Auction House Secrets: How to Maximize Profits Selling CC Added Morgan Dollars at Auction

There is a massive difference between selling on eBay and consigning to a major auction house. Let’s look at how to position this item for the highest hammer price.

After spending over two decades behind the podium and grading table at major numismatic auction houses, I can tell you that the story behind a coin is often just as important as the coin itself. Recently, a fascinating discussion unfolded on a collector’s forum that perfectly illustrates the complexities of dealing with altered numismatic items — specifically, a Morgan dollar where a “CC” mint mark may have been added to an 1879-P dollar. This thread, originally titled “CC Added?”, offers a masterclass in the due diligence that separates profitable sellers from those who leave money on the table. Let me walk you through how an auction house director thinks about these situations.

The Forum Discussion: A Case Study in Mint Mark Authentication

The original poster came across what appeared to be an 1879 Philadelphia Morgan dollar with a “CC” mint mark — the legendary Carson City mint mark that commands significant premiums across all grades. The collector exercised admirable caution, posting high-resolution images and asking the community for opinions. The responses were varied and instructive:

• DesertCoin argued the coin wasn’t rare enough in its grade to make alteration a top likelihood, noting the style was consistent with genuine 1879 production.
• MsMorrisine directed the collector to VAMWorld.com to check for known tilted CC varieties — a critical resource for Morgan dollar specialists.
• Another community member pointed out that since mint marks were hand-punched in the 19th century, slight variances in letter positioning and tilt are entirely normal.
• Perhaps most importantly, one experienced collector noted the coin appeared to have been harshly cleaned or “wizzed” (a form of mechanical polishing), and advised: “No need to get in a holder. Just describe properly whenever you sell.”

This last piece of advice is where the auction house director in me sits up and takes notice. Proper disclosure and description are the cornerstones of successful consignment, and they directly impact hammer price. Let me explain why.

Understanding Buyer’s Premiums: The Hidden Revenue Stream

One of the most misunderstood aspects of auction house selling is the buyer’s premium. When you sell on eBay, the buyer pays the listed price (or winning bid), and you absorb the platform fees — typically around 12–15% for collectibles. At a major auction house, the buyer pays the hammer price plus a buyer’s premium, which currently ranges from 20% to 26% depending on the house and the bidding platform used.

Here’s why this matters for a coin like the one in our forum discussion: the buyer’s premium creates a psychological buffer. Bidders at auction are accustomed to paying above hammer price, which means the final realized price often exceeds what the same coin would fetch in a private sale or on eBay. For a coin with an interesting story — even one with complications like a potential CC addition — this premium structure can work in the seller’s favor.

How Buyer’s Premiums Affect Your Bottom Line

Consider this scenario. A genuine 1879-CC Morgan dollar in VF condition might hammer at $300, with the buyer paying an additional 25% premium ($75) for a total of $375. Now consider the forum coin — an 1879-P with a possible CC addition. If properly described and positioned, it might hammer at $75–$150 to a specialist who finds the variety interesting, with the buyer paying $94–$188 total. The key is that the auction house’s buyer’s premium structure attracts serious collectors who understand nuance and are willing to pay for it.

Seller’s Fees: What You Need to Know Before Consigning

Every auction house charges seller’s commissions, and understanding these fees is critical to maximizing your net return. Here’s a breakdown of the typical fee structure:

1. Seller’s Commission: Typically 0% to 20% of the hammer price, depending on the value of the consignment and your negotiating power. Many major houses offer 0% seller’s commission on coins valued under $1,000 as an incentive to attract consignments.
2. Photography Fees: Some houses charge for professional photography, while others include it in their standard consignment package. Budget $5–$15 per lot if charged separately.
3. Insurance and Handling: Coins in transit to and from the auction house are typically insured, but confirm the coverage limits. High-value items may require additional insurance.
4. Listing and Catalogue Fees: Most major houses do not charge separate listing fees for individual lots, but this can vary for specialty or online-only auctions.

For the coin in our forum discussion, the seller’s fee structure is particularly important. Because the coin has been harshly cleaned and has a questionable mint mark, it may not be suitable for a top-tier auction house that caters to certified-only buyers. Instead, consider houses that specialize in raw coins or variety collecting, where the VAM (Van Allen-Mallis) community is active and knowledgeable.

