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Morgan Dollar Purchase Help

 
 
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New Member
United States
45 Posts
 Posted 08/05/2019  11:13 am Show Profile   Bookmark this topic Add jcd390 to your friends list Get a Link to this Message
Okay so I am just now getting into Morgan dollars and I have a quick question. If you had roughly $500 to spend on purchasing your first couple of Morgan dollars would you:

1.) Purchase as many as you can from you local shop for $17 that range from G to XF buying as many of the XF as you can find?

2.) Purchase as many BU coins online as you can?

3.) Purchase one or two of the most expensive BU coins as you can afford?

Just to let you know I am just now getting into Morgans as I love the uniqueness and availability of the type. I currently don't have any my collecting but my goal is to eventually collect as many VAMs as I can that I find most intriguing as well any that I find appealing to my eye.

Thanks for you help in advance and all advice is welcome!!
Bedrock of the Community
United States
30351 Posts
 Posted 08/05/2019  11:18 am  Show Profile   Bookmark this reply Add John1 to your friends list Get a Link to this Reply
Buy semi-key and key dates.
John1
( I'm no pro, it's just my humble opinion )
Searched 5+ Million Cents Since 1971
Pillar of the Community
United States
2398 Posts
 Posted 08/05/2019  11:29 am  Show Profile   Bookmark this reply Add jerryc39 to your friends list Get a Link to this Reply
hard to buy a key date such as 1893S for $500
Pillar of the Community
Canada
2850 Posts
 Posted 08/05/2019  12:13 pm  Show Profile   Bookmark this reply Add oriole to your friends list Get a Link to this Reply
@jcd390, I am not convinced that our answers will help as it depends on what you value and your future plans for the Morgans.

Personally since I like the type and the heft of having a lot of silver dollars, I would go for option 1, although I would avoid G grade unless they they were a scarce date.

This is just my personal preference-I am not saying that anyone should do it. Of course there is no chance of these appreciating beyond silver price though.

I would definitely not recommend that you go this route if you think that eventually you would want to upgrade all to BU.
Pillar of the Community
United States
4722 Posts
 Posted 08/05/2019  12:29 pm  Show Profile   Bookmark this reply Add westernsky to your friends list Get a Link to this Reply
Buy the best coin you can for 500$. I'd go for a 1878-CC with eye appeal. 1st year, better mint and usually comes well struck. Also easily sold and a very popular coin.

Good luck!

Pillar of the Community
United States
2093 Posts
 Posted 08/05/2019  12:48 pm  Show Profile   Bookmark this reply Add Greasy Fingers to your friends list Get a Link to this Reply
Why not have two budgets...plans #2 and #3..my saying is the more coins the better with high grades
Bedrock of the Community
Learn More...
United States
42673 Posts
 Posted 08/05/2019  12:49 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
First, take your time and visit shops and shows. Decide what appeals to you. Leave your checkbook at home for awhile.
Pillar of the Community
United States
2429 Posts
 Posted 08/05/2019  1:29 pm  Show Profile   Bookmark this reply Add Slider23 to your friends list Get a Link to this Reply
Buy a couple conditional rare PL ( near DMPL) MS64 Morgans in a PCGS or NGC holder. Stay away from these common dates 79 S, 80 S, 81 S, 83 O 84 O although the 79 S has some wonderful examples.
Pillar of the Community
United States
860 Posts
 Posted 08/05/2019  6:00 pm  Show Profile   Bookmark this reply Add Jon Brand to your friends list Get a Link to this Reply
Buy one nice one. Maybe try to find an 1889S in MS64. Thats what I did with one of my last morgans for that kind of money.
View Collection: jbknifeandcoin.com
Pillar of the Community
United States
549 Posts
 Posted 08/08/2019  9:14 pm  Show Profile   Bookmark this reply Add Ballyhoo to your friends list Get a Link to this Reply
From personal experience, if you are looking for a complete set minus one or two extremely rare a high dollar key dates, decide on a realistic look based on what you could spend per coin down the road. Once you've determined that, buy the key/semi-keys falling in your price range since putting them off will mean paying more in the future. Buy them when you can. In the end you'll have a consistent set to be proud of. Otherwise, like many collectors, you'll lose interest quickly if those are all that's left to complete the series. Just my thoughts.

Welcome to the forum, glad you're here!
Valued Member
United States
268 Posts
 Posted 08/08/2019  9:57 pm  Show Profile   Check collectinsince65's eBay Listings Bookmark this reply Add collectinsince65 to your friends list Get a Link to this Reply
Like others have said evaluate your end goal.
If as you mentioned if it is collecting VAM's then join the VAM World 2.0 forum.
It's free
Then study the different varieties that are available to all who search

Mike
Edited by collectinsince65
08/08/2019 9:57 pm
Bedrock of the Community
United States
15985 Posts
 Posted 08/09/2019  09:03 am  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply
If your goal is to acquire as many VAM's as possible, then I would say learn as much as you can about attributing them and go to as many coins and shows as possible looking at AU's and attributing them. You get decent looking coin, nothing spectacular, and your $500 will go a lot further. Don't expect a lot of monetary appreciation, but you'll have a lot of fun and more nice coins. After all that is what a HOBBY is about.
Gary Schmidt
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