Quick Question on a 1878 8TF Morgan

StopMotion · November 28, 2005 9:33AM

What is the highest price to pay on a 1878 8TF Morgan PCGS MS64 and still feel good about your purchase.
I might have the opportunity to buy one and I want to have a price in advance.
Thanks again,
SM

StopMotion · November 28, 2005 12:49PM

TTT

Yale68 · November 28, 2005 12:49PM

Don't pay over $275 for it, unless it is one of the rarer VAM's.

StopMotion · November 28, 2005 12:53PM

So, why do PCGS MS-64 examples go for $375 to $400?
Are they paying to much?
Thanks,
SM

coinbuf · November 28, 2005 12:56PM

The last one sold on Heritage went for $356 with the juice. I did'nt look at that one but use that as a guide for an average price. If the coin your looking at is choice for the grade $400 would'nt be out of the question. If its a dog then $250 would be more in line.

Chris

Coxe · November 28, 2005 1:04PM

$300 from a dealer you know and respect sight-unseen. $1,000 if it is a gem in your opinion with all the attendant eye appeal. People have to stop thinking about slab tags (or technical grade for raw) and consider true market value now and then. I have bid in the neigborhood of treble the sheet price on pieces and lost before. In an auction, you never pay too much unless there is a shill. Someone out there was willing to go the distance with you up to a bid increment. That defines the market value for the coin. A private sale or a dealer's price is a little different. But if you have to ask a question at that point on serious money, then you haven't done your research.

If it is a good 1878 8TF VAM, that changes everything. There are more than a dozen varieties that are either unknown or prohbitively rare in mint state.

StopMotion · November 28, 2005 1:09PM

Here is an Obverse photo and an Reverse photo:

Think it's worth $350 to $400???
Thanks,
sM

StopMotion · November 28, 2005 1:13PM

Thanks for the tips!

Coxe · November 28, 2005 1:26PM

Looks like a VAM-18 to me -- a nice coin but not a major variety. A nice looking 64.

RedTiger · November 28, 2005 1:36PM

<< <i>
Think it's worth $350 to $400???
Thanks,
sM >>

It is a decent looking coin. It is okay at $350, $400 is a stretch. If you are patient, I think you can do better on price, or better on quality. The coin doesn't come up that often, but it is not exactly rare. Do you have your heart set on the 64 grade and PCGS? If not, it will be easier to find one.

I disagree with Coxe about the auction thing. If only two bidders bid a particular coin up, remove one of them and the way down maybe a LONG one, especially for the new collector. For relatively common coins such as the topic of this thread that lack unique toning, new collectors that pay big premiums tend to be left holding the bag. Another coin will come if a person is patient, especially if a person is not that particular about the exact grade or holder. For coins that come to market once a year or once every five years, or have remarkable eye appeal, the ball game is different. The topic coin is not in either of those categories.

RedTiger · November 28, 2005 1:46PM

Here's one in 63 that sold on Teletrade for $150 (about $182 with shipping and commission).

http://www.teletrade.com/coins/lot.asp?auction=2104&lot=1630

I like it better than the coin mentioned in the thread, but it is gone.

Coxe · November 28, 2005 1:57PM

I do actually agree with you, RedTiger, on common coins at auction, like the subect of this topic. I guess I am thinking of those items that you don't see at every sale and maybe not for years. An 1896-S DMPL, should it come up, is an example. The sheet is worthless as are all price guides in such a case. The other bidders and I would establish the market price for such a coin. I would also be very surprised if whatever the hammer fell at would represent a bad price that would not make money in a reasonable amount of time. Even if there are only two bidders on a truly rare coin, that long way down generally isn't an issue.

BAJJERFAN · November 28, 2005 2:13PM

Here is a kinda nice SPL in 64. There is a tiny gouge in front of her nose that is distracting. Are your pix from Heritage?

StopMotion · November 28, 2005 2:48PM

Hey guys thanks for all the tips.

No, i don't really care if it's PCGS, but thought it might be a better buy. I like Anacs, and would really like to get one from them, but I haven't seen any for sell on ebay. I would prefer a Ms-64, but I guess one grade lower and $120 cheaper might be better.
I have looked on Heritage, Teletrade. But have never signed up. It sounds like you can maybe snag some better prices on Heritage then Ebay. I guess since I sell on ebay that is what I'm used to.
I'm probably jumping the gun on the this coin. The one I pictured is not my favorite because of the scrap on her cheeck.
The last thing I want to do is spend more than I need to.

The photos are from an ebay auction.
Thanks again,
SM

BAJJERFAN · November 28, 2005 9:37PM

Looks like maybe the eBay lister "borrowed" the pics from Heritage.

Quick Question on a 1878 8TF Morgan

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