Advice Needed: 1884-S AU58 Morgan

RichR · June 12, 2011 3:09AM

I'm looking to fill this long empty hole in my personal collection and I'm tracking numerous possibilities, but the price range seems all over the map for this particular coin/grade (+/- $500).

What's a realistic ballpark number for a solid clean example of this coin, preferably white with decent luster (for a 58)?

joebb21 · June 12, 2011 3:25AM

$850-$1150

There are plenty of 58's out there so be patient.

LeeBone · June 12, 2011 3:52AM

A nice example may run you closer to $1500

Something like this is what I`m referring to...

I was lucky on this one. Picked it up in Baltimore 6-8 years ago in an NGC holder at a good price and crossed it.

Edited for Pop. in AU58... 653

Pop. Higher... 243

Tough coin in 58 as many are 55 and below.

Good luck

7Jaguars · June 12, 2011 3:57AM

Have seen some 55s actually nicer than many 58s...Just a thought.

DennisH · June 12, 2011 4:58AM

1884-S in AU58 is a coin that requires tremendous patience. As already stated, there are a lot of them out there. If you are committed to get an AU58 (versus a 55) the range of quality will make you speechless. Personally, I don't think you should settle for anything other than a coin that makes you say "mint state" the instant you see it... time and time again. But those kind of coins are expensive and scarce, because less-than-ethical types snap up the ones in holders and sell them as raw MS61s or 62s. Be prepared to spend at least $1200 and maybe up to $1800 for a PQ PCGS AU58. But if all you want is a coin that says 58 on the holder, those can sometimes be as little as $750.

RichR · June 12, 2011 5:52AM

All good advice, as I'm just surprised that I'm seeing as much as a 100% swing ($900-$1,800) for the same grade...but granted, some on the lower end seem quite flat/dull.

I'm also keeping an eye on one nice coin in partcular that has a jelly bean for about $1,400...but I thought I was being nuts for even considering that much of a swing. But from what you're all saying, I guess this is just one of those particularly odd coin/grade combinations.

Bear · June 12, 2011 6:59AM

I havwe always believed that a true quality AU-58 had all of the characteristics of

a MS-63 or 64 with a little high point rub. It was a lot of coin for the money. Sadly,

many of these wonderful coins have been played with and upgraded to a point

that',they are no longer the bargains that they once were. There are still a number

out there, for the various classical type, but you are going to have to be patient, examine

each very carefully and expect to pay MS money for them. Still, it is a most worth while

under taking. Another grade that is rather new is the MS-64+ by PCGS. . The coin, is basically

a Gem coin, just a few fractions of a point away. It is also a lot of coin for the money. The

same care in evaluating and selecting is required as with the AU-58,, but is well worth the effort.

Broadstruck · June 12, 2011 7:32AM

A super slider I feel will be in the $1700 to 1900 range.

LindeDad · June 12, 2011 8:52AM

The spread in prices made me go a little lower and just fill the slot with a AU50.

TennesseeDave · June 12, 2011 10:19AM

This looks like a nice one. If it doesn't sell you could e-mail the seller and try to get it cheaper. Good seller too.

84-S AU-58 and C**'ed

BAJJERFAN · June 12, 2011 1:34PM

<< <i>A nice example may run you closer to $1500

Something like this is what I`m referring to...

I was lucky on this one. Picked it up in Baltimore 6-8 years ago in an NGC holder at a good price and crossed it.

Edited for Pop. in AU58... 653

Pop. Higher... 243

Tough coin in 58 as many are 55 and below.

Good luck

>>

Not disparaging the coin at all, but for those who say a 58 is a 62 or 63 or 64 with a little rub or wear, this coin doesn't even come close to that IMO. In fact, I don't think you could call that a 60 with rub. It has obviously been in circulation long enough to take a little abuse. I have and have had several tougher date Morgans in au58 and none of them could be considered anywhere near uncirculated with rub.

DennisH · June 12, 2011 2:56PM

<< <i>This looks like a nice one. If it doesn't sell you could e-mail the seller and try to get it cheaper. Good seller too.

84-S AU-58 and C**'ed >>

There are better ones out there. This one leaves no doubt at first glance that it's circulated. Heritage has sold 7 AU58s for at least $2000, and three at $2530.

RichR · June 13, 2011 2:28AM

<<Heritage has sold 7 AU58s for at least $2000, and three at $2530. >>

I'd like one of those $2,000 coins please, for $1,300...

ziggy29 · June 13, 2011 3:51AM

I'd echo what others said -- there are a LOT of AU-58s of this date, at least in part because condition rarity Morgans are graded MUCH tougher when it comes to "traces of rub" or "cabinet friction." Common dates that may go 62 or 63 come back as 58s quite a lot when it's an '84-S, '96-O, '01-P and others that are condition rarity dates. If there's even the *slightest* rub or luster break for this date, it will likely return in a 58 holder. There is virtually no benefit of the doubt for these dates.

One of the reasons for a large difference in price is that there are some 58s that are "commercial" 58s and there are some "AU-62" and "AU-63" coins out there which would very likely be in MS holders if they weren't condition rarity dates, and these should be the ones that fetch a considerable premium from sheet for the 58 grade.

RichR · June 13, 2011 5:06AM

<<If there's even the *slightest* rub or luster break for this date, it will likely return in a 58 holder. There is virtually no benefit of the doubt for these dates.>>

Are you implying that not all dates in a series are graded "equally" just because of potential value?!?!? I'm shocked...SHOCKED!!!

Advice Needed: 1884-S AU58 Morgan

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