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 Replies: 14 / Views: 2,721 |
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New Member
United States
40 Posts |
Hello all,
I have a question and would like to hear your opinions on it. The choice is which coin to buy from a trusted source without seeing it first . The two coins are the same price. Do you buy a random (1878-1904) year BU Morgan or a random (1878-1904) year PCGS MS62 slabbed Morgan?
Thanks Edited by Hop Devil
06/01/2014 2:06 pm
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Moderator
 United States
15432 Posts |
I have never purchased a coin sight-unseen ... not sure that it would meet my specific needs.
Your needs might be different ... the answer to your question is based on your collecting desires.
What are your objectives with the coin?
David
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New Member
 United States
40 Posts |
I am still unsure. I am new to collecting coins. I would consider myself as a collector with the added bonus of it being a possible investment for the future. I have so far bought a few old coins Morgan and Peace dollars to start my collection. I bought both in BU condition. I am fully immersed in many aspects of coin collecting. I search rolls for errors, silver and quality. I read old issues of Coin World and this forum daily. I haven't decided to collect any specific coin. Is there going to be much of a difference between a BU coin and a graded MS62? I assume the quality of both coins equal with the graded coin having the extra value of the grading charge already paid. |
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Moderator
United States
23522 Posts |
Quote:
Is there going to be much of a difference between a BU coin and a graded MS62? I don't know - how much do you trust the dealer at his word that it's BU? Just because they say it is, doesn't mean it's true. If you're a good-enough grader to make that AU-BU determination yourself (possibly the most difficult task in numismatics), and the dealer has a return policy, I would think your number of MS62 to be a pretty reasonable goal for a random "BU" coin. And don't forget, dealers have to be jacks of all trades. You cannot expect them to be an expert in the series of your interest, unless they're known for that specific series. |
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Bedrock of the Community
United States
10982 Posts |
Assuming the price and all else is equal? Hands down you take the PCGS MS62. Always insure you have a return privilege and try to get pics in advance would be better advice.
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Pillar of the Community
United States
2373 Posts |
 take the human element out of the equation. nlp |
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Moderator
United States
23522 Posts |
Quote:
Assuming the price and all else is equal? Hands down you take the PCGS MS62. Always insure you have a return privilege and try to get pics in advance would be better advice.
Yeah, that, too - I was going on the assumption that the raw coin would be considerably cheaper than the slabbed one. |
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New Member
United States
40 Posts |
SsuperDdave - I don't know the visual difference between an AU or BU. I suppose I should buy an AU coin from the same dealer since there is a $10 difference between the 2. I have gotten 2 BU coins from them. They both have great detail and don't appear to be cleaned or polished to look better. They do have scratches(bag marks) but the luster is there. The 2 coins are the same price because the dealer( APMEX ) has the MS62 as part of a sales blitz that could end at any time. I just noticed it today. |
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Pillar of the Community
Canada
5417 Posts |
If the price was equal, I'd definitely stick to the PCGS MS-62. BU should mean MS-63 or more but most morgans have been cherrypicked, low chance that you'll get a higher than 63 coin in there. Best not to take a chance.
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Valued Member
United States
291 Posts |
Something else to consider is the price of grading if you ultimately envision yourself sending the coins to a TPG at some point in the future. I agree with @ zxccxz that if you are buying from a large dealer, they have most likely cherrypicked the best examples for grading themselves. |
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Pillar of the Community
United States
1531 Posts |
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New Member
United States
40 Posts |
Cruisinfusion - Yeah I think APMEX is a good company. I have made several purchases from them in the last 2 months and I have been happy with everything. They have good prices for BU 90% silver and they actually have those items in stock. I have searched other sites and they all seem to be out of stock of all they BU items. Thanks everyone for the info. I was thinking that most BU wouldn't grade much higher that MS62. I just didn't know for sure. Edited by Hop Devil
06/01/2014 9:09 pm
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Pillar of the Community
United States
9792 Posts |
I wouldn't call MS62 graded Morgans an investment coin. Unless maybe they were really nice MS62 of the tougher date/MM combinations, like: 1893-S, 1889-CC, 1879-CC, 1883-S, 1886-O, 1884-S, 1892-S, 1892-CC, 1892-O , 1894-O, 1895-S, 1896-O, 1896-S, 1897-O, 1901-P, 1901-S, 1903-S and a few of the TOP VAMs in MS62. When looking at investment coins, you should keep in mind what coins in the lower and next grade pricing brackets are at, i.e. using PCGS Marketplace: 1896-S MS61 $2000, MS62 $3100, MS63 $3900 - a really big difference between a low end MS61 and an average MS62 in value. A top end MS62 to a average MS63 would not be anywhere near as much jump in pricing. Common date dollars FMV in low MS grades can be historically priced graphed at numismedia.com here is an example 1881-S http://www.numismedia.com/cgi-bin/c...de2=pricesms Just click on any coin you want to graph in the left hand side of the FMV page to get this feature. Quite handy to see price variations and trends over a time line. "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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Valued Member
United States
453 Posts |
Seems to me if it was a rare mint mark or date they probably would have gotten it graded themselves. I would take the safe bet and get the graded one. Judging by your description of yourself you and I are at about the same level in the Coin World so more experienced voices should carry more weight but I just wanted to give an opinion. |
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New Member
United States
13 Posts |
Even though APMEX is a reputable dealer I would search around for a better deal if you only intend to collect for future purposes in profit prospective there are many places that would sell you these common morgans in ms62 for same or much better price. Also in coins quality is more profitable than quantity I'm not sure how much money you are trying to invest but if it is a large sum your best bet would be to get a NGC/PCGS box and fill it with high grade key dates as the price of these coins can only go in one direction silver rounds and common morgan/peace dollars can depreciate. Just food for thought. |
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Replies: 14 / Views: 2,721 |
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Posted 06/01/2014 4:52 pm
