Collection of Morgans

Thanks guys. I never heard back, but this is a good thread. I keep looking on CL. Doesn't the fact that he has the 5 set of PLs and cases for everything, make a difference? Worst case, taking off 15% for Ebay commissions, a seller should net more than 1500, if sold on Ebay.

 

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I believe Most Would "Accumulate"

Thanks for explaining a condition that many have, namely the physical accumulation of cherished items. It's seemingly impossible to explain the condition to those without your specific appreciations. Squirrels will accumulate acorns, mice seed, humans dollars and virtually anything they like. Some humans may consider it strange to collect more than one of an item. These same individual will not consider accumulating paper currency/stock/bonds unusual. I find it hilarious that physical accumulation of tangible assets is considered strange. It seems the majority norm is to accumulate pieces of paper or computer bytes signifying "wealth". Normality seemingly is allowing the control of their "wealth" to others. Future power disruptions, as recently being experienced by many, may alter thinking.

It is difficult to explain the evolving phenomena of humans wanting to transfer control of their wealth by physically acquiring tangible assets. There is an unbelievable growing market for competitively priced universally exchangeable tangible assets. Many "old school investors" are divesting their cyber/paper assets (e.g. 401K, bonds, savings accounts, etc.) to acquire tangible valuable physical material (e.g. food, water, fuel. firearms, ammunition, petroleum, vehicles, land, precious metal products, etc.). Seemingly the concept of mutual benefit is foreign/unacceptable to most. Individuals willing to exchange on a mutually beneficial/acceptable basis, I believe/experienced, wont lack for "trading" partners.

JMHO :thumb:

 

The black cases mean nothing. They are an after-market gimmick. In an earlier post of mine I went through completed ebay auctions for every date on that list save a single coin and sellers would have a net of about $1,400 if shipping were ignored. Perhaps someone might net $1,500 selling all the coins on ebay after all fees and shipping, but they would likely have to sell them in individual lots and go through all the work and potential scams of ebay buyers to net not much money.

 

Wow, blu62vette. I cannot personally relate to that compulsion or rationale but I believe you. I remember meeting lots of amateur investors in the late 1990s who had such devotions to this or that company, and it almost always ended in tears literally. Emotion & value investing don't mix, obviously!

I should very much like to believe that, imrich. (That's why I'm here, testing the thesis.) However, I've seen no evidence to support such wishful thinking. I long ago abandoned 'faith-based investing' in monetary instruments, so "trust but verify, the numbers don't lie" must apply here too.

The market for Boomer collectibles (including most US coins) has been declining and will continue to FALL in this deflationary cycle. Sorry, it ain't over yet.

And I very much like your relationship thesis, so long as it caveats the predator's rook. Promises of "mutual benefit" from the wily schemer's mouth won't materialize, I'm afraid. Everyone should sensibly Buy Low, Sell High ... or s/he'll come out a loser to someone else's profit, again and again.

 

I did the same thing with the 81-S because it has such a nice strike.

Chris

 

Juan, if I were in it for the investment, I probably would have quit decades ago. It's a hobby, and it's called coin collecting.

Chris

 

+1

I couldn't have said it better.

 

A Subjective Skeptic Is Virtually Impossible To Convert

I know that a true subjective skeptic can hardly be converted, so I don't try. If you review just some of my advice posted in the past, "Pro Bono" on this site alone, one with objectivity would realize that I either know something, or I'm very "Lucky". On more than one occasion I advised on this site how to invest amounts posed by an inquirer, even with my guarantee of repurchasing that acquired from others. I've realized considerable ridicule similar to yours because of my directions, but my advice generally is stellar. If the individuals invested as I suggested, they should have greater marketable assets than if heeding the other recommendations. When my player acquaintances suggest that I take my card skills to the Casino 15 miles directly away from me, I tell them that if it weren't for bad luck, I wouldn't have any luck at all. These facts should help you decide whether I have luck or skill.

If you read the open posts on my CoinTalk "page", you will see that I've extended my offerings beyond those originally contracted to clients in this venue. I've negotiated with several to meet their needs, sending free valuable coins/materials, buying expensive unneeded coins from individuals who received something other than expected, etc.. Others in this venue will vouch for the aforementioned. This effort isn't "self-serving", other to generate an atmosphere of "mutual benefit", where I've benefited by assisting others to learn/accomplish their personal goals.

You can deny the existence of Hannes Tulving, and his model for success, but the truth is that he and others exist, and the model works. I've expanded on the model to benefit those of lesser resources. I allow mostly local "investors" to purchase commodities I deem marketable, in varying diversity and dollar amounts from a high 3 figures to a low 5 figure sum. I generally wont accept purchase requests outside of my stated range, as several have liquidated their Roth IRA to purchase, but I wanted them to objectively evaluate their decision before returning to purchase an additional "lot". I guarantee to repurchase within a 90 day period at a 5% discount, but will always offer to repurchase anything I've sold, at a "best market price". I'll meet at varying locations, with the purchase price dependent upon distance from my desired exchange location. My phone number is placed in ad titles, but I accept all e-mail inquiries. I've received numerous inquiries from my competition, questioning the various aspects of my "operation". The competitors have tried to duplicate, but don't understand the general human psyche, which I've studied and tested through more than a decade of selling/buying. We've finally established mutual respect where all competition have met me, or informed others, and realize that my "model" benefits all of the sellers/buyers, where I'm no longer "flagged".

