Expert: PAPAJACK - 3/1/2008

Question
Hi
The grading company is NGC.
Thank You Janet

Answer
Hello again Janet,                                             

Are these dollars marked 1904-O, this is the lowest in value due to the large supply available in Mint State Grades. This coins market goes in cycles of what is hot at the time. You will just have to hold on to the coins likely for five years to make up what you paid for them. If they are 1904 with no mint mark or have an S mint mark they are selling higher than this and you were miss-quoted a price.

NGC is an outstanding company and their grading is trusted in the coin market place. It will be easy to sell the coins graded by this company when the time comes. Coins are graded on a scale from 1 to 70; a grade of 65 on a Morgan Dollar is a great for the issue.  And NGC does guarantee the grade and authenticity of the coins they grade.

I always tell people to beware of using coins as an investment tool. It does work but you cannot use a hobby type enterprise as a guarantee of return. These coins ore only valuable if there are buyers (hobbyists - collectors) who want them when you want to sell them.


Question “I know silver has gone way up since June of 06 and wanted to know how this could be? “ How can this be when silver is way up?

Although Silver is more than doubled n the past two years it would not affect the value of a high grade coin.  This rise in silver would only affect coins that are sold as bullion for the silver content or low grade specimens.  For an example a 1963 dime in low grade would no t sell for less than $1.10.


Question “Do you know what the price of these coins was then?”

I did look up coins from auctions selling from $70 to $100 in NGC grade 65 holders from 2005. The coins have been staying about the same since. The List price of the coins is only listed about $66 to $80 though.  The auctions go higher due to two or more bidders wanting the coin (and the 12% auction fee).

All great questions,

Good Luck

PapaJack