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Key Date Compromises

 
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 Posted 09/04/2018  12:34 pm Show Profile   Bookmark this topic Add Stewillard to your friends list Get a Link to this Message
This is likely a worn out subject but anyway... I'm thinking most collectors here have experienced the dilemma of selecting an important coin or not. I'm facing that problem now trying to finish off a Morgan dollar album. For a collector with limited resources, a compromise is necessary.

Barely within my range I see very worn coins or damaged coins with better detail. Personally, I'm inclined to go with a somewhat damaged coin with better detail.

I'd like to here some opinions about this choice. I'm expecting to here it is totally just my choice, as is obvious, but there might be more to it. If there will ever to be a future value for such a collection, what would be your choice?
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 Posted 09/04/2018  1:19 pm  Show Profile   Bookmark this reply Add SilverDollar2017 to your friends list Get a Link to this Reply
I'd go with a nice worn coin than a higher grade problem coin. I have just completed my Morgan dollar date set album, so I know what you mean. I used a low grade coin for the key 1895 slot. IMO, problem coins are harder to sell in the future than lower grade problem free coins.
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 Posted 09/04/2018  1:46 pm  Show Profile   Bookmark this reply Add Crazyb0 to your friends list Get a Link to this Reply
Good advice SD. But like OP said, comes down to his choice. Sounds like more an investment minded collection than one for just ones own satisfaction. Personally, my budget and time left on this ball preclude even a low grade key date and that goes for even some semi-keys too. I have the typical list of unobtamiums, the 1909SVDB, 1877 Indian head, etc that I will never be able to save/scrimp for in many years. So it's either limit to ONLY one series for the rest of my life, and work toward completion as say Morgans, or have the satisfaction and enjoyment of a lot of almosts to look at and share with others. I like alot...
Edited by Crazyb0
09/04/2018 1:47 pm
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 Posted 09/04/2018  2:25 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
I concur that a worn specimen of a key date is preferable to a damaged one.



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 Posted 09/04/2018  2:39 pm  Show Profile   Bookmark this reply Add CoinCollector2012 to your friends list Get a Link to this Reply
A problem free example is the way to go. It will be much easier to sell in the future.
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 Posted 09/04/2018  3:18 pm  Show Profile   Bookmark this reply Add Stewillard to your friends list Get a Link to this Reply
Thanks for the honest opinions. It's a difficult choice and the fact I'm new to it all caused me to ask for advice.


Quote:
Good advice SD. But like OP said, comes down to his choice. Sounds like more an investment minded collection than one for just ones own satisfaction.


I've already come across unobtainable (for me) Morgan dollars. With the damaged coins seeming to cost less, regardless of their better detail, I was wondering if that was a common way to go. For me it's still a cost decision to make.

I can't imagine building a Morgan collection for investment. My collection is mostly raw coins and from what I hear would sell for little above melt value. I'm strictly collecting for fun an to be able to pass something along.

I enjoy collecting regardless of the disappointment that comes with the compromises. All of you folks here add to the enjoyment!

Thank you!!
Edited by Stewillard
09/04/2018 3:21 pm
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 Posted 09/04/2018  4:09 pm  Show Profile   Bookmark this reply Add thisistheshow to your friends list Get a Link to this Reply
Sounds like you got some great advice. What type of "damage" are you referring to. That is important to consider. Eye appeal is a very important element when it comes to being happy with your set and if you decide to sell.
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 Posted 09/04/2018  4:13 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
I'd go with a nice worn coin than a higher grade problem coin.
I agree.
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 Posted 09/04/2018  5:07 pm  Show Profile   Bookmark this reply Add fioti to your friends list Get a Link to this Reply
In the future? I remember in '65, when I was 8, you could get an '09SVDB for about 100.
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 Posted 09/04/2018  5:39 pm  Show Profile   Bookmark this reply Add Stewillard to your friends list Get a Link to this Reply

Quote:
thisistheshow said: What type of "damage" are you referring to. That is important to consider. Eye appeal is a very important element when it comes to being happy with your set

I'd consider rim or edge damage but not a literally defaced coin. I agree a trashy coin makes a trashy collection. I think maintaining a reasonably consistent look is important.

