Morgan recommendations please

I recently bought the Red Book for Morgan Dollars, and I am interested in getting a PCGS graded Morgan. I've only been I to Morgans a short time and my collection consists of some Silver Eagles, and a 1880S and a 1901O Morgan.

What would you recommend I look at in the $75 range?

Thanks!

 

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Welcome to the wonderful world of Morgans, Marvin!

There are a lot of common-date Morgans that you can find in PCGS MS64 slabs in that price range.......79-S, 80-S, 81-S, 83-O, 84-O, 85-O, etc. I'm suggesting MS64 because it will give you the most bang for your buck. It's usually a nice coin with lots of luster and very few detracting marks.

If you browse through your Morgan book, you will note that an "Optimal Collecting Grade" is suggested at the top left for each date/mintmark. Look for those that are suggested in MS65 so you can narrow your search for one grade lower. Naturally, the key dates, semi-key dates and CC mintmarks that are suggested in MS65 will be out of your price range.

Once you've compiled a list, you can start searching eBay to get an idea of what coins may be available. To start the search on your home page, go to "Advanced", enter "Morgan Dollar PCGS MS64" and select "Exact words, exact order" from the drop-down menu. There will probably be hundreds and hundreds of listings, but you can narrow your search further by going to the left side of the page and specify "BIN" and your max price of $75. Of course, you probably already know how to do this, but I'm covering all the bases anyway.

However, there is an oft-cited saying you must remember and that is "Buy the coin, not the slab". All too often, we have new collectors coming here who are so anxious to start buying and they want to know, "Did I do good?" after they've already committed to purchase. It would be far better for you to ask, first, before you pull the trigger. It's very doubtful that you will miss out on anything good. You should also keep in mind that just because a seller has a specific price listed as the BIN doesn't mean that he/she won't be amenable to considering a lower offer. If you want to contact them, be pleasant and tell them, "I don't want to offend you, but this is all I can afford." Trust me! It can work, that is, unless the seller just happens to be Scrooge.

Let us know how things go, and post links to any listings that interest you so we can offer suggestions.

Chris

 

I would heed Chris's advice and if you want a real pretty example with full strike and semi-PL surfaces then I would recommend and early S mint coin. Since you already have an 80-S, perhaps go with a 1879-S, 1881-S, or 1882-S which would give you the most bang for your buck price and eye appeal wise.

Good Luck!

 

Agreed!

Here is an 81-S that's in an old PCGS Rattler graded MS63. Some people would probably think it might upgrade to MS64, but I'd rather keep it in the old slab. As you can see, it has a nice strike and lots of luster.

Chris

 

I picked my first CC last week. Got a the 78 in AU 50 condition. It listed at $150 (this dealer is always proud of his coins), but I paid less. That seems to be a reasonable CC to go after. I have not really looked to see what other CC are catchable, but I just saw this one and felt it was in my price range.

 

Great advice, and something I have to admit not doing with a Morgan Dollar and got burned... A lesson I will most certainly remember..Actually just learned something myself from this post..~~ Thanks..~

 

Thank you! Sounds like a great bunch of advice. I've heard about something called "VAM". What, if anything do I need to look for, or be aware of regarding this?

 

My question to you is, "Do you really want to go there?"

VAM is an acronym for the authors of the book, "Comprehensive Catalog and Encyclopedia of Morgan and Peace Dollars" written by Leroy Van Allen and A. George Mallis. When the 4th Edition was published in 1991, there were about 1800 varieties. Now, there are more than 4000. Leroy is still authenticating new discoveries regularly.

Every Morgan and Peace Dollar is a variety. Even a normal die pair is considered a VAM. If you go to the VAMWorld website, you can browse the listings (if you really want to drive yourself nuts). There are certain VAM's that are considered scarce and command high premiums, but most are very common and don't command any premium over the normal value established by the condition of the coin.

One thing I should point out is that NGC & PCGS do not certify all VAM's. Those that they do are the 1878 8TF, 7TF & 7/8TF, Top 100, Hot 50 and the Hit List 40. There may be one other category that PCGS will attribute but I can't recall what it is. These groups do not in any way reflect upon the scarcity of these coins. Some of these are quite common and easy to find.

Chris

 

I would get the highest graded 80s, 81s or 82s Morgan you can get.
As those look very nice for their grade and are very resonable.

 

I'll post a couple of my favorite VAM's to give you an idea.

This first one is an 1885-CC PCGS MS65 VAM-4 "Doubled Dash" Hot 50 (try saying that 10 times real fast!)

 

This next one is an 1884-O PCGS MS64DMPL VAM-6 O/O Top 100....

 

Gorgeous 1884O

 

OK not trying to discourage you but since the lower grade common date Morgan’s are out there by the million or so in slabs. I will recommend that you do not buy anything until you have at least read the book.
Then I would recommend that you step back and do a lot of looking eBay, Heritage, Teletrade, dealer’s sites, and buy sell trade listings. In the mean time save up some money then think about looking for a MS65DMPL graded coin that lights a fire in your soul.
BTW this is from a collector that built a 95% complete set in the Everyman registry at PCGS and found that it is easy to lose interest in common or lower grade coins.

 

No disrespect intended and with appreciation for your accomplishments, but Marvin has already indicated that he has a budget of $75. With that, he would be lucky to find DMPL's in MS62, and I don't think he would be happy with those. Even MS63 DMPL's have many distracting marks contrasting the mirrors. As he grows his collection, he may consider branching out to DMPL's, CC's, VAM's and maybe even toners, but for now, I think it would be preferable to allow him to become comfortable with grading and recognizing the characteristics of the basic series.

Chris

 

Chris what I am saying is that just because a coin is at a certain price point is not what should be driving the collector to get it. Usually it is better to study a lot of the listed coins that are out there then go for one above what that which is common. Usually when we stretch to the limit we examine that which is available and spend more wisely.:thumb:

 

I like that 85 CC. Nice clean coin.

 

Point taken, but I still think that the driving force right now is his budget. Neither of us knows his circumstances, and it's really none of our business anyway. So, all I can do is make recommendations based on the information given.

Chris

 

I'm looking at, and considering an 1899-O PCGS MS64. Or an 1898 MS64. Thoughts please...

 

Both coins are right in your price range. On average '99-O and '98-P are pretty good years as far as strike and luster go (not as strong as the early S mint coins, but above average). Do you have specific coins in mind, or you're just asking about those dates in general?

 

No specific dates in mind. I am just looking thought the Morgan Dollar Red and am drawn to the low mintage of the 1898, for no particular reason except it seems to make sense)

I am open to recommendations though, I am more interested in making a sound purchase than anything else.

I've found a lot of coins I'm interested in, but realistically I am limited by my budget.

Now, even minutes later, the more I look and read, I am thinking about a 1879-S MS64.