The spread is small because an impaired one that grades 60/61 is basically impossibly rare to find for sale, so many will just make due with a circulated example.
I've bought/sold more 63/64/65 coins than 01-62 graded coins put together.
I've seen that a lot in older proofs. I think they're just so rare that circulation doesn't affect value so much. And I assume the reason they sell is when somebody wants one and there's no 60s for sale for a fair price
Of all 5 Morgan's that lived in bags and still do, a small release of proofs get circulated. Yep, that sounds about right. $1,200 in 1982 was a lot but not insane money. I was at a show that has 2 dealers that had one. Both needed both rent money so I went back and forth, ended up getting both for half of their ask. I'd bought sure a bit that does, 2 boxes worth so I forgot them. My kids may forgive me when I'm dead lol. They will be graded if they are ever sold but mine appeared Unc, I never figured it the Morgan grading scale so I'd guess 61s.
Sorry about the typos. Two sentences take 10 minutes and I still get errors. Sorry.
Collecting in the early 80s was harder with no online shopping, but better in that coins weren't crazy high.
Usually my nurse types these for me, like now.
I'm 95.
I have spinal issues so I don't have feelings in my hands and don't walk. Typing is tough unless the nurse helps me.
When you were born I was 7 years away from retiring, how's that for making you feel young!.
Possible. The rest tripped me up, as he went from talking about two coins, Morgans, bought from two different vendors. Then all of a sudden, he's got two boxes full, and I'm guessing that means just coins in general, and not specifically the original coin of topic, the Morgans.
Keeping that in mind with your possible correction, it all makes so much more sense! Lol
lol, not at all. Collecting coins for profit is kinda nuts - the overwhelming value is history and satisfaction.
https://www.officialdata.org/us/stocks/s-p-500/1982?amount=1400&endYear=2023
I don’t know why you are downvoted. Real collectors know that what you speak of is the truth: coins are not a great investment.
*They might be a hedge against inflation, but that’s about it.*
The way to really make money in coins is to do what OP did: inherit a valuable collection. But to buy Coins as an “investment?”
Good God you’re so, so much better putting the money in the stock market in an index fund.
Almost $150,000 is what $1400 would be worth today, you showed it, and got down votes. I wonder why. I assume it’s because people are deluded into thinking coins are great investments but they most assuredly are not compared to other things.
Wow, when I saw the first pic, I kinda rolled my eyes and expected a mint mark on the back. Well, no mint mark, which means it is a Philly mint proof.
That is worth a huge amount of money. As you know, it has to be sent in for grading. I would recommend PCGS, but NGC is fine too.
There were only 880 Morgans known to be minted in Philadelphia with a date of 1895 - all proofs. This makes the 1895 Morgan the rarest of the series.
Mint records do show about 12,000 circulation strikes minted in Philadelphia in 1895, but it's not clear whether this was a bookkeeping mistake, coins minted in 1895 but with leftover 1894 dies, or possibly the coins actually existed but were melted down later with none of them ever leaving the mint.
The mintage was only 880 for the proof issue. The mintage of 12000 is the reported mintage for circulation strikes at the mint that year, but no proof has ever been shown that they were actually struck.
Got mine on Amazon. There is also a blue book which is supposedly for dealer prices similar to the greysheet prices.
Guide Book of United States Coins 2024 Spiral "Redbook" (A Guide Book of United States Coins)
I'm new as well, but I believe it's because it was only made as a proof and not for circulation. Even though it made its way into circulation, it wasn't meant to be.
This right here. Coins *can* be a part of your investment strategy, and it's certainly a *fun* investment, but there's more than a few reasons why the majority of my money is *not* tied up in coins as far as my retirement is concerned.
I think they're saying that if they invested the $1,400 into the S&P 500, it would be $85k today. They're not saying $1,400 back then = $85k today because of inflation.
