Best way to buy quantity BU morgans?

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An inexperienced coin collector such as yourself should really listen to some of the guys here. They just want to help. Its one thing to buy junk silver and put it into a vault, but when you start buying bu coins you should really learn to grade and shop around. Buying bulk coins in a bag and expecting them to be all ms63 or 64 is not likely.

Your sources are all out business now. they havent replenished their inventory in the last 10 years?

That being said, where do you see yourself in 5 years?

 

GDJMSP

thanks for your direct help, and I appreciate your earlier post. I knew of coinnet from a dealer friend, have yet to get on there, but the certcoinexchange is something I just found a month ago and have yet to really look at.

also thanks for the thoughtful post some of you made. I was really hoping someone would say "hey my name is XX , In XXX - give me a ring Ive got a few rolls" or "hey talk to joe over at XX coins, hes always moving morgans through"

oh well.

 

Silver. I don't hangout there much but I might make a notice on the CU forum. I once put a request for 100 VF-XF BCH's and got about 4-5 PM"s.

 

Hey silvercent, welcome to CoinTalk and good luck stacking!

 

A Formidable Challenge!!

Now that you've received guidance from others, I'll share my insights, as I've had a similar goal/odyssey for years.

I initially was able to obtain "mint state" rolls, but found as dealers labeled 90% silver coinage "junk silver", collectors thought that they could also start accumulating the desirable dollars at times face, similar to other 90% coinage. I found accumulators/collectors to actually be quite irritated when informed that the likelihood of purchasing silver dollars, especially "mint state" for the same ratio as other silver coins, was probably very remote.

I purchased many raw rolls of "mint state" Silver dollars at a reasonable elevated price relative to other 90% Silver coinage, in several venues. Seemingly, eventually collectors realized the value of these treasures relative to moderns, and started bidding appropriately.

With the advent of "quality" counterfeit 90% Silver dollars, I purchased numerous date coins from China to evaluate the quality of their "premium coins". Upon investigation, I realized that the "premium copies" produced on surplus U.S. minting presses with modern technology processes/equipment could be produced in states of condition which I perceived to be generally virtually undetectable from authentic coins.

Since collectors were paying an appreciable premium for the raw "mint state" Silver dollars, and questionable origin coins were migrating into the marketplace, I investigated alternatives.

I generally found that U.S. buyers seemed to ignore low grade "mint state" TPG certified Silver dollars, wanting raw lower grade, or certified higher grade Silver dollars. I determined that I often could purchase certified "mint state" coins for equal or less than raw coins.

I collected a comparable quantity to that which you desire, of TPG certified coins. I found that buyers have realized the value of lower grade certified Silver dollars.

I occasionally find a bargain in generic Silver dollar coins, but it appears that American coin collectors have come to appreciate the desirability of the U.S. Silver dollar.

I've found a ready market for coin sales when I offer "loss leader" Silver dollars along with 90% halves, quarters, dimes, at less than current melt "times face" published values. However, I found replacement pricing far in excess to that often touted in posts on this site, and have offered to purchase all that can be delivered at close to melt. I've purchased a few offered at 25 times face, but found them to be generally unmarketable, and gave them to customers at 18 times face.

Recent/Current? C.D.N. "Grey Sheet" wholesale dealer pricing for common date VG/better condition rolls of U.S. Silver dollars is greater than $30/coin.

Just my humble experiences/observations, with an offering of best wishes for finding the elusive Silver dollar competitive treasure trove. :thumb:

 

Silvercent... where are you located?? I know dealers out here with bags of morgans that would probably let you cherry pick among common date BU's, but again, we're talking about BU MS 60+, but probably nothing over MS64.... thats a whole diffrent animal.

 

ocjoe,

thanks for the thought, but over in the south east.

 

You may consider attending the World’s Fair of Money this August 7 - 11:
http://www.worldsfairofmoney.com/plan-your-trip.aspx

Unfortunately, you may have just missed the FUN summer show earlier this July.

 

You can try this:

http://www.goldeneaglecoin.com/Dollars/Bulk_Dollars

 

You may consider diversifying your investment amongst other metals, or at least different types of silver. To each there own I guess, we all have different goals. There are tons of places to find what you're looking for though. You can expect to pay 13 to 15 over in most cases for pre 21's in BU.....that's if you buy in bulk.