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 Replies: 8 / Views: 2,468 |
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Pillar of the Community
United States
591 Posts |
So there is a local real estate auction on Sunday and there are some coins being auctioned, as well as home furnishings, and the home itself. Pretty general description of what's being offered and a few photos mainly of half filled whitman albums, etc. 1883-1884 Carson City Silver Dollars, Silver Halves, Quarters, Dimes, Buffalo nickels, Lincoln Penny's, Mint & Proof sets-'70's-2000's, Prestige sets, Medals Commemorating American Revolution.I may peruse the whitmans for a deal, but what most caught my eye here are these 3 CC Morgans in GSA slabs. I'm not a Morgan dollar specialist, so I need some help as far as what a reasonable bid might be. I'd likely be looking to just sell (or trade) at a future coin show and hope to be lucky enough to make a few bucks for other coin purchases. Are these GSA slabbed Morgans in high demand? Blue Book value for MS60 is $150. I have no idea who's going to show up at this auction, maybe a slew of Morgan dollar fanatics! Say I were to spend $450, should these be easy enough to unload at a coin show for say at least $200 each (at low MS grade)? That is assuming these are at least MS60; how likely could they be AU? (in which case I'll need to study my Photograde app for Morgans)? Please let me know what you think. Thanks! Unfortunately, this is the only available photo:  Edited by one_fine_dime
12/06/2018 10:34 pm
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Pillar of the Community
United States
3479 Posts |
I've found there is not much room for profit margin in morgans. You will have to spot grade them yourself and look up auction history sold values then subtract grading fees as these are essentially being sold as raw.
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Pillar of the Community
United States
3479 Posts |
And also you can probably assume they will be bid up by many uninformed bidders simply due to the carson city mintmark. I'm willing to bet that these will provide no feasible flipping opportunities.
Better opportunities might be found in the albums.
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Pillar of the Community
 United States
3058 Posts |
To the right person (like APMEX or Norther Nevada Coin) you could get $200-$205 for the GSAs, but to the average dealer it would be $160-$185. I normally pay $175-$185 myself. |
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Pillar of the Community
United States
8715 Posts |
For the record, all the CC GSAs in the slab-like holders are MS.
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Pillar of the Community
United States
1316 Posts |
Is your hope to be able to resell/trade to a dealer at a local coin show? If yes, they may not offer more than around 50% of market, maybe low $200s. 83/84, along with 82 are among the most common dates of these GSA holders Morgan dollars. There isn't a coin show in which these are hard to find. So once the bidding hits triple digits, odds of turning a profit are getting slim. At that point ebay might be be your next best shot at turning a profit as long you are under $125ish in cost and the condition of the coin justifies a sales price over $180. Most of that margin will go to ebay fees. Morgan's aren't a great place for high margins. Edited by Collects82
12/07/2018 01:34 am
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Pillar of the Community
 United States
591 Posts |
Thanks everyone for your good advice! I was a clearly naive to even think these could go for $100ish apiece. Wasn't even close. Bidding started at $100!...and there were in fact one CC GSA Morgan from '82, '83, and '84. They each went for $220-$230. Other coins consisted of annual proof sets and mint sets, only going back to the 70's though. Whitman albums seemed of minimal value really (low grad Mercury dimes - which is what I would have been most interested in), generic Franklin halves, etc. Glad they posted the time of the coin auction (house and furnishings were also auctioned earlier) and the GSA's were up first, so I didn't waste my entire day there...instead of x-mas shopping. Thanks again. |
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Pillar of the Community
United States
3843 Posts |
A few weeks ago I was at an estate auction with similar GSA CC silver dollars and they sold for $185 - 205 each. There were some bargains to be found but the CC Morgans sold high in my opinion. In my experience in attending auctions they are a very poor place to purchase items that draw a lot of interest like autos, firearms, and coins.
Edited by Joe2007
12/10/2018 5:45 pm
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Pillar of the Community
United States
591 Posts |
Yes, that's been my experience so far as well Joe2007 and I keep thinking it will be different the next time, that I'll somehow be the only one looking to buy certain coins.   |
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Replies: 8 / Views: 2,468 |
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Posted 12/06/2018 10:30 pm
