Morgan Dollar PCI and Photo Grading

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keithk
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Morgan Dollar PCI and Photo Grading

#1 Unread post by keithk »

Hello Coin Help Community,

I am a new member here from Winter Park, FL. I have been coin collecting on and off for over 35 years, and have recently introduced my son to it as well. We have been recently investing in Morgans and have come across a bit of an issue that we are not sure how to approach. Earlier this year, we bought several MS grade Morgans from a reputable local dealer. Most were NGC graded. But one (see pictures) was graded using PCI photo grading. I have been trying to resell the coin but have difficulty because it seems such grading isn't well-trusted at the very least. I get that. But recently, when I went to sell the coin on Ebay, it was taken down and Ebay said it violated their policy as it was a "replica" coin. Their rep even went so far as to tell me that I could "never sell that coin on their site." And I've bought and sold things on ebay since 2001. I was told by the original coin shop that sold it to us that it has a faint "Alligator Eye". This was even confirmed by two independent dealers at the recent Florida United Numismatists show here in Orlando. But no-one wanted to give us anything close to what we paid for it. So what should I do? My initial thought was to send it to NGC or PCGs for grading and hope for the best. But I'm not a member of either, and I worry that I am throwing more money at a coin that I will not even break-even on. But I just bristle at some random person at Ebay saying I'm dealing in replica currency when I feel certain I'm not. Advice needed please. Thank you.
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Re: Morgan Dollar PCI and Photo Grading

#2 Unread post by SensibleSal66 »

Hello and Welcome ! It seems your in a bit of a dilemma and I hope someone here can help you as it's totally up to you to decide what to do . Sorry .
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Re: Morgan Dollar PCI and Photo Grading

#3 Unread post by Daniel »

How much are you asking? If dealers at the big coin shows can't tell you what to do then no one else can, faint "alligator eyes" don't help anything and if the dealers thought it had a chance at MS65 then they would have offered something. So it's more than likely a MS64 in appearance. Less experienced people and blurry images are not going to get you much of an answer.

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Re: Morgan Dollar PCI and Photo Grading

#4 Unread post by monsterbug1 »

I think ebay complained to such an extent because they only approve of the 4 main grading companies(PCGS, NGC, ANACS, and IGC). As far as they are concerned, coins "graded" by alternative grading companies are not graded at all, and are just slabbed

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Re: Morgan Dollar PCI and Photo Grading

#5 Unread post by Paul »

Do you have a "VAM" for this coin?
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Re: Morgan Dollar PCI and Photo Grading

#6 Unread post by keithk »

We originally paid $140 for it. At the coin show, the most we were offered was $100 and a dealer suggested that it appeared to be more of an MS 64. Right now, I am leaning towards sending it off to be regraded. But Ebay's reaction just perplexes me. They have thousands of uncertified coins every day. But for some reason, mine violates their policy. It therefore has to be the grading service. They sure seem to have an issue with it. Any ideas?

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Re: Morgan Dollar PCI and Photo Grading

#7 Unread post by keithk »

Paul wrote: Thu Jul 15, 2021 10:21 am Do you have a "VAM" for this coin?
VAM 12 I think

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Re: Morgan Dollar PCI and Photo Grading

#8 Unread post by keithk »

Daniel wrote: Wed Jul 14, 2021 10:40 pm How much are you asking? If dealers at the big coin shows can't tell you what to do then no one else can, faint "alligator eyes" don't help anything and if the dealers thought it had a chance at MS65 then they would have offered something. So it's more than likely a MS64 in appearance. Less experienced people and blurry images are not going to get you much of an answer.
Then what do you think my next step should be? Take it out of the slab and sell it as ungraded? Send it to a grading service?

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Re: Morgan Dollar PCI and Photo Grading

#9 Unread post by Paul »

Thank You,

Here's what I found at Vamworld:
"It is also one of the most available Top 100 coins and is considered a
"gateway coin" luring collectors into the VAM specialty because of its name, availability and popularity. If you purchase one (as opposed to cherrypick), make sure you buy a nice high grade example and keep the premium paid to a minimum."
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Re: Morgan Dollar PCI and Photo Grading

#10 Unread post by keithk »

Paul wrote: Thu Jul 15, 2021 11:47 am Thank You,

Here's what I found at Vamworld:
"It is also one of the most available Top 100 coins and is considered a
"gateway coin" luring collectors into the VAM specialty because of its name, availability and popularity. If you purchase one (as opposed to cherrypick), make sure you buy a nice high grade example and keep the premium paid to a minimum."
Thank you for looking that up. From what I can gather so far, the 'alligator eye" thing brings little if any added desirability to this coin.

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Re: Morgan Dollar PCI and Photo Grading

#11 Unread post by Funky Strike »

You CAN list the coin on eBay in an old holder that eBay does not "recognize" - but you basically have to block out all the information on the holder. The problem with that is that you cannot mention the grade either - even in the description. So you can't say that PCI graded it and MS65 - eBay will flag that too. That would mean that the coin has to sell based on the pictures alone and that's tough for a high grade coin on eBay (don't ask me how I know that...) :-(

Hope this helps

Michael - The Funkmeister!
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Re: Morgan Dollar PCI and Photo Grading

#12 Unread post by keithk »

Ideally, I'd like to get something close to $140.

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Re: Morgan Dollar PCI and Photo Grading

#13 Unread post by keithk »

Thank you Michael for the reply. That's awesome info.

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