Starting My Collection/Negotiating Prices

As you learn - scratch out the itch to buy raw, unless you are just buying coins for a few dollars each for fun.

If you want to build a meaningful collection (one that has a chance of breaking even for value in the future) buying raw first is mostly just tossing money to the wind.

You don't know what a MS-60 looks like, or any other coin at this juncture.

After you spend many months or years (or decades) learning the intricacies of grading and eye appeal valuation, then you might try buying a few raw coins AT A SHOW or at a LOCAL COIN SHOP so you can have them in your hands before you buy.

Even us folks who have somewhat of a handle on grading get completely skunked on our opinions from photos only. A newer collector buying from photos only is a sure way to lose money that you could have saved for a coin you will love.

LOVE your coins, don't like them, don't tolerate them. If you ONLY buy coins that you say WOW to when you see them, you'll be fine.

Last (no really) almost all of us have gotten to the point over the years when coins we bought earlier have to be "upgraded" (nicer examples replace the ones we had first). You will lose money on needing to upgrade 99.99 percent of the time. If you need to upgrade it, it's likely only a beginners coin choice, and you don't want possible coin sales limited only to new buyers.

one of the things not mentioned is how you plan to organize your collection. It may not be a big deal now but after you start accumulating your coins you'll have raw coins, third party graded ( TPG), etc. and will need to figure out how you'll store and display them. I prefer TPG just because it's easier for me but I also have a coin album for my raw coins as well.

Another thing not mentioned is CAC. You may notice some PCGS and NGC coins have a little green sticker on them meaning they've been approved by CAC. They sticker only the top coins for the grade. As a new collector you would be wise to try to locate and purchase only CAC approved coins. There's a premium that goes with them but they are easier to sell later on down the road and the premium will more than offset many of the newbie mistakes we've all made throughout the years. Morgans are one series where there are tons of average and overgraded coins. Bright white coins have likely been dipped or cleaned. Just because a coin is slabbed doesn't mean it's perfect. For these reasons, I would recommend you focus on CAC stickered coins. You will also learn what to look for by focusing and studying these coins.

Your possibly starting out with a coin that is expensive. Also, if you start out with more common types of coins, you may find a lot more available. For example you could still find Jefferson nickels and Lincoln Cents in change. You might find Mercury dimes and other Dimes also more available. And too if you do not have a lot of money to use for this hobby, Morgan dollars are just not the thing.

I would rather have an AU58 than a MS60-62. Quiet often they have much more eye appeal. You can find many discussions on here that may help you refine your method and process to purchase.

You should take some time and search the forums discussions, as you will find a wealth of information.

This is a slippery slope. First off the 1880-S is what most would consider a common date. You go to any large show and you can probably go home with a couple hundred or so (maybe more) examples in this grade. PCGS certified tens of thousands of this date in MS-65. Unless you intend to resell it back on ebay it will be hard to sell it for close to $100. You really need to understand what a premium coin looks like in order to get value on these common date Morgans.

Personally, I would take Moxking's advice and focus on coins you love or look for CAC coins. Most will tell you that you're not likely to make money in this game. It's a hobby and if after a few years you break even then great but I wouldn't plan on that with common date Morgans.

That's my 2¢ worth.