PCGS is Very Tough on Grading Early "S"- Mint Morgans -- 1879-S, 1880-S & 1881-S
Stuart
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I just received my 10 PCGS Graded Morgans back today (see following thread link for reference)
Morgan Dollar PCGS Grades
Although I am extremely pleased with the results, especially for the 3 Carson City Morgans (1880-CC MS-64 DMPL, 1890-CC MS-63 DMPL & 1891-CC MS-63 PL), in retrospect after examining the coins I noticed that PCGS is much tougher on grading the common date "S" - Mint Morgans such as the 1879-S, 1880-S and 1881-S.
I submitted several very high grade 1879-S & 1881-S Morgans which all came back a point below what I felt was the lowest possible "lock" grade -- and each of which I thought was a shot 2 points higher than what they graded... I am pleased with the MS-65 & MS-66, but I thought thay they were each at least "lock" MS-66 & MS-67 and a shot at the next higher MS-67 & MS-68 grades.
I'll try to take some photos of them for posting on this forum in a week or two. The 1881-S that 66'd is one of the most beautiful Morgans I've ever seen -- with almost no perceptible contact marks and an incerdily clean cheek... The other 1881-S that made 64 is better than lots of 65's and some 66's that I've seen.
I guess that the moral of the story is don't waste your time (and money) submitting common date Morgans -- although there's not much financial risk at the $16 Economy Grade service level... I feel that it's best to buy already slabbed coins like these off the market which are likely undergraded...
I'd appreciate your thoughts, observations and experience along these lines. Thanks!
Morgan Dollar PCGS Grades
Although I am extremely pleased with the results, especially for the 3 Carson City Morgans (1880-CC MS-64 DMPL, 1890-CC MS-63 DMPL & 1891-CC MS-63 PL), in retrospect after examining the coins I noticed that PCGS is much tougher on grading the common date "S" - Mint Morgans such as the 1879-S, 1880-S and 1881-S.
I submitted several very high grade 1879-S & 1881-S Morgans which all came back a point below what I felt was the lowest possible "lock" grade -- and each of which I thought was a shot 2 points higher than what they graded... I am pleased with the MS-65 & MS-66, but I thought thay they were each at least "lock" MS-66 & MS-67 and a shot at the next higher MS-67 & MS-68 grades.
I'll try to take some photos of them for posting on this forum in a week or two. The 1881-S that 66'd is one of the most beautiful Morgans I've ever seen -- with almost no perceptible contact marks and an incerdily clean cheek... The other 1881-S that made 64 is better than lots of 65's and some 66's that I've seen.
I guess that the moral of the story is don't waste your time (and money) submitting common date Morgans -- although there's not much financial risk at the $16 Economy Grade service level... I feel that it's best to buy already slabbed coins like these off the market which are likely undergraded...
I'd appreciate your thoughts, observations and experience along these lines. Thanks!
Stuart
Collect 18th & 19th Century US Type Coins, Silver Dollars, $20 Gold Double Eagles and World Crowns & Talers with High Eye Appeal
"Luck is what happens when Preparation meets Opportunity"
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As for an investment, these dates are still common and scarce dates are the better choice. As an example, I would rather own an 1893 Morgan in MS63 than an 1881-s in MS67. Just one man's opinion.
Experience the World through Numismatics...it's more than you can imagine.
Razorface: I understand how you feel about the apparent undergrade on your 1881-S. They are tough on them...
<< IMHO, the 1879-S and 1881-S are common coins even in the MS66 range. These dates, along with the 1880-s are the finest products of the entire Morgan Dollar series in terms of quality. In terms of overall beauty (not scarcity), these 3 dates are the stars of the Morgan series that were struck for general circulation.
As for an investment, these dates are still common and scarce dates are the better choice. As an example, I would rather own an 1893 Morgan in MS63 than an 1881-s in MS67. >>
CoinKat: I agree with your above quote from earlier in this thread. I've been collecting Morgans for about 30 years, since the early 1970's, and I've purchased a lot of beautiful 1879-S, 1880-S & 1881-S Morgans in MS-63 & MS-64 simply because they are beautiful coins and are (even more so back then) very reasonably priced.
I did not purchase them for investment, and agree that they are so abundant that they'll never be rare, but some are so beautiful that they have what I'd call "Eye Appeal Rarity" as opposed to condition or date rarity.
Thanks to you both for sharing your experiences on this topic -- I also invite others to join in on this numismatic discussion...
Stuart
Collect 18th & 19th Century US Type Coins, Silver Dollars, $20 Gold Double Eagles and World Crowns & Talers with High Eye Appeal
"Luck is what happens when Preparation meets Opportunity"