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 Replies: 15 / Views: 1,700 |
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Pillar of the Community
917 Posts |
Whats your experience with buying BU morgans from APMEX? On their site it states you will receive one ranging from MS60-MS63. Some of them would be a bargain if they were closer to that 63 mark. Are their BU morgans generally decent, or should I run like the wind? |
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Valued Member
United States
403 Posts |
don't really know much about them, may be alright however I would say this since it is always good advice,
caveat emptor
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Pillar of the Community
 917 Posts |
Thats why I'm here asking  |
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Rest in Peace
United States
10625 Posts |
I never purchase any thing from a stock photo let alone something like this. I would be interested to hear from someone who has gambled on this.
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Valued Member
United States
331 Posts |
I have bought from them before. But it was for a specific coin. I was happy. But there again it was not a coin that had a varying range.
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Pillar of the Community
United States
759 Posts |
I would say that their business model certainly is not to sell eye appealing MS-63 coins at less than MS-63 prices. No personal experience though. If their return policy allows for returns, it's basically a gamble with 2 way shipping being your potential loss. Let us know how it turns out if you go for it.
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Pillar of the Community
United States
5850 Posts |
I've bought from them before, with mixed results. One "BU" 1878-CC Morgan dollar I bought was later graded by ANACS as MS62, which was better than I thought it would do, and a "BU" 1972 Type II Eisenhower dollar was graded as MS63, which was even better. On the other hand, a 1921 Peace dollar that was advertised as "BU" came back from ANACS graded as "AU58 (Details-Cleaned)," which was a crushing disappointment considering how much I paid. Sadly, I waited nearly a year before having it graded, so there wasn't much recourse. The last "BU" Morgan dollar I bought from APMEX was already graded (as MS64 DMPL) by PCGS. It cost a lot more to buy a graded coin, but the peace of mind was worth it. |
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Pillar of the Community
United States
613 Posts |
They know coins as well as you do. When someone gives you a range of quality for a specified price, you'll likely get the lowest promised quality
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Bedrock of the Community
13014 Posts |
For the most part the coins they sell like that are going to be the ones they didnt feel was worth having graded. They grade a lot of stuff and pick through their stuff before listing it, whatevers left raw is the left overs they didnt feel made the cut. They can still make bad choices and you can make out better from one they missed from time to time but for the most part youre going to get the low end of the grade and the left overs.
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Rest in Peace
United States
4078 Posts |
Just to add, shipping is expensive. You also need to buy a certain amount to get the best deal.
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Pillar of the Community
917 Posts |
Well I have decided not to get any morgans from APMEX. I pretty much figured they would be picked over but had to ask anyways. I decided to get a 5oz ATB Perry victory, and a 2013 ASE proof from the mint. |
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Valued Member
United States
477 Posts |
Before silver tanked I was getting BU and near BU Morgs from my local bullion dealer for $31 and he had several tubes to pick through. I probably bought 20 of the best ones I saw but when the price dropped they sold out of everything.
Rick
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Pillar of the Community
United States
1211 Posts |
Just curious why people would buy a coin from APMEX and then have it graded? |
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Pillar of the Community
United States
5850 Posts |
Quote:Just curious why people would buy a coin from APMEX and then have it graded? Speaking just for myself, I attended a coin show where ANACS was setting up a booth with an offer where you could get coins graded by them for something like $10 apiece and could submit them at the show instead of having to send them in the mail. So I decided to bring a few coins I had purchased from APMEX that weren't part of my 7070 album and that I wouldn't mind having slabbed. I was also just curious whether APMEX was right when they claimed their "BU" coins would grade MS60-63. |
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Bedrock of the Community
United States
20753 Posts |
I realize it is not always possible for everyone to go to coin shows, but if at all possible, do that instead of purchasing anything via mail. You get to see exactly what your buying. No postage, handling, insuraches, etc.
So many people seam to forget how much something costs via mail if you pay for that postage stuff.
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Bedrock of the Community
13014 Posts |
Quote:
So many people seam to forget how much something costs via mail if you pay for that postage stuff. A lot depends on whats actual available in your area and the cost of living there. Even with postage I can find most things cheaper online especially with some patience on ebay. There are shops I will visit and a couple dealers at the local shows, but I get more things online than I do off line. If you dont live near a David Lawrence type store not many places can compete with the wide selection online especially if you collect more of a niche item. |
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Replies: 15 / Views: 1,700 |
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Posted 07/30/2013 1:08 pm
