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New collector question about Morgan CC

Posted: Sun Jun 15, 2014 11:53 am
by gkulm
Hi, I just started collecting and mainly have bought from Ebay and TV. I like Morgan dollars and am trying to find good ones at a reasonable price. I try to find higher grade or UNC that I could have graded and increase their value.

I recently bought a 1882-CC in its original Carson City box, etc. Would it be better to leave it this way, or to have it graded (I am a member of PCGS) to preserve it and possibly improve its value?

Thanks for your advice.

Re: New collector question about Morgan CC

Posted: Sun Jun 15, 2014 2:59 pm
by Daniel
Are you referring to GSA Morgan Dollar in a black case? If so it was placed in that case in the early 70's and isn't an original package from the Carson City Mint FYI.

Usually these coins are better left in the holder as far as value is concerned. The 1882-CC is one of the most common dates found in the GSA holders, if that's what you have. I think PCGS does, but I know NGC grades the coins while they're left in these holders, but it's usually not worth the fees.

Most of these can be bought for $200 or less since most look MS60-MS63 and if you bought it for around $200 then put another $35 in it and it doesn't grade MS64 or better then you're actually not adding value. Just a thought.

It took me years of experience and study to learn how to grade coins from images and I still have an error rate of around 80%. PCGS just doesn't always agree with me. So plan on losing money until you get the hang of grading, if you're new as you stated. I don't mean to insult you but it's a hard business and everyone is looking for the "graders" now, thanks to the internet.

Anyway, welcome to the forum and would love to see your Morgans. I can help a bit with grading if the images are large and clear.

Re: New collector question about Morgan CC

Posted: Sun Jun 15, 2014 8:22 pm
by gkulm
Yes I was talking about GSA case.

Thanks for the information - it is about what I thought, but very helpful. I will check if PCGS grades them in the holder. I am learning that if you add grading fees, there isn't much left between cost and current value. But I was thinking that in the long run, a graded coin would increase in value more than a similar ungraded coin.

I do plan to keep these for a long time, possibly upgrading some as I go along. I am retired and see this collection as an investment but also something to pass along. Right now, I'm having a lot of fun searching for coins and learning their value, history, etc. I grew up in Idaho where Morgan and Peace silver dollars were very common; I had them in my pocket much more often than paper; sure wish I had saved some of those.

Thanks again for the prompt and welcoming response.

Re: New collector question about Morgan CC

Posted: Sun Jun 15, 2014 10:32 pm
by Daniel
You're welcome and glad to hear about your collecting and that you're having fun searching, searching for coins is the fun part.

Re: New collector question about Morgan CC

Posted: Mon Jun 16, 2014 12:06 am
by Paul
:welcome:

Re: New collector question about Morgan CC

Posted: Wed Jun 18, 2014 10:01 am
by dipper13
Several years ago I bought 4 1882 CC Morgans at a good discount. They were advertised as clean mint state. I sent them to NGC and got 3 ms62 and 1ms63. I was disappointed at first, but now I realize that they were all borderline 62-63 coins. They were worth the investment in the long run! Dan

Re: New collector question about Morgan CC

Posted: Wed Jun 18, 2014 11:03 am
by gkulm
Thanks for the input, Dan. Well, I don't think I bought at much of a discount but think it will be a good investment in the long run. They aren't making them anymore for sure! :-) Still deciding whether to go ahead and get it graded. Best, Gerald

Re: New collector question about Morgan CC

Posted: Wed Jun 18, 2014 11:18 am
by dipper13
There are guys here who are excellent graders. why don't you post pix, They will give you an unbiased opinion??

Re: New collector question about Morgan CC

Posted: Wed Jun 18, 2014 7:58 pm
by gkulm
OK, I would appreciate any opinions on the grade of this 1882-CC Morgan. The seller did not include images. Please excuse my attempt at scanning; hope you can see it well enough to get an idea. Gerald

Re: New collector question about Morgan CC

Posted: Wed Jun 18, 2014 8:44 pm
by Daniel
The images are blurry and I couldn't be certain on a grade here. However, based on what I can see, it could grade MS63. If a clearer image doesn't reveal any deep contact marks or copious amount of chatter then I might change my opinion. It looks like a nice coin.