Help!!! Should I buy an 1885 CC Morgan MS64 for $835.00

$800 to 1,100, that would take a couple of hours! If you are seeking a CC mm, one of my favorites is a 1880/79 Vam 4 rev of 78...I purchased one in MS63 for 635.00 last Feb.

 

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Drool...

 

It seems like a good deal for MS64, but it's a low 64 so I'd pass. If you pass on one of these coins, it won't be too hard to find another.

 

A very common date and many are available, but that one is not one I would pick...I also would like one, but it hasn,t found me yet. These won,t be going up much in value in MS64, so have patience in locating the right one. I also agree that in a graded GSA holder it,s a much better investment. I,m probably holding out for one in 65 also...for another couple hundred bucks it,s a better buy and nicer to gaze at.

 

Aside from CC's, another you might want to consider in that price range is a '92P...a low mintage (1,036,000) and scarce in mint state. In MS64 should be right around $950 to 1,000...another one which requires cherry picking. Good luck on the hunt.

 

1036000 isn't exactly low, but the coin does get very high priced in 64 and the jump to 65 is huge. A 64 that looks more like a 65 is a good choice.

 

I agree, but low in comparison to many other P's...and MS coins are little hard to find.

 

That's a nice coin, Cascade!

 

I wanted to revisit this situation I was in when I was about to purchase this coin then pulled the rip cord. I started collecting in Feb. of last year and have only been purchasing coins under $15.00 (modern silver proofs, mostly Kennedy Halves). I did purchase a 1897 Morgan (P) for $35.00 raw. I also Purchased a PCGS MS64 1887 (P) for $75.00 because I wanted a slabbed coin. I have a very modest collection but now want to expand a little and I have a better financial position this year. I like Morgans and Walkers, not very unique as far as coin collector's interests go. I am just afraid of buying a bad coin like this one in this thread. I was told to not buy the slab but the coin and that is what I did and ended up not buying. How do I get better at grading and feeling comfortable with my larger purchases?

 

You get better by experience and time. The effort you put in will directly translate to the end result of your knowledge base. The thing is, making mistakes is a huge part of learning. The risks you take that both turn out good and are losses make you better. The losses more so unfortunately but that's just "paying for your education"

Sticking with nice coins that are CAC stickered for better or bigger purchases while your knowledge base is still in its infancy will help prevent loss or at least limit your exposure.

If you have a week or two free in June I highly recommend going to Summer Seminar in Colorado Springs. It costs a little over $1k per week for the class, room & meals (you can only do 1 week of you want) plus the cost of the flight. It is well worth it if you want to jump start your coin knowledge. I suggest taking the beginning grading class the first week and the Morgan dollar class the second week. The knowledge you will gain and the people you will meet and make friendships with including some of the top names in numismatics is invaluable

 

Thanks for the Info, I will give the class some thought, I only live an hour and 15 minutes from Colorado Springs too.

 

That's cool. The SSDC usually gives away a free scholarship for 1 lucky guy to attend the Morgan dollar class. I won it last year. Maybe @messydesk can chime in with whether it will be available this year or not. If so, and you can be confident you will be able to attend, I suggest entering. You do need to be a member of the SSDC for consideration of the scholarship (& ANA to attend) however, but those costs are minimal.

 

The class will be offered this year during session 1 (June 17-21), and the SSDC is again offering the scholarship.

 

My Coin Club has a scholarship too. We're right next to Colorado Springs.

 

I once received some good advice from a very experienced numismatist and deal. he said.....

"David, if you aren't making mistakes, you aren't buying enough coins!"