1880S Morgan

pronghorn · Dec 5, 2014

A friend wants to sell me PCGS MS 65 Morgans for $125
He has a pile of them graded in the 70's
I think it is a fair price.
Just wondering what you people think and if there is any money to be made?

masterjedi · Dec 5, 2014

Compare this date and grade on eBay for ones that have sold.
Here is a ms 64 for sale now...
1880 s Morgan Dollar PCGS MS64 | eBay

When you say he has a pile of them in the 70's

Something fishy here?? They only go up to 70!

At $125 you are paying full price...

cudamark · Dec 5, 2014

I think he indicated that they were GRADED back in the '70's.

dejapooh · Dec 6, 2014

I would send a few as samples back for regrade. Professional grading began in the 1970's,and there was quite a bit of flexibility in the numbers back then. As I remember it, they did 60, 65, and 70 to start. Eventually, they added 63 and 67. It wasn't until later that they added all of the interim numbers.

pronghorn · Dec 9, 2014

masterjedi said:
Compare this date and grade on eBay for ones that have sold.
Here is a ms 64 for sale now...
1880 s Morgan Dollar PCGS MS64 | eBay

When you say he has a pile of them in the 70's Something fishy here?? They only go up to 70!

At $125 you are paying full price...

Sorry for the confusion.
The coins were graded in the 1970's by PCGS
You see them on ebay in the old sealed plastic with an old looking PCGS label inside the sealed plastic.
I have been buying junk silver from him for about 5 years.
He calls the local coin shop (which is 200 miles away, yes we live in the great North American Outback)
They quote him a price and he knocks off a percentage for gas price/mileage and if I like his price, I will
buy what he is selling.
I have bought a few of his old graded coins as he won't sell me junk anymore.
I guess I just have to take the trip and see if I am getting a deal or not
Lately he is only wanting to sell his collectables for whatever reason.

This is what the case they are in looks like, I am not saying this is what the coins look like as
far as quality, just the style of sealed cases they are in as far as the date they were graded,
pre bar code and look to be from when he says he bought them in the 1970's

1880 s Morgan Silver Dollar MS 65 PCGS OGH 1280 | eBay

If he is not giving me a bargain I will cease my purchasing and not be out too much, I am just
curious as to whether it is a fair deal or not, again, sorry for any confusion I caused with my
non specific post.

pronghorn · Dec 9, 2014

Here is another sample I found on ebay...

http://www.ebay.com/itm/1880-S-MORG...38?pt=Coins_US_Individual&hash=item27f0d1c1de

the only difference is the bottom number

this one reads...
07118.65/3060670

the ones I bought read
07118.65/3114901 etc.
I have bought maybe 10 or 12 so far so not in too deep,
just need to know if I am getting a deal or if I should cut
my loses and get out now? Thanks for your input one and all.
Good luck and thanks again. T

sorry to keep reediting but found another similar coin.
makes me think I didn't mess up too much.

http://www.ebay.com/itm/1880-S-Morg...68?pt=Coins_US_Individual&hash=item4d28338d68

Well after more reading/research I found an article that stated PCGS was founded in
1986, so these coins could not have been graded or purchased in the 1970's,
going to have a serious talk with my seller tomorrow!!!!!

http://news.coinupdate.com/old-green-holders-0745/

jerseyben · Dec 9, 2014

Please know that the 1880-S issue had one of the strongest strikes in the series. They are common in high grades.

See here for proof:
PcgsCoinFacts.com : Your Online Reference for U.S. Coins