's up for auction.
https://bid.alderferauction.com/ui/auctions/149003/21877064
Edited again: After reading the catalog description (copied below), I later viewed the images of what turned out to be a complete cent-through-dollar 1894 Proof set. And while I wouldn’t bid on it sight-unseen, I’m no longer concerned about the toning on the dollar.
“United States Morgan 1-dollar coin dated 1894. Coin obverse exhibits toning with and extremely small scratch at chin. Reverse of coin exhibits rainbow toning. Coin grades Proof PR65.”
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I personally would never purchase an uncertified proof Morgan based on those pictures alone.
"Bongo hurtles along the rain soaked highway of life on underinflated bald retread tires."
~Wayne
Thanks, I agree.
I would say AT and would question the Proof status.
I think it’s a Proof. And in the grade advertised/claimed, a circulation strike of that date would be far more valuable than a Proof.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I guess you are right, but I would prefer grading.
Is there any way to view lots at that auction firm?
Collector, occasional seller
I agree with the proof designation and think the toning is natural (many other straight-graded proof Morgans exhibit similar toning, I believe from tissue paper storage).
Young Numismatist • My Toned Coins
Life is roadblocks. Don't let nothing stop you, 'cause we ain't stopping. - DJ Khaled
Being impressed with your posts and assessments here and having viewed the images again, I think it’s quite possible that you’re correct about the toning,
Edited to add: After having been made aware that the dollar is part of a cent-through-dollar1894 Proof set and viewing pictures of each coin, I’m no longer concerned about the toning on the dollar.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
The auction actually has a complete 6-piece 1894 proof set in sequential lots. That adds a lot of weight for me. I expect that all 6 pieces are original, although I would certainly never predict what a tpg would say.
Thank you - I hadn't seen that. And if the toning on the other coins looks believable, it would add a lot of weight for me, too.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
If you planned on bidding you may have just given yourself more competition.
Collector, occasional seller
Given the other coins, the toning doesn't really bother me. I also don't see red flags regarding the surfaces on and of the other coins, and while the photos are not very good, they don't seem deceptive. One bad picture can accidentally hide something, but that's far less likely with six in a row. Someone has a chance at scoring big on the group of coins -- or getting burned. Not much different from buying those "Pig-in-a-Poke Boxes" that are all the rage.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
Weird that they didn't get them graded though. Seems like that would have added much more value.
Grading might have added much more value. On the other hand, often, we see ungraded coins sell for more than they likely would, if graded. That can happen when bidders take shots at what the coins might grade and end up overpaying.
For example, the dollar was listed as PR65. Maybe it would grade 65 or higher. But what if it would grade 64 or lower and bidders figure it at 65 money?
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Even if unintentionally so, like most images of proof coins, the ones in the sale could easily be hiding hairlines, which would lower perceived grades. That’s a risk to buyers - especially for ungraded coins - no matter who the seller is and no matter how good the coins might look.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Were all 6 in 1 auction or individual auctions? logged into site but not the most user friendly navigation.
Each coin in the set has a separate lot number.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Was the proof set certified and they did not like the result? I've heard sellers like this say that they'll get more for the coins raw as buyers are going to think they are better than they are.
That 25% buyer's fee might burn someone not paying attention.
They look like nice enough coins though.
Collector, occasional seller
Let how it goes in auction determine value.
for the sake of comparison here are the other 1894 coins from the auction
Half
Quarter
Dime
Nickel
Cent
It's all about what the people want...
Apparently its value is $25,000+25%, so $31,250. That's a lotta dough.
https://bid.alderferauction.com/ui/auctions/149003/21877064
Collector, occasional seller
Wow!
Greysheet for 67 CAC is 12K
You could own 2 for that price….
Looks like people are paying through the nose to acquire "fresh" raw material in hopes of it grading highly.
Another possibility here is that more than one collector desired a complete matched set, although if this is the case, I had no idea original sets carried so large a premium.
Young Numismatist • My Toned Coins
Life is roadblocks. Don't let nothing stop you, 'cause we ain't stopping. - DJ Khaled
It's a sexy coin.
I can sum it up in one word-
Risky
Student of numismatics and collector of Morgan dollars
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Most original sets - even ones that are much more closely matched than this one - don’t carry anywhere close to that type of premium. And we don’t even know if the same bidder won any or all of the other coins in the set. Either way, they hammered at much more subdued prices, as follows:
Cent $275
Nickel $800
Dime $850
Quarter $1000
Half $1000
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
That's a beautiful set.
Thanks for chasing down the pictures !
OP coin: MS60 AT
For sure a no go for me.