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 Replies: 23 / Views: 2,899 |
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Valued Member
United States
140 Posts |
Hi! I'm new to the forum (this is my first Topic) and wanted to get some unbiased opinions about something that I'm contemplating. My favorite coin is by far the Morgan dollar. I recently found this 1897 PR67 Cameo $1 on ebay and fell in love! (link below) Now, I don't have the cash to buy the coin, but I have the gold to. I was thinking about trading some gold coins for it, but I just thought I'd get everyone else's thoughts. The coins I have: 1895 $20 Double Eagle (Raw) 1908 $20 No Motto St. Gaudens (Raw) 1908 $20 No MOtto St. Gaudens (NGC MS64) 1924 $20 St. Gaudens (Raw) 1924 $20 St. Gaudens (Raw) 1993 $50 American Eagle 1oz Gold 2003 $50 American Eagle 1oz Gold 2003 $50 American Eagle 1oz Gold 2003 $50 American Eagle 1oz Gold To trade for: http://cgi.ebay.com/ws/eBayISAPI.dl...170783180961So, what do you think? |
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Pillar of the Community
United States
1150 Posts |
 You kind of remind me of another newer member here who has a GORGEOUS collection of toned Morgans. Someone made a comment that he made quite a "...splash into the forum pool." I think you've done the same and I look forward to seeing some pictures of your collection. As far as that Morgan goes, you could make a reasonable offer that is less than the asking price and possibly save one of your gold pieces. The only issue for me is that I firmly believe gold has a much bigger upside financially, however my collector side would most definitely trade up to that gorgeous proof Morgan. All things being equal, if you can afford to drop 13 grand on a Morgan then you probably don't have to worry about the price of gold. I would do it. Edited by mitchhailey
02/20/2012 2:13 pm
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Valued Member
 United States
140 Posts |
Thank you! I'm trying to figure out how people on here take such stunning pictures of their coins so I could post a few in the Topic that's asking everyone to show off new purchases. I just can't figure it out haha, but as far as the gold coins go, that's about half my investments in both precious metals and numismatic value. That Morgan is just so stunning to me, and I can't stop looking at it! I'm sure it will, but in the future it's hard to tell if it will hold that value. That's why I'm so torn!
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Bedrock of the Community
United States
14454 Posts |
I agree, I would contact David Lawrence or his staff through his website http://www.davidlawrence.com and see what they are willing to do. I have made offers and done trades with them in the past and have always been pleased with their professionalism and the way they treat their customers. They usually will take less from an offer than they have any coin listed. I just checked and they also have it on their auction on their site http://www.davidlawrence.com/invent...lotid/955993 |
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Pillar of the Community
United States
1150 Posts |
I wouldn't worry about a proof Morgan holding its value. I think that is essentially a given. I would do what Bryan said and give 'em a holler. They are a very reputable outfit and, like Bryan, I've never had anything but great experiences with them. You can definitely come to some sort of mutually beneficial agreement.
As far as the pictures go, I'm in the same boat as you. There are all kinds of threads on here about how to take great photos of coins so I would search those out and do your homework. From what I gather lighting is the biggest factor in taking excellent photos! Lucky for you there are already awesome pics of the proof if you decide to pull the trigger on it.
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Valued Member
United States
140 Posts |
Okay, so I did it. I called them up and the first thing I would like to say is: WOW! Their professionalism is unbelievable! They make you feel important even if a trade isn't possible.
Second, I talked to him and he already knocked off some money and he said he is going to list the item as sold, which he has already followed up on. I'm to send the coins as soon as possible and he guaranteed me a phone call either the day of or the day after they receive them.
Right now, I am so excited, words just can't express it. Thank you guys for your help!
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Pillar of the Community
United States
3276 Posts |
Very excited for you! Let us know how it all goes. There's nothing better than getting a dream coin!
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Bedrock of the Community
United States
20753 Posts |
A little late but Anyway. |
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Pillar of the Community
United States
3540 Posts |
I am definitely going against the grain on this one.
