Earlier this year we posted a popular article titled, “Them Old Green Holders,” claiming they ain’t what they used to be. What about low mint state PCGS OGHs, as pictured here with the following grades: 1880-82, MS61, and 1880-S, 1882-S, 1883-O (MS61, all prooflike).
I decided to submit these to PCGS because it rarely grades MS60 and MS61 anymore, seemingly believing that any such coin deserves an AU58. But that’s a subjective opinion.
These were premium-quality coins–so much so, in fact, that I believed the prooflike coins might come close to deep mirror, especially the 1880-S.
Here’s how the grades came back:
1880-S MS63 New Blue Holder
1882-S MS63 New Blue Holder
1883-O MS63 New Blue Holder
So much for prooflike!
1880 MS62 New Blue Holder
1881 MS62 New Blue Holder
1882 MS62 New Blue Holder
In the first grouping, I lost the prooflike but gained two points on the Sheldon scale. Those coins at MS61PL are worth $47, according to PCGS values. At MS 63, without prooflike, they are worth $75 each. Exchanging the OGH for NBH cost $26 per coin at Economy (all costs included), so at $47 plus $26, the coins increased in value by $2 each.
The second grouping earned a bit more. At MS61, each was worth $46. The new grades brought these PCGS values, respectively: 1880, $52; 1881, $55; 1882, $55. Adding $26 per coin for the NBH, the coins increased in value by $7 each.
You can get different results, but my take on this remains Them Old Green Holders Ain’t What They Used To Be, even at low mint state.
POST SCRIPT: Then again, a one or two point difference on some Morgan dollars can spell a tidy profit, especially with rare Carson City and a few San Francisco and New Orleans dates. In those few cases, you might trade your OGH for a NBH … or just consider a CAC sticker and be done with it.