1889 One dollar (rare)

Hi, I am selling this coin on behalf of someone and have been told it is extremely rare due to its marking and very good condition. If someone could tell me how much it is worth and how I could sell it, It would be very much appreciated. It is an 1889 one dollar but apparently due to the marking on the crown or underneath it, it is worth more than normal? I was told this by a coin shop but they gave me a £3000 price but I rejected it as I thought they were ripping me off. Many thanks.

 

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An 1889 CC Morgan dollar may be worth that kind of money. What I see on your coin is an 1889-P (No Mint Mark) Morgan dollar.
Hate to burst your bubble...but the coin in question is not worth nearly the price you are talking about...
Then again, I am not a Morgan dollar expert so I could be wrong. I hope for your sake that I am.

 

Thank you very much but I was told it was rare due to it marking on the crown like object underneath the eagle? Thanks again for your best wishes.

 

The....ribbon?....That is on all dollars...You want the "CC" below that ribbon for it to be worth a lot of money. If I were you, I'd sell it to the schmuck who offered you £3000 and run away laughing.

Also, you should probably do some research on your own to figure out what is "rare" and what isn't. Especially if you think you are dealing with something worth that much money.

 

I'm rich!

 

Hi Nick. We do really love when someone finds a valuable coin. Your friend’s, unfortunately, is not. But welcome to Coin Talk and stop in for the fun. And learn more about these little metal things we love

 

I think their pricing was somewhat high for the condition, even if it was a cc. Have the owner go with you and tell them , he overruled you and wants to sell. I would take less than 100 myself. Jim

 

Your coin is not rare. $20-$25

 

You should have taken that £3000 price and ran... That coin is only worth about £20.

Also if you think you’re dealing with a very valuable coin you should probably research it before trying to sell.

 

I know I'm going to get a lot of flak for this, but.....

Apparently, we have some people, here, who wouldn't give it a second thought of taking a few thousand dollars in cash that just happened to be visibly laying in a car that was left unlocked.

Welcome to the neighborhood @NickL ! Unfortunately, your 1889 Morgan was produced by the Philadelphia Mint (no mintmark), and there were 21,726,000 of them struck. The really valuable specimen comes from the Carson City Mint (CC mintmark below the ribbon), and there were only 350,000 of them struck.

Personally, if I hoped to do any business with that dealer who offered you 3,000 for it, I would go back and explain to him that it is not worth anywhere near that much. If you took his offer and he found out later that he had been taken, do you think he would ever allow you in his shop again? I doubt it!

Just my 2 Pence worth!

Chris

 

Normally I would agree with you Chris...but if this so called "dealer" is going to offer 3,000 for it...then he should know better. Maybe that is wrong of me...I certainly wouldn't try and fleece little old granny out of her 3,000 but I feel like a "coin dealer" is a different story.

 

Right off the top of your head, can you quote me a price for a 1965 British Crown in UNC condition?

Chris

 

Nope. But I am not a “dealer”.

 

It's not the coin you think it is.

 

Do you think that most dealers in Great Britain would know the value of an 1889 Morgan whether it is a CC or not?

Chris

 

Remember there are hundreds of times that people come in here and say
they were offered X amount for a coin, and that never happened.
I don't know this gentleman and I don't know what transpired. Perhaps we are only hearing part of the story. No one is offering $3,000 for an 1889 Philadelphia Morgan.

 

I would hope that one offering 3k for the coin would.

 

That would be a Churchill Crown. They are quite common and retail for about $3. They have been de-monetized and have no face value.

 

Ah so, grasshopper! However, the reason I cited this coin is because many people aren't aware that there is also a Specimen of the same coin with a satin finish, and it is worth several hundred dollars.

My only reason for using this example was to point out that I wouldn't expect most American dealers to know about it (right off the top of their head) any more than I would expect most British dealers to know the specifics of the 1889CC Morgan.

Don't you think that we have an ethical responsibility to the hobby regardless of whether we are just a collector or a dealer? How are we expected to grow the hobby if we use cutthroat tactics on others?

Chris

 

Well you when get a chance to buy one of those specimen Churchill crowns, let me know, “grasshopper.” When I was in London, the dealers made it clear that us mortals would have to live with the moderately ugly regular issue coins.

For those who are familiar with the coin in question, here it is. It was a great idea, but the care that was taken into making, storing and distrubuting these coins left something to be desired.