Bill
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 Posted 09/04/2018  6:27 pm  Show Profile   Bookmark this reply Add T-BOP to your friends list Get a Link to this Reply
I personally hate problem coins . So with my keys I have opted for lesser grade coins like G-04 and G-06 with clear dates and MM .
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11931 Posts
 Posted 09/04/2018  6:29 pm  Show Profile   Bookmark this reply Add GR58 to your friends list Get a Link to this Reply
There are two sides to this issue.

For many collectors they might never come up with the funds for some
problem free key date coins. So it might come to having a empty hole
or filling it with something you can afford.

There are different levels of problem coins. The really bad problem coins
I would stay away from. There are slightly cleaned coins that don't look to
bad in a album. In my opinion finding out what the problem coin would sell
to a dealer, is a good place to start.

Sometimes you can overpay for a problem free coin, and may never be
able to get what you paid for it.

Just a example .... I am not looking up the exact prices ... but something like this.

1893 S Morgan
You might pay $5000.00 for a mid grade problem free coin.
Take it back to the dealer he might give you $3800 for it.

A problem coin, mid grade 1893 S you might be able to purchase for
$3500. The dealer might buy it back for $2500.

All I am saying is that, problem coins can also be bought and sold, just
learn what the price should be.

No one can predict what either coin will sell for decades from now.

When I buy my 1893 S I will not exclude a lightly cleaned example, if
I can buy it for the right price.

Edit ... I would work hard to purchase the lightly cleaned coin closer to the $2500.
Edited by GR58
09/04/2018 6:44 pm
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 Posted 09/04/2018  7:34 pm  Show Profile   Bookmark this reply Add chesterb to your friends list Get a Link to this Reply
For a set, I try to get a consistent look/grade across the set. If you have a relatively untoned, higher end album then a lower graded circ coin may not fit in to well and will stick out like a sore thumb. In that case, I may opt for a better detailed, lightly cleaned coin. For me it's the look of the set and how each coin fits that's just as important as the individual coin themselves. With that said, I agree all things being equal, problem free coins are preferable.
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 Posted 09/04/2018  9:26 pm  Show Profile   Bookmark this reply Add MikeF to your friends list Get a Link to this Reply
Always go for the lower grade problem-free coins on key dates. With Morgans, it should be much easier to find choice lower-grade examples. For example: if you're looking for an 89 CC, look at sold auction archives to find the grading range you can afford. Then spend the next six months looking for the coin in that range with superior eye appeal. You will pay more for the choice examples so save up some extra $$$ and be prepared to pay up. There's nothing wrong with paying extra for eye appeal.
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.
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 Posted 09/04/2018  9:45 pm  Show Profile   Bookmark this reply Add kanga to your friends list Get a Link to this Reply

Quote:
I concur that a worn specimen of a key date is preferable to a damaged one

I agree.
That's certainly a consideration in getting a key/semi-key.
But sometimes:
1) even a worn coin is too expensive, or
2) even a worn coin is too rare or scarce which also generally involves being too expensive.
Describe it as if there were no picture.
Picture it as if there were no description.
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United States
29 Posts
 Posted 09/04/2018  9:49 pm  Show Profile   Bookmark this reply Add Stewillard to your friends list Get a Link to this Reply

Quote:
Always go for the lower grade problem-free coins on key dates. With Morgans, it should be much easier to find choice lower-grade examples. For example: if you're looking for an 89 CC, look at sold auction archives to find the grading range you can afford. Then spend the next six months looking for the coin in that range with superior eye appeal. You will pay more for the choice examples so save up some extra $$$ and be prepared to pay up. There's nothing wrong with paying extra for eye appeal.



It sounds like a plan!

Thank you all.

Bill
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