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 Replies: 16 / Views: 2,936 |
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Pillar of the Community
United States
3479 Posts |
So one of the local pawn shops I deal with is selling off a Morgan collection on consignment. I didn't buy any on the spot but took a pic of the inventory list the owner of the store jotted down. Don't laugh, there's a few NNC slapped coins. 2 questions: What do you think of the prices? And are there any semi key dates or good deals that stand out?  Edited by MikeF
06/26/2017 11:28 pm
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Pillar of the Community
7234 Posts |
Quote:
there's a few NNC slapped coins They should slap NNC and leave the coins alone!  |
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Pillar of the Community
United States
887 Posts |
I'm not a Morgan guy, but I'll chime in with my initial reaction. Those prices seem a bit high. As an example, the 87-S's he has the NGC AU53 at $70. PCGS Priceguide puts it as $55, Numismedia has it at $52, and NGC has it at $60. The NNC is probably an XF or VF, and worth about $40, but consider that a raw coin, and grade it yourself. I don't see what I would consider a key or semi-key date, just by looking at his values. My guess is he jumped on ebay, and looked at asking prices, and not sold prices, which is typical for a pawn broker. If there were any key/semi-key dates, his prices would show it. He probably looked at sold prices when buying them, and bought them for about half that if I had to guess, or he bought them at around spot, with maybe a slight premium for being slabbed, but that's only a guess. I certainly wouldn't be looking at buying them all, unless I was ready (mentally and financially) to start a Morgan set. If you're a VAM guy, you could always try to cherrypick, but that'll take knowledge and research. If anything, I might pick up one or two that had some awesome eye appeal, or that I just really liked, but again, I'm not a Morgan guy. Let us know what you do, if anything. |
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Pillar of the Community
 United States
3479 Posts |
Thanks! I should note they were priced by the owner of the coins... Not the shop owner.
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Bedrock of the Community
United States
12057 Posts |
Prices are a bit above retail for the dates listed. Nothing particularly stands out, but the 1878-S's are worth checking for long nock reverses, and if the OGH 1890 in PCGS MS62 could upgrade to a 63 that would be a good price.
Member ANA - EAC - TNA - SSDC - CCT #890 "Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis |
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Bedrock of the Community
 United States
12477 Posts |
In this situation, I think the only way you're going to get any kind of deal is to make an offer for all of them.
The pawn guy wants to move inventory and moving it all in one transaction would be attractive.
In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
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Valued Member
United States
338 Posts |
Cash talks. But, grade the coins and don't trust the labels.
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Valued Member
South Africa
331 Posts |
Yes do a Frank Fritz bundle offer
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Pillar of the Community
United States
3210 Posts |
I would maybe attempt to buy the PCGS OGH holdered coins and that'd be it honestly. OGH can be undergraded and command a fair premium. All the others are common dates and not worth investing in. Now if they were going to around $20 a pop and looked good then I'd be all over them. For now buy the 2 OGH PCGS Morgans.
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CCF Advertiser
United States
1533 Posts |
Common date MS-64 Morgans can be had for $50-60 at shows. Everything seems too expensive.
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Bedrock of the Community
United States
12057 Posts |
I know of at least two major market buyers who are paying $36 & $38 for Uncirculated common dates, cash on the barrel, and $24 each for ave circ-VG without major defects. Some of the coins may, in fact, be worth the listed prices above, if they have strong eye appeal, are a scarce VAM that has interest, or above-average toning, etc. Otherwise, I would offer $30 to $35 per coin as a bulk purchase for the entire lot sight-unseen. Member ANA - EAC - TNA - SSDC - CCT #890 "Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis |
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Pillar of the Community
United States
3479 Posts |
Thanks all! I'm going back in tomorrow to see how bad they want to move them.
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Pillar of the Community
United States
1963 Posts |
If you get them for that cheap, PM me. I'm interested in some of those!
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Pillar of the Community
United States
3479 Posts |
I offered $840 cash for the whole lot and the owner of the coins turned it down. The shop owner said the consigner contacted him through his craigslist add. I remember a guy from craigslist that ran an ad trying to sell 3 CC Morgan dollars at inflated prices a few months ago. Two of them were holdered in NNC basement slabs. I contacted him and made an offer but his price expectations were unrealistic. I suspect this is the same seller because he mentioned that he had others for sale if I was interested. My takeaway is don't overpay for coins. Don't buy coins slabbed in basement holders and don't expect to get more than retail when it comes time to sell. There was only 1 coin out of the entire lot that had nice toning. |
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Valued Member
United States
179 Posts |
I would like to see the OGH holder just in case it has toned or was possibly undergraded.
NNC is just bad news bears. The seller on Craigslist was probably into the deep and actually believed the coins were accurately graded.
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Pillar of the Community
United States
3479 Posts |
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Replies: 16 / Views: 2,936 |
Posted 06/26/2017 11:39 pm
