Highest Graded Morgan Ever. MS 69 PL
theump
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Apologies if this is old news.
LOS ANGELES, Dec. 1, 2011 /PRNewswire/ -- With the popularity of coins rising along with their corresponding precious metal prices, collectors around the world are taking notice of a recent US Coin Auction. Why? The highest graded Morgan Dollar, which was graded MS69 Prooflike by PCGS, was on the auction block. Art & Coin Television placed the winning bid for this exceptional 1880-S Morgan Dollar!
Out of nearly 5,000,000 Morgan Dollars that have been graded by third-party grading services PCGS and NGC, only one coin has graded at this level for any date or mint mark in the entire Morgan Dollar series! Only 9 Morgan Dollars have ever graded at an MS69, but no others have ever had the designation of Prooflike, literally making this coin the finest Morgan Dollar money can buy. This is a coin that truly stands alone.
The grading system used by PCGS and NGC is based on a 70 point scale, 70 representing a flawless coin. The Morgan Dollar was minted from 1878-1904 and then again in 1921. No Morgan Dollar has ever graded at the 70 level due to inconstancies in the minting process throughout the years, making the MS69 Prooflike grade of this 1880-S Morgan truly astonishing.
"Owning the finest Morgan Dollar that exists is just an amazing honor for Art & Coin Television. As a company that prides itself on the finest quality, purchasing this 1880-S Dollar graded MS69 Prooflike is truly a feather in our cap," said Jack McNamara, senior coin buyer for Art & Coin Television.
Art & Coin Television is excited to add this stunning coin to its corporate collection, helping to solidify its reputation not only as the foremost collector's source for buying coins, but as a numismatic leader. The addition of this coin brings great pride to the company and co-owners Barry Chappell and Greg Thomas.
LOS ANGELES, Dec. 1, 2011 /PRNewswire/ -- With the popularity of coins rising along with their corresponding precious metal prices, collectors around the world are taking notice of a recent US Coin Auction. Why? The highest graded Morgan Dollar, which was graded MS69 Prooflike by PCGS, was on the auction block. Art & Coin Television placed the winning bid for this exceptional 1880-S Morgan Dollar!
Out of nearly 5,000,000 Morgan Dollars that have been graded by third-party grading services PCGS and NGC, only one coin has graded at this level for any date or mint mark in the entire Morgan Dollar series! Only 9 Morgan Dollars have ever graded at an MS69, but no others have ever had the designation of Prooflike, literally making this coin the finest Morgan Dollar money can buy. This is a coin that truly stands alone.
The grading system used by PCGS and NGC is based on a 70 point scale, 70 representing a flawless coin. The Morgan Dollar was minted from 1878-1904 and then again in 1921. No Morgan Dollar has ever graded at the 70 level due to inconstancies in the minting process throughout the years, making the MS69 Prooflike grade of this 1880-S Morgan truly astonishing.
"Owning the finest Morgan Dollar that exists is just an amazing honor for Art & Coin Television. As a company that prides itself on the finest quality, purchasing this 1880-S Dollar graded MS69 Prooflike is truly a feather in our cap," said Jack McNamara, senior coin buyer for Art & Coin Television.
Art & Coin Television is excited to add this stunning coin to its corporate collection, helping to solidify its reputation not only as the foremost collector's source for buying coins, but as a numismatic leader. The addition of this coin brings great pride to the company and co-owners Barry Chappell and Greg Thomas.
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Comments
Where's the picks and what was the winning bid?
Too many positive BST transactions with too many members to list.
I can imagine, but I'd rather not if it turns out to be what I'm thinking the company is!
More like 67+
AB
<< <i>Looks like one heck of a Morgan technically in HA`s close up pic of it... Thanks for the link "mbbiker"...With that said someday soon i will be submitting my "Killer Tomato" (currently NGC 68*) into PCGS... I now more then ever although not PL sincerely believe it has a great shot for an upgrade... Todd it sounds like you have seen the 69PL coin in hand?