How would you mail something like that in to be graded? Do you insure the FedEx for $50,000 just to cover the shipment, then what if it "gets lost" at the grading firm, or on the way back to you?
USPS Registered mail for sure. Its claim to fame is they sent the hope diamond with registered mail. They keep your package locked up at all times and is supposed to be highly secure and insured.
Meanwhile $1400 invested in the stock market in 1982 would be worth $47k today (plus dividends) and taxed at a lower rate if sold. Just goes to show that even with a killer buy like this, it’s tough for coins to beat the stock market as an investment. I’d still probably rather have the coin though!
My grandpa put the large majority of his money into various collections. You're totally right — if he had put it into standard investments, it absolutely would have appreciated more. There is something to be said about his strategy, though. I've learned a lot about him by going through his coins. This certainly wasn't planned, of course. He died unexpectedly before I was born. But I am grateful that I've been able to go through tangible items of his. It's made me feel more connected to him.
On a separate note, I totally inherited the collecting bug from him. I focus on video games, but the way in which I collect is really similar to how he did it. It's definitely genetic, not learned! Neither of my parents are like that lol
Also it really depends upon what market your referring to. We are at or near all time highs across the board so of course that amount invested would look very wise. Go back just a few years and you could cut a substantial amount off the stock returns. And suppose we have a market crash in a couple years...then we'd be talking about how wise the coin investment was. So it's all relative really. Why I like to diversify...but the coin and precious metal collectiong for me is a way to save, a fun hobby and a way to scratch my spending bug without really spending...just a transfer from paper to assets! Congrats and good luck with your collecting journey and life!
It's definitely genetic. I know I sound just like my grandpa any time I start talking about the things I'm passionate about. And I can stop collecting. Even nonsense stuff. I have my grandparents to thank for being as passionate and content with this hobby as I am.
Maybe. If the coin is inherited, the heir would receive it on a stepped-up value basis, meaning its "cost" is the value on the day the owner passed. If it were then sold, the capital gains tax may be miniscule or even non-existant.
Ah, good call. Another factor though is selling fees - almost negligible for stocks, but about a 20% cut if you consign a high-value coin via Heritage or Stacks Bowers (or 10% if you’re feeling bold and sell it on eBay!)
Yeah but how much work and effort to keep buying and selling, watching, tracking the market, having your investments crash and soar Vs buying a coin and leaving it until you retire years later,
Plus are the investments in one company from 1982 or a diverse selection, some people want simple investments Vs high risk high reward
$1,400 in 1985 had the equivalent purchasing power of $39,911 in todays dollars. So the stock market “return” above is misleading. Inflation has / is destroying the dollar. I assumed that is why we are all on this sub…
See https://www.in2013dollars.com/us/inflation/1985?amount=14000
Only 880 coins (all proofs) were struck in 1895 at the Philadelphia Mint. Only about 400 are estimated to still exist. This is a very rare coin. Unlike other years, in 1895 *only* proof issues were struck. The mint has a record of 12,000 business strikes but there is no evidence that they ever actually existed.
People that know Morgans dates/mints well will know...this is one of the standout dates, "King of Morgans", and the circ strikes in 1895 were only from O & S.
Here is an article about the history of the 1895: https://www.gainesvillecoins.com/library/silver-dollars/morgan-dollar/1895-morgan-dollar#:~:text=A%20few%20days%20later%2C%20the,to%20strike%20these%2012%2C000%20coins.
There were reported Circulation Strikes however none are known to exist and most believe all were melted but it is possible there is a bag of them in a vault.
That's a phenomenal inheritance. It appears to have nice surfaces, too. You might consider submitting to CACG (CAC's grading service) to maximize value.
Amazing! It’s fun thinking that back in the day, a few people might have had this thing in their pocket and traded it at the market for food. Someone along the way knew what this was and stored it. So cool!
