I want a cc morgan!!!

Okay, So i have my eyes set on a nice CC Morgan, Preferably PCGS. I don't have enough yet, but i am saving....If anyone knows of a good deal for one let me know please I really want to add a nice coin to my collection.
(The problem with buying an expensive coin for me is my parents don't see it as justified to purchase, especially in this economy)
Thanks

 

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Good luck! Prices are way down on CCs right now so go for a high grade if you are going to get one.

 

I'd go for an MS64 if you plan on getting one, since MS63's and below are quite common

 

I picked up a 1884 CC GSA in about MS63 for $160ish.

 

Okay MS64, I'll keep saving I just think the coin is so cool with such a great story I would love one in my collection...If only I could pay less It'l be hard explaining to my parents why I want to spend $200.00 on a coin in a bad economy lol

 

If the economy was great, that same coin might cost you 3-400 so I don't know what their beef would be. Be thankful stuff is down. $200 is the cheap price. If you've got any money to spend, a down economy is the time to take advantage of the cheap prices for most people. Save your money when the economy is great again and prices go back up.

 

I mean that makes sense to me, but my parents don't see things in the same light per-say

 

When it comes to coins, $200 is nothing, compared to what you can spend. My parents don't understand it either, why I spend some $250 on a gold piece worth $2.5 in face value. They think if the coin is worth $300, then I should buy it for face value, they will never understand numismatics and key dates, everytime I show my mom a morgan, she goes, "They all look the same, you just bought that coin, why did you buy another"
Yes, $200 is a lot of money, to me anyway, it takes me months to save that kinda dough up, and if I didn't sell on ebay, it might take me a whole year, just to save up $200
I'd go for a MS64, since they are selling near 63 money now.
Good Luck, and I'll be on the lookout... (Also, if you save up around $270, you can get a MS63 Proof Like Carson City Morgan) But choice is all yours. MS64, MS63PL..Whatever you want

 

Well, I don't have a kid yet so I don't know what lesson I'd be trying to teach them if I did. I'm sure the theory is that $$ are hard to come by so save them.

I think I'd rather have my kid buy what makes them happy while they have the luxury of living at home with no bills. As long as they understand that luxury.

All I know is, with the Fed printing trillions of dollars per year with no end in sight, you can guarantee the buying power of that dollar in your pocket today is dropping faster than the raises you'd be getting if you were employed. Saving dollars is a losing proposition. You have to put them somewhere.

A lot of people during my grandparents time thought it was crucial to save cash after the depression. They didn't realize how much of a losing proposition it was.

Here's an example. Both of my grandfathers passed away about 15 years ago. Despite the fact that both of them had modest incomes their whole lives, they surely saved $$ in a saving or what have you. Say either one of them had $1,000 sitting there from the 70s or 80s. They would have never purchased gold with it at $100 per ounce. $1000 was a lot of money! That would have been blasphemy to *WASTE* $1,000 on $100 an ounce gold back then!!!

Instead, that $1,000 of *old* money was likely saved. Somebody inherited it. And it may have been spent on a car repair or a small tv in 2005. Then it was gone. When it could have been sunk into gold which could be worth 10 grand today. That's just a hypothetical example. Buying products now because they cost less than they will in the future doesn't always work in some cases. For example, electronics. 1,500 will buy a lot more tv now than it did only 5 years ago.

But the point is, the dollar is losing buying power. Stashing away a $10 bill in a piggy bank as a kid is foolish. That could buy 4 gallons of gas today. But it might only buy 1 gallon of gas by the time you break it out of there.
A lot of people just don't get this concept, despite the fact that it's been slapping us all in the faces for years.

 

Forgive me. The historical charts show gold averaged $50/oz from 68-72. That 30 year old $1000 could have purchased 20 oz. of gold at one time. But, it was taken for granted the whole time and maybe not as accessible as it would be today.

Many people during that time could have came up with a spare grand during those years and purchased 20 oz.

Very, very few people could come up with 10 grand today to buy HALF that. If you notice the trend, eventually, very, very few people will be able to purchase even one oz of gold if they wanted to.

On a lesser scale (in some instances the same) coin prices reflect the same thing.
For various reasons, including inflation, Bowers says a 1936 proof set had a market value of about $100 in 1954. It increased drastically then dropped back to 300.00 in 1957 "with scarcely a buyer in sight". Many people tried to dump them and get out, losing their shirts. A gem 36 proof set is worth around 15,000 today.

In May 1951, a $2 face roll of 50-D nickels went for $6. A lot of people wouldn't have wasted the money on that. A set of BU Washington quarters, 32 to 51 was running around $77.50. Most people wouldn't have wasted 77.50 on that back then either. But gem 32-D's by themselves are worth up to 10 grand today.

Not every coin you pick out is going to have Cinderella stories like that. Most will not. And there will be peaks and valleys, booms and crashes. Just buy what you like and hold and see what happens. To a lesser extent, most stuff will cost more the longer you wait.

 

Tell them that the coin dealer has to eat too
The best thing is not to tell them you want a 1909-S VDB - when I finally found the one for me, I had saved up the money (by buying rolls of coins at the bank each week) but it was still over $700!

Speedy

 

Well I wish I knew the next coin that was going to jump like that I would spend all my money on it! any ideas? which coins/coin are you hoarding.

 

That's probably because of the bad economy too. The reason prices are down is because money is tight right now for everyone. People with disposable incomes can take advantage of it...but people who don't need to save. It's likely that your parents are a little worried about money right now (as everyone is) and they feel that $200 on a coin is an expense that is not necessary.

At times like these better deals can be found but it's more important than ever to really look and see if you can afford it.

 

Once are money system crashes, and people start realizing that PAPER MONEY is worthless, silver and gold will go sky high...And that $200 coin purchase, will look like a real smart one

 

Our money system isn't going to crash T$, plus...if it did it wouldn't be that smart to be buying key dates. The key would be to pick up metal as cheap as possible. A $200 coin purchase for less than a ounce of silver would not have been the way to go.

We are in a recession, economies are an ebb and flow. It will recover.

 

Hopefully...
But you have to admit, what we are using now, is worthless paper...It is not worth more than a couple of cents, it is paper with ink.
Yes, it is not smart to pickup key dates, if everything did crash, but at least you'd have something to use if you were in rougher times

 

That's all it's been for a long time. We haven't had our paper backed with anything else for decades. It's backed by the faith in our economy. When our economy dips it loses it's value a bit and them when it recovers it is valuable. We tend to forget that your economy has been bad in recent history. It dipped in the 1970s and the 1980s and recovered just fine. We had such a good long run in the 1990s that we got used to it. Now, everyone is panicking. In a few years, things will be on the rise again and everyone's tune will change. The key right now is not to waste necessary funds on things you don't need. If you don't have the disposable income to spend right now than don't spend it. Times like these are the worst times to accumulate debt in any form.

 

I 100% agree we should reinstitute the Gold/Silver Standard that was smart!

 

It didn't work last time.

 

why?