Hello...I've just signed up and may continue if I can get back into collecting. I'm 27 years old and began collecting with my Grandfather at a young age. It's been a while. I'm looking for a present for my FATHER IN LAW!! who collects coins as well, but has also been out of it for a little while. I need some advice as to what to get someone who is likes coins with an interesting story. Does anyone have any recommendations as to a coin to get or a direction to go for someone who wants to spend no more than $50 or so on one or a few pieces that are interesting etc? Any advice would be greatly appreciated. Thanks
An inexpensive coin with an interesting story is the 1904-O Morgan Dollar. It was believed until the early 1960's that almost all of the 1904-O Morgans had been melted under the Pittman Act in 1918. A 1904-O Morgan was scarce in any condition, and was sure to be the highlight of any silver dollar collection back then. If I remember right, the Redbook back then listed its value at hundreds of dollars. Then in 1962, as the US Government was continuing to distribute the supply of silver dollars from the treasury, it started sending out entire bags of BU 1904-O Morgans to the banks. In all, tens of thousands of the once very rare 1904-O Morgans ended up being distributed by the US Government. This ended up ruining a few coin dealers who had stocked up on the 1904-O when it was worth a lot of money. Supposedly, one guy even committed suicide. Nowadays you should be able to pick up an uncirculated 1904-O Morgan for under $50.
soccerman: Morgan or Peace dollars would fit the bill perfectly, in fact you can probably get one of each (in uncirculated) for less than you mentioned ($50). Have fun!