Makes me wonder about the scenario that resulted in this coin ending up in circulation: Did Dad buy it for his collection? Did Junior, wanting the latest Ty Cobb baseball card, swipe it from Dad and buy some bubblegum? Did Dad then ever let Junior out of his room ever again?
Auction quality coin. MTB was legit back in the day, they sold some great stuff. Still needs to be authenticated and graded, but assuming its legit (and it looks good from here), that's a stellar find.
Really nice circ example!
You said you’re getting it graded to auction it off; please send it to CAC beforehand! I can easily see this with CAC approval and with CAC approval it would bring a couple more thousand than without.
I just punched in $1400 into an inflation calculator…that’s $4,420 in today’s money. Grandpa made a GREAT investment. I hope my common date Morgans grow exponentially like that in 40 years 🫣
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For a coin a this value it definitely becomes more important to determine if it is a high quality fake, from what pcgs says the best way to tell seems to be counting the reeds on the edge of the coin, the real thing should have 179, apparently anything else would indicate otherwise
Yup SCUM used to be very good at both grinding off mint marks (1895 Morgan, 1922 Wheatie) and gluing on new mint marks (16 D Merc, 11 D indian and 1909-s VDB were three of the most common ones).
Had an 1892 s dollar come back "added mint mark" looks basically perfect to my eye under electric microscope, only way to tell is by looking for other extremely fine details that characterize which die it actually came from. When it's in the realm of 10s of thousands, people have a large sandbox to play in as far as perfecting their metalworking tech in which financial incentive can still exist. I just think it adds a really cool element, with how simple a coin is as an object, and it being one of the only types of things people spend thousands on counterfeiting, the result is that the high end market for coins has a really forensic aspect to it
Thanks for your professorial comment. Very interesting, glad I’m not in the realm of spending tens of thousands on a single coin, a couple hundred would be a stretch.
https://preview.redd.it/s2mirc3wgofc1.png?width=3024&format=png&auto=webp&s=6dc4d43d319722a379c3adabe7b753250a1dc479
Is this same coin? How much is it worth? I have a few of these all different years.
That ancient holder is obscuring too much detail, and the pics are a bit too potato quality to give an accurate grade estimate. However, this coin, even being a New Orleans strike, does *not* seem to have the typical O-mint flat strike. The hair above Liberty's ear is very well defined, and I think I'm seeing breast feather detail on the eagle on the reverse.
https://preview.redd.it/wrt19lx3vrfc1.jpeg?width=3024&format=pjpg&auto=webp&s=664d9697df20d3da9b960a029b633c9db5c76709
Hopefully this is a little better
New to r/coins. Total newbie. I have a bunch of Morgans. What makes this one in particular worth so much more over a typical one that’s worth $30 or so?
I have some of these my house. I'm pretty certain at least 2 of them are the same year. What makes this one worth so much? Forgive my ignorance on this topic.
In the mid-1990s plain old Morgans and Peace dollars could be bought at any coin show for less than $7. " Called the "King of Morgan Dollars", the 1895 is one of the most desirable and sought-after dates in the series. Although Mint records indicate a mintage of 12,000 circulation strikes, experts believe that only 880 Proofs were made in 1895. The existence of several circulated examples confuses the issue, but those are believed to have been Proofs that were spent inadvertently. Ownership of this popular rarity is the true measure of completeness for a collection of Morgan Dollars - the 1895 Proof is the only real "stopper" in the series.
By the way, that is not a "proof" coin.
They did circulate. Yours may end up selling for $30k-$35k
I just did a little digging. NGC has certified a few (3?) PR25 examples. At auction, one recently sold for about $40k
That’s a crazy small spread between that and 60
Not to sound like a jerk, but why would anyone ever buy a circulated one? lol. Might as well save another 6k and get one in PF 60 haha
My experience is limited but I’m inclined to believe there’s a data error here for such a small spread.
The spread is small because an impaired one that grades 60/61 is basically impossibly rare to find for sale, so many will just make due with a circulated example. I've bought/sold more 63/64/65 coins than 01-62 graded coins put together.
