How I Accurately Graded My Morgan Dollar Collection (And Avoided Costly Mistakes)

I Nearly Graded My Morgans Wrong – Here’s What Fixed It

Last spring, I walked out of a dusty coin shop clutching five raw Morgan dollars – heart racing from the thrill of the hunt, but stomach churning with doubt. Were these 1921 coins actually mint-state treasures or cleverly polished imposters? Like you probably have, I’d been burned before by overgraded coins.

What followed was my two-month crash course in accurate grading. Through costly trial-and-error (that $150 grading fee for an AU58 “MS63”? Ouch), I pieced together a reliable system. Let me walk you through exactly how I learned to grade my Morgans like a pro – before risking submission fees.

The Coin Collector’s Nightmare: Is That Luster Real?

Spread out on my velvet pad, those Morgans stared back with unanswered questions:

• Did the seller’s “MS63” claim hold up under scrutiny?
• Which coins deserved $50+ grading fees?
• How could I spot the red flags before wasting money?

(Spoiler: my first “MS65” had hidden hairlines from an old cleaning – a $300 lesson in lighting angles)

Step 1: My 4-Point Kitchen Table Inspection

Before touching a grading form, I now swear by this ritual:

1. Surface Tells: My 5x loupe reveals the truth – diagonal scratches mean cleaning, not mint luster
2. Strike Sharpness: I compare eagle feathers to PCGS photos – weak denticles often mean lower grades
3. Luster Check: Morning light through my east window shows authentic cartwheel effect
4. Edge Secrets: A rotated flashlight exposes rim nicks that kill premium value

The “Aha!” Moment: Certified Coin Matchups

My grading accuracy skyrocketed when I started this simple trick: comparing raw coins to slabbed examples at local shows. Here’s how it works:

Step 2: Building My Grading Swipe File

I created three reference tools that changed everything:

• Printed PCGS Photograde sheets in my Morgan binder
• A phone album of dealer table TrueViews (with permission!)
• Handwritten notes from comparing my 1883-S to a graded MS64

Step 3: The Side-By-Side Shootout

For each potential submission, I now do this:

1. Snap identical-lighting photos next to PCGS online images
2. Use free editing software to zoom on key areas (liberty’s cheek, eagle’s breast)
3. Score each coin on the 5-point Sheldon scale I adapted

PCGS Submission Secrets That Saved Me $1,200

Armed with my new grading confidence, I developed this tiered approach:

Step 4: The Three-Bucket Strategy

• Bucket 1: My “no-doubters” – strong luster, minimal marks
• Bucket 2: “Maybe” coins needing second opinions
• Bucket 3: Problem children (environmental damage, cleaned)

(This simple sorting saved me from submitting 9/15 coins – $450 saved instantly)

Step 5: Decoding CAC Stickers

While hunting reference coins, I discovered CAC’s subtle language:

• Green sticker = “Yes, this MS64 is solid”
• Gold bean = “This MS64 could be a 65” (and worth 20% more)
• No sticker = “Proceed with caution” – 3 of my submissions fell here

The Payoff: 85% Accuracy and 4 Key Lessons

When my first PCGS returns arrived, my hands shook opening the box. The result? 17/20 grades matched my predictions. Here’s what matters most:

• Luster is king – one coin’s muted surfaces dropped it from MS64 to AU58
• MS63 vs MS64 often hinges on two tiny marks under Liberty’s chin
• Original toning can hide sins – my rainbow 1885-O masked hairlines
• Buying “low-end” graded coins leaves room for upside

This process transformed how I collect. Last month, I spotted an 1899-S selling as AU58 that graded MS62 – a $900 difference. That’s the power of patient, systematic grading. Will you occasionally miss? Absolutely. But armed with this approach, you’ll lose less and win more. Now pass me that loupe – there’s a Carson City dollar calling my name.

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