Morgan Collectors--Cleaned Semi-keys

billboat · December 6, 2003 6:09AM

Just out of curiosity--what do you think the market is for certified cleaned semi-key Morgans, like 83-S, 84-S, 85-S, 88-S, 89-S Morgans in EF45-AU55 details (ANACS)? I'm not putting them up for sale at this time but am curious as to what people think interest might be. These are coins that I've bought over Ebay over the years and have in my collection. I'm going to divest myself of all but the best examples of each year and end up with a high grade year set as opposed to a date/mint mark set. Should I expect to realize close to bid for the detail grade or am I looking at a significant hit over the net grade?

Edited to add: I had them certified because I don't want to try to represent them as "no Problem" coins which, unfortuneately, is how I bought them. In a few cases I wasn't sure--so sent them all to ANACS.

lordmarcovan · December 6, 2003 6:58AM

I'm sure there is a market for them. How good a market, I can't say. Net grades are not popular.

If they're just dipped and not harshly whizzed or anything like that, they might look just fine raw in somebody's Dansco or Whitman album.

The real question here is whether you should sell them raw as cleaned coins, or in the holders. With the holders, the prospective buyer has added confidence that they're real, but net grades can kill you sometimes. I have done OK with cleaned net-grade coins on occasion, too, though. Certainly there's a big difference between a coin net-graded for dipping and a coin net-graded for whizzing, or scratches, or rim damage, whatever. Not all cleaned coins are undesirable, and if yours are semi-keys, then I would say your chances are all the better.

BillJones · December 6, 2003 7:06AM

Most Morgan dollar prices really take a dip once you get below Mint State. The reasons are (1) many collectors aspire to own them all in Mint State (but few make it) and (2) Most Morgan dollars are really pretty common in the circulated grades. For that reason one can complete the set with all but the 1889-CC, 1893-S and 1895-P for farily short dollars if you aren't concerned much about the condition.

Lordmarcovan mentioned that net grades are not too popular, and that's true. You be in a stronger position if the coins you had were just those grades, and not net grades.

Russ · December 6, 2003 7:13AM

I sold a cleaned 1895-O on eBay a while back. Coin had AU details, sold for EF money.

Edited to add: The coin was raw, not slabbed.

Russ, NCNE

BigAl · December 6, 2003 7:23AM

if the coins were MS details cleaned, i'd say there's a defininte market. many collectors buy more affordable (cleaned) coins to fill holes in their sets. less of a market for EF/AU. the amount of hit you will take depends on the type of cleaning. if the coin is whizzed or polished heavily, you're sol (big hit), however if the coin was dipped only, you won't take that big of a hit (half to one grade). If the latter is the case, i may take a chance on sending the coins to pcgs, ngc, or icg (crack out) and hope for a market grade. the ones that don't slab, send back to anacs.

MSD61 · December 6, 2003 7:30AM

I have noticed, say Ebay for example, that a lot of people will purchase a nice clean, good looking coin. There are also those collectors that just want to have a nice collection of certain coins that are not into dates or mintmarks. They just love the coins

Morgan Collectors--Cleaned Semi-keys

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