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 Replies: 24 / Views: 2,707 |
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New Member
 United States
31 Posts |
I really wasn't even going to sell that coin. I went in to see if they could tell me if my Morgan was artifically toned and its value. But thought what the heck let's see what they think this is worth. They offered $18 for the Morgan and $40 for the Eagle.
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Rest in Peace
United States
9104 Posts |
To start with, whose ms70? numismedia is 194, but only 65 for ms69. what you have is a $40 bullion coin in a $154 piece of plastic.
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Rest in Peace
United States
9104 Posts |
Checked the price on common ms65 Morgans lately? They used to be $400+ wholesale until speculators realized that there were tens of thousands of them, and nowhere near that many collectors. I forget the bullion issue, but something ridiculous like 70% of the ones submitted were getting ms70.
OK, so ms70 is a nicer coin, worth 17% more than a ms60, according to the creator of the 1-70 numeric system, but if MOST of them are MS70, then they are not scarce, not rare, not even rare in that condition. The term for them is typical, and a typical issue is not worth five (or more) times any other typical piece of bullion, I don't care HOW you try to finagle the bagel.
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Pillar of the Community
United States
900 Posts |
I'm glad to see this topic because I have a question about a specific coin shop called Allen's Collectibles and Gifts in Columbus, Ohio. I've been thinking about ordering BU LMC rolls from their website. Does anyone have any information about this shop one way or another to help me make my decision? |
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Rest in Peace
United States
9104 Posts |
Allen's has been around even longer than I have. They're in Westerville, a Columbus suburb. Allen sold it to his son years ago. If they have a decent price for what you want, go for it.
Email or call me if you want more info.
Edited by biggfredd
02/26/2011 2:42 pm
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New Member
United States
31 Posts |
So fred what you are saying is you think I shoudl break it out of its slab and melt it down? And no one in the world should ever collect Silver Eagles? Does that pretty much sum up your comment?
You can say the plasitc is worth 154 but you can also say that about 1000 other coins..if you have two of the same coin and one is graded MS70 by PCGS or NGC and then the other coin is graded by SGS(or some other garage grader) or not even graded at all, is the first coin more rare than the second, heck no its the same coin. But is it more valuable? Well in it's present state of not being graded, then yeah kind of.
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Pillar of the Community
United States
900 Posts |
Thanks for the info biggfredd. I feel more comfortable ordering from them now. I was actually in there on Valentines Day, but there was a line out the door of people who were selling and only one person to help those who were buying. I was going to buy about 30 rolls, but I got tired of waiting and my wife was getting impatient with me.
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Valued Member
273 Posts |
As a former shop owner, please don't paint every coin shop owner the same.
(1) being in business... most shops have to sell something every day... quite a bit of something... or soon be out of business.
(2) Most shop owners have ALREADY spent all their ready cash on inventory... Generally, when a customer walks in the door, the SHOP KEEPER pretty much has to SELL something to the customer, rather than the other way around or you will quickly be bankrupt.
(3) Which is why a shop keeper might low ball someone walking in wanting to sell.
(4) If the shop keeper's rent is due, a customer might find some reasonable deals... as a buyer.
Changeless--(former owner of "Retro Guitars", Juneau, Alaska)
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Rest in Peace
United States
9104 Posts |
Quote:
So fred what you are saying is you think I shoudl break it out of its slab and melt it down? And no one in the world should ever collect Silver Eagles? Does that pretty much sum up your comment?
You can say the plasitc is worth 154 but you can also say that about 1000 other coins.. I'm saying if you look at the numbers, I'll bet you find that there are a bunch of ms70, so people buying them are paying $154 for the case and $40 for the coin. Put another way, ask yourself what you'd pay for that coin raw, and anything more than that amount is what you're paying because it happened to get ms70 that day. Collect silver eagles if you want, but think twice before you assign a value of five times on what is a pretty typical condition coin. MS65 Morgans didn't drop from $400 to $40 because they lost collector value, but because they were $40 coins all along. Keep in mind this opinion is coming from someone who can remember seeing display cases with bags of bu dollars your choice $4, PLs $4.25. |
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Replies: 24 / Views: 2,707 |
First Page
Posted 02/26/2011 1:35 pm
