The Official Morgan Silver Dollar Thread

Nice...Ebay ? Online auction ? LCS ? Show ?

Congrats, it's a really nice MSD.

 

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EBay best offer. Lucked out on the price.

 

Nice...sometimes you get lucky...how much did they knock off ?

I've had a few accepted where they cut by 10-15%, but a recent 'stink bid' on a Morgan about 35% below the asking price got KO'd.

 

15%, and the price was on the lower end of greysheet retail ( for a non- CAC coin). I basically paid straight 65 price, without the plus, and CAC).

 

Great job !! Do you subscribe to the CDN Newsletter or check online ?

 

MD, in the year or so since I got into Morgans it is my GENERAL FEELING (not iron-clad) that commons in high grade with/without CAC have sellers that are flexible.....BUT.... if the Morgan has PL/DMPL/DPL (let alone GSA orignal) they are more resistant to cutting the price.

More Unique = More Likely to get that 1 buyer who will pay up.

 

I subscribe, and have friends who subscribe---two sources.

I would agree to some extent. I find that high grade Morgans with or without CAC will bring in very good money. (Nice clean attractive coins over MS 65). Toned ones, if attractive will definitely bring premiums ranging from 2-10x book value. Most common for toners is 2-4x above greysheet. PL and DMPL or + and * common dates always generate interest, and the key factor, of course, is eye appeal. High grade DMPL and PL Morgans are low population compared to mintages. I also find that so many of the cc dollars have gotten to be so common that their premiums in less than 65 grade are DROPPING. Of course, I am referring to 1878cc and 1882-1884cc, not the more difficult dates. Moreover, outside of the GSA holder, they are absolutely plentiful beyond belief. Just take a look at eBay, and they are a dime a dozen.

 

But even the common Carson City's will sell for a pretty premium IF they are GSA and/or PL/DPL/DMPL, right ?

If you check off too many of the 'special' boxes -- CC, GSA, PL/DPL/DMPL, frosty look, black mirrors -- the asking prices can be 4 or 5-figures.

 

Yes, eventually it gets out of control. The key with mid- high grade gem Morgans is to look for good deals on attractive coins.

 

You have touched on a good point. High end morgan buyers have to navigate in a world of extreem knowledge of intricate details. Like Morgandude11 said, it can get out of control, but that's half the fun if one has the knowledge

 

But unless you find someone who's dumb on the market value -- not likely -- or someone who needs cash ASAP (very rare) -- or someone who bought the coin super-cheap and can sell it under market and still make nice $$$ (and why should he/she give away $$$ ?)......I would think it's very rare to find a 'good deal'. Not saying someone won't negotiate on price, but if I see a nice coin on Ebay and the guy is asking 20% over market and I contact him/her and they cut by 15%, I'm basically back to FMV, not much of a deal.

Yup, but I may run some potential buys past you guys to make sure I am not getting hosed. Need to be able to check the SOLD or COMPLETED acutions on Ebay more efficiently and double-check with Heritage. Maybe I'll subscribe to CDN, too.

With Saints, the differences coin-to-coin are less so the market is easier to gauge. That's what I am used to so I'm still getting up to speed on Morgans. But you guys have helped alot, thanks !

 

I dunno. I find lots of bargains on eBay for really nice Morgans. One has to know what to look for, and avoid lowball bids like the plague. That ticks off sellers big time. It is not rare at all to find a good deal--find a dealer who has a lot of inventory and wants to sell it.

 

Gotcha....I think it's because I don't know the market for most MSDs and am just still getting up to speed. Aside from 1 or 2 Morgans, I can't guess the FMV off the top of my head for most years, characteristics, mint, etc. With Saints, I can probably do it for MOST of the entire 1907-1932 run (not that I need to know some of those later or rare dates unless Powerball kicks in soon).

But I am getting there with Morgans, MD !!

 

I think you have hit on it, and I have said it to many prospective new Morgan Collectors--even ones experienced in the series. I am glad that you are getting to know the Morgan market, as it is a very exciting one. However, there are so many options, variants, grade possibilities, and combinations of factors that it is fairly complex. Just keep doing what you are doing---learn the series, as it is very different from the Gold coins, many of which are bullion, and valued as such. I have had many years of Morgan collecting under my belt, and even now, I make mistakes. Generally, there are good deals to be had, but I would avoid "stink bids" as much as possible--few dealers will ever sell for a lowball, and I honestly believe in a "fair deal" for both sides---remember how you would feel if you were the seller, when you are buying. My rule of thumb is not to go any lower in offers than 15% below a fair market value, as it would piss the seller off, and kill any possible good will. That is a good place for offers and counteroffers to take place. In the past 5-6 years on auctions, eBay, Heritage, David Lawrence, other reputable dealers, I have never missed on an offer/counteroffer situation, as I make fair offers for both parties.

 

Here's what I am talking about guys:

http://www.ebay.com/sch/i.html?_from=R40&_trksid=p2055119.m570.l1313.TR0.TRC0.H0.X1884-CC ms66 dmpl.TRS0&_nkw=1884-CC ms66 dmpl&_sacat=0

The first coin up has the auction ending soon. It's an 1884-CC MS66 DMPL. Guy asking $3,795 or BO. Note that there are a few others with the same characteristics down the list in MS65, 64, and 63 grades. Price drops alot (at least the asking price) as you drop down from MS66, as Morgandude and JCP have noted here.

OK...I hit the SOLD button on the far left and I see Liberty sold one a week ago for $2,250. I don't see much difference between the 2 coins (same exact labels pretty much).

So....assuming I wanted the 1st coin (I don't but play along)...what would YOU guys bid ?

Do you bid close to $2,250 which is 40% below the asking price ?

Maybe the guy is deliberately high expecting to cut bigtime ? Or maybe before bidding you should contact him and say "Hey, how come you are asking more than 60% over recent sales ?"

I've done both in the past: bid way below (at past completed sales or what guide books guestimate) and also asked why someone was way high. Answers I got include some differentiating characteristic which explains the higher price (sometimes legit, sometimes BS) and others saying quite frankly they are into the coin at a high price and can't sell at the current market.

BTW, if anybody has any quick comments on the other auctions for the 1884-CC DMPLs are fairly priced or way out of line or if the coin is over/under graded or has a killer problem on the obverse, feel free to chime in. I'm not bidding, just trying to learn.

 

The ones I have seen recently are running overpriced.

 

Gold finger, you seem to care too much about the price. I want the nicest PL/CC/rainbow Morgans and only my gut feeling tells me if the price is right or not. Eye appeal is more important than making "a good deal" in my opinion...

 

Agreed...and I am willing to 'pay up'....but I do have a budget ....big difference between wanting to pay about $500 for a coin and then going up to $850 for something really good in the grade....and then looking at coins that are $1,200 - $1,600.

Agree completely on eye appeal. For the $$$ I am spending, I better like the coin, the hell with what is on the label.

 

I understand there are 2 types of 1879-S: one is a reverse of 1878...the other is a reverse of 1879. I have the latter; any pricing difference between them ?

 

second last row is 1879-S rev of 78
the last row is 1879-S rev of 78 PL

...as you can see, there's a significant difference in value to the coin with the regular '79 reverse.