Finding Resubmitting Graded Coins in the Wild: A Cherry Picker’s Guide

Introduction: The Roll Hunter’s Advantage

Finding a rare 1895-S Morgan Dollar doesn’t always require a trip to a high-end dealer. With patience and a sharp eye, you can uncover these treasures hidden in circulation or bulk lots. Here’s what to look for when searching through rolls or estate sales.

Historical Significance of Morgan Dollars

The 1895-S Morgan Dollar is a true gem from the late 19th century, minted during the height of the silver boom. Produced at the San Francisco Mint, these coins circulated widely across the western United States. The 1895-S is particularly significant as one of the final years of Morgan Dollar production before the series was briefly suspended in 1904 and revived for a single year in 1921.

The Carson City Connection

While the 1895-S wasn’t minted at the legendary Carson City Mint, it shares the same historical context as its Carson City counterparts. The Carson City Mint, which operated from 1870 to 1893, produced some of the most coveted Morgan Dollars in the series. Understanding this historical connection can help collectors identify potential cherry picks when searching through bulk lots or estate sales.

Identifying Key Markers

When roll hunting or searching through bulk lots, there are several key markers to look for that might indicate you’ve found a resubmitted graded coin or a valuable variety:

Physical Characteristics

• Wear Patterns: Look for consistent wear that suggests the coin has been properly graded. An F-12 (Fine 12) coin should show moderate wear with all major design elements visible but flattened.
• Surface Quality: Check for original mint luster or signs of cleaning, which can significantly affect the coin’s value.
• Strike Quality: San Francisco Morgans typically have sharper strikes than their Philadelphia counterparts, making them stand out in a collection.

Authentication Markers

“The grading company wouldn’t have any guarantee that the condition of the coin was unchanged from the time it was cracked out to the time it was submitted.” – MFeld

Understanding the Resubmission Process

The discussion around resubmitting graded coins reveals important insights for collectors. Once a coin is cracked out of its holder, it becomes a raw coin, and the original certification becomes invalid. This creates both opportunities and risks for roll hunters.

Key Considerations for Resubmission

• Documentation: Keep all original certification tags and documentation, as these can provide valuable provenance even if not officially recognized by grading services.
• Condition Changes: Be aware that removing a coin from a holder can potentially damage it, affecting its grade if resubmitted.
• Population Reports: Understand that cracking out coins and not returning certification tags can skew population reports, affecting rarity assessments.

Value Guide: What Makes These Coins Special

The value of an 1895-S Morgan Dollar in F-12 condition depends on several factors:

Market Factors

• Certification Status: Slabbed coins generally command higher prices, especially above certain price thresholds.
• Provenance: Coins with documented history or original certification tags may have enhanced value.
• Market Demand: Collector interest in specific dates and mint marks fluctuates over time.

Investment Considerations

“Above a certain price level, the majority of collectors want to buy coins that are slabbed.” – Clackamas1

Best Practices for Roll Hunters

When searching through circulation, bulk lots, or estate sales, consider these strategies:

Documentation Strategy

1. Photograph certification tags before cracking out coins
2. Keep detailed records of purchases and provenance
3. Consider the tax implications of keeping original documentation

Risk Management

• Handle coins carefully to avoid damage
• Store coins properly to prevent environmental damage
• Be realistic about the chances of maintaining the same grade if resubmitting

Conclusion: The Collector’s Responsibility

The discussion around resubmitting graded coins highlights the complex relationship between collectors, grading services, and the secondary market. As a roll hunter, understanding these dynamics can help you make informed decisions about which coins to pursue and how to handle them once acquired.

Whether you’re searching through rolls, attending estate sales, or examining bulk lots, the key is to balance the potential rewards against the risks and responsibilities of coin collecting. Remember that while certification can add value and provide authentication, the true value of a coin ultimately lies in its historical significance, rarity, and the joy it brings to collectors.

Happy hunting, and may your next roll reveal a hidden treasure!

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