AB
Yeah I saw it at lot viewing for the auction. There was a thread on the coin leading up to the auction, I believe Dragon started it.
AB
<< <i>Yeh, that grade is a JOKE!
More like 67+ >>
I agree, the cheek looks too 'busy' for such a high grade.
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I see the tenfold price increase between 68 and 69 and am underwhelmed by the coin from the picture. I'd have to view it in hand along with some 68s, and while I'm sure it's an incredible coin, I have a hard time believing it is really $75000 wowier than a 68.
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<< <i>wow, there are a lot hits, i think, for a 69. 69? really? hmmm... >>
No-one can see what appears to be a heavy gouge in the tip of the hat?
I have a nickel that was graded MS66 in-spite of the heavy scrape marks on the lower coat. But,
using one of those 5X Square magnifiers, if you don't move it around over the coin, details get lost
in the peripherals of the glass on the magnifyer. I discovered this just the other day and think this is
the reason for the misgrade.
The more qualities observed in a coin, the more desirable that coin becomes!
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I have never owned better than a 67 and to be honest i was never all that impressed with the 66's i owned either but i never sold them for a discount cause someone thought they we 64's.
If someone that comes on this forum had bought the coin the replies would be different, but the TV guys get treaded like dirt.
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working on proof shield nickels # 8 with a bullet!!!!
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<< <i>wow, there are a lot hits, i think, for a 69. 69? really? hmmm... >>
No, there are not a lot of hits on that coin, and the very few scattered blemishes are just small frost breaks or tiny insignificant ticks and not hits.
I do see a tiny contact mark that is barely perceptible without a strong glass and located in a non grade sensitive area. It could hardly be called a heavy gouge by any stretch IMO.
<< <i>
<< <i>wow, there are a lot hits, i think, for a 69. 69? really? hmmm... >>
No, there are not a lot of hits on that coin, and the very few scattered blemishes are just small frost breaks or tiny insignificant ticks and not hits. >>
ok, but is a 69 supposed to have all those blemishes/ticks/breaks? i thought a 69 was damn near perfect. i see a lot of imperfections on it.
<< <i>I do not and will not ever own a ms69 pl morgan, but i am not going to knock someone elses. >>
so, we can't comment on coins we don't own? gee, i was heavily mistaken.
<< <i><<< No-one can see what appears to be a heavy gouge in the tip of the hat? >>>
I do see a tiny contact mark that is barely perceptible without a strong glass and located in a non grade sensitive area. It could hardly be called a heavy gouge by any stretch IMO. >>
Here's what I'm looking at. Lilely a couple of reed marks.
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
someone posted a link to another ms69 morgan within the past 60 days here
it also looked like a 67-67+ it was very disappointing
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<< <i>
<< <i>I do not and will not ever own a ms69 pl morgan, but i am not going to knock someone elses. >>
so, we can't comment on coins we don't own? gee, i was heavily mistaken. >>
Knock it all you want.
I should have clairified that i would not knock the coin based off of pics. In hand, in person fair game i suppose, but a blown of picture? It did not recieve the 69pl based off a pic, they had it in hand. They are suppose to be the experts, while not perfect they do get most right and you would think that to get a 69 they spent more than the regular 7 seconds.
NGC registry V-Nickel proof #6!!!!
working on proof shield nickels # 8 with a bullet!!!!
RIP "BEAR"
To say that MS69pl is higher than MS69 is simply nonscence. (imho)
Anyway, there is a Morgan that is MS69 and CACed- so that may well be the finest Morgan ever.
1. I also noticed several ticks and marks all over the coin...are those given a pass due to age?
2. The "T's" base in Liberty is not formed/struck well...or is that normal for the Morgans?
3. I see a lot of "color" or corrosion marks (tiny, but still there). Does age-related blemishing get a pass?
4. It also LOOKS like the coin has quite a bit of tarnishing...is that due to the camera's inability to capture the frost (I've seen this often in ASE's), or is this actual tarnishing? And does tarnishing get a pass due to age?
