Doogy Posted April 29, 2006 Report Share Posted April 29, 2006 I'm looking at getting a slabbed PCGS or NGC Morgan MS66. Do these higher grades (66 and 67) tend to hold their value better than the lower graded ones? Just curious if its worth the extra $$$? thanks much! Doug Link to comment Share on other sites More sharing options...
jtryka Posted April 30, 2006 Report Share Posted April 30, 2006 Personally I get nervous around high grade morgans given what happened after the market collapsed in the late 1980s. To me, a nice MS-65 is just fine for the money, as I don't buy into the grade rarity game. I'd rather buy a key date or a CC coin in a lower grade since I know they will always be scarce regardless of what happens to NGC or PCGS populations. Link to comment Share on other sites More sharing options...
jlueke Posted April 30, 2006 Report Share Posted April 30, 2006 I'm looking at getting a slabbed PCGS or NGC Morgan MS66. Do these higher grades (66 and 67) tend to hold their value better than the lower graded ones? Just curious if its worth the extra $$$? thanks much! Doug Grading is subjective and changes over time. Collectors like Pittman obtained choice examples of Uncirculated coins that later made a ton of money. As jtryka pointed out common coins can easily lose a lot of value when the demand vanishes. If I was going to make a generalization I'd go with the key dates are better as well. If you are looking for a typeset coin, then I'd recommend something in PL or DMPL. Link to comment Share on other sites More sharing options...
regandon Posted April 30, 2006 Report Share Posted April 30, 2006 Personally I get nervous around high grade morgans given what happened after the market collapsed in the late 1980s. . There are more collectors now than back in the days of the Hunt brothers. I do not think there will be much of a down slide this time around. Thanks to there being more collectors and investers in this bull market, I think MS66 Morgans are going to keep on the high side of the value. You might see the MS60 to MS64 Morgans slide down in price, but the demand for high grades is strong. regandon Link to comment Share on other sites More sharing options...
Dan769 Posted April 30, 2006 Report Share Posted April 30, 2006 To me, a nice MS-65 is just fine for the money, as I don't buy into the grade rarity game. I'd rather buy a key date or a CC coin in a lower grade since I know they will always be scarce regardless of what happens to NGC or PCGS populations. What he said Link to comment Share on other sites More sharing options...
izzy452 Posted April 30, 2006 Report Share Posted April 30, 2006 Get a key date in the grade you can afford. Link to comment Share on other sites More sharing options...
bill Posted April 30, 2006 Report Share Posted April 30, 2006 I knew you couldn't stop with just one! Link to comment Share on other sites More sharing options...
jtryka Posted April 30, 2006 Report Share Posted April 30, 2006 There are more collectors now than back in the days of the Hunt brothers. I do not think there will be much of a down slide this time around. Thanks to there being more collectors and investers in this bull market, I think MS66 Morgans are going to keep on the high side of the value. You might see the MS60 to MS64 Morgans slide down in price, but the demand for high grades is strong. regandon The hunt brothers were long gone by 89, and so are the prices of MS-65 Morgans that were realized back then. Link to comment Share on other sites More sharing options...
SMS Posted April 30, 2006 Report Share Posted April 30, 2006 <snip> I think MS66 Morgans are going to keep on the high side of the value. You might see the MS60 to MS64 Morgans slide down in price, but the demand for high grades is strong. You should notice that the biggest problem with "professional" coin graders is that their grading "standards" have a habit of "changing." Now, you could attribute this to the fact that new graders are sometimes hired (or change companies), or that upper management has become lax (or become more agressive), or any other number of reasons. But, you have to keep something in mind here. Like the over-the-counter (OTC) stock exchanges, the coin "market" is not governed by regulations that puts restraints on the "quality" of the exchange. In this sense, there is no true "standard" of grading by which a company MUST abide by. And realistically, in the numismatic market, there shouldn't be. The numismatic market was never really meant to be an investment trading market, though this trend had grown quite rapidly since the "professional" grading companies. On the OTC stock exchanges, you trade stocks, not through the governed exchange itself, but through "market makers" that personally buy and sell the stocks. So, if you have 1 million shares in company A, and the bid/ask is $.0005/$.0007, and you put a sell order in for $.0006, chances are you are not necessarily going to sell. The reason for this is that the stock you are selling must be bought by the "market maker", not an actual trader. So, if the market makers are not happy with your sell bid, then they won't buy. In fact, they have no legal obligation to buy even if you bid to sell at 1/3 the ask price! It is COMPLETELY up to the market maker. The similarity in this with the "professional" grading companies, is that, they have a tendency to be able to manipulate the market, just as the market maker does. How do they do this? First of all, companies like PCGS offer their own (EXTREMELY inflated) price guides. And if you rely on more independent publications such as the CDN, you are veering off the retail market and into the wholesale market which is completely different (and collectors should really understand this and stop trying to demand the dealer wholesale bid/ask spreads). Secondly, the companies have the power to manipulate the market by "creating stock" that does not really exist (the market makers also do this, but it is very detailed and not suited for this thread or forum). They "create" this "stock" by making changes to the way they grade! They manipulate the market in this way by either becoming more lax in their grading, thus creating more higher graded coins in certain series, thus keeping the prices on high demand coins at a low (VERY bad for investors!). And they can also become more conservative in their grading, thus strangling the market of higher graded coins, thus raising the prices of high demand coins (VERY good for investors!). So, you want to buy when the market pricing is low, and sell when high (obviously) Another way for an investor to use this information would be to buy newly slabbed/graded coins from a company when they are said to be conservative in their grading. Hold the coin until they start to become lax in their grading standards. Then, resubmit the coin to the grader for an upgrade consideration. This could potentially turn an MS66 into an MS67, and then you will realized a return on your investment This takes alot of researching, watching, and waiting, but if done right, you can come out on top! Lastly, you would want to consider also, the inflation of prices due to silver, with regards to Morgans. In higher grades, you would think that it wouldn't make a difference, but, just like in stocks, there are those that panic when other influential prices drop. If you wait out the few months for silver to peak at over $25, then wait for the fall, you might be able to pick up some gems as people begin to scatter in fear. If you really do want to invest in Morgans, and you want to do it right now, like others have already suggested, I would go for the keys and semi-keys and hold them for about 18 months and see where they've taken you to. Carson City coins especially. Investment in coins takes quite some time to make a proper return (for most people), so you need to have alot of patience. Good luck! Link to comment Share on other sites More sharing options...
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