Morgan Buying Strategy - Question - Page 5

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TypeCoin971793 Pillar of the Community United States 6370 Posts	Posted 09/17/2016 4:15 pm Quote: 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. Such books exist for every numismatic area. The Krause catalog isn't the only world coin catalog in existence. Report this Post to the Staff
jaxenro Pillar of the Community United States 533 Posts	Posted 10/14/2016 09:55 am So I finally got around to pricing this out For a basic Morgan collection of 117 key coins based on buying the highest grade of each available for under $500, or if that coin isn't available for under $500 then the lowest grade/least expensive coin then it would be in the $40,000 to $50,000 range which is affordable For the PL set, looking at DMPL prices, just to get the 100 key coins would be $250,000 +, a little past my range. I am assuming PL is less than DMPL so I will look at those meanwhile I am working on filling in the first set and buying the DMPL's that strike my fancy. I may never complete a set of them but they are nice to buy Report this Post to the Staff
terry8835 Pillar of the Community United States 1450 Posts	Posted 10/14/2016 10:41 am I think you can do better than 50K if you just rule out the 1895 proof and get the 93-S in just F, some others in VF to AU and the common ones in MS. I lack 12 Morgans to make a set. You can buy 50% of Morans in MS condition and quite a few in AU for much less than $500. The really tough ones I have in VF to EF. There are less than a dozen Morgans that really put getting a set in MS out of the question for most of us. If I had a couple of hundred grand I just wanted to spend I would got after all of the Morgans except the 93-S and 95 proof in at least MS60. The thing is , of course, I may have a couple of hundred K but they are in stocks that pay dividends so I can pay my taxes. Coins just don't work that way. I think I could just about get all the coins I want in EF to AU for $500 to $1000. There would be a couple that would be much more expensive in almost any grade. The 1894 is one of the best deals out there IMO. Mintage of 110,000 for $1000 in AU condition. Somebody is going to wake up and realize this coin is undervalued. Only 10,000 more than the 93-S and the 94 goes for $8000 in MS64 and for the 93-S the price is $300,000 in the same condition. Did all the 93-S coins just disappear or did all the 94's just get saved in a vault and thrown on the market? I just don't know enough about how each Morgan dollar is valued. I started collecting them and just got hooked. Report this Post to the Staff
jaxenro Pillar of the Community United States 533 Posts	Posted 10/14/2016 9:32 pm I know I could do better than $50K but remember my goal was to get the highest grade for under $500 per coin so it includes a bunch of MS-66, 65, and 64's. $50K spread over 5 to 7 years isn't all that bad it's about $125 to $150 per week or about a coin a month. Almost half are 64 or better and 3/4 are 60 or better in this case $500 fit my budget and time frame if you set a limit of $250 you could probably be under to $25K and still get some 64's in there. There are still around 20-25 or so Morgans in MS-64 for under $100 and another 30 or so between $100 and $250 Report this Post to the Staff
terry8835 Pillar of the Community United States 1450 Posts	Posted 10/14/2016 10:46 pm There are even a number of MS65's you can get for less than $250. There is nothing wrong with your plan. You know the so-called experts say to buy the key dates first but with Morgans you would be broke with your first couple of purchases. It does start to grind a bit when I pay more than $500 for a coin but I have done it in the past and I will do it again when the mood comes on me. The most I ever spent was $1300 for a 1923-s LSQ in EF condition that was slabbed and graded. I also bought a 1937 3 legged Buffalo nickel that cost me over $600, but it was worth it. Report this Post to the Staff
jaxenro Pillar of the Community United States 533 Posts	Posted 10/15/2016 08:45 am I'm trying a little of both. For instance I have the 1880-S in MS-66 on my list so I look at all the examples that I see on ebay, Great Collections, etc. If I come across one that looks good for the grade and the price is good I will buy it even if it isn't a key date. I figure if I buy one out of five or so as key dates eventually I will have everything I need. So I am neither buying all the keys up front or saving them all for the end What is fun on the non keys is given the selection I can be choosy. If there are multiple examples of a common coin in a given grade I can pick what looks like the best to me. Not all MS-64's are created equal some are better strikes, have more definition, etc. so there is room to play. Edited by jaxenro 10/15/2016 11:48 am Report this Post to the Staff
terry8835 Pillar of the Community United States 1450 Posts	Posted 10/15/2016 8:14 pm I have a few AU58 coins that look better than MS63's. I took one of my less common AU58 Morgans to my LCS and the owner thought it was close to DMPL because of the deep finish and the striking detail. I don't know how that could be but I do have some very nice AU Morgans that are really bargains compared to MS Morgans that just do not look that great. If I could get 12 of the Morgans on my list in AU50 I would jump for joy. Report this Post to the Staff
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