I trust that my explanation might partially suffice to meet your pessimistic challenge.

I hope that the OP has success in accomplishing his goals, as it appeared the seller had also tried to accommodate a "mutual benefit" exchange. JMHO :thumb:

 

Well I doubt your self-annointed 'stellar advice' and not only because you sound like a huckster or I'm a "cynic" LOL. I didn't fall off the back of the turnip truck yesterday, chief.

In fact, I've had firsthand dealings with Hansie on behalf of clients - and he lied to me point-blank, twice - so your laudatory praise is a red-flag. Fortunately, my own clients were not angry at me for that particular bullion 'situation', just another sad lesson in the US coin racket. Cheapo prices notwithstanding, many others online have reported similar disappointments w/Tulving but I have no idea what percentage are also folks dropping $30k - 50k a pop, to get that kind of mistreatment. In this economy I honestly don't understand it, but I'm PERFECTLY HAPPY to never again do business with Hansie. Once burned, twice shy, you live and you learn, etc.

I cannot answer an East Coast HNW investor with the same lying excuses that 'work' for a coin-sharp hustling NASCAR fanboys. A financial advisor could get investigated & fined for that sort of thing, frankly. I do believe a solid relationship with a reputable coin/bullion dealer is worth an extra 2-4% premium, but those "mutual benefits" must in fact be mutually beneficial. It's not enough to simply promise that. But if you deliver as you claim, that should be great for your business and your clients should well-appreciate it. Good luck!

 

Chris-
The OP is asking a valuation question. Did you miss that, somehow? Poor investment= not paying attention LOL

 

His response had nothing to do with the OP's question. You asked this:

Todd replied with this:

You then made a bizarre post that seemed to infer that you thought Todd's compulsion made him an amatuer investor despite the fact that he was clearly speaking as a collector of Morgan Dollars.

If you are going to criticize other people, PAY ATTENTION!

BTW, I currently own ten 1881-S Morgan Dollars because they bear the same pedigree. It's a hobby, and it's called coin collecting!

 

Lehigh96-
I'm not "criticizing other people" just asking why 17 or 100 of essentially the same thing. We're not talking varietals here.
And I'm not 'hating' on your choice to do whatev. You can collect Beanie Babies for all I care, LOL
I still see this thread through the prism of VALUE (the context of the OP) not someone's unknown irrational private quirks, sorry.

techy, techy.

 

I understand what you are saying, but Chris (cmp9ball) was only answering a question that you posed from a collector standpoint. His response had absolutely nothing to do with the question posed by the OP. You might not think you are being critical, but that is my perception of your posts. Perhaps you should strive for more clarity in your future posts.

Furthermore, I don't see how having more than one of the same date/mm makes the coins less valuable. It might hurt liquidity, but shouldn't affect the value of each individual coin.

 

Lehigh96 & cmp9ball-
Well, I'm sorry if I was misunderstood, or misunderstood YOU, or offended in any way. Not my intent and maybe the tech stockjockey comment was inappropriate, but I come at most everything from the accountant's standoint LOL Sorry.

I've read some wacky delusional stuff elsewhere on the forums (and I don't feel any need to reply, scold, etc.) but people sure do mix 'the money thing' with 'the collecting thing.' I try to sort that for my own benefit, looking to understand more about numismatic investment value (whatever it might be.) Forgive me if it sounds crass or vulcan, but that's all.

Having one of more of the same date/mm doesn't make the coins less valuable per se, but I don't presume that someone buying any collection necessarily wants to keep ALL anyway.
The effort of trading/selling will probably entail loss on too high valuation - hence my comment about 'discounting' that.

Again - my prism is more 'Buffett' than 'lover' here, talking about/ debating "What its worth."
Regards.

 

I can be pretty technical myself being an attorney and some of my posts are taken harshly and I have apologized in the past myself. I am trying not to think so much as a lawyer when I post - it makes it more fun that way.

 

Agree 100%

 

Thanks, Paul!

Chris

 

I must also agree. I have a thing for 1976, especially the quarter, so I have many examples and plan on acquiring many more just for the fun of it.

 

A 79-S is so liquid having a few or a hundred or 300 won't hurt the market. I have about 130 PL/DMPL coins, if I sold I can say with some confidence the market would eat them up and not care about the amount of DMPL/PL's being put out there. They are mostly different dates but there are years with 3-5.

 

Oh I agree that having multiples wont hurt the market. I was simply trying to point out that it would probably take longer to sell 20 coins individually than it would to sell one coin, therefore hurting the liquidity of the coins.