Starting a Collection of Morgans

I was thinking of starting a collection of Morgan dollars. Any ideas on how to focus my collecting? Maybe by decade, or mint mark? Should I only buy graded coins? Do you think its better to buy an MS-65 for $300 rather than 2 MS 62s of 2 different years for $150 each? Do you try to get all of your coins in the same grade?

Tips on what to look for in Morgans to ensure that they are genuine, not cleaned, not circulated?

Just looking for some thoughts. Feel free to answer any of the questions. No need to tackle them all!

Thanks for your expertise!

 

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You will not get a complete set unless you put a lot of time and money into it. I just buy the ones I can afford, but my set will be missing 5 or so when I complete it.

Absolutely!!!! Many loose morgans are cleaned and some are even tampered with.

It depends on the date. Remember, when buying graded coins, dont buy the grade, buy the coin. You want a coin that appeals to you. You want a good-looking coin, not an ugly one just because of the way it is graded.

If you are a multimillionaire maybe. Some dates and mints will be harder to get, making this unlikely. Remember still, buy the coin not the slab. You want to buy an attractive high graded coin.

Some people will have a minimum grade though, like all MS.



Good Luck,
LouieLot

 

I should add, by NGC and PCGS only.

Other companies will often overgrade or grade cleaned or tampered with morgans. It takes a really experienced collector, I am not btw, to find an accurately graded morgan in a slab other than NGC or PCGS.

 

A complete set of Morgans is definitely possible. The general rule is buy the highest grade you can afford. There are many different ways to collect; you could go for the full set, a date set (1 coin per year), or by mint mark, just depends on your personal preference. I would suggest buy slab coins by the major TPGs, especially if you're going for higher grade coins.

Imo first I would start off with a few books to get a better idea of the series if you haven't already.

 

http://www.amazon.com/Guide-Morgan-Silver-Dollars-Official/dp/079482269X/ref=sr_1_4?ie=UTF8&s=books&qid=1262902972&sr=8-4

This is a good book.

 

I don't believe thats true. In fact, I have all but three for a complete set, and those three are expensive, but not out of reach. Maybe if you wanted everything in high MS grade and the proofs as well, then sure, you'll have to be rich.

Guy~

 

Raider + Coleguy,
You are right. I think I was referring to a MS set in my head. I should have thought that through a little more.

What I should have said was, "You will not get a complete set unless you put a lot of time and money into it."

 

Varieties

I believe that there are varieties for some of the years. Are these so rare that I shouldn't try to collect the varieties?

 

There are many varieties for every year/mint mark, they're called VAMs. Some have no premium, and some have HUGE premiums. VAMworld is a great source for vams: VAMworld

I would think a complete collection of every vam is pretty much impossible. But, collections of the Top 100, 50, or 40, or by specific date are possible.

 

There are varieties in I believe every year. You'll go mad if you try to collect them all. I don't think anyone ever has done so. But, it makes it interesting. Check out Vamworld for detailed descriptions of VAMs: http://www.vamworld.com/Morgan+VAMs+By+Date
Guy~

 

GSA Morgans

Can someone shed some light on the GSA CC Morgans relating to their container. Is the container completly sealed or is it possible for someone to insert a different CC coin. Have seen some on the internet but I am not comfortable purchasing without knowing if the container is tamper proof. Which then leads to the 2nd question, if they are tamper proof, how do you determine their grade if you cannot examine the edges and reverse.

Thanks for any insight

 

The cases can be opened, do a search on ebay, there's usually a few people selling empty cases. Btw you can see the reverse when the coin is in the case. You can also buy a GSA Morgan still in the case graded by NGC, so you know the grade.

Here's an example: 1878-CC VAM 11 GSA NGC MS63 TOP 100 - eBay (item 320469391858 end time Jan-07-10 17:33:02 PST) NGC puts a sticker on the top to help prevent against tampering.

