I am currently looking for a Lafayette Dollar, likely in the AU55 to AU58 range. I have done some research (Gray Sheet, internet, browsing) and see that many of these dollars below MS60 are rather ugly. I saw some at MS60 and above and they are appealing but way out of my budget. There are many out there, but nothing really worth purchasing. Any thoughts or wisdom on purchasing these?
Have you checked Heritage? http://www.ha.com/c/search-results....me|1&Nty=1&Ntk=SI_Titles&Ntt=lafayette+dollar There are a lot of 'details graded' ones out there but if you're like me that designation might not fit your bill. I need one myself........
One word - patience. The coins are out there, but they are popular. So in the grade/price range you want they don't come along that often. Problem free AU examples are going to run $400-$500. But if you can scrape up $2000, you can buy a 64 example just about any time you want. Rather obviously a whole lot more people can afford the $500 so those coins tend to stay in strong hands. And the ones that do see the market are fiercely competed for, and quickly. Your best bet, ask a trusted dealer to find you one in the grade and price range you want. They have a 1000 times better chance of finding one than you do.
Searching for coins by price guide is a easy way to end up with coins that one wonders "why" in a couple of years. My advice is find the coin you want, then find a way to get it on what ever your budget is. I had to sell a couple things to get this one. But that's what I do for most of them now.
I was outbid on a nice XF example on TT a few years ago. Stay patient, finding the right Lafayette Dollar can take years. Have you given any thought to which die variety you want? 1900 XF 45 NGC Lafayette Dollar
I don't know if was the packaging or just what, but a lot of Lafayette dollars seem to be either unattractively toned or have been cleaned. I feel the "sweet spot" grades for these are MS-62 to MS-63. I agree that patience is the key, but it also really helps to look at the coin in person. I made the mistake of buying an NGC MS-63 coin from online photos which made the toning look more attractive than it was. I disliked the coin so much "in hand" that I sent to to NCS. Happy ending -- not only did I like the result, but it came back in an MS-64 slab.
Thanks so much for your feedback! I totally agree with LindeDad --- I want to see the coin and find something attractive before I buy it. I am taking my time on this and will not rush it. I also always buy in person and never online - I do not want to get hooked. I saw a nice PCGS MS63 Lafayette this week that was attactive, but out of my price range.
Quite frankly, with this one, I'd be happy with a nice AU example. One with nice original surfaces and no dinking. My goal as a collector of classic commems is to achieve a complete set of every example produced (sans that Pan-Pac $50). It doesn't have to have the finest examples because I ain't the finest guy. I'm just looking to fulfill a childhood dream of owning one of each produced. Just a coin slob a dreamin'......
Here's my Lafayette . Won it on Heritage a while back . It's sure a lot cheaper than a 64 and almost as nice .
