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 Replies: 20 / Views: 2,583 |
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Valued Member
United States
158 Posts |
(Note - I'm at work right now and cannot yet post pictures, but will do so as soon as I get home)
Acting upon the advice of those much more knowledgable than myself, I decided to set a budget amount and shop for the best quality Morgan I could afford within those budgetary constraints.
I also worked to establish a business relationship with a reputable dealer in my area, and today that effort paid off. I walked right in and was promptly served.
I explained to the owner that I was a beginner collector, how much I had to spend on an investment-quality Morgan, and was given a choice of about eight slabbed coins to look over at the counter. With his loupe, I narrowed my search to two very nice Morgans which were both certified as MS-65. I knew in my mind which of the two I preferred, but I wanted to see if the owner agreed.
"Between these two coins, which one do you believe is the better investment ?" He chose the very coin that I had decided to purchase (a sharp 1899-O with very nice luster), so that sealed the deal for me. I bought it for $190.00 cash. After some discussion, we agreed that my investment should remain slabbed, so I'll use my Dansco albums to hold the circulated stuff.
NGC lists this particular Morgan's value at $237.50, so I feel pretty confident I made a good deal. Now I'm stoked, and the proprietor has a new loyal customer !
As an added bonus, the owner took my business card and is sending me some gunsmith work in return (probably since he knows I'll spend that $$$ in his shop) Edited by CitizenPatriot
09/04/2011 3:23 pm
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Moderator
 United States
23522 Posts |
That's a decent, but not spectacular, price for the coin from a retail dealer. A few bucks more than reputable auction houses are hammering them at. The relationship it helps you form with a good dealer, though, cannot be overvalued. It_is slabbed by one of the reputable TPG's, right?  |
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Valued Member
 United States
158 Posts |
Yeah, I wasn't expecting a spectacular deal, just a fair deal.... and yes, it is NGC MS-65.
Developing a business relationship with a reputable dealer is worth something (to me) in terms of peace of mind. At least with this fella I'm confident he's not going to bend me over, knowing I'm a noob.
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Moderator
United States
23522 Posts |
You've got that absolutely correct, and I'd pay a similar price every single time under the circumstances.
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Pillar of the Community
United States
817 Posts |
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Valued Member
United States
158 Posts |
Well, I'm at work right now in a 9-1-1 dispatch center with severe thunderstorms all around....as soon as I can get some photos up I'll do that......
Our community is without power at the moment, so might be tomorrow.......dang it !
@ Superdave - I LOVE it when I get it right !
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Pillar of the Community
United States
931 Posts |
I love a Morgan with very few bag marks. That luster just wheels around forever. Congrats!
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Pillar of the Community
United States
5832 Posts |
You can't loss on a deal like that, I think you and the dealer both come out ahead.
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Valued Member
United States
438 Posts |
I was in the same boat CitizenPatriot, I ended up buying both a MS65 1898 for $169 and NGC has it valued at the $237.50, and an MS64 1900 for $83 and NGC has it valued at $108. I was stoked about getting these two gems! My first 2 and so far only slabbed coins. Here is a photo of my gems!  |
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Pillar of the Community
2224 Posts |
Congrats and  What was the one you decided against? I always like a well struck New Orleans. |
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Pillar of the Community
Canada
1610 Posts |
Wow, even in my trip to America, the coin dealers there had end of the line retail prices, mostly on their slabbed coins. (Still got good deals from other dealers though), I had luck, but not your kinda luck!
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Pillar of the Community
United States
2120 Posts |
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Pillar of the Community
United States
1064 Posts |
Those are beautiful coins, I'm more than a bit envious |
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Valued Member
United States
158 Posts |
That was a nice snag, Kyle ! Well I'm back at work today and we still don't have any power at my house so I cannot yet post pics of my new baby.....
Considering all the straight-line wind damage around us, I'm lucky to have an intact home to go to ! The neighborhood looks like a war zone. <sigh>
BTW, is there a "quote" button somewhere on this forum ? I've been looking around for one but my old eyes just aren't seeing it.
Edited by CitizenPatriot
09/04/2011 3:19 pm
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Moderator
United States
23522 Posts |
Quote:
BTW, is there a "quote" button somewhere on this forum ? I've been looking around for one but my old eyes just aren't seeing it. Second button from the right in the Reply box, above the "color" drop-down arrow. You have to cut/paste the text you want to quote, though. |
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Valued Member
United States
158 Posts |
Quote:
You've got that absolutely correct, and I'd pay a similar price every single time under the circumstances. Well, coming from you I'd say that's high praise, indeed. Now I'm even more confident I made the right decision. For me, personally, I prefer the face-to-face transaction. I want to look over the choices and find one that "speaks" to me. And that's exactly what happened. Sux to be without power (storm damage), but I will upload pics as soon as I can. Edited by CitizenPatriot
09/04/2011 6:08 pm
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Replies: 20 / Views: 2,583 |
Posted 09/03/2011 6:21 pm