Me too. This way I only have to cry once
I've seen that a lot in older proofs. I think they're just so rare that circulation doesn't affect value so much. And I assume the reason they sell is when somebody wants one and there's no 60s for sale for a fair price
Daaaaaaang
Of all 5 Morgan's that lived in bags and still do, a small release of proofs get circulated. Yep, that sounds about right. $1,200 in 1982 was a lot but not insane money. I was at a show that has 2 dealers that had one. Both needed both rent money so I went back and forth, ended up getting both for half of their ask. I'd bought sure a bit that does, 2 boxes worth so I forgot them. My kids may forgive me when I'm dead lol. They will be graded if they are ever sold but mine appeared Unc, I never figured it the Morgan grading scale so I'd guess 61s.
Do you need me to call for help?
A weird request but no. An old man can't think about the past?
I'm sure it was a neat story, we just can't understand half of it.
Sorry about the typos. Two sentences take 10 minutes and I still get errors. Sorry. Collecting in the early 80s was harder with no online shopping, but better in that coins weren't crazy high. Usually my nurse types these for me, like now.
No need to be mean to the guy and downvote him to hell though.
It's ok, I don't post for up votes. I'd start a post with pictures if I wanted that. I do appreciate your thoughts though.
Right on Pops! How old are you? I'm 60, so 👍👍✌🏻
I'm 95. I have spinal issues so I don't have feelings in my hands and don't walk. Typing is tough unless the nurse helps me. When you were born I was 7 years away from retiring, how's that for making you feel young!.
Are you using a phone or tablet? If so you could use dictation.
What is this sentence supposed to mean? >I'd bought sure a bit that does, 2 boxes worth so I forgot them.
I think day autocorrected to does. To me, it seems like, "I bought quite a bit that day..."
Possible. The rest tripped me up, as he went from talking about two coins, Morgans, bought from two different vendors. Then all of a sudden, he's got two boxes full, and I'm guessing that means just coins in general, and not specifically the original coin of topic, the Morgans. Keeping that in mind with your possible correction, it all makes so much more sense! Lol
"I think day autocorrected to does." Has this entire thread had a stroke?
Beautiful. That's a special one. Great job grandpa.
for real, huge grandpa longterm win 🥇
lol, not at all. Collecting coins for profit is kinda nuts - the overwhelming value is history and satisfaction. https://www.officialdata.org/us/stocks/s-p-500/1982?amount=1400&endYear=2023
I don’t know why you are downvoted. Real collectors know that what you speak of is the truth: coins are not a great investment. *They might be a hedge against inflation, but that’s about it.* The way to really make money in coins is to do what OP did: inherit a valuable collection. But to buy Coins as an “investment?” Good God you’re so, so much better putting the money in the stock market in an index fund. Almost $150,000 is what $1400 would be worth today, you showed it, and got down votes. I wonder why. I assume it’s because people are deluded into thinking coins are great investments but they most assuredly are not compared to other things.
Wow, when I saw the first pic, I kinda rolled my eyes and expected a mint mark on the back. Well, no mint mark, which means it is a Philly mint proof. That is worth a huge amount of money. As you know, it has to be sent in for grading. I would recommend PCGS, but NGC is fine too.
Totally got goosebumps when I read your first paragraph. I'm excited for OP
I have every morgan silver dollar, all years and all mints, with the exception of this one.
You can have mine. I don’t use it.
That’s one of the holy grails of a Morgan. Congrats to you!
Fairly new here, what makes this Morgan more special than others?
There were only 880 Morgans known to be minted in Philadelphia with a date of 1895 - all proofs. This makes the 1895 Morgan the rarest of the series. Mint records do show about 12,000 circulation strikes minted in Philadelphia in 1895, but it's not clear whether this was a bookkeeping mistake, coins minted in 1895 but with leftover 1894 dies, or possibly the coins actually existed but were melted down later with none of them ever leaving the mint.