There is no doubt the seller has some, if not nearly ALL, nice items being sold. In my opinion, the trick to the numismatic investment game, try to buy the item BEFORE it reaches the hands of these high end dealers. Don't get caught up in paying more for something that can be purchased elsewhere.
I do not believe I would give up that gold for that proof. There is NO upside in that proof. Actually priced a touch higher than numismedia lists as a price (numismedia is just a guide....as all of them are).
That proof is in an NGC holder and only graded as a cameo, NOT a deep cameo. Not in the top graded population of NGC either. Don't know if it would cross to PR67 at PCGS.
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Valued Member
United States
140 Posts |
Now that kind of makes me weary. My intentions were to probably have it cross over to PCGS - same grade. It was always my understanding that NGC was a slightly tougher grader, so if that's true, wouldn't it cross over just the same?
Looking at PF66 1897 $1, it's roughly half the price. That's a lot of money.
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Pillar of the Community
United States
3755 Posts |
First, who cares if it crosses to PCGS? Their grade is no better than anyone else. If it was so blasted good then how would a service like CAC be successful? For that matter, why would anyone NEED a service like CAC? IMO leave it be.
As for the trade, I would do it in a heartbeat. That is a beautiful coin.
And there is plenty of upside. Snagging a coin like that before it gets to a high end dealer...OK, where do you have a your horseshoe implanted? I mean of course, if you happen to be walking through a field of 4 leaf clovers and find a beauty like that at a significantly lower price than value, then of course, you grab it if you can. But to say something like that could be easily aquired under other circumstances is not realistic.
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Pillar of the Community
United States
9792 Posts |
Nice Proof dollar, I doubt it would upgrade in a PCGS slab, the coin has just a touch too much haze to make 68, it will either be a 66+ or stay at 67 if PCGS grades it, IMO. Probably a no brainer for a CAC sticker. I'm guessing it went for around $8.5-10K wholesale before David Lawrence purchased it.
Edit: Just did a quick search and saw this coin was from the Heritage Signature auction in October 2011 Lot #4317 sold for $9775 including the juice. There were 6 bidders on it.
"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/140440Edited by westcoin
02/21/2012 05:16 am
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Pillar of the Community
United States
3540 Posts |
westcoin - exactly my point. $3275 premium because of who is selling this coin now? It DOES matter what TPG holder it is in. I doubt the coin will cross from one to the other. If you are buying a high dollar slabbed coin, it DOES matter which TPG slab it is in. As I pointed out earlier, a PR67 NGC coin does NOT bring the same money as a PCGS PR67 or PR67DC grade. |
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Pillar of the Community
United States
9792 Posts |
 A PCGS coin in the same grade will bring a better price most likely. But I don't think this one will cross over any higher. Heritage has only handled 9 Morgans in PR68 or PR69 the price will go up considerably in those grades, by multiples of 6-10 times. a coin that is PR66 will be half the price of the PR67, so essentially you are buying an opinion of a TPG on this coin. If it was me I'd get an account set up with Heritage, Stacks, etc. and wait for a major collection that has one you like, and try to buy it that way, or go through someone like Julian Leidman, he is an excellent broker at an auction, that will bid in your best interest, and keep the price down as much as possible. But to pay that much of a premium so close to when it last sold in a depressed economy? I don't know if that is such a great idea. Don't get me wrong, I really like the coin, and David Lawrence is a top notch dealer, I just hate to spend money I don't have to. "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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Bedrock of the Community
United States
10982 Posts |
Quote:
Edit: Just did a quick search and saw this coin was from the Heritage Signature auction in October 2011 Lot #4317 sold for $9775 including the juice. There were 6 bidders on it.
EDIT: That was re-holdered. My mistake. Another edit: I wonder if DLRC had this piece run through NCS to have some haze removed from the fields? The coin in the prong holder looks to have cleaner fields the the Heritage auction photos. If DLRC knocked 10% off the asking price then I think you did well. I've thought about doing something like this trade in the past but never pulled the trigger. Best of luck! Edited by BH1964
02/21/2012 11:20 pm
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Rest in Peace
United States
9104 Posts |
, cjtm92! |
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Replies: 23 / Views: 2,899 |
Posted 02/20/2012 2:37 pm
