Kind of dumb to send a 1893-S dollar to SEGS for grading, or am I just too cynical?

SeattleSlammer · February 23, 2007 11:57AM

Auction link

DennisH · February 23, 2007 12:00PM

My mind immediately assumes it went to SEGS because the odds of a real grading service putting it into a holder were not good.

Looks like a VG10 to me too.

braddick · February 23, 2007 12:01PM

Larry Briggs is excellent at authenticating key date coins such as this Morgan.

It sure beats the heck out of trying to buy one of these raw, don't you think?
Plus, the coin grades itself. Pretty much a Fine in anyones holder and I'd think (hope!) a collector willing to pay 4K+ for one of these is also capable of grading it.

SeattleSlammer · February 23, 2007 12:04PM

braddick, good point, I agree that if you're gonna pony up the 4k, you better have a clue!

ziggy29 · February 23, 2007 12:07PM

I'm not sure it would have been my first choice for resale, but for what this coin is, I think SEGS would do as good a job as any of the Big Four.

commoncents05 · February 23, 2007 12:08PM

I agree with Dennis. When I see key coins in any slab but the top 3, I question why they aren't. I would think this one was sent to PCGS or NGC at one time and the results weren't favorable, so the owner kept working his way down the TPG ladder until it ended up in a holder. I think it's authentic, from what I can see, so it must have a problem somewhere.

-Paul

braddick · February 23, 2007 12:08PM

I don't know what it is about the 1893-S date, but there sure are a lot of crappy lookinf ones floating out there in everyones holders! The one shown looks decent actually.

braddick · February 23, 2007 12:12PM

I'd also add, (and not to be a real downer) no matter how shabby the coin looks, these Key date Morgans just keep going up in price! It appears, overall, this date has doubled in just about all circulated grades over the last few years.

DennisH · February 23, 2007 12:20PM

I have to agree with Pat that this coin certainly looks natural, original and attractive.

What's Grey Sheet Ask on a '93-S in VG and in Fine?

SeattleSlammer · February 23, 2007 12:32PM

I don't know, too many SEGS holders turn into tombs, so I guess that's why I'm cynical about it.

ziggy29 · February 23, 2007 12:51PM

<< <i>I don't know, too many SEGS holders turn into tombs, so I guess that's why I'm cynical about it. >>

Part of the reason is because you need dynamite to get the coins out of them.

SeattleSlammer · February 23, 2007 12:52PM

ziggy29,

so true!

Kind of dumb to send a 1893-S dollar to SEGS for grading, or am I just too cynical?

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