Concerns over coin I bought

[dan53]

http://i1220.photobucket.com/albums/dd4 ... 094-11.gif


Any comments would be appreciated.

[barrytrot]

What is your concern? It looks pretty good for MS64. And regarding DMPL, based on the pictures it certainly looks possible.

[dan53]

Well, the coin could have a little more reflectivity and the devices could have more frosting. As compensation, lady liberty's cheek and neck are practically flawless and the strike above the ear is great. I think maybe I did ok.

[HonestAbe]

Here is my PCGS DMPL $1, which I sold a while ago. I think it looks similar to yours, but I think PCGS grading is a little more conservative.

[dan53]

Honest Abe, thats a nice coin. I have seen 65's that didn't look that good. On my coin, the only wear I can find is on liberty's cap and on the cotton boughs and leaves. Looking your coin, I don't see that. I think my coin is a 64, but I think your coin should have been two grades higher (64). The reason I was concerned is that at MS64, my coin is worth $1900 in the grey sheets. If its only a MS63, its worth $150.00. I paid $1151.00 for it.

[HonestAbe]

Honest Abe, thats a nice coin. I have seen 65's that didn't look that good. On my coin, the only wear I can find is on liberty's cap and on the cotton boughs and leaves. Looking your coin, I don't see that. I think my coin is a 64, but I think your coin should have been two grades higher (64). The reason I was concerned is that at MS64, my coin is worth $1900 in the grey sheets. If its only a MS63, its worth $150.00. I paid $1151.00 for it.

First off, how did you obtain the coin? Auction, coin dealer. Do you have return privileges?

I sent that coin to PCGS to be graded, and was very disappointed, but the coin only cost me(raw) a fraction of what I sold it for!

My coin, according to PCGS price guide @ MS-62 DMPL is $130, and @ MS-64 DMPL would have been $2500!

When it comes to buying TPG certified coins, and most collectables today, buy with your eyes, not what someone tells you it grades at, especially when there is such a spread from $150 for MS-63 DMPL to $1800 for MS-64 DMPL according to PCGS!

If it was me, I would try to return it, if it's not to late.

[dan53]

Abe, I bought the coin at auction and I do have return priviledges. I will get the coin tomorrow. I just bought it. before I bought the coin, I did a history search of other MS64 DMPLS "completed sales" and of the 19 that had been sold, mine looked better than most, if not all. The thing that impressed me the most is the almost flawless condition of lady liberty's cheek. That area of the coin is the most influential when it comes to grading. Plus, on the Morgan, the obverse accounts for 75% - 90% of the grade. (Source: "Making the Grade" by Coin World) On this coin, the fields on the obverse and the reverse are in great shape. I may keep it. After all, I only paid 61% of wholesale. I'll know more when I see the coin.

PS: The price of this coin ranges from $1730.00 FMV at NumisMedia.com to...
$1900.00 on the grey sheets to....
$2000.00 in Coin World's ... Coin Value magazine.

PPS: The coin has appreciated from $900.00 to $2000.00 in Coin Value's Feb 2009 to Feb 2011 respectively.

Thanks for your input.