Hey, how's it going? Oh, yeah. Pretty good? Good. What do we got here? A "Scarface" Morgan silver
dollar, top 100 variety. It's one of the cooler ones. It's got probably the
coolest name, though. Say hello to my little friend. Indeed. [laughs] JAKE: I have an 1888
O Morgan dollar, "Scarface" variety that I'm
coming into the pawn shop, looking to sell today. There's about 19 of
these in existence in a graded mint state. I'm hoping to sell
the coin for $15,000. RICK: This is interesting. A Morgan silver
dollar, to this day, it's the most popular collected
coin in the United States.

Morgan silver dollars,
they came out in 1878. The reason why it's
called a Morgan dollar is that the engraver
was named Morgan. We basically imported
him from England because we wanted prettier coins
because they were kind of blah, you know? We've got to be honest about it. So they called him, and he
made this beautiful design. And it literally came out
of the mint like this.

By making silver dollars,
the government would actually make money off the whole thing. So we wanted tons of silver
dollars in circulation. So the way the coin's
made, you have– it's a steel die on
one side, another steel die on the other side. And they put a planchette
at the center of it. So the machine starts stamping
them out really quickly. And the minting machine
basically broke. And so Lady Liberty here
has a scar down her face. It was basically a mistake. Then they replaced the die. But the thing is,
some of these ended up in the bags of silver dollars
that were going to banks. And some of them actually
got out in circulation. Yeah, So where'd you get it? I found it in a box. It's actually been selling in
my collection for four years.

I thought it was a
scratch for four years, and did some research, and found
out it's actually pretty rare. RICK: It's pretty rare. I don't know how many exist. But I'm sure it's less than 100. I've never seen one of these
things in person before. I've seen them in books
and, like, magazines, things like that. Super cool that you
just ran across it. So you probably paid,
like, 20 bucks for it. [laughs] I'll plead the fifth. All right. So here's the deal. There's a weird market in coins
of people who collect errors. And this is considered an error. And it's, like, one
of the coolest errors. It's the king of the errors. RICK: Yeah, they're
pretty collectible. Did you know how much
you wanted for it? 15,000. RICK: $15,000. I have no idea if
that's the right price. Normally, on, like,
a graded coin, you could just look
it up, get a really quick idea of the market value.

But when you start
talking rare, weird stuff, there's not really
a price guide. I got a friend who specializes
just basically in weird coins. Cool. So give me a minute. I'll be right back, OK? Sure. Ah, your little friend. [laughs] Wow. That's it. That's a "Scarface." [music playing] This is one of the most
significant of the errors of Morgan dollars.

This one is particularly
expensive because it is just a huge die break. This die was probably
literally almost falling apart when this coin was struck. So you can tell from
here, the die is broken almost all the way across. So there are four
acknowledged states of this. And collectors of these kinds
of things, the more destruction, the better. If you got this in the first
die state, it's $125 coin. If you get it in
the final die state, it's worth many thousands. This is a terminal
die state, which means it's the most valuable,
so it makes a big difference. OK. So going off the fact that it's,
like, a terminal die state, what's it worth? It's a very, very
specialized coin. The collecting of
errors of Morgan dollars really was only popularized
in the last 30 years. And this one appeals to
a very narrow audience. Because they're so
highly individual, they kind of go all over the
place in terms of pricing. The record for one of
these is almost 20,000. And that was for one that
was a little nicer than this, like a grade higher.

But these things are
very difficult to come up with an exact price
because in one auction, they'll bring a little more,
in one auction, a little less. And the market has mellowed
a little bit since then. So this is worth about $7,000. Well, thanks, man. Perfect. Thank you. Hey, congratulations. Thank you. Thank you. [exhales] I mean, I'd give you,
like, 4,500 for it. I'm going to have
to pass on that. I've received offers above that. And– Have you? –I have no desire to sell it. It's a part of my collection. So you've received
offers of more than $7,000? Yeah. [exhales] I'd go take it then. OK. All right. If the other offer
falls through, and you want 4,500
bucks, come and see me. Will do. Appreciate your time. JAKE: Thank you. Rick's offer is bargain
basement pricing. 4,500 is just too low. I've had it in my
collection for a few years. I don't need to sell it..

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