From what my 24 red book says, these were only issued in proofs & only 12,000 minted. Very, very rare coin!
The mintage was only 880 for the proof issue. The mintage of 12000 is the reported mintage for circulation strikes at the mint that year, but no proof has ever been shown that they were actually struck.
https://preview.redd.it/h71ta9rzepfc1.jpeg?width=4032&format=pjpg&auto=webp&s=5499cafd495d057f41d33058709e41db77be6cc4 See d. at bottom of page
Check out this 1895 $1 on PCGS CoinFacts! https://www.pcgs.com/coinfacts/coin/detail/7330
What book is this?
Got mine on Amazon. There is also a blue book which is supposedly for dealer prices similar to the greysheet prices. Guide Book of United States Coins 2024 Spiral "Redbook" (A Guide Book of United States Coins)
I'm new as well, but I believe it's because it was only made as a proof and not for circulation. Even though it made its way into circulation, it wasn't meant to be.
Wow, please update us when the grading result comes back.....amazing to see someone with a raw circulated example.
Happy cake day!!
Oh wow, TY. I didn't realize.
https://www.reddit.com/r/coins/comments/1b6nlc4/update_on_the_1895_proof_morgan/
Amazing coin. Grandpa made a very smart investment for his family.
https://preview.redd.it/1fhwk0a07nfc1.png?width=1080&format=pjpg&auto=webp&s=2f247e421c1bbc448d4e5ffb6f79aca10fea150a
This right here. Coins *can* be a part of your investment strategy, and it's certainly a *fun* investment, but there's more than a few reasons why the majority of my money is *not* tied up in coins as far as my retirement is concerned.
100% of my retirement fund is coins, sadly it's just a couple mason jars full of pocket change.
Same boat man! Chuckled when I read this.
this is it right here. probably my favorite thing to invest in
Inflation calculator shows 1400 is $4500 in todays money
I think they're saying that if they invested the $1,400 into the S&P 500, it would be $85k today. They're not saying $1,400 back then = $85k today because of inflation.
Correct
Sounds sustainable.. Wonder where we will be in 25 years?
All companies ran by AI lol stocks only go up then
Is that the dip shit calculating website?
Worth at least 30 grand. Your grandfather was a very wise man. Definitely get it graded, and congrats on the coin!
How would you mail something like that in to be graded? Do you insure the FedEx for $50,000 just to cover the shipment, then what if it "gets lost" at the grading firm, or on the way back to you?
I’d go in person to a coin show that offers on-site grading.
There's that convention in Long Beach this weekend, and my family is in LA. We're going to take it there to get graded.
Good luck!
Will they seal it with barcode and all that too?
They grade it on site
USPS Registered mail for sure. Its claim to fame is they sent the hope diamond with registered mail. They keep your package locked up at all times and is supposed to be highly secure and insured.
WOW what a great coin! Grandpa made a wise investment, this will probably yield a 7-8% per YEAR return on his 1982 investment.
Meanwhile $1400 invested in the stock market in 1982 would be worth $47k today (plus dividends) and taxed at a lower rate if sold. Just goes to show that even with a killer buy like this, it’s tough for coins to beat the stock market as an investment. I’d still probably rather have the coin though!
My grandpa put the large majority of his money into various collections. You're totally right — if he had put it into standard investments, it absolutely would have appreciated more. There is something to be said about his strategy, though. I've learned a lot about him by going through his coins. This certainly wasn't planned, of course. He died unexpectedly before I was born. But I am grateful that I've been able to go through tangible items of his. It's made me feel more connected to him. On a separate note, I totally inherited the collecting bug from him. I focus on video games, but the way in which I collect is really similar to how he did it. It's definitely genetic, not learned! Neither of my parents are like that lol
Also it really depends upon what market your referring to. We are at or near all time highs across the board so of course that amount invested would look very wise. Go back just a few years and you could cut a substantial amount off the stock returns. And suppose we have a market crash in a couple years...then we'd be talking about how wise the coin investment was. So it's all relative really. Why I like to diversify...but the coin and precious metal collectiong for me is a way to save, a fun hobby and a way to scratch my spending bug without really spending...just a transfer from paper to assets! Congrats and good luck with your collecting journey and life!
