The Awaited ’86 GTG: My Grading Adventure with a Morgan Dollar

I recently spent some quality time with an 1886 Morgan Silver Dollar that’s been generating real excitement among collectors. As someone who lives for these moments, I was especially curious about this particular coin—it’s earned the nickname “the awaited GTG” in collector circles, which tells you how much anticipation surrounds its grading. Using high-resolution photos, I carefully studied every aspect over several days to form my own conclusions and share what I discovered.

My Personal Grading Experience

Under proper lighting, I started with the coin’s surfaces. The obverse showed strong details on Lady Liberty, but I immediately noticed a mark on her jawline that drew attention. When I flipped it over, a scratch across the eagle’s breast feathers stood out clearly. While neither flaw was major, together they kept this coin out of gem range for me. After cross-referencing PCGS and NGC standards, I landed at MS64—a handsome uncirculated piece, but just short of that gem status we all hope for.

• That jawline mark was the real grade-killer—focal area hits like this often top out at MS64
• The eagle scratch reinforced why it couldn’t hit 65
• The delicate rim toning added lovely character for toning enthusiasts, though it couldn’t offset the other issues

Key Grading Tips for Morgan Dollars

After decades with Morgans, I’ve learned surface imperfections make or break high-grade examples like this ’86. Tiny marks that might slide on lower-grade coins become dealbreakers here. My approach:

• Rotate coins under light—hidden marks often reveal themselves at certain angles
• Scrutinize focal points: Liberty’s face and the eagle take the hardest grading hits
• Remember toning enhances value but never excuses significant flaws

This coin brought back memories of a PCGS MS65 Morgan I examined with a glaring gash—it reminded me that even professional services aren’t infallible. Your own judgment matters just as much as the label.

Market Observations and the Premium of Patience

Subtle rim toning like this ’86 shows often tugs at collectors’ hearts (and wallets), typically adding 10-20% over untoned examples—but only when the base grade justifies it. The buzz around this coin also reminded me why patience defines our hobby. Whether waiting for a grade reveal or the perfect buying opportunity, that delicious tension is part of the magic. I’ve learned the hard way that rushing leads to regrets, so now I savor the process.

In the end, coins like this ’86 Morgan—whether MS64 or MS65—capture why we collect. Choose pieces that speak to you personally, because the true reward lies in the pursuit. Happy hunting!