Auction Timing: When You Sell Matters as Much as How You Sell

In my experience, timing can add 10–30% to a coin’s hammer price. Here are the key timing considerations for consigning a coin like the forum example:

Major Show Schedules

The best time to consign Morgan dollars is in the weeks leading up to major numismatic shows, particularly:

• FUN Show (January): The Florida United Numismatists show kicks off the auction season and draws the year’s largest early consignments.
• ANA World’s Fair of Money (August): The American Numismatic Association’s summer convention is the premier event for Morgan dollar collectors.
• Whitman Baltimore Show (March/November): A strong regional show with active Morgan dollar trading.

Market Cycles

Morgan dollar prices tend to follow broader precious metals markets, but they also have their own collector-driven cycles. When a new VAM variety is discovered or when a major collection is sold (like the Eliasberg or Norweb collections), interest — and prices — spike across the entire series. Monitor these trends and time your consignment accordingly.

Seasonal Considerations

January and August auctions typically see the highest participation and strongest prices. Summer online auctions (June–July) can be slower, which may actually benefit a niche coin like a potential tilted CC variety — fewer lots mean more focused attention from specialists.

Professional Photography: The Single Biggest Factor in Online Bidding

I cannot overstate this: professional photography is the single most important factor in maximizing hammer price for online auctions. The forum poster did a reasonable job with their images, but auction house photography takes this to another level entirely.

What Auction House Photography Looks Like

When I review consignment images, I’m looking for:

1. High resolution (minimum 300 DPI): Bidders need to see mint mark details, surface quality, and any signs of alteration at full zoom.
2. Consistent lighting: Diffused, even lighting that shows true color and surface texture without harsh reflections.
3. Multiple angles: Obverse, reverse, and at least one edge shot. For a coin with a potential mint mark addition, close-up shots of the mint mark area from multiple angles are essential.
4. Accurate color representation: Over-saturated or warm-toned images can misrepresent a coin’s true appearance and lead to returns or disputes.

The Mint Mark Close-Up: A Special Case

For the coin in our discussion, the photography should specifically address the mint mark question. I would recommend:

• A full reverse shot showing the mint mark in context
• A 2x–3x close-up of the CC area showing the letter forms, positioning, and any tooling marks
• A raking light shot that reveals surface disturbances around the mint mark
• A comparison image (if possible) showing a known genuine 1879-CC mint mark at similar magnification

These images serve two purposes: they attract serious bidders who can make their own assessment, and they protect the auction house and seller from post-sale disputes.

Catalogue Descriptions: Honesty as a Sales Strategy

This is where the forum advice — “Just describe properly whenever you sell” — becomes gospel. In the auction house world, the catalogue description is a legal document, a marketing tool, and a trust-building exercise all in one.

How to Describe a Coin with a Potential Mint Mark Addition

Here is how I would write the catalogue description for the forum coin, based on the information available:

Lot 447: 1879 Morgan Silver Dollar, Possible CC Mint Mark Addition. A curious example of this common Philadelphia issue, exhibiting what appears to be a CC mint mark punched into the reverse. The style of the letters is broadly consistent with genuine Carson City production, though the positioning shows a slight tilt that has raised questions among collectors. Surfaces show evidence of a past harsh cleaning, with light hairlines visible under magnification. An interesting piece for the VAM variety collector or the student of mint mark anomalies. We offer this lot as-is, with all questions of authenticity left to the bidder’s judgment. See photos for your own assessment.

Why This Description Works

Notice what this description does and doesn’t do:

• It doesn’t claim authenticity: By using “possible” and “what appears to be,” we avoid making a definitive statement that could create liability.
• It provides context: Mentioning the VAM variety community and the hand-punching process educates potential bidders.
• It discloses condition issues: The harsh cleaning is mentioned upfront, preventing post-sale complaints.
• It creates intrigue: Phrases like “curious example” and “interesting piece” signal to specialists that this lot deserves attention.
• It shifts responsibility: “As-is” and “bidder’s judgment” are standard auction house protections.