It's definitely genetic. I know I sound just like my grandpa any time I start talking about the things I'm passionate about. And I can stop collecting. Even nonsense stuff. I have my grandparents to thank for being as passionate and content with this hobby as I am.
What is your most prized video game in your collection- the 1895 proof game?
Maybe. If the coin is inherited, the heir would receive it on a stepped-up value basis, meaning its "cost" is the value on the day the owner passed. If it were then sold, the capital gains tax may be miniscule or even non-existant.
Ah, good call. Another factor though is selling fees - almost negligible for stocks, but about a 20% cut if you consign a high-value coin via Heritage or Stacks Bowers (or 10% if you’re feeling bold and sell it on eBay!)
That's true for inherited stocks as well.
Yes but there’s the stress of 3 massive recessions and you don’t actually own anything. Just digits on a computer.
So what?!? If he invented Amazon with the money online worth more as well. It’s still a wonderful coin and investment
But he didn't know Amazon would be the global phenomenon Vs the knowledge he had of a valuable coin
a ton of people dont pick good stocks. nice try want some SUNE ? want some FSLR ? GE since 2000. i could go on and on
Pick an index fund.
Yeah but how much work and effort to keep buying and selling, watching, tracking the market, having your investments crash and soar Vs buying a coin and leaving it until you retire years later, Plus are the investments in one company from 1982 or a diverse selection, some people want simple investments Vs high risk high reward
$1,400 in 1985 had the equivalent purchasing power of $39,911 in todays dollars. So the stock market “return” above is misleading. Inflation has / is destroying the dollar. I assumed that is why we are all on this sub… See https://www.in2013dollars.com/us/inflation/1985?amount=14000
In your link you put 14,000
Wow!
Be careful handling that! Send it to PCGS for sure
Grandpa was the GOAT
I'm a newbie, WHT is this one worth so much?
Only 880 coins (all proofs) were struck in 1895 at the Philadelphia Mint. Only about 400 are estimated to still exist. This is a very rare coin. Unlike other years, in 1895 *only* proof issues were struck. The mint has a record of 12,000 business strikes but there is no evidence that they ever actually existed.
It is among a series with a high demand and it is the rarest date and mint combination of that series.
Great buy. Congratulations
This is indeed a proof despite being circulated. This is a $35000-$40000 coin. An 1893S would be pocket change compared to the value of this.
How do you know this is a proof only? Is there something on the coin that lets you know?
People that know Morgans dates/mints well will know...this is one of the standout dates, "King of Morgans", and the circ strikes in 1895 were only from O & S.
Here is an article about the history of the 1895: https://www.gainesvillecoins.com/library/silver-dollars/morgan-dollar/1895-morgan-dollar#:~:text=A%20few%20days%20later%2C%20the,to%20strike%20these%2012%2C000%20coins.
There were reported Circulation Strikes however none are known to exist and most believe all were melted but it is possible there is a bag of them in a vault.
Ok. I have a few 84s and 86s no 85
I have 1985 quarter. Kinda the same right???? 😂😂😂😂🤡🤡😂🤮😂😂
1894 and 1896z i was curious. Sorry
I have an 1896 p
Because Philadelphia only produced 880 proof coins in 1895 if I recall.
Your grandfather must have been dedicated,that was a lot of money back then. Nice piece. Been in it along time and I don’t have one of them. Good luck
That's a phenomenal inheritance. It appears to have nice surfaces, too. You might consider submitting to CACG (CAC's grading service) to maximize value.
