Finding PCGS 108 Rattler on eBay in the Wild: A Cherry Picker’s Guide

Historical Significance

The PCGS 108 Rattler represents a fascinating chapter in numismatic history. These early PCGS holders, produced in the company’s formative years, have become highly sought-after collectibles in their own right. The 108 Rattler designation refers to the specific holder style used by Professional Coin Grading Service in the late 1980s and early 1990s, characterized by its distinctive white or green label design.

Identifying Key Markers

When searching through circulation or bulk lots, there are several key markers to look for when hunting for these elusive Rattlers:

• Holder Style: The 108 Rattler features a specific holder design that differs from modern PCGS slabs. The white label version is particularly desirable and represents coins that were likely graded in PCGS’s earliest days.
• Label Color: As discussed in collector forums, there’s a significant distinction between white label and green label 108 Rattlers. White label coins are part of the official PCGS census, while green label versions lack this documentation.
• Condition: Many 108 Rattlers show signs of age, including toning or wear on the holder itself. This patina can actually add to their collectibility.

Value Guide

The market for 108 Rattlers varies dramatically based on several factors:

“Not even FBL, no thanks. Typical crazy person EBay pricing, sure a gold CAC on a rattler but it is a common coin in MS66 and only retails at 1500 in MS67.”

This quote from a collector forum highlights the importance of understanding that the holder’s value is separate from the coin’s intrinsic worth. A common Morgan Dollar in an 108 Rattler holder may only be worth a modest premium over its raw value, while a rare date or high-grade specimen can command substantial premiums.

Price Ranges to Expect

• White Label 108 Rattlers: These typically command the highest prices due to their documented census status. Recent sales have shown prices ranging from $1,500 to over $100,000 for exceptional specimens.
• Green Label 108 Rattlers: Generally priced lower than white labels but still carry significant premiums. Expect to see prices in the $500 to $5,000 range depending on the coin inside.
• Common Date Coins: Even common Morgan Dollars or other coins in 108 Rattlers can fetch $200-$500 premiums due to the holder’s collectibility.

Where to Find Them

Roll hunting and cherry picking for 108 Rattlers requires patience and a keen eye. Here are the best sources:

Circulation Finds

While extremely rare, it’s possible to find these holders in circulation, particularly at coin shops, estate sales, or in inherited collections. Look for older holders with distinctive labels.

Bulk Lots

Online marketplaces and coin dealers often sell bulk lots of slabbed coins. These can be goldmines for finding 108 Rattlers, as sellers may not recognize their significance. One collector reported finding a desirable specimen on eBay for $1,950, noting they “probably overpaid, but I’m still happy with it.”

Estate Sales

Older collections often contain coins in vintage holders. Estate sales can be excellent hunting grounds for 108 Rattlers, as previous generations of collectors may have submitted coins to PCGS when these holders were current.

Authentication and Verification

When you do find a potential 108 Rattler, verification is crucial:

Checking CAC Stickers

Some 108 Rattlers may have CAC (Certified Acceptance Corporation) stickers. These gold stickers indicate that the coin has been evaluated as high quality for its grade. However, be aware that CAC stickers can sometimes become detached from the holder, as noted in one forum discussion where a seller mentioned “cac label is detached from coin.”

PCGS Verification

Always verify the coin’s certification number through PCGS’s online database. This will confirm whether it’s a documented white label 108 Rattler or an undocumented green label version.

Common Pitfalls

Several issues can complicate 108 Rattler collecting:

Detached CAC Stickers

As mentioned in forum discussions, CAC stickers are attached with simple adhesive and can become detached over time. While this doesn’t affect the coin’s grade, it may impact the holder’s overall appeal to some collectors.

Misidentification

Newer collectors might confuse 108 Rattlers with other early PCGS holders. Familiarize yourself with the specific design elements that distinguish these holders.

Overpaying for Common Coins

Remember that a rare holder with a common coin inside may not be worth dramatically more than the coin’s intrinsic value. One collector noted that a non-Full Bell Lines Morgan Dollar in an 108 Rattler wasn’t worth the asking price, even with a CAC sticker.

Investment Potential

The 108 Rattler market continues to evolve. White label specimens, particularly those with documented provenance or exceptional coins inside, have shown strong appreciation. The record-setting sale of an 1881-S Morgan Dollar in an 108 Rattler for $119,000 demonstrates the potential for these holders to contain hidden treasures.

Factors Affecting Value

• Documented Census Status: White label 108 Rattlers with PCGS documentation command the highest premiums.
• Coin Quality: The coin inside must be considered alongside the holder’s rarity.
• Market Demand: Collector interest in early PCGS holders continues to grow.

Conclusion

Finding PCGS 108 Rattlers in the wild requires patience, knowledge, and a bit of luck. Whether you’re searching through roll finds, bulk lots, or estate sales, understanding the key markers and market dynamics can help you identify valuable specimens. Remember that while the holder itself is collectible, the coin inside must also be considered when evaluating potential purchases. With careful research and a discerning eye, you might just uncover a numismatic treasure in an unassuming early PCGS holder.

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