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Lately, I’ve found myself completely captivated by the 1899-O Morgan dollar, especially those elusive proof-like (PL) specimens. After spending quality time with one recently, I wanted to share some honest observations about grading, market realities, and hunting strategies that might help fellow collectors.
Grading the 1899-O Morgan: My Perspective
This coin really got me thinking when I examined it – no wonder collectors debate its condition so fiercely! In my view, it typically lands between MS63 and MS64, though occasionally you’ll see an MS65PL surface. A few things stood out:
- Photos can be misleading – you’ve really got to see the coin under proper lighting to judge those PL surfaces accurately
- While I’d grade most around MS63-64, that PL designation makes a huge difference when the mirrors are crisp – that’s what you want if you’re after one
- ICG does decent work on accuracy, but they just don’t command the same respect as NGC or PCGS in the marketplace
Why Slab Choice Matters
From what I’ve seen over the years, slabbing with NGC or PCGS genuinely affects how collectors perceive and value coins. Even if the grade stays identical, moving this coin into an NGC holder makes practical sense for registry sets. Why? Because the market consistently pays more for those top-tier slabs – it’s about confidence and easier resale. My two cents? If you’ve got a raw example or one in a less recognized holder, upgrading to NGC or PCGS could pay off, particularly for scarce dates like our 1899-O.
Tracking Down Those Rare Morgans
Bagging a PL 1899-O takes serious patience – I learned this the frustrating way when one slipped through my fingers at auction. But don’t get discouraged! Here’s what’s worked for me:
- Go beyond browsing websites – actually call dealers and ask about specific coins. I landed several ICG PL Morgans just by asking my regular guy
- Cultivate relationships with shop owners or trusted sellers – they often have unlisted treasures
- With auctions, vet sellers thoroughly to avoid those “oops, already sold” headaches
At the end of the day, the 1899-O Morgan offers that perfect blend of challenge and reward we collectors live for. Keep your standards high for condition, choose your slabs wisely, and stay persistent in the hunt – that’s where the real excitement lives in our hobby!