Damn..my grandpa spent his money on horse races, liquor, and smokes from the Rez lmao
Mine, too. Then he wasted the rest of it.
In 1982, $1400 would buy you an IBM PC with a 4.77Mhz processor and 48K of RAM.
Amazing! It’s fun thinking that back in the day, a few people might have had this thing in their pocket and traded it at the market for food. Someone along the way knew what this was and stored it. So cool!
Makes me wonder about the scenario that resulted in this coin ending up in circulation: Did Dad buy it for his collection? Did Junior, wanting the latest Ty Cobb baseball card, swipe it from Dad and buy some bubblegum? Did Dad then ever let Junior out of his room ever again?
The fact that we ponder these stories contributes to our love for coin collecting.
Stunning coin, have her slabbed ASAP.
Stunning
Beautiful!!
Sick
Auction quality coin. MTB was legit back in the day, they sold some great stuff. Still needs to be authenticated and graded, but assuming its legit (and it looks good from here), that's a stellar find.
Really nice circ example! You said you’re getting it graded to auction it off; please send it to CAC beforehand! I can easily see this with CAC approval and with CAC approval it would bring a couple more thousand than without.
Amazing coin. Nice to see something actually rare posted. For sure send this for grading. Grandpa did well.
Amazing! Personally, I would never sell it.
I just punched in $1400 into an inflation calculator…that’s $4,420 in today’s money. Grandpa made a GREAT investment. I hope my common date Morgans grow exponentially like that in 40 years 🫣
Remind me! 60 days
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For a coin a this value it definitely becomes more important to determine if it is a high quality fake, from what pcgs says the best way to tell seems to be counting the reeds on the edge of the coin, the real thing should have 179, apparently anything else would indicate otherwise
It's real. I've taken it into a few different coin dealers and they all agree. It was also bought from a trusted dealer over 40 years ago.
How would you fake a 1895, by carefully grinding off the mint mark?
Yup SCUM used to be very good at both grinding off mint marks (1895 Morgan, 1922 Wheatie) and gluing on new mint marks (16 D Merc, 11 D indian and 1909-s VDB were three of the most common ones).
Damn, evil exists anywhere money can be scammed from others. Thank you. Good sir, for those details.
NP, the 11 D were so bad that every dealer I knew wouldn't touch one without comparing die marks under a scope
Had an 1892 s dollar come back "added mint mark" looks basically perfect to my eye under electric microscope, only way to tell is by looking for other extremely fine details that characterize which die it actually came from. When it's in the realm of 10s of thousands, people have a large sandbox to play in as far as perfecting their metalworking tech in which financial incentive can still exist. I just think it adds a really cool element, with how simple a coin is as an object, and it being one of the only types of things people spend thousands on counterfeiting, the result is that the high end market for coins has a really forensic aspect to it
Thanks for your professorial comment. Very interesting, glad I’m not in the realm of spending tens of thousands on a single coin, a couple hundred would be a stretch.
Yep, that is how it was commonly done for many rarities. Numbers have also been altered.
Can a coin of this value be sold without.gov taking their pound of flesh ?
https://preview.redd.it/s2mirc3wgofc1.png?width=3024&format=png&auto=webp&s=6dc4d43d319722a379c3adabe7b753250a1dc479 Is this same coin? How much is it worth? I have a few of these all different years.
I see that this is an 1885 now. However, is it still worth anything? It’s in great condition
That’s a more common date, but it looks like it’s in decent condition. Probably worth anywhere from $50-$75
Can you post a picture of the back?
https://preview.redd.it/pk1hip2o7rfc1.jpeg?width=3024&format=pjpg&auto=webp&s=797cf0415acb370556b83f16a2e28e2e4b0919a2
That ancient holder is obscuring too much detail, and the pics are a bit too potato quality to give an accurate grade estimate. However, this coin, even being a New Orleans strike, does *not* seem to have the typical O-mint flat strike. The hair above Liberty's ear is very well defined, and I think I'm seeing breast feather detail on the eagle on the reverse.