Again, sorry to be ignorant...but ya gotta learn somewhere and it appears there are some heavyweights on this thread...
Thanks!
<< <i>How much did it sell for? >>
$86,250.00
<< <i>Not the most exciting coin in person. >>
Yeah, just from checking out the up close images I counted like 8 hits arcoss the face and cheek???? Sup with that?
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<< <i>I am brand spanking new to the Morgan world (sorry, been in Modern Land my collecting life because of the "flipping" excitement!), so I am learning and do not mean to offend with my questions, but:
1. I also noticed several ticks and marks all over the coin...are those given a pass due to age?
2. The "T's" base in Liberty is not formed/struck well...or is that normal for the Morgans?
3. I see a lot of "color" or corrosion marks (tiny, but still there). Does age-related blemishing get a pass?
4. It also LOOKS like the coin has quite a bit of tarnishing...is that due to the camera's inability to capture the frost (I've seen this often in ASE's), or is this actual tarnishing? And does tarnishing get a pass due to age?
Again, sorry to be ignorant...but ya gotta learn somewhere and it appears there are some heavyweights on this thread...
Thanks! >>
1. Marks are not given a pass for age, but a coin could have marks "as made" which do not hurt the grade directly (but may reduce eye appeal, which could lower the grade). For example, early dollars can show "adjustment marks" which occurred when overweight planchets were filed down to the correct weight, and were not completely obliterated by the strike. Marks that occurred after minting affect the grade based on where they are on the coin (and of course the size of the mark). Each coin has "prime focal areas" and marks in those areas hurt the grade more. For example on a Morgan a mark right in front of the face (a prime focal area) will hurt the grade more than if that same mark was in the hair.
2. Don't know.
3 & 4. Toning/tarnishing may enhance eye appeal or may detract from eye appeal, and can affect the grade in that way. Or it may not affect the grade at all. The main point to remember is that toning is not automatically bad or automatically good.
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
When PCGS was grading this coin, they were, in effect, confronted with all these special qualities, all in one coin, where could they go with it all? This might be one of those tantalizing coins that pushes for the 100 point grading system. Where to go with a coin with this many qualities so it stands above the rest of the lesser quality type of coins? We certainly can't push down the coins that have already been graded a point or 2, to place it in the MS68 category or MS67.
Another problem that arises is the market grading of it, catering to those who can't grade, where to go with that aspect of grading. Sure, we all like to think a MS70 coin should be perfect if ever a coin was given such a grade but nonetheless, this coin has 2-3 extra scoops of ice cream that gives it that much more eye appeal above your average coins. And where is the plus designation for this coin? Is PCGS waiting for a submission for this + thing? It all just doesn't make any sense!
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
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The important thing to me is whether or not I like the coin. The grade and slab are secondary.
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"Sou Mangueira......."
69PL vs. 68PL Morgans (obviously equally near impossible to tell the difference between the two grades on "any given Sunday" especially to the modern coin experts). This can mean the difference of tens of thousands of dollars I suspect
Any real difference between the 2 examples other than the bigger $$$$ involving the classics?
Wondercoin
<< <i>I dare them to break out that coin. >>
Why? So they could try for the next higher grade?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
As an example, most Morgan maniacs can typically easily decide if a dollar is an MS64 or MS65 at a glance, however telling the difference from a strong 66 to a 67 becomes a little trickier for most. To tell a really nice or even above average 67 from a 68 becomes even more difficult for most, and when you go 68 or better opinions may vary widely and the overall eye appeal thing comes in. People in general nearly always underestimate eye appeal on high grade coins and the role it plays in the final grade.
You also don't grade Morgan dollars or Trade dollars or Barber halves or seated dimes like you would grade a 2011 silver eagle. There are far more factors that come into the grading equation on classic coins.