The Official Morgan Silver Dollar Thread

Joe, what do you think of this one, same characteristics but 2 grades lower in an MS-63:

http://www.ebay.com/itm/1899-O-MORGAN-SILVER-DOLLAR-PCGS-MS63-DMPL-NICE-ORIGINAL-COIN-BOBS-COINS-/172061267075?hash=item280fa69483:g:TLkAAOSwKtlWlpJs

Here's the original one you commented on:

http://www.ebay.com/itm/1899-O-1-PC...808899?hash=item2eeb1971c3:g:hq4AAOSwX~dWiIog

And here's a new listing (same as the one above) from some Key West Collection whatever that is:

http://www.ebay.com/itm/1899-O-Morg...931802?hash=item4af949a01a:g:OVEAAOSw6dNWS~LV

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@GoldFinger1969 , I'm not super excited about any of them. All three have imperfections that would bother me.

 

The MS 65 DMPL isn't worth what they're asking. It doesn't have that much eye appeal. It is better to buy DMPLs on eye appeal than grade. I have seen better looking MS 63 and 64 DMPLs.

 

DO NOT LOWBALL. You will either get rejected or countered. If the seller doesn't come much off of the asking, that means he has too much money in the coin to bargain much. I would be insulted as a seller if you lowballed me.

 

Can you explain exactly why/how it doesn't have "much eye appeal" ?

 

OK, I put in a stink bid about 40% below his asking price. I checked HA and I think the market was $225 or so. So he was high by 40% and I came in under saying "Hey, come down a few bucks and I'll come up."

I think he came down $15 or so so I haven't responded.

If the seller is serious I will counter-bid with a REAL (serious) bid. But this tells me that he either wants a sucker to pay above market OR he is into the coin for too much $$$ as you stated.

Thanks for the feedback, guys !

 

You don't get it, do you? If you offered me 40% below a coin's asking price, I would not even counteroffer-- I would decline you, and block your bidding on any more of my coins. As a buyer, learn to respect a seller more. They have to earn a living, and it is a tough business. If you are ever on the selling end of the deal, you would understand. It is YOUR responsibility to make a serious offer-- not the seller. He has listed his coin for what he thinks is fair, and will accept offers.

 

It isn't an attractive coin commensurate to its asking price. Nothing about that coin grabs me.

 

OK, I see your point.....but if he comes down a reasonable amount I am going to treat him right, too. My point was he was SO FAR ABOVE FMV that I had to send a signal to him that I'm not coming in at $225 or so (FMV) because then he's coming down to $285 (or maybe less) and then I am bidding against myself above FMV. See my point ?

MD, I was on the sell-side in investments for many years so I know that sellers work hard, believe me. But if a hard-to-find non-Treasury bond had a FMV of 100 and my traders got me the bond and said charge 103 and my account countered with 98 1/2, then I am going to come down to 101 (a fair price, 1% markup) and they will either say 98 1/2 and we are done negotiating...or.... they say 100 1/2 and we are almost done doing a deal somewhere between 100 1/2 and 101.

I just bought a coin today (well, I got it today, bought it last week). Asking price was $2,000 (FMV was probably $1750 or a bit under)....I countered with $1,600.....they came down to 1,850 (showed me they were serious).....I came up to $1,750 (they came down $150, I came up $150).

They countered with $1,798 and said it was their lowest price. At that point, I said DONE and we had a deal. They came off their high price....I came off my low price.

Win-win, as Homer Simpson once said !

 

MD, a few people may have acted like that but MOST of the ones I have dealt with have come down enough to where I put in a real quality bid.

Alot of the stuff I am bidding on has verifiable sales on Ebay and HA, so I know where the market is. I don't mind paying a bit above FMV -- I know these guys have to make a living and I'd rather pay up for quality products and service than be El Cheapo and get crap quality and service -- but I don't want to pay 20% above FMV.

 

Coin purchases are not like bond trading, or real estate. I agree that paying way over fmv is crazy--- except, perhaps with uncommon or specialty coins. However, the profit margins are way smaller, so wild swing bargaining rarely works. Occasionally, one gets the wildly overpriced coin that is marketable. For the most part, profits are tight.

 

Agreed...if someone has a special coin, I'll pay up. In fact it happened a year ago on one of my Morgans.

Guy wanted $900....I didn't notice the luster and the rare high grade + CAC....I had bid $700....he came down only to $875...also explained why he couldn't go lower....coin was top-notch, CAC, OGH, etc......I thanked him for explaining and