The VAM Connection: A Built-In Buyer Pool

The forum discussion revealed that this coin might match one of three known tilted CC VAM varieties. This is enormously valuable information for the catalogue description. The VAM community is one of the most active and passionate segments of Morgan dollar collecting, and they actively seek out unusual varieties — even controversial ones. By referencing VAMWorld.com and the specific variety possibilities, you tap into a pre-qualified buyer pool that understands exactly what they’re looking at.

Grading Considerations: To Certify or Not to Certify

One forum member suggested sending the coin to ANACS for a “Genuine Only” no-grade authentication. This is sound advice for the collector’s personal knowledge, but it’s a more complex decision when selling at auction.

The Case for Certification

• A “Genuine” designation from ANACS, NGC, or PCGS provides a baseline of authenticity for the coin itself (though not necessarily the mint mark).
• Certified coins typically sell for 10–20% more than raw coins of equivalent quality.
• Certification removes one layer of uncertainty for bidders, potentially increasing competition.

The Case Against Certification

• Grading fees ($25–$50 per coin) plus shipping and insurance may not be justified for a coin with a questionable mint mark.
• If the grading service determines the mint mark is added, they may decline to certify the coin at all, or label it with a details grade that could reduce its appeal.
• Raw coins with interesting stories often attract more bidding activity from variety specialists who trust their own eyes over a grading service’s opinion.

My Recommendation

For this specific coin, I would recommend against certification and instead invest in superior photography and a detailed catalogue description. The coin’s value lies in its curiosity and its potential connection to known VAM varieties — not in its technical grade. A harshly cleaned coin with a questionable mint mark will not achieve a desirable grade anyway, and the grading fee would eat into an already modest return.

Actionable Takeaways for Sellers

Whether you’re selling the exact coin from this forum discussion or any coin with similar complexities, here is your action plan:

1. Research thoroughly: Before consigning, check VAMWorld.com, PCGS CoinFacts, and auction archives for comparable sales. Know your coin’s story.
2. Disclose everything: Harsh cleaning, mint mark questions, surface issues — disclose it all. Honesty builds trust and attracts serious bidders.
3. Invest in photography: If the auction house’s standard photography isn’t sufficient, request premium imaging or provide your own high-resolution images.
4. Time your sale: Align your consignment with major shows and peak collecting seasons.
5. Choose the right venue: A coin with a potential CC addition belongs at a house with active Morgan dollar and VAM collectors — not necessarily the most prestigious name, but the right audience.
6. Write the narrative: Work with the auction house to craft a description that tells the coin’s story, acknowledges its flaws, and invites specialist interest.
7. Set realistic expectations: A harshly cleaned 1879-P with a possible CC addition is not going to retire you. But properly positioned, it can sell for multiples of what the same coin would fetch in a bulk lot.

Conclusion: The Value of Transparency in Numismatic Commerce

The forum thread that inspired this article is a microcosm of what makes coin collecting such a rewarding pursuit. A collector finds an interesting coin, shares it with the community, receives thoughtful feedback, and gains knowledge that will inform future purchases and sales. The coin itself — whether it turns out to be a genuine tilted CC variety, a clever addition, or simply an 1879-P with character — has value beyond its silver content.

From the auction house perspective, coins like this are both a challenge and an opportunity. They require more research, more careful description, and more thoughtful photography than a straightforward certified Morgan dollar. But they also attract passionate bidders who see what others miss — the slight tilt of a hand-punched letter, the subtle evidence of a long-ago mint worker’s individual technique, or the mystery of a mark that may or may not be what it seems.

The collectibility of any coin ultimately comes down to the story it tells and the community that cares about that story. An 1879 Morgan dollar with a possible CC mint mark addition sits at the intersection of history, craftsmanship, and human curiosity. It represents an era when every mint mark was punched by hand, when slight variations were the norm rather than the exception, and when the Carson City Mint produced some of the most sought-after coins in American numismatics.

Whether you’re buying, selling, or simply admiring, remember that the best transactions in this hobby are built on transparency, knowledge, and respect for the coins themselves. Describe properly, photograph thoroughly, and let the market decide. That’s not just good ethics — it’s good business.

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