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 Replies: 21 / Views: 2,373 |
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New Member
United States
12 Posts |
I have been collecting for years now and I have always taken it pretty slow. While I have never paid really close attention to a specific grade, I tried not to get junk. I got close to finishing up my sets recently and I have been buying every morgan I can get my hands on on ebay that is cheap. So I show my nephew my album and he declares that they are "JUNK" and while looking at them objectively I start to agree. I bought very low grade Carson City and 1895-O coins and the 1888-S is damaged, the 1893-S was a fake and so many others are ag-g which is pretty bad for the morgans as I am sure you all know. HOW BAD DID I MESS UP? |
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Bedrock of the Community
United States
14454 Posts |
well as long as you get enjoyment out of looking at the coins thats all that matters, I know some people that would rather have a highly circulated coin instead of a uncirculated piece just because of the history behind the coin and to think of who may have used the coin, I wouldn't like havinga fake and even though I don't really like circulated coins I know there are a bunch of people out there that love them. But your enjoyment is all that matters and collect what you like
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Valued Member
United States
57 Posts |
In my opinion a coin collection is worth what you make it worth, unless you plan on making a profit on your coins at some point, then grade isn't that important, I myself would rather have a whole set of some type of coin then just one brilliant uncirculated coin that cost me as much as a set of circulated examples. I am only a beginner in collecting coins but I would rather have several average grade coins then a slabbed example of one, I don't plan on selling them instead I would like to pass them on to my children and hopefully they will pass them on to their children. There is nothing wrong with collecting high grade coins even if you plan on keeping them forever but everyone collects in their own unique way and its whatever makes you happy that you should do, to some people a collection of circulated coins isn't worth much but to me and a lot of people it is highly cherished, so do whatever makes you happy, at least you have a whole set and you can always upgrade some of the fake or damaged coins.
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Valued Member
Canada
82 Posts |
There's no such thing as a junk coin if it's a very rare key date. Even numismedia priced the 1895 o Morgan dollar at over 250 dollars. When a coin is worth hundreds of dollars in good condition, it can't be considered junk in any condition. looking at the price guide the 1888 s dollar is worth 264 dollars in MS60 condition but is still worth over 100 dollars in vg condition. That probably means that a damaged one is still worth something. Edited by grmike
03/12/2008 05:40 am
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Pillar of the Community
United States
533 Posts |
quote:
HOW BAD DID I MESS UP?
I don't think that you did, unless the entire time that you have been collecting you had thousands of dollars just laying around. If you are unhappy with some of your more circulated key dates, upgrade! I even have some common dates in fine condition that I have been given. Is that the coin that is going to be there forever? Absolutely not, but it fills a hole for now, and when I find a nice one that is priced right I will buy it. I would love to have any CC minted Morgan in good condition. quote:
So I show my nephew my album and he declares that they are "JUNK"
Wow, he called an almost complete collection of Morgans junk. IMHO, anyone that does that is completely ignorant. He doesn't collect coins does he? If he did he would have understood the time and money that collection took. He would probably say something worse about a full set of G-4 Liberty Cap Half Cents. At least until you pointed at one from 1796 and said something like, "Well, this piece of junk is worth more then 20k." I bet he would change his mind. |
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Bedrock of the Community
United States
20753 Posts |
Looks like all has been said that I would say. I'll just add that nothing to me looks worse in an album than a complete variety of grades. Some AG, some F, some MS. I would much rather have a completed set of any coin in all VG, for example, than a completed set in all various grades.
Beauty is in the eyes of the beholder.
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Pillar of the Community
United States
6326 Posts |
My Dad constantly irratates me........he STOPPED collecting 30 years ago mostly. And he constantly tells me that it's STUPID to pay more than the silver price for ANY silver coin......including Morgans. I tell him that a coins value depends on many things....condition, mintmark, date......I say to him ..You're not going to pay $18.00 for an $540.00 slabbed and graded Morgan ! His ignorance just kills me. Like the " Flying Eagle cent" up above here on the Forum......it went for what $1,500.00....I mentioned this to my Dad and he just shook his head in disgust ! I said ......"There's no silver or gold there......and look at the value". I've been back and forth with him on that kind of stuff for years..... He says HE wouldn't even EVER pay Blue Book for ANY coin.....and nor would any SMART coin collectors !....I FLIPPED MY LID !. (he said this today !)...He's always seemed to have found someone "hard up" and got so lucky with "acquiring things" in his life ! .....But it's jaded his thinking.....the rest of us have to pay what something is "actually" worth !......might get some good buys from time to time....but ..... Personally....I don't want all "low grade junk" in my collection that'll only ever be worth "silver melt" prices. (my dad has A LOT of goodies and has given me many coins through the years and he "lucked" into getting some REALLY nice ones in his time)..BUT .......he apparantly is of the mindset that this theory he has is the "smart" way to go.......MAN ! I could NOT disagree more ! If you NEVER go over Blue Book.......YOU'LL NEVER BUY A COIN ! Pretty hard to find people who will sell for that price.... To be honest though, I suspect this is his way of telling me to SAVE my money instead of spending it......credit cards...savings...future....retirement.... I don't know, but the "arguement" is sure frequent and frustrating ! I think a collection can have some low grade stuff...some medium grade stuff... some nice new Moderns (silver & gold).....some high grade Classics that'll always be worth good money and generally appreciate in value.....some Commeratives.......different coin albums........ paper currency......some foreign coins....a motley mix so to speak........THAT'S A NICE COLLECTION IN "MY" BOOK ! And so I would agree with others.....you collect for many reasons and as long as it pleases you....then there ya go. "Upgrading" the coins in those albums is certainly something you can do for fun and maybe that Nephew would be more impressed !  ....And if he isn't...then he won't be on the "inheritors list" someday ! LoL  Edited by eaglefoot
03/12/2008 11:08 am
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Valued Member
United States
265 Posts |
I have to agree that one man's junk is another man's treasure. I am impressed that you were able to complete a set of Morgans. Knowledge is power. I have definitely picked up a lot of tips here on the forum, and I have been collecting for better than 20 years.
