Joined for the skinny on investing in slabbed Morgans...

That's better... the old saying that one "catches more flies with honey than vinegar" rings true. Then, throw in a little sincerity and you're more likely to be respected for it.

 

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I wasn't trying to start a pile on. I just wanted to make sure that you were aware of what you did there... Because from the post it seemed like you weren't.

 

Agreed. I think what we're all saying is that we are PASSIONATE about coins here--I don't know any regular members who are not passionate. I really like and respect the folks here, even the ones I argue with at times. All we were getting at was to be respectful, eager to learn, and be passionate about a great and all-involving hobby. No malice intended.

 

now that the smoke has cleared, the dust settled, the crick running clear again...
back to the o.p. I suggest you obtain a copy of Bowers' "Experts Guide to Buying and Investing in Rare Coins" and read the whole thing at least once. If you like Morgans, I suggest Bowers' guide book on that series as well. Good starter texts. Once you have a better idea of what kinds of Morgans you want to collect (keys, mintmarks, DMPL's or whatever) search the coin forums' archives for threads on topics of interest. Study a lot of coins (in person if collecting mint state coins) to understand what original surfaces and "good for the grade" look like. Hope this helps. If I had done the research before I started buying I would have saved a lot of money! (I'm sure a few other members have had a similar experience).

 

100% agreed on almost every point. Education and knowledge are the real keys. Morgandude has spent a lot of time educating himself on the toned Morgan market, therefor he can profit from this knowledge. Knowledge is the common denominator of people who either make money or at lose a lot less than normal on coins. An example I have is I bought the "new" WB book on SL halves back when it was new. As a result, I had access to information most dealers didn't. I was able to cherrypick a lot of doubled die SL halves the next couple of years at common prices because of this knowledge.

If you like Morgans, great. However, you had better read up and really become an informed collector if you wish to have a better than average chance of making more money than average.

 

And to add an example to your example, not only did it add to your knowledge of the series, but were you to sell the book, it would in addition return a tidy profit. The point is that buying quality reference material can, in certain instances, offer benefits beyond the knowledge held within.

Mr. Sparrow makes a good point in that Mr. Bowers' Morgan guide is a fine and affordable starter text, but is far from a definitive reference. While certain specialized books may, especially to a newer collector, carry a price that seems rather steep, in the long run they can pay for themselves many times over and in fact turn out to be an undeniable bargain.

 

To me, this book is an ESSENTIAL addition to the library for anyone seriously interested in Morgans:

http://www.barnesandnoble.com/w/gui...s-q-david-bowers/1008460658?ean=9780794836856

ANYTHING written by David Bowers on Morgans is extremely valuable information.

 

$4,000 a month in advertising? What is the percentage out of your profit for that?

How "fair" are your offers to buy for that cost you are spending to get traffic in the door. I always thought the best advertisement is word of mouth & repeat customers.....which cost nothing.

The one local LCS which I actually patron out of many in my area spend nothing on advertisement. You never see any ads for them. They have been there since I can remember. They don't post great coins that walked in the door on a coin forum. They don't host a coin show. They don't moderate a coin forum to which they are a monetary contributor. They don't give advice on a coin forum & certainly don't list items for sale on a site in which they are a moderator.

Give the kid a break. I am sure you should throw him out of the store anyways as he probably couldn't afford the markup or the loss on what he wanted to sell.

 

So, you are trying to throw under a bus a man who takes time out his busy day to make a radio show to help collectors, who spends time sharing his knowledge for free to collectors, who financially supports a site that is a great resource for cillectors, and who lists items for sale, (at the behest of collectors here who wish to buy coins he gets in his shop)? Then you hold up for idolizing a dealer who does none of this giving back to the hobby most likely?

I cannot think of any dealer who gives back to the hobby more than Matt, and I personally take offense at your insinuations.

 

Sorry, about the response I was expecting. How do you know the one LCS I frequent doesn't encourage collectors, have a coin club for youngins and offers fair buy prices.
If you are spending that amount to get traffiic in the door it has to be made somewhere. I guess off the backs of collectors that he cares so much about.
Is he making a nice profit? Of course, that is why he "gives back to the hobby". He is giving back to increase his sells & make more.

 

Matt's demonstrated his character on this site for years. Your two posts in this thread say more about your character than his, I'm afraid.

 

Sorry, but your completely wrong In every aspect. Matt is an encyclopedia of information and learning ever since I joined this forum, And he chooses to go out of his way to share it to all on this forum. and I really think he has quite great price's on his merchandise, I mean really good. Your post is offending.

 

Fine

 

Morgandude11 has very nice Morgans...that is a fact...he is also somewhat of cyber bully at times. IMHO he has a real problem admitting that he doesn't know everything, simply because he truly thinks he does. Maybe it's just the way he comes across using his keyboard, as he could really be a nice guy for all I know. When I spendt time here on these boards he would always be the first to call out other members coins as cleaned or flawed in some manner...and a couple of times regarding when he tried it with me, he was proven dead wrong. Speak freely and enjoy the hobby but don't let yourself get intimidated or cyber bullied by Morgandollar11 just because he is good at it. I mean no harm and I do not dislike him as a human being, but knowing is half the battle boys. Carry on

Erik

 

Thanks for the kind words guys. I don't feel like a response is needed on my part but I'm going to give it anyways.

I have always worked on volume. I pay much more than my competitors (last week I beat one by over $1,000 on a $3,000 deal) and I sell cheaper than they do as well. My volume is where I make my modest profits. I'm in business to be successful but to me success isn't just measured in dollars and cents. It's about doing honest work for an honest profit. I would say that %70-%75 of my business is referral based but being in business for yourself is hard these days. I'm in a big city with lots of other "coin shops"... Which are mostly just fly by night scrap buyers. My actions and reputation speak for themselves both here and in my shop.

 

How do you know Matt does not pay better than others while still affording advertising? It seems you are assuming this $4000 is coming out of someone's pocket, while that is not true. A good dealer can pay better pay prices, sell at lower prices, all the while being able to advertise and heaven forbid earn a profit. It's called a good reputation and volume. I know an awful lot of dealers, good and bad, and the smart ones, (both good and bad), know advertising is key to profits, not just an expense. All of the best dealers I know, some large firms other one man shops, advertise to a degree.

So, I agree with giving the kid a break. Once he stopped defending his actions, we dropped it. I believe you will find this site abnormally blessed with nice people overall.

Btw, welcome to CT Heater. I hope we trade posts soon in better circumstances.

 

You sure sound like you dislike me. Calling me a cyberbully is insulting. I tend to be blunt, and express my feelings--no point in pussyfooting around. It is my nature to be direst and straightforward. It isn't my intention to be either insulting, nor omniscient by any means. Really, if you don't like what I have to say, why not use the ignore feature--nobody told you to respond in an accusatory way.

 

Back to the original post as I didn't see this last time I was on as to Morgans I realize their common coins so my goal as a collector is to get all the cc Morgans in ms with probably the 1889-cc as I won't pay 5 figures for it so I'll probably settle for au otherwise I collect spectacular ms toners of any date I buy on color alone I started buying Morgans as an affordable available alternitave for when I couldn't find or afford the coins I really collect (early dollars and trades) and I needed a buying fix I found them to be fun and I love the rainbow toned coins that seldom occur as spectacularly in other denominations

 

Obviously Heater has some kind of grudge with coin dealers in general . Too bad he feels the need to pick on Matt who I have dealt with and was completely professional and will do business again . We need all the Brick and mortar dealers as honest as Matt that we can get .