Getting Ripped Off Trying To Buy Morgans

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Author	Replies: 5 / Views: 1,868
ludwigdrew1956 New Member United States 7 Posts	Posted 04/02/2014 12:21 am Thanks to those who welcomed me to this forum. Ready to get to the hard facts. There is a store here in town. They have tons of Morgans in stock from 1878 seven and eight tail feathers on up. I have researched these coins for awhile and I know your average Morgan with high mintage will start at about 29 dollars for good coins and go up from there. This shop likes to add two to three dollars on top of each price when they try to sell to me. Is there a way to bargain with them or should I just walk away ? Thanks. Report this Post to the Staff

Jayman931 Pillar of the Community United States 2651 Posts	Posted 04/02/2014 12:32 am The grade has everything to do with the price... Report this Post to the Staff
zxcccxz Pillar of the Community Canada 5417 Posts	Posted 04/02/2014 12:50 am To start with $29 for a baseline common date morgan is an ebay price! Not a coin shop price. I live in Canada and pay about $21 for Morgan dollars at my local coin shop. Finding Morgan's in Scrap Bins is fairly rare around here, kinda how we get most 1960's Silver halves and dollars in AU/BU for scrap and you guys have to pay a premium. Last month I picked up a 1890-P that CCF graded AU-55 for $21. Before that I picked up a 1884-O in AU-50 for the same price. If those guys are asking $33-$34 for basil common dates don't even bother bargaining with them because here's no way they will get down to a reasonable price which should be about $25. Edited by zxcccxz 04/02/2014 12:53 am Report this Post to the Staff
Collector-Corner Pillar of the Community 872 Posts	Posted 04/02/2014 12:52 am he may be trying to recoup some of his cost if he buys them in bulk from a major distributor. Some of the major places will add a fee per ounce of silver. You can see that practice at about every major precious metal dealer. As long as they weigh correctly, aren't attracted to a magnet and if they are BU in grade- show that cart wheel effect, a few bucks is worth it. You get to see the coin in hand, get NO surprises and NOT have to pay for shipping and wait times..... Ask him if he uses the "GREYSHEET", its the Coin dealer newsletter that's now available on line. Having a copy of that in hand when you go in will let him know, that you know the typical prices that should be paid for the Morgans. Again, if you look up coin dealer newsletter, and then look on that site for the greysheet, it may help. A copy available on line should be less than 5 bucks Edited by Collector-Corner 04/02/2014 01:02 am Report this Post to the Staff
coop Bedrock of the Community United States 62064 Posts	Posted 04/02/2014 01:29 am Depending on mint mark/years some are better than others. Always nice to get a BU for scrap price. Just learn what the key dates are and check to see if any of them are there. 25 Report this Post to the Staff
7TF Pillar of the Community 743 Posts	Posted 04/02/2014 04:40 am I would suggest looking at VAMs. If you learn how to attribute them you could go into the store and cherry pick them. The price he is asking is most likely fair. Grade has everything to do with the price but I am guessing anything he has out for sale is likely well circulated and possibly cleaned. Make sure and do some research on how to grade and know when a coin has been cleaned. Also make sure you can spot a fake. Check out the VAM part of this forum and http://www.VAMworld.com for info on VAMs. Every Morgan and Peace dollar is a VAM. Some of them can be quite valuable and many dealers don't know or care about them. Report this Post to the Staff
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