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Buying Morgan's In Bulk

 
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Valued Member

United States
421 Posts
 Posted 04/21/2018  12:41 pm Show Profile   Bookmark this topic Add Jbedwell to your friends list Get a Link to this Message
I have a question on an opportunity I came across and just wanted confirmation. I have the opportunity to buy 315 Morgan silver dollars at $20 a piece. Now most are AU (ungraded) and common dates and about 15 are pretty worn so just Silver value and 10 that would definitely hit MS. I understand $20 is a good price but I have to buy all or none. They have been stored properly. What are your thoughts. Thank you
Pillar of the Community
United States
1551 Posts
 Posted 04/21/2018  1:07 pm  Show Profile   Bookmark this reply Add Tootallious to your friends list Get a Link to this Reply
For $6,300 I think I would buy some coins that I really wanted. 315 Morgan's is a lot. I would have to venture to say that there would be a lot of duplicates! However, if your good at marketing there is a possibly to make a good profit though it would more than likely take some time to sell that many! I personally wouldn't do it!

Edit: I forgot to ask if you are able to view thes coins?
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Edited by Tootallious
04/21/2018 1:09 pm
Pillar of the Community
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United States
3373 Posts
 Posted 04/21/2018  1:13 pm  Show Profile   Bookmark this reply Add KenKat to your friends list Get a Link to this Reply
What would you want to do with them? Will the idea of a massive stack of Silver Morgans get your engines running? Or do you want to sell them and make a little money on the side at some point in the future? Or will they just tie up $6k and sit around?
Pillar of the Community
United States
3157 Posts
 Posted 04/21/2018  2:38 pm  Show Profile   Bookmark this reply Add mkman123 to your friends list Get a Link to this Reply
Its a good deal and you can sell them easily later. Some people stack 90% junk silver, or bullion, its fun to stack morgans/peace. I did.........I have nearly 1,000 of them but I sold the majority to pay off some bills and all.
Pillar of the Community
United States
1587 Posts
 Posted 04/21/2018  3:32 pm  Show Profile   Bookmark this reply Add Zurie to your friends list Get a Link to this Reply
If you're sure they are all genuine and you have the time, you can't lose. You could sell most of them for a slight profit and keep the MS ones for free.
Bedrock of the Community
United States
17373 Posts
 Posted 04/21/2018  3:42 pm  Show Profile   Bookmark this reply Add moxking to your friends list Get a Link to this Reply
All or nothing at $20 each would probably be a nothing for me just because I'm prejudiced against Morgan's because of their availability.

Try calling a few dealers to see what they would offer. I doubt any will be at $20.
Bedrock of the Community
United States
12461 Posts
 Posted 04/21/2018  3:42 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply
What would your end goal be by doing so?
Pillar of the Community
United States
3479 Posts
 Posted 04/21/2018  4:13 pm  Show Profile   Bookmark this reply Add MikeF to your friends list Get a Link to this Reply
For that type of transaction, I would be at spot but I would never tie up that type of capital for morgans. They're a dime a dozen. I pick them up out here from pawn shops at spot when they come in and quickly flip them.
Hi, my name is MikeF and I'm a degenerate coin collector. I also like adventure, big trucks, long walks on the beach and the Kansas City Chiefs.
Pillar of the Community
United States
843 Posts
 Posted 04/21/2018  4:44 pm  Show Profile   Bookmark this reply Add thecoinguy1964 to your friends list Get a Link to this Reply
You can get them for less on facebook, there's tons of silver dollars going for $18.
"When a strong man, fully armed, guards his house, his possessions are safe."
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Bedrock of the Community
10197 Posts
 Posted 04/21/2018  5:03 pm  Show Profile   Bookmark this reply Add Crazyb0 to your friends list Get a Link to this Reply
Auctions I frequent are selling by the boatloads at $18 and less. Now true there are BP's but the flipping profit for that quantity will be negligible, $2-4 per coin. Venture to say the MS/AUs will be 1921's, those are $16 at auction today.
Pillar of the Community
United States
1380 Posts
 Posted 04/21/2018  7:49 pm  Show Profile   Bookmark this reply Add jpsned to your friends list Get a Link to this Reply
I'll tell you what I'd do with them--I'd pour them onto my living room rug and roll around in 'em!
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Canada
2714 Posts
 Posted 04/21/2018  8:15 pm  Show Profile   Bookmark this reply Add oriole to your friends list Get a Link to this Reply
I would be tempted if there is a good range of dates and MM and I was just starting a date/ MM set.

But then again I like Morgans.
Valued Member
United States
421 Posts
 Posted 04/22/2018  5:25 pm  Show Profile   Bookmark this reply Add Jbedwell to your friends list Get a Link to this Reply
Thank you for the feedback! I got them down to $18 each. I not worried about spending the money I want to get them for my 2 boys and give them to them when they turn 18. I have put other coins away for them and it may be something they want to keep or help put a down payment on a house after college, they are 6 & 7 years old now
Pillar of the Community
United States
2413 Posts
 Posted 04/22/2018  5:39 pm  Show Profile   Bookmark this reply Add Slider23 to your friends list Get a Link to this Reply
You made a nice buy at $18 each.
Pillar of the Community
United States
3157 Posts
 Posted 04/22/2018  6:58 pm  Show Profile   Bookmark this reply Add mkman123 to your friends list Get a Link to this Reply
good job, if you get your boys into coins, they will really enjoy what you did for them
Valued Member
United States
104 Posts
 Posted 04/22/2018  10:11 pm  Show Profile   Bookmark this reply Add Narrowback44 to your friends list Get a Link to this Reply
Great buy its a lot of fun. Enjoy with the boys.
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