edited to remove all caps- against forum rules denotes yelling
rggoodie moderator
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Valued Member
United States
204 Posts |
I would say you probably have a pretty nice collection - the next step (for some) would be to upgrade. Don't worry, there's still time  . I would suggest looking beyond just ebay for coins though - there's nothing wrong with ebay, but there are many other sales venues available where the quality is a bit less of a guess (not that buying from a dealer is perfect either). I do agree with your nephew in one sense - I will probably never complete my set of Peace dollars because the 1928 starts at >$300 in Good condition and the only difference with this one and the rest of the series is the last digit in the date. Personally I have a hard time justifying buying a coin for that price that doesn't look really nice when there are so many coins I could get for $300 in excellent condition (but then I mostly collect modern coins and I'm a cheapskate). But if completing a series is where your heart lies, go for it - and find a good replacement for the fake one you have. And do get a copy of the Red Book Guide to Morgan dollars - I recently bought one and it was worth it just for the year by year history lesson of what was going on when the coins were minted. Good luck with your collecting  |
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New Member
 United States
12 Posts |
Thank you for your input, but I did want to clear something up...I do not have a complete set of Morgans. I am still missing the 1895 Proof, 1894, and the 1893-S (a real one). I don't know, I guess I really am not happy with the grade of some of them or I wouldn't be posting this. I suppose that in a few years when I have the money to upgrade I will try to find someone putting a set together on a budget that may appreciate the ones I am getting rid of to offset my costs.
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Moderator
 United States
187582 Posts |
quote:
HOW BAD DID I MESS UP?
I will echo what most have already told you. If you enjoyed collecting them, and enjoy having them, then my answer is "not at all". Event the fake can have meaning; it is a good story to tell. I have some lower grade coins from my earlier "frugal" days. I have a difficult time wanting to "upgrade" them because of the sentimental value. I enjoy looking at them an remembering the journey.  |
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Bedrock of the Community
United States
12437 Posts |
Well, I wouldn't call them all "junk" unless someone scrubbed them with a brillo pad and then blow torched them- that would probably make them junk  quote:
I am still missing the 1895 Proof
I wouldn't worry about that one since it is a proof, it is not needed for a business strike set and unless you have $30-40,000 it is unobtainable for the vast majority of collectors. Plenty of other Morgan proofs can be found for $1-3000 but the 1895 is ridiculous since so many people think it just has to be in a set= over hyped. |
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Pillar of the Community
United States
6326 Posts |
Jbuck......... I've got to stop being so "long winded" ! I could/should have said the same thing in a much shorter way.......(got to work on NOT being so elaborate and deviating from the point/topic so often !) Well said on "your" part !  ......  ..... ..... ..... ...... Edited by eaglefoot
03/12/2008 12:27 pm
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Pillar of the Community
United States
533 Posts |
quote:
I suppose that in a few years when I have the money to upgrade I will try to find someone putting a set together on a budget that may appreciate the ones I am getting rid of to offset my costs.
 oh oh oh oh oh! me me me me me! For clairification, you have a complete set (-3) including proofs?!? If not then why do you need the 1895 proof? If so then, WOW! (and this next statement might not apply) Unless you have 40k to plunk down on an AU55 1893-S you are going to have some worn coins in your set. If you don't like that, or can't accept that I guess you should stick to modern coin that are easier to find in MS+ condition. On a related note, how much did you pay for that fake 1893-S, if you don't mind my asking? One tip, if you are buying coins that are worth as much as those, I would only buy graded examples from the top TPGs. I would never buy a $1000+ coin in the raw, I would be way too scared of getting ripped off. |
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Bedrock of the Community
United States
17884 Posts |
quote:
And he constantly tells me that it's STUPID to pay more than the silver price for ANY silver coin......including Morgans.
I suppose he only pays scrap steel price for his cars, 12 cents for a large box of cereal etc. :) |
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Pillar of the Community
United States
6326 Posts |
Condor101........ Thank you !........exactly !......but I'm afraid there's NO argueing with him ! Even when he's blatantly just WRONG !...I love my Dad, but ....sometimes.........SHHHHEEEEESSHHH ! (I probably shouldn't be airing out family frustrations and spats on this forum......but couldn't resist THAT one !) My pops just thinks, as far as coins go, if you can't get it DIRT CHEAP, so that you can make an obscene profit someday, then your DUMB for buyin' it !!.....and I just get a headache listening to his preaching about that !  .......... ............ .......... Edited by eaglefoot
03/12/2008 3:21 pm
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Replies: 21 / Views: 2,373 |
Posted 03/12/2008 04:27 am
