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 Replies: 17 / Views: 2,874 |
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Valued Member
United States
421 Posts |
I have a question on an opportunity I came across and just wanted confirmation. I have the opportunity to buy 315 Morgan silver dollars at $20 a piece. Now most are AU (ungraded) and common dates and about 15 are pretty worn so just Silver value and 10 that would definitely hit MS. I understand $20 is a good price but I have to buy all or none. They have been stored properly. What are your thoughts. Thank you |
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Rest in Peace
United States
1559 Posts |
For $6,300 I think I would buy some coins that I really wanted. 315 Morgan's is a lot. I would have to venture to say that there would be a lot of duplicates! However, if your good at marketing there is a possibly to make a good profit though it would more than likely take some time to sell that many! I personally wouldn't do it!  Edit: I forgot to ask if you are able to view thes coins? Edited by Tootallious
04/21/2018 1:09 pm
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Pillar of the Community
United States
4085 Posts |
What would you want to do with them? Will the idea of a massive stack of Silver Morgans get your engines running? Or do you want to sell them and make a little money on the side at some point in the future? Or will they just tie up $6k and sit around?
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Pillar of the Community
United States
3184 Posts |
Its a good deal and you can sell them easily later. Some people stack 90% junk silver, or bullion, its fun to stack morgans/peace. I did.........I have nearly 1,000 of them but I sold the majority to pay off some bills and all.
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Pillar of the Community
 United States
5666 Posts |
If you're sure they are all genuine and you have the time, you can't lose. You could sell most of them for a slight profit and keep the MS ones for free.
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Rest in Peace
United States
17900 Posts |
All or nothing at $20 each would probably be a nothing for me just because I'm prejudiced against Morgan's because of their availability.
Try calling a few dealers to see what they would offer. I doubt any will be at $20.
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Bedrock of the Community
13014 Posts |
What would your end goal be by doing so?
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Pillar of the Community
United States
3479 Posts |
For that type of transaction, I would be at spot but I would never tie up that type of capital for morgans. They're a dime a dozen. I pick them up out here from pawn shops at spot when they come in and quickly flip them.
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Pillar of the Community
United States
1307 Posts |
You can get them for less on facebook, there's tons of silver dollars going for $18.
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Rest in Peace
10197 Posts |
Auctions I frequent are selling by the boatloads at $18 and less. Now true there are BP's but the flipping profit for that quantity will be negligible, $2-4 per coin. Venture to say the MS/AUs will be 1921's, those are $16 at auction today.
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Pillar of the Community
United States
2200 Posts |
I'll tell you what I'd do with them--I'd pour them onto my living room rug and roll around in 'em!
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Pillar of the Community
Canada
5239 Posts |
I would be tempted if there is a good range of dates and MM and I was just starting a date/ MM set.
But then again I like Morgans.
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Valued Member
 United States
421 Posts |
Thank you for the feedback! I got them down to $18 each. I not worried about spending the money I want to get them for my 2 boys and give them to them when they turn 18. I have put other coins away for them and it may be something they want to keep or help put a down payment on a house after college, they are 6 & 7 years old now
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Pillar of the Community
United States
4469 Posts |
You made a nice buy at $18 each.
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Pillar of the Community
United States
3184 Posts |
good job, if you get your boys into coins, they will really enjoy what you did for them
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Valued Member
United States
104 Posts |
Great buy its a lot of fun. Enjoy with the boys.
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Replies: 17 / Views: 2,874 |
Posted 04/21/2018 1:13 pm