 

Congratulations on collecting Morgans! I collect a variety of coins, but Morgans are one of my favorite series. I started out collecting what I liked in the series and bought the highest grade I could afford for each one. I especially like rainbow toned dollars. After I bought a few coins, I started to focus on some aspects of the series, like the 1878 8 tail feathers first issue, or getting an example of each mint mark, or getting a run of dates from a mint, etc. I bought all PCGS or NGC coins, because I found out early that buying Morgan and Peace dollars from some of those mail order dealers with huge double page ads turned out to be cleaned or lightly circulated. So I stuck to the slabbed coins and I haven't been sorry. I also like to buy some nice looking AU coins just so that I could handle them directly and not worry about wear. Sometimes, I even carry one as a pocket piece!

luilot above posted a nice link on Amazon to Q. David Bowers book on Morgans, and this is a great beginning guide to the series. In fact, I highly recommend buying the book first before you make a single purchase.

Most of all, have fun!!

 

I also recently began a Morgan Dollar collection. I try to buy the nicest coins I can afford. You will have to decide if an MS-63 is worth the extra $ over a 61 or 62. If the series picks up, and I feel it will in a few years, the higher graded ones will definately show a greater return. But if silver goes through the roof like many speculate, lower grade and common Morgans will prove to be an excellent investment as well. If you are serious about building a nice Morgan collection, I'd invest in a book that specializes in just Morgans.

 

There are a lot of ways to go. Some do try for a complete date and mintmark set. Best to look at the price guides and the budget before deciding on a grade, because as some others have pointed out, there are some expensive coins in the set.

Others start out with a date set, one from each year. Some focus on the Carson City coins. Some collect only Proof like and Deep Mirror Proof like coins. Some only buy coins with pretty toning. There are a lot of ways to go. As always, collect what you like, and enjoy the hobby.

As always if buying expensive coins, learn the basics of grading and pricing before spending the money (this will take some time). This goes double for raw coins, but even if buying slabbed coins there are a lot of ways for a novice to be taken to the cleaners.

 

Thanks to all for the added info. New to the hobby. Hope to expand into other areas but Morgans are my interest at this time. First books I bought were Q. David Bowers and Leroy Van Allen and A. George Mills the comprehensive catalogue of Morgans, plus one on grading standards. In the short term I plan on going with slab coins from PCGS and NGC until I am more comfortable and get some experience. I have been told by several people that if I can afford it, try to stick with MS63 or higher. That is where I will put most of my budget but I am sure I will find others that for what ever reason just appeal to me. If I do try to pick up some GSA Morgans I will consider what Raider34 indicated and look for the PCGS or NGC certification. I am not looking to buy a $400 coin for $100, I just want to try and not buy a $100 coin for $400.

 

That would be wise. And, not to throw another wrench into the works for you here, but it is possible to have a very nicely matched set without having all the coins in the same grade. A few will disagree, saying thats not possible, but with a little time spent searching and learning the series, you'll find it's not only possible, but a lot more fun than just throwing a graded collection of say MS 63's together that regardless of whats on the label, the coins will never match as nicely.
Guy~

 

I've been seriously collecting Morgan's for a while now. Initially I bought a Dansco Album and filled it with Raw (mostly circulated) coins. Then I decided to sell the whole lot (and took a bath because I was a newbie) and start with slabbed MS63's, soon after I sold most of those and worked up to 64+ (non-key dates of course)

I am at the point now where I am now buying as many 66's as I can afford, but I am selective, the strike has to be decent and as blast white as possible. This provides quite a challenge but I'm having a lot of fun finding that "perfect" coin.

Most important advice I can give (which I learned the hard way) is know your coin/series. Read as much as you can, and learn how to grade your coins. I wouldn't recommend buying raw coins to start off, until you learn to grade well enough.

 

I made my first purchase

I decided to focus on mint state Carson City Morgans. I bought my first one today: a PCGS MS65 1883-CC. It's a beauty.:hail:

I believe I got it at a great price from my local dealer.

I am hooked! I never wanted to buy graded coins before, but it is reassuring to know that you are getting what you paid for.

I tried to take a picture but failed. I am sure there are threads on here somewhere about photographing coins. I will get around to it ASAP.

 

Great start, keep us posted!