I am looking at buying one nice coin, 1896-S Morgan dollar in ms64 for $6,000. What is your opinion on this buy?
$6,000 seems a little high to me, it is even higher than the PCGS price guide value which is inflated with all coins.
What KoinJester said. Is it slabbed? If so, which TPG? What does it look like? What are your plans for it (i.e. for investment or collection)? Have you done any due diligence? Checked auction records? Too many unanswered questions to give a semi-educated opinion.
Seems a bit high. $5500 would be about right based on my sources (catalogs). Do an "auction results" search; that would be the closest to the current real world.
Buying a 1896-S Morgan is a great idea, but overpaying for it isn't. The only way I could figure paying that much a premium on it would be if you're 100% sure if it will upgrade into a MS65 slab, then paying $6000 for it sounds like a really good idea.
These sell on regularly Heritage for between $4900 and $5500. One did sell for over $9000 recently, but at least two people must have thought it would upgrade. Yours sold for $4700 (with the vig) in June 2014. Paying $6000 for an investment that sells for $5000 and would net the seller $4000 doesn't seem like a good idea. With the buy/sell spread in auctions, you'd need it to appreciate to almost $8000 just to break even. If, on the other hand, you want an 1896-S for your collection, this seems like a nice coin, but not at $6000 when they top out at $5500 at auction.
750 to 1,500 survive in MS 64. I'm looking to hold onto it for at least 10 years. can anyone suggest a coin that may appreciate better than this one? Thanks for the help.
It's not that this coin won't appreciate, it's just that the coin can be purchased for a much better price...
Um, if you have to ask here if you should buy a $6,000 coin, maybe you should start a bit smaller until you learn the ropes?
if I switch it over to NGC is it a * $7,000 coin? 1896 S S$1 MS 64 Jun 2014 $5,750.00 Jun 2015 $7,000.00 21.73 %
It seems like the forum has spoken...If you like the coin and it makes you happy, then buy it I say. Beautiful coin by the way.
Perhaps people here should suggest a coin for you to buy for $6000 if what you want is "one nice coin". What do you like?
