i want to buy a morgan dollar and i wanted some advice. Heres what im looking for: -has to be from 1800's -Under $65 -Does not have to be key date -Prefer even luster on it rather than patches on the coin -Less scratches and dirt as possible -No toning Heres some ive found http://www.ebay.com/itm/390631668332?ssPageName=STRK:MEWAX:IT&_trksid=p3984.m1423.l2649 http://www.ebay.com/itm/350882926763?ssPageName=STRK:MEWAX:IT&_trksid=p3984.m1423.l2649 http://www.ebay.com/itm/271303234586?ssPageName=STRK:MEWAX:IT&_trksid=p3984.m1423.l2649 which one of these would you guys pick ? are those prices reasonable ? Any other morgans that fit the description?
I haven't looked at the coins in the links, but the 1881-S is generic as all get-out, comes with great luster and is generally well struck. That would be an issue that you should be able to find fairly easily.
There's over 1200 Morgans on eBay right now that meet those requirements. If I were you I would take my time and look through a bunch until I found that one that I had to have. It's been my experience that most of the New Orleans Morgans are weak strikes (high points on the coin look mushy or worn even though they are not). Now that's not the case all of the time but in your price range it will most likely be the norm. I would look for one from a different mint, unless you come across one you just have to have. Take your time and you will find one that you like and you will know when you do.
I agree with Tom, and would add that the 1880-S & 1882-S are just about as common as the 1881-S. A brief search found this 1880-S NGC MS64 coming up for auction at Heritage pretty soon. You might be able to win with a $70 bid but Heritage does charge for S&H.
If you could maybe save up a little longer and stretch your budget another $15, you have a bunch to choose from this great dealer, DLRC: Click here. Make an offer within 10% or so of asking price, and see how you do. They have accepted 2 of the 3 reasonable offers I've made. Highly recommended. Here is an example for $70, go ahead and offer them $65.
Great coin , but don't forget that Heritage and the other top auction houses charge a buyers fee of 18% .
blown away by the great advice, thanks guys, i really appreciate it. Any other advice, feel free to add, it helps tremendously
No he doesn't charge a fee but his markup on coins will kill ya. IMHO the OP should save up a little bit more money and buy a Carson City? That's what I'd do, what good is a common date gonna do for you? Why buy an Epiphone when you can buy a Gibson? I'm just sayin' go for the gusto!!
My guess is that an 1880-S Morgan Dollar MS64 will sell for approximately $70 including the fee. Heritage also has a minimum buyers fee of $14 so a bid of $56 on the coin I linked would actually be a $70 bid.
Like the others said no , but he has his markup in his price . If you remember to include the 18% into what you bid it's all a wash anyways . Say you want a coin that you'd pay $60 for , if you bid $50 it'll work out to about the same . All places charge a buyers fee , they just call it overhead . lol
PM me if you want. I have 100s of Morgans, from raw culls, to PCGS and NGC keys. I have lots of doubles I had in my registry set but now have been replaced with higher grade coins. Email me and ill show what I have for under $70 delivered. IMO I would try to find a MS64 or better common date for that price, like 1887 P or an 1878 S.
As other have said, NO, and nor is there an additional charge for shipping, and they package up the coins real nice. I'm a notoriously stingy buyer and really like buying from DLRC, just to counter weight the other comments. Maybe because I am only buy cheapish CAC coins, and always make "an offer", and I always do my homework on past auction results from Heritage www.ha.com and www.ebay.com , so I avoid the overpriced coins at all dealers, including DLRC. IMHO one of the best dealers out there. Placing an add in Wanted section here on CT should get you a few offers, similar to throwbackkid suggested, might get the best pricing dealing with someone privately on CT.
Agree with the others on 1880s, 1881s, 1882s. The 1883o, 1884o 1885o are also extremely common and can be had quite attractively at a reasonable price. This 1884o was a "buy it now" for $63 and looks pretty nice:
Yep, the 1881-S is a great suggestion for an attractive generic Morgan. The OP might want to read-up on Morgan dollars to learn why the San Francisco mint coins can be found looking so pretty. I'm going to recommend the OP get the red-book of Morgan dollars & then go shopping for a nice Morgan. Here is my best 1880-S:
Here is an 1881-S I got in MS 64 several years ago. If you take your time, you can find some really attractive coins in MS 64 holders. Sorry for the lame photo.
I personally believe that purchasing the Red Book would be a waste of money, as both the standards and pricing are generally unrealistic, in a "business" where "market grading" is often the standard, and pricing is often a variable unrelated to lists. I believe patient shopping on eBay, using the advance function, will garner better cost effective results than the "Red Book". If you use MS in your search criteria, you'll also be able to establish the relative market grading "standards" for the various TPG. These TPG standards often vary considerably from each other, and the books' published A.N.A. technical standards. I personally agree with Tom and Lehigh, as I strongly collect DMPL and PL condition Morgans, and have found some great buys in the early "1880s" coins. I've acquired several beautiful early "1880s" specimens in your price range with realistic "snipe" bids. JMHO, Rich
