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 Replies: 44 / Views: 5,425 |
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Pillar of the Community
United States
1189 Posts |
recently I've been tempted to pick up some US silver dollars (mostly morgan but also peace). From what I've read a lot are counterfeits. I'm also a skeptic of getting cleaned ones because many of the auctions I see they look scratched. I don't have a LCS so ebay is really my only choice. Is it best to just buy these already graded to know they are real? Those can just so much more expensive! |
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Moderator
 United States
14463 Posts |
There are several coin stores online. You should take a look  |
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Pillar of the Community
United States
7375 Posts |
It depends on what kind of silver dollars you are talking about. Lower grade common ones are readily available raw on ebay. With a little practice and experience you can pick them up fairly cheap and not expose yourself too much. But if you are talking about less common higher grade stuff then you are probably better off buying them slabbed. Slabbed Morgan dollars are in fairly high demand, so they aren't cheap. Peace dollars are a bit better opportunity imo. Also with a little experience you should be able to buy some raw unc silver dollars and not get burned. Just jump in and get your feet wet on a low dollar coin, you will learn quickly |
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Moderator
United States
14463 Posts |
partial list I posted before:
www.coastcoin.com
www.northeastcoin.com
www.centercoin.com
www.cybercoins.net
www.jakesmp.net
www.littletoncoin.com
www.coinsonline.com
www.collectons.com
www.coinland.com
www.coinstoreonline.com
www.usmint.gov
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Valued Member
109 Posts |
*** Edited by Staff - Please review the rules that you agreed to when you registered. ***
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CCF Sponsor
United States
702 Posts |
What is your collecting motivation? Silver bullion? Or an actual collection of numismatic coins?
(Nothing wrong with either; there are different strategies for each.)
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Pillar of the Community
United States
1309 Posts |
It's definitely a scary world we live in nowadays, with the fakes becoming increasingly harder to detect. I scale most every silver dollar I purchase, unless it's from a little old lady from Pasadena. I hate acid testing. I've grown very leery of buying silver dollars, definitely feel more comforter buying halves, quarters & dimes.
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Pillar of the Community
United States
3210 Posts |
I stick with buying certified coins now since you know its real. I also follow a simple rule too if it is collectible then there are always going to be people making fakes to rip people off. Do your research and buy with caution.
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Pillar of the Community
United States
1309 Posts |
But now the Chinese are making fake slabs, it's almost not worth taking the risk.
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Bedrock of the Community
United States
20753 Posts |
Quote:
But now the Chinese are making fake slabs, it's almost not worth taking the risk. Unfortunately this is true. And Silver Dollars appear to be the main target for those counterfeiters. At one flea market I went to a dealer was walking around selling those faked coins. From what some people told me he goes to different flea markets and coins shows all the time. Buying coins on line is a bit of taking chances too. The counterfeiters are really messing up this hobby. |
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Bedrock of the Community
United States
94367 Posts |
Our county fair is coming up and I fully expect to see one or two dealers selling Chinese fakes. But what can you do?
Edited by Coinfrog
07/21/2015 5:15 pm
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Rest in Peace
United States
17900 Posts |
If you read this forum on a regular basis it is a pretty rare day that does not include someone posting a fake coin and asking about it's authenticity.
I've paid close attention to the discussions that have resulted and it is a very educational experience to learn the tell tale clues of fake coins.
One thing you will notice is that even the best fakes won't fool all of the people all of the time. Experts on just exactly how a particular coin should look will give detailed comparisons and even link posts about such pieces.
By reading this information you will soon be able to identify what clues are available on most fakes so that they can be identified as such.
There are also those who will claim they can tell a coin is a fake when flipped in the air at 200 yards.
Caution is certainly due, as has been suggested, but it doesn't take much time to learn the basics so that you can get a very good idea about any purchase you may make.
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Pillar of the Community
United States
4469 Posts |
I would not worry to much about fake slabs if you buy PCGS, NGC from reputable ebay dealers or from the list of online dealers that has been provided as they will stand behind their product. Make sure that anything you buy has a reasonable return policy. If I was going to collect "some" Morgan dollars or Peace dollars, I would collect the better dates and stay away from the common dates. The better dates have a better chance of going up in value and are much easier to sell if you decide to sell the coins. |
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Valued Member
United States
59 Posts |
Quote:"I don't have a LCS so ebay is really my only choice." Everyone has given you very good options. You can always go to Coin Shows. Dealers there are known to be reputable. And your area coin club would probably have auctions at their meetings where you can pick up some pretty nice coins.I am posting a couple we bought in rolls from a big coin company in Dallas. You just have to look and be careful. Good luck with your buying.     |
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Pillar of the Community
United States
1450 Posts |
If you collect Morgans you are entering on a life long pursuit since there are variations galore. You can buy most of them in MS condition for less than $100 each. They are probably the most popular silver coin. There are so many of them and so many in near mint condition. Try and find LSQ, Mercury dime, Buffalo nickel or LWH in MS for $60. You can do this with Morgans. I never got a Peace dollar in MS condition for $100, but they might be out there somewhere. |
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Pillar of the Community
 United States
1189 Posts |
Thanks for all the responses everyone! I will have to check out some of those pages to see what I can find. The more research I do, I think I might just shoot for a Peace dollar collection. I really like the look of the coin and it's actually possible to get a complete set in decent shape (I think). In the meantime I did buy 1 Morgan for $20 shipped. It has good details and looks legit to me. I don't know how to tell if its fake though..   |
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Replies: 44 / Views: 5,425 |
Posted 07/19/2015 02:21 am
