What Would You Pay For This Coin At Auction? ACTUAL AUCTION RESULTS POSTED

CalGold · June 28, 2005 8:55AM

What would you pay for this coin at auction?

1889-S

Grading, like pricing, is your call. It is in an old PCGS rattler holder.

Recent auction results:
MS66: $4,485 to $4,600
MS65: $1,207 to $1,495
MS64: $ 402 to $431
MS63: $ 287 to $402

Additional hypothetical facts: You collect Morgans and need this date. Although buying this date on the bourse floor might be a better alternative to chasing one at auction, because of your constant anti-dealer rants on the PCGS Coin Forum no dealer will do business with you–not even the wannabes. Assume also for the purpose of this thread that your negative feedback on ebay is so bad that everyone has you on their blocked bidder list. And your credit is no good at any other house except for this one which is so big that you have managed to fly under their radar.

Actual Grade and Price Realized: PCGS MS65 price $1,322.50 with the juice.

The auction description is

<< Peach, cream-gray, and lavender colors consume this lustrous and refreshingly undisturbed Gem. The strike is good although not razor-sharp >>

This coin drew a lot of negative comments from forum members posting to this thread. Most thought it worth no more than a low MS64 price; some just said they would not buy it and no one said anything positive about it.

The scan probably does not show the color and luster in its true light. But still, I thinnk that the marks on the face are more than most buyers would accept at the MS65 grade. So much for the theory that coins in old rattlers are undergraded by current standards.

Beauty, grade and value are in the eye of the beholder I guess.

Does anyone know what blue sheet bid is. That would create a price support for any coin in a PCGS 65 holder since if a dealer could buy it for less than bid he could flip it at a profit at the sight unseen price.

Thanks to all who responded. And sorry for any kinked necks.

CG

RYK · June 28, 2005 8:58AM

With all of these hypothetical conditions, I would feel like such a numismatic (and overall) loser. Add to that the fact that I am forced to buy a Morgan, suicide would be the only reasonable solution to the circumstances.

Russ · June 28, 2005 9:00AM

I wouldn't pay anything for it. Somebody snipped off the date.

Russ, NCNE

CalGold · June 28, 2005 9:00AM

RYK,

The hypothetical facts are so that you gold guys can't respond by saying "its a Morgan so I would bid zero"

CG

elwood · June 28, 2005 9:01AM

my neck hurts

Darkmane · June 28, 2005 9:01AM

i wouldnt buy it - i dont like it

coinbuf · June 28, 2005 9:01AM

I cannot read the date??

Chris

CalGold · June 28, 2005 9:02AM

Its an 1889-S. Don't know why the link cropped off the date.

CG

RYK · June 28, 2005 9:02AM

CalGold, you have essentialy tricked us into a "guess the grade", but instead of limiting up to the usual four grades (63, 64, 65, and 66), we can choose all the grades in between.

CoinAddict · June 28, 2005 9:05AM

I would wait for a different one. I do not like the look of this one going by the pics.

CalGold · June 28, 2005 9:05AM

<< we can choose all the grades in between. >>

RYK,

You are correct in a sense. I thought a buy the coin not the holder exercise might be fun for a change. So you can grade it by price.

CG

coinbuf · June 28, 2005 9:05AM

Ok 89-S, I'd bid no more than $375.

Chris

ColonialCoinUnion · June 28, 2005 9:06AM

<< my neck hurts >>

eyoung429 · June 28, 2005 9:06AM

Dang....fell out of my chair trying to look at this one. One question, why all the junk in the holder?

charley · June 28, 2005 10:18AM

Should VAM if any, and cleaning be taken into consideration?

CalGold · June 28, 2005 10:25AM

Any and all matters concerning the coin should be considered. Condtion, VAM, toning, eye appeal, even the $5 it would cost to get it reholdered so that you don't have to crane your neck to look at the darn thing.

CG

au58 · June 28, 2005 10:29AM

Coinbuf is close. An unattractive 64 can be bought for $375.

Shamika · June 28, 2005 10:39AM

$301.00

BAJJERFAN · June 28, 2005 10:48AM

I would pass; I already have one way nicer than that junker.

DenverDave · June 28, 2005 11:08AM

I would grade it at a 63 or a light 64...

I love Toning but that Toning is a little distracting...

Plus the strike is soft...

Personally I would pass...

roadrunner · June 28, 2005 12:09PM

I don't find it too offensive. Possibly as high as MS65 if the luster is decent. Appears to have a left obv field scuff which could limit it to a 64. I'd consider it a rip as a MS64 for $450 to $550...imo

roadrunner

morgannut2 · June 28, 2005 12:24PM

The reeding marks on the cheek and on the eagle's breast, forever keep it from a 65 holder under todays standards. If it dips out OK, it might be a decent 64 worth $375-$400 in the new holder. Then it's a question how much less than that you feel you should pay for the aggrevation, risk, etc. I don't like dipped coins, so I'd want to get a bargin. And the toning is fugly---

robertpr · June 28, 2005 1:31PM

<< $50 max and then I might kick myself in the arse for buying it. >>

And if you don't kick yourself in the arse, I'll do it for you

beartracks42 · June 28, 2005 1:45PM

I like the PCGS 58 I just got back , so I would pass on this one.

WACoinGuy · June 28, 2005 2:43PM

<< 
Additional hypothetical facts: You collect Morgans and need this date. Although buying this date on the bourse floor might be a better alternative to chasing one at auction, because of your constant anti-dealer rants on the PCGS Coin Forum no dealer will do business with you–not even the wannabes. Assume also for the purpose of this thread that your negative feedback on ebay is so bad that everyone has you on their blocked bidder list. And your credit is no good at any other house except for this one which is so big that you have managed to fly under their radar.
>>

So wait, my options are to buy from this auction house, inherit it, or dig it out of the ground?

Myqqy · June 28, 2005 3:26PM

If this was my last resort, then I guess I would cough up $400......

Heywood · June 28, 2005 11:01PM

Based on your qualifiers, $375.

otherwise 250.

DrWho · June 28, 2005 11:16PM

so it looks like a 65 from heritage site(?). the fotos on heritage are MINUS the hits on MsLib, cheek and hair????? given the hits, can't see how/why she hit 65. (am i seeing right).

BAJJERFAN · June 28, 2005 11:51PM

<< So wait, my options are to buy from this auction house, inherit it, or dig it out of the ground? >>

No matter how much of a chump one is I spose he could aiways find smoeone else to buy it for him.

CalGold · June 29, 2005 1:56AM

Actual Auction Results and Grade now shown in first post.

CG

KurtHorn · June 29, 2005 2:05AM

As far as bag marks go I can agree with a 65 grade. I've certainly seen worse. But eye appeal... yuck. Some coins in the Old Clackers took on a funny dull toning look. Some because they have PVC damage that wasn't caught before they were put in the holder's. This coin is probably a candidate for a prolonged soak in acetone. Probably an NCS cadidate. I bet a dealer picked it up figuring he could play with the eye appeal...

BAJJERFAN · June 29, 2005 2:15AM

<< The scan probably does not show the color and luster in its true light. But still, I thinnk that the marks on the face are more than most buyers would accept at the MS65 grade. So much for the theory that coins in old rattlers are undergraded by current standards. >>

Do you think that if PCGS knew 20 years ago what they know now that a lot of those coins in old rattlers would have been graded even more conservatively than they were?

What Would You Pay For This Coin At Auction? ACTUAL AUCTION RESULTS POSTED

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