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 Replies: 7 / Views: 1,103 |
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Valued Member
United States
155 Posts |
If you could get all of the Morgan dollars that you wanted for between $25 and $35 would you pick up a few? Stopped in today and there are no key dates. But I can see that none of the coins have been cleaned and all would grade VF. I have a Red Book and can see the values for the dates fall between $22 and $40 in VF condition. Seeing as I have no interest in shopping on ebay for morgans and the other coin dealer near me sells only $100+ Morgans, should I buy the cheaper ones? Or can they be had in the $19 to $22 Range in other places? The next coin show in my area is in August and I Would like to get a jump on my Morgan collection befor then. Thanks as always for your advice. |
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Valued Member
United States
463 Posts |
About 6-7 months ago you would of been able to get them around 18-20 range now with there melt at 26 its hard to get them under melt unless there damaged or heavly circulated. I bought up all the Morgans I could 7 months ago and thats one thing to hold on to as they will always be popular and if silver falls one day there value will be little affected unless there just junk. You just got to look around and you may be able to get them wholesale
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Valued Member
United States
225 Posts |
On the low end you are close to melt. Silver will probably go higher at this point. If you pick some up be picky and choose the best for the least.
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Pillar of the Community
United States
4421 Posts |
It sounds like you're intending to collect rather than accumulate Morgans as bullion or investment. If that's so, what's your ultimate goal? Generally, I'd suggest buying only Morgans that grade Fine or better. If you want to get a jump as you say on a Morgan collection, you might consider getting a book on the VAM varieties. There are relatively rare varieties awaiting discovery among all those Morgans now flowing into dealer hands, and knowledge is a great tool to possess. The Red Book is a good starting point, but it only scratches the surface. Many dealers have boxes of Morgans from which you can take your pick for a few dollars above their buying price. Doubtless, treasures lay within at times - 1900-O/CC, 1882 O/S, 1888-O "hot lips" ... Happy hunting! |
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Pillar of the Community
United States
5632 Posts |
EXOGUY,
I could not agree more, great advice. I will also say depending on your knowledge base of Morgans, this could be an "addicting" adventure, w/e good luck...PS, This is exactly what I do in some local shops, some dealers will NOT let you cherry pick your way through their selection.Bring a good loupe and be nice, you might find some sweet coins and wish to return.
It is always good practice to develope a solid relationship with these dealers, as you never can have too many coin dealers for friends, IMO....
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Pillar of the Community
United States
4421 Posts |
Thanks for the kindly post, MORGANS DAD. Specialized collecting can certainly be addicting as you said. Who among us doesn't get a "rush" from adding a special coin or token to our collection?
On many occasions that I've felt I've gotten too sweet a deal (some of the exonumia and coin varieties I buy require research), I've returned and offered a dealer additional money. Most decline my offer and subsequently set items aside for my purchase at a future date. A few have even maintained boxes with my name on them. Along the way, many friendships have been formed. Also, when walking the floor at shows, I look for deals that my favored dealers, those who have to watch their tables, might seek. One hand washes another, and numismatics is not all about money. Whether a collector or a dealer, cultivating good people skills is important, and this website certainly encourages same.
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Valued Member
United States
364 Posts |
Yep. There is a local dealer near here that is a pretty good guy. The first few trips it was all about the coins, but I think what impressed him was he had obviously forgotten to mark up a silver circulation set buried in one of his boxes up to current silver value. I flat-out told him I'd pay spot for it out of fairness. He refused, but thanked me for my business and I could tell he appreciated me offering.
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Pillar of the Community
United States
1348 Posts |
Buyign decent morgans for $25-27 right now is a great idea. You can;t really go wrong since melt is around $25-$26 anyway
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Replies: 7 / Views: 1,103 |
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Posted 02/22/2011 9:29 pm
