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 Replies: 25 / Views: 2,918 |
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New Member
30 Posts |
Ok, so I'm looking to start a Morgan dollar collection, all dates and mint marks, highest grades possible (as long as I can afford them of course). Where do I start? I'm leery of buying raw coins due to Chinese fakes, but slabbed coins will no doubt be very expensive. Any thoughts/ideas? |
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Pillar of the Community
United States
745 Posts |
Morgan dollar collection in all dates and mint marks, highest grades possible.... did you hit the lottery? sounds like it will take many $$ to make this set.
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Pillar of the Community
United States
1510 Posts |
wow that is alot--I can see a year set--thats a little bit more do-able--Good Luck
Retired USAF 1983-2003
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Pillar of the Community
Canada
4944 Posts |
Might be difficult to get the highest graded coins. Here the highest graded business strike 1893-S Morgan. http://coins.ha.com/c/item.zx?saleN...8&lotNo=7332If you don't have a Heritage Account, the coin sold for $546,250.00 including the Buyer's Premium. |
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Valued Member
United States
232 Posts |
Well if I were you I would be a ebay hawk, and or visiting all coin shops in your area. Gotta be patient or you will end up over paying. |
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Moderator
 United States
23522 Posts |
Hmmm. That'll be 96 coins, 95 if you don't include the 1985 Proof. If you want to do the whole set in Mint State, budget something north of $100,000 for the 1893-S alone, and another $100,000 for the pair of 1892-S and 1895-O. There are quite a few other examples which will cost you large 4-figure numbers in Uncirculated condition. I'm....guessing your budget isn't going to cover this.  So, we're talking circulated coins. For many, you'll be able to find respectable examples for $50 or less, and the vast majority for less than $100. At this price level, slabbing is not imperative but purchasing from places you trust is. Learning to properly evaluate ebay sellers is a plus - there are many reputable people selling there, and bargains to be had. We regularly discuss good places to buy here in the forum; it's a popular thread subject and they appear regularly. Mind you, 1893-S is still a stopper - if you can see the date and mint mark at all, it's still a $1500 coin. |
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Pillar of the Community
United States
3546 Posts |
Hello,
Since your are searching for 'higher' grade Morgans I would suggest become especially diligent in your counterfeiting detection skills.
Some tools of trade would be a calibrated digital scale, a very strong magnet, and an astute understanding of what features constitute a counterfeit Morgan even when it has the correct weight and does not stick to a magnet.
Many Chinese counterfeit designs can look just as good as authentic US-produced Morgans.
IF you want to delve into this particular issue to a greater extent, I would be happy to provide you with some very helpful and informative URLs for reference.
good luck,
mdpmedia
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Rest in Peace
United States
9104 Posts |
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a very strong magnet, As in rare earth, not steel. Ask your local computer repair place if they have some they took out of a hard drive. |
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Pillar of the Community
United States
4416 Posts |
I humbly suggest starting with a year set, one of each year from any mint. Shoot for VF or better. That's a doable set in a reasonable amount of time. Then, as time passes, you can build on that. There are albums for year sets, so you'll have something to show for your effort in progress. Take your time, network with other collectors and dealers, buy or borrow books to study varieties, grading, etc. .... Enjoy!
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Rest in Peace
United States
10625 Posts |
The first thing you want to purchase, in my opinion, is the Morgan dollar Red Book by Q David Bowers. It will give you tons of insight on what to look for and what to stay away from. After you read this I suggest you start with the commons and look for MS63/ MS64 examples. The early San Fran mint Morgans are a good place to get your feet wet and bearings straight. Well struck examples abound. After that study the Red Book. |
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Pillar of the Community
United States
1432 Posts |
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I humbly suggest starting with a year set, one of each year from any mint  Everybody has given great advice & I agree with ExoGuy. Dansco makes a nice year album that also requires one of each mintmark. A higher grade set like that would be a great start. |
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Pillar of the Community
United States
1510 Posts |
those red books are great--i have 2 penny ones
Retired USAF 1983-2003
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New Member
 30 Posts |
Wow! Thanks for the great advice everyone! I knew many of the coins would be expensive, but I had no idea some of them would cost that much! I doubt I'll be able to pay more than $100 per coin maximum, maybe up to $200 for special occasions (e.g. a christmas/birthday present to myself). Of course, I've been spoiled finding some older coins at face from crh'ing, and maybe I deluded myself into thinking I could pick up a few good quality Morgans cheaply as well. I'll start with common dates and mint marks and see what happens. Thanks!
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Valued Member
United States
110 Posts |
The fun in collecting Morgans is in the Hunt. You can find them at dealers, The We buy Gold stores, flea Markets, Gun Shows, craigslist, and yes ebay. Just be carful and learn as much as you can about grading, fakes, and pricing. Knowledge is your only friend when it comes to morgans. |
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Bedrock of the Community
United States
20753 Posts |
You should really find coin shows and/or coin clubs. And get to really know fakes since that is one of the biggest counterfeited coins on Earth.
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Pillar of the Community
United States
9792 Posts |
Well you could always concentrate on one single year and mint mark, collecting all known die varieties (VAMs), my buddy just finished his 1878-P 7 tail feather set. You'll become an expert in that date guaranteed!
A complete set of Morgans would be tough today, not to mention expensive, if you go for higher grade coins, you'll want to purchase Slabbed certified coins to be sure of grade and authenticity.
"Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013! ANA Life Member #3288 in good standing since 1981, ANS, Early American Coppers Member (EAC), Colonial Coin Collectors Club member (C4), Conder Token Collector Club member (CTCC), Civil War Token Society (CWTS) member, Liberty Seated Collectors Club (LSCC) & Numismatic Bibliomania Society member (NBS), USMex, Member in good standing, 2¢ variety collector. See my want page: http://goccf.com/t/140440 |
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Replies: 25 / Views: 2,918 |
Posted 01/23/2012 10:52 pm
