Bad news about my 1902 S Morgan...

[Spartcom5]

Hey guys so before I start I know I still got a great deal for $24. However, it went unnoticed until today, funny thing is none of the coin guys mentioned it at all. I just saw this on the rim of the coin... A decent size clip out of the reverse rim, I don't know how this could have happened like it did. Maybe a machine of some sort? If someone dropped the coin I wouldn't expect the clip to look like this. Dang! If I were to get this graded I'd expect it to come back at a lower grade or Rim Damage of some sort. What do you guys think? Really bummed out right now! This was going to be my first grade worthy coin...

 

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[kcm]

Don't fret too much. If there's a particular coin guy you trust more, take it back there again and specifically ask about that spot - see what they say; how they react.

 

[Spartcom5]

Posted it on a couple of forums and some people agreed that it's highly unlikely something like that is a PMD, most likely happened at the mint given the overall condition. However, one still said that it would come probably come back as a details coin, but most said it was fine and to grade it. Makes my decision that much harder!

 

[wagbert]

It is still a very nice scarce Morgan. The "chip" is not in an obvious place, like a cheek bag mark. I don't think it would affect the grade at all. I've seen much larger rim hits in 3rd party graded slabs that were not taken into account.
You have a keeper there, and at a super good price. I would be smiling if I owned it.
Good Luck,
Phil

 

[jerseyben]

PMD.

 

[huntsman53]

As I stated in the previous Thread, the coin appears to have been mounted in a bezel and if so, then it may be damage from when it was removed from the bezel. Due to the rim indent/ding, you may not be comfortable sending it off to a Third Party Grading Service and paying for certification and grading and possibly having the coin come back with a details grade or negative notations on the holder's label. If this is the case and you really don't want the coin in your' collection, then sell it and buy other problem free coins with the windfall you get on selling the coin.


Frank

 

[Spartcom5]

Took it to a reputable coin dealer in my area who has been in the coin business for quite some time. He said confidently that it is AU for sure and the ding shouldn't be a problem. He said it didn't even look like something that would happen from dropping it or PMD, I presented the bezel idea and he didn't think that was right (although I think it is plausible!)... He thinks it should grade nicely without a Details or Damage grade. However, you can never be sure until you get it back. Should I go with NGC on this one? Also, if I get it graded it will be around $60-70 and if it comes back as damaged or details I think I still got a decent deal no? If this were one of your guy's coins would you grade it? I would love to have it graded for my collection as a coin I FOUND in the wild!

 

[cudamark]

If I was going to sell it, I'd probably get it graded. Otherwise, I wouldn't.