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 Replies: 18 / Views: 3,211 |
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Valued Member
United States
74 Posts |
I went to a coin shop looking for a type set album. They didn't have any but I couldn't help but look around... I didn't really plan on buying coins but it's hard to resist the temptation when you're right around them :P Here's some scans of the coins (obverse and reverse). Let me know what you think would be a fair price and I'll reveal what I paid after a few opinions. I'm veeerrry "uncultured" when it comes to classic coins  Thanks guys!  Edited by vince220
06/21/2012 4:44 pm
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Bedrock of the Community
United States
36724 Posts |
Nice AU 84-O Morgan, might even be an MS but can't tell for sure from the photo. I'd retail this one for $35. Looks like a G-VG Indian cent, about $1-1.25 retail, Buffalo looks a bit worn, probably an AG worth about .50-.75. |
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Valued Member
United States
408 Posts |
I would agree. $35.00 to $40.00.
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Pillar of the Community
United States
3234 Posts |
$35 would be high retail I think.
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Bedrock of the Community
United States
20753 Posts |
To late now to worry about those being a good deal or not. If your happy with your purchase, that is more important than the price.
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Pillar of the Community
United States
2661 Posts |
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Valued Member
 United States
74 Posts |
Justcarl: That's a good point. I just felt like I paid waaaay too much considering spot prices on silver put the Morgan at only $20. Anyways, the buffalo was $1.75. I knew I over paid that, but it was my first Buffalo and this was the best they had without going up big bucks. The IHC was $1 (also my first). I'm pretty satisfied with that purchase. The Morgan was $30 which I thought was overpriced considering it's melt value is $20, but I guess it's in better condition than I had initially recognized. I do feel a lot better about the purchase ($32.75 overall). The Buffalo price is bothering me a bit... It's only a dollar "wasted" and I knew it was overpriced so it probably shouldn't bother me, but I get a little obsessive sometimes  Anyways, I just now found out that they don't tax on coin purchases which is good cause the 10% sales tax would've cost me $3. I guess that tax money went towards the IHC and Buffalo instead lol  Edited by vince220
06/21/2012 6:32 pm
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Pillar of the Community
United States
2077 Posts |
Maybe on the next Buffalo you'll get a better deal. You know what they say: "Take care of the dollars, and the nickels will take care of themselves"
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Pillar of the Community
United States
2150 Posts |
If your having buyers remorse on overspending a couple bucks then your not doing too bad. It's the multiple hundreds of dollar purchases that I keep harping on.
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Pillar of the Community
United States
2077 Posts |
I agree. Just think how much your house has lost in value and that dollar won't seem that important.
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Valued Member
United States
279 Posts |
I would be happy with the overall purchase. Like others have said, the buffalo was a bit much. I can't seem to get rid of partial date buffalos like that for $.99 shipped. But that beautiful Morgan more than makes up for it!
Nice purchase.
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Bedrock of the Community
United States
36724 Posts |
vince, look at it this way, you paid 32.75 tax free for a nice AU pre-1904 Morgan worth 35.00, a good deal. The Indian cent and Buffalo were free. Does that make it feel better? |
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Pillar of the Community
United States
4989 Posts |
Remember that the coin shop owner needs to pay a hefty lease every month as well as incur costs for security, insurance, etc....
Much of what keeps them in business is selling 50 cent wholesale coins for a buck or two. I see that as WIN/WIN. New collectors get to browse through a ton of inventory and get a coin for coffee-money that engages them with the hobby. The owner makes enough profit to cover his expenses and possibly even make a living.
What upsets me is when a coin shop retails a $3000 coin for $10,000. Now *that* is highway robbery !
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Pillar of the Community
United States
1770 Posts |
you did ok maybe could have gotten the morgan for 5 bucks less, but the next time you go back there maybe you can score a few better deals
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Valued Member
United States
74 Posts |
Thanks guys! I'm starting to feel really good about the purchase. Their circulated selection was limited to a handful of Buffalos, IHC's, and Morgans. They said if I called a day or two in advance, they would be able to get some more specialized (to what I'm looking for) coins. I'll definitely try that next time. Also, it was my first time. The sales person was very friendly so I'll probably get better deals too as I become regular. |
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Valued Member
United States
154 Posts |
I'm sure we've all regretted a purchase or two, like Jokingjoker said, it's big mistakes that hurt more, so better to learn your lesson on something small. Oh, and OldSkoolMadSkilz, your line about house values cracked me up  I liked the dollars and nickels line too, I've never heard that one. I like 'penny wise, pound foolish' myself, which I think goes along with the general theme of this thread. That might make a good thread: expressions that involve money in some way, I'm sure there's a ton. |
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Replies: 18 / Views: 3,211 |
Posted 06/21/2012 5:15 pm