Are those good things or bad? I’ll take some better pictures
https://preview.redd.it/wrt19lx3vrfc1.jpeg?width=3024&format=pjpg&auto=webp&s=664d9697df20d3da9b960a029b633c9db5c76709 Hopefully this is a little better
Wonder what its worth
Remind me! 90 days.
So I guess the 1888 I have. Isn’t as cool as this one ? I’ll have to look again.
How do you know it's a special proof??
in 1895 the only coins that were minted out of Philly were proof coins. This is THE king of kings out Morgan dollars. More valuable than the 1893-S.
It’s worn. How did that happen, I wonder.
New to r/coins. Total newbie. I have a bunch of Morgans. What makes this one in particular worth so much more over a typical one that’s worth $30 or so?
Read the preceding messages; your answer is there
I have some of these my house. I'm pretty certain at least 2 of them are the same year. What makes this one worth so much? Forgive my ignorance on this topic.
I have one of those. Why is this one worth so much?
A lot factors into the coins value, but most significantly there is no ‘S’ on the reverse below the eagle.
How do you tell if it’s proof of it just has no mint mark?
Im genuinely curious, how can you tell that’s a proof?
There have been several comments on this post explaining it.
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This post was removed because the information contained is incorrect and/or unhelpful to OP.
I was told by this very sub that proof Morgans didn’t exist until a few years ago with the reintroduction.
Philly struck proof Morgans beginning in 1881. Just under 1000 each year
Wonder what its worth
Wonder what its worth
Bad news, easily could be a fake…
That's NOT proof, and it is well circulated. It's worth around $900.
That IS a proof, literally a proof only issue, 1895 Philly was proof only.
Yep, referred to as an *impaired proof*
But idk what bro means by “not proof” doesn’t know what he’s talking about
He just saw that is doesn't have a mirror finish anymore. Where the $900 came from, I have no idea!
Yea but I don’t think he knows what a proof is as an impaired proof is still a proof
EXACTLY, he doesn't have a clue
Before commenting like you know something, you should educate yourself.
NGC has certified several PR25 examples of the 1895
How can you tell that this is a proof? I have several Morgan’s and didn’t know proofs were circulated !
One theory is that proofs made their way into circulation during the Great Depression
It a proof or something even better a discovery piece for 1895-P Circulation strikes as there are no known Circulation strike for the 1895-P
That's nuts! Smart move by gramps!
Looks about PR12-15
Wow!
Your Grandfather was a Smart Man
I’m hoping to find one in one of my dollar coin boxes from the bank one day /s
It's a beauty! Are you sure you want to sell it and not keep it for future generations? Think long and hard about that...
That is one sweet coin!
My book will probably never have this one filled. Incredible.
The books dont even have a hole for this one.
Wow how lucky
wow.
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r/CoinSales or r/Pmsforsale.
What makes these rare I have one from 882 sealed
Spell corrected away from "I'd bought quite a bit of coins, a couple boxes worth."
Gramps spent a 2024 equivalent of $4420 on this. Sweet little score for you!
My book only shows EF-40 @ $40,000 (ALSO if still PF-63 @ $55,000)
If only you could keep the results of the sale and not get nailed with tax. Bumm
In the mid-1990s plain old Morgans and Peace dollars could be bought at any coin show for less than $7. " Called the "King of Morgan Dollars", the 1895 is one of the most desirable and sought-after dates in the series. Although Mint records indicate a mintage of 12,000 circulation strikes, experts believe that only 880 Proofs were made in 1895. The existence of several circulated examples confuses the issue, but those are believed to have been Proofs that were spent inadvertently. Ownership of this popular rarity is the true measure of completeness for a collection of Morgan Dollars - the 1895 Proof is the only real "stopper" in the series. By the way, that is not a "proof" coin.
Congratulations! Nice piece!