Expert: John DeMarcus - 12/29/2007

Question
Hi John, I'm preparing to sell a number of Morgans that I didn't think could be graded (2008 Red Book starts at "VF") but I've seen "experts" advising other collectors on grades of "AG to F".  Where are they getting this info?  If they can be "officially" graded and have a value higher than "melt", I might hand on to them.  I can't see keeping a "AG - F" graded coin that may have a value of $6 - $10 when selling them for melt value can yield $11 or better (also, each one that goes to melt makes all others of that date and mint a tad more valuable, right!?). Also, a couple of other queries...(a) when they say "hairlines" are they talking the "grooves" or the high points? (b) Are there other NATIONALLY accepted focus points in VF-AU not stated in the Book? Thanks in advance!

Answer
Well your question is complex but I will do my best to give you some ideas and some knowledge. There are many dates of Morgan which in lower than vf grade have value a Redbook is just what it states a guide . Get a Coin magazine with morgans listed and then pick up a grading book to begin to learn grading.Next consult a local coin dealer or club to look at your coins might be of great help in your evaluating these coins. The phrase hairlines means a coin has streakes on it by improper cleaning or wiping and DO NOT clean them ,many coins have had their values lessened by this,pay attention to the dates and mintmarks of them to determine their value