Expert: PAPAJACK - 2/10/2009

Question
I have about 20 Morgan dollars that are polish, I was told they lost the value down to silver value, I have some rare ones like the 1895o in vg condition. How can I take the polish away from the coins? or what is the best way to put them back to the condition they used to be? thanks Sal

Answer
Hello Sal,                 

These coins are damaged; polishing removed the metal that was on top of the coins. There is no way to restore the original surface that has been removed from the coins surface.

Being that these pieces have probably been cleaned, polished they may have other contaminants or residue marks on them as well. This devalues the collecting price by as much as 60%.  

Depending on each coins particular grade, as well as the date and mint mark, you can look up a value in a price guide using the scale of 1 to 70.

Where it lands on the scale (its overall state of preservation) decides its numismatic value. You will have to take away 50% to 60% of the value listed. It will be more than the silver price and only for a rare date would it be a lot of money.
So an 1895 New Orleans Morgan dollar in Very Good (grade 8) might still get $80 dollars if cleaned.

So many coins are still available in Un-circulated grades due to never being used and held only in bank vaults. Still many were issued into circulation and are available in lower grades.

If you need some values write me again with the date and mint mark, of each piece.

If there any more information you require on this question just ask.

Thank You and Good Luck

PapaJack