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 Replies: 67 / Views: 7,924 |
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Bedrock of the Community
United States
12057 Posts |
To finish a date/MM set I need: 1879 - P, CC 1880 - P 1881 - P, CC 1883 - P, CC 1885 - P, S 1886 - S 1888 - S 1889 - CC 1891 - CC 1892 - P 1893 - S, CC 1894 - P 1895 - P, S 1898 - P 1899 - P, S 1900 - P, S 1901 - P 1902 - S 1903 - O I think that totals up to 27 coins I still need   And it will cost many thousands of dollars  @Paul - Not really   Member ANA - EAC - TNA - SSDC - CCT #890 "Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis |
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Pillar of the Community
United States
1450 Posts |
That would be a hard task. Just to fill a set of date/mint Morgans is a hard and expensive job. More expensive than hard really because they are all available if you have the money except maybe 1895 proof. Once you get 85 Morgans what are you going to do? I can't abandon the set now without finishing it the best I can if it takes a year or longer. I don't like buying low grade coins but I may have to in order to just finish. Maybe I should just hold out and buy at least AU coins.
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Valued Member
United States
294 Posts |
Forget the Morgans, and go for scarce date and low pop. 19th century gold.
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Pillar of the Community
United States
1450 Posts |
Which scare date and low pop. 19th century gold do you have in mind? Think Morgans are expensive try the scare gold coins. You are thinking this is where you get the biggest bang for the buck?
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Bedrock of the Community
United States
12057 Posts |
Quote:
Forget the Morgans, and go for scarce date and low pop. 19th century gold. If someone would front me a million bucks or two, I could afford to do this... As it is, not being a millionaire, Morgans will have to do for now. Member ANA - EAC - TNA - SSDC - CCT #890 "Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis |
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Pillar of the Community
United States
1450 Posts |
There are many Liberty Standing quarters with mintage of just over a million. Most you can get for less than $100 in VF condition and even EF condition. I think these coins should be scarce since the surviving coins before 1925 with decent dats is quite small. All the LSQ's after 1925 except the 27-S can be collected in at least EF or AU for small prices and many of these coins have mintage of just over one million. There is only one coin in the whole set that is a %$#@ buster. |
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Valued Member
United States
245 Posts |
This is a GREAT thread. I started collecting GSA CC coins last year. I jumped in head first and wish I would've done a few things different. I've cooked off on them lately because of my interest in mexican proof libertads. I think that's where the money will be in the next 20 years. With the influx of Mexicans in general, the already tiny mintage and beautiful Libertad is the next hot thing. Having said that, I still love and want to complete/upgrade my Carson City GSA set. If you are simply looking at this as an investment, just spend the entire 125k on the 1889CC coin. You can buy at least an 89CC DMPL MS65 for that money AND it'll double in 6-8 years...think about that. There was a ms68 89CC that sold for 600k in 09, turned around and sold for 900k five years later!! There's an 89CC MS62 DMPL PCGS graded coin for $49,995 right now on ebay. That would qualify as one heck of an investment coin. I'll bet the pop on these are TINY in ms62, let alone DMPL! Edited by TMCD75
09/14/2016 10:36 pm
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Pillar of the Community
United States
1450 Posts |
That is really putting all your eggs in one basket. I think a complete set of CC Morgans in at least high AU for the 1889CC would be a challenge and would spread the risk.
You could get the others in MS, but to sink all your money just in one coin is really a gamble. Coins seem a crummy investment unless you can hold them for 40 years. I Buy one preferred stock for 50K and it returns 7% annually. It is making $3500 a year for me while coin makes nothing. Look some place else to invest.
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Pillar of the Community
United States
574 Posts |
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Valued Member
United States
245 Posts |
Terry, It is putting all of your eggs in one basket but it's not quite that simple in this case. This basket is about investing in arguably the most elusive Morgan dollar out there, the 89CC. I agree with you about investing in the markets first, but this isn't a bad alternative investment. The reasons are: the 89CC is extremely rare in ANY condition, it's even more rare in these mint state DMPL or Proof Like conditions. It's not like they will find a bag of 89CC in mint state hidden in the government vaults, they've already culled through those. The Morgan dollar series is the mist popular coin out there, that's another plus. If I had 125k, I would either put together the very highest set of CC GSA dollars I could find, take the 125k and buy the best 89CC & 93S coins I could afford, or put together the Mexican Libertad silver proof onza series, or the Libertad gold proof series. In 10 years time, chances are really good that your above coin investment scenarios would show STRONG growth. The Mexican Libertad proof market is going to go wild these next few years. |
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Pillar of the Community
United States
1450 Posts |
I would like to hear more about the Mexican Libertad silver proof onza series, but I think this forum is more about USA coins. I have a number of Mexican coins and I really like them. Perhaps we could have a discussion about them via email. Among the Morgans the 93-S gets all the glory, but the 1894 has a mintage of just 10,000 more and sells for a fraction of the 93-S.
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Pillar of the Community
 United States
533 Posts |
Like I said for me this isn't about investing but collecting something I enjoy. The hobby aspect of it  Just that it is such an expensive hobby I questioned the strategy. Stocks may be a better investment but looking at s bank statement doesn't compare to looking at aDMPL Morgan in MS-64 or better |
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Pillar of the Community
United States
1450 Posts |
Jax Coin collecting has become an expensive hobby. I like getting attractive coins at what I consider a decent cost. If you are really a long term investor I think coins are a good way to make some money. If you don't care about the investment aspect of collecting it is still an expensive hobby because people just can't find scarce coins in the money stream these days. When was the last time you saw a 1926-S Buffalo nickel or an early dime, quarter or half dollar in your change? So if we want to collect Morgans you must buy them. If you find a DMPL Morgan in MS65 then it will probably cost you a premium, but it will have a value that will probably not disappear when the stock market crashes. I do know that many ordinary citizens do think you need a small fortune to collect coins. We know this is not true, but they only hear about the super rare coins that bring in a million dollars at auction. I think setting a budget for collecting Morgans or any coin can work for long term, but sometimes you get an opportunity to buy a key date at a good price and that is the time to buy if you have the money. I bought a 1923-S LSQ in EF condition at a good price from someone I knew and trusted. It cost me more than $1000, but I did it to fill my set minus the 1916. I admit now that I only have the more expensive Morgans left to complete my set it is getting more painful to buy them. I don't know how I justify it except it is an indulgence that I might be able to afford if I buy lessor grade coins. These are the coins I want to buy certified, or to actually see and touch the coins. |
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Pillar of the Community
United States
6370 Posts |
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Coin collecting has become an expensive hobby. No it's not. Those who collect US make it an expensive hobby for themselves. I can think of dozens of other areas of collecting that are just as rewarding and much cheaper. (Ancients, hammered medieval silver, pre-1950 eastern European coins, etc.) I'm not saying that those who collect US are wrong. I'm just saying you don't have to burden yourself financially (or emotionally by not being able to complete a set) by thinking you have to collect US coins. |
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Pillar of the Community
United States
1450 Posts |
We need more books and price guides on individual groups of non-USA coins with pictures. I would like a book on just segments of world coins and not some huge book with no pictures and prices for every world coin in existence which is what I have now. The reason the world coins are cheaper is due to lack of demand. Who collects coins in the world besides the First World peoples who have the money to buy them. That means Western Europe, the USA and Japan and maybe China.
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Posted 09/08/2016 10:07 pm
