Some of you may know that I like to buy NT Morgan dollars. Well the stores I go to are running low since I've being buying them up. Recently they are beginning to raise the price of the few pieces they have left. Now every time I check ebay it seems that there is an unlimited number of toned Morgans. And on top of that the prices are always cheaper than the stores. Now I know that a b&m store can't really match their prices with ebay, but if I can save money why shouldn't I? The problem is buying from ebay can lead to many things like getting mis-leaded, not getting what was pictured, fake coins and lots of other things that may happen. On the other hand both stores I go to have very honest and experienced dealers. Though the coins are usually priced higher than ebay, they are accurately graded and well protected. What I'm really asking is which one would you prefer and would recommend others and I to do? Buy online and possibly take a risk or pay extra by buying from a b&m store so you can see the coins up close first? Thanks for any advice.
Both. There are several shops in my area, and only one of them that I like/trust to do any business with. I think that just like you would shop around for a local store you like, you should shop around for an online dealer you can trust. There are several very well respected dealers on this forum that have an online presence, LostDutchman, Mark Feld, just to name a couple. Just remember if you are going to use ebay, to always check feedback, return policy. And if you are going to bid on Teletrade, Heritage, or GreatCollection, to make sure you understand the buyers fees, taxes and shipping costs before bidding on any item.
Because of shipping costs, eBay and paypal fees, not always, but I have been finding cheaper coins at my local dealer. Like bigjpst mentioned, just like B&M stores, there are trusted ebay sellers as well. I always check the negative feedback and I won't buy from someone that doesn't post high quality and clear pictures of the coin i am interested in.
You didn't specify whether these coins are raw or certified, but I'm assuming they are raw because buying toners certified by a reputable TPGS shouldn't be difficult online. There is too great a risk that raw coins sold on FleaBay are not what they are advertised and/or the photos have been juiced to mislead buyers. If your local B&M is, in fact, grading them accurately and selling them raw, you should try to negotiate a lower price because it would still be up to you to foot the bill to have them certified (if you wanted). Whether you do or not is immaterial, and the shopowner doesn't need to know that. If it were me and the owner didn't want to come down on the price, I would be looking for another place to buy coins. I would simply tell him, "Well, it has been pleasant, but I can't afford your prices, so I will look for another place to buy them." If you have been a reasonbly good customer, he should want to try to keep your business. Chris
Yes they are raw coins. I'm not big on getting my coins graded at least not yet. But the coins they have are all graded by themselves as MS63. Even though I'm not the greatest grader they do look it. My biggest concern is that buying toned coins online, especially popular coins like Morgans might lead them to be AT.
Whenever anybody mentions buying coins on-line they automatically think of ebay. But there are many other sources where you can buy on-line and never go near ebay. A trusted and respected dealer is a trusted and respected dealer whether he has a shop in you home town or if he is on the other side of the country. But that is the key, you only buy from trusted from and respected dealers, on-line, and then you don't have to worry about the coins being AT any more than you do if you buy them at your local shop.
Icerain, I see that you are in New York. I would think there are probably alot of coin shows up there. Try going to one. You can see the coins in person, and get to look at alot of different dealer's displays. I usually find better deals at shows than at shops too.
Thanks for the info. so is there any online stores that are good? I looked around but a lot of them only sells BU Morgans and they don't let you choose the dates.
To me it is easy as heck to haggle somebody down on the internet. I used to find 10 coins I loved, and copy and paste the same message "I love this **** but could only see myself paying ***. Any chance you could part with it at ***? It was a newbie tactic and rude, but I got good deals. Usually 1 out of the ten would accept the offer, and 2 would counter. I don't see you talking down somone in a shop as easily. The benefit to the physical location is that you can see the coin in hand.
I still think you should check out some shows in person But as for online stores, I think there have been alot of threads here about which online coin dealers are good. Try searching for them first, and if that doesn't help, try starting a new thread asking for recommendations. Good luck.
Beware of AT Morgans on ebay. A great amount of fluorescent pink in the toning usually is a result of AT according to the grading services. There's at least on seller that specializes in toned coins, especially Franklin Halves. They may look beautiful to some people but they scream AT to me. I've bought many coins on ebay but I look at the volume of coin sales they have done and the feedback score. I stay away from questionable sellers. I do have a b&m shop I deal with also. He's fair, willing to negotiate and grades honestly. Being able to see and hold the coin before buying can make you feel more comfortable in making a significant purchase. Where I live, coin shows within a hundred miles only happen about four times a year. I like to go to them on the last day as some dealers are more willing to negotiate then.
One of the things you can do if you see a coin you like at the show is to simply ask the dealer what he could take for it. Many dealers will automatically find a price point that is lower than what the coin actually priced at. Another term/phrase if he states the same amount of the coin, is "Well, can you move a little on that?". Or you can simply offer a slightly lower price or more in line with what you think the coin should sell to you at, and he can meet or counter you. I've done both of these things, and although I don't get any "fantastic" out of the world bargains, I usually can pick up a coin for what I think is worth my effort to buy it. Coin shows are great, I've now been to a few, and I will be going (hopefully) in Feb to Long Beach again. It's great to look at what the dealers have, and see what sparks your interest.
Well gory be if I were a online crook selling those just off the boat Morgans would I ever love to have you make your deals. Sorry but I could not resist the urge.:smile
You can start with quite a few of the dealers who are members of this forum And you can look at the list I have had posted for years in the Numismatic Resources section.
I don't do that anymore Lindedad. It has slowed down now to where I see a must have online about once every 3-4 days. It is usually under a buy it now or make offer. Most of the time it is gone in 5-10 minutes so I usually pay close/if not what they are asking. Recently I've been looking at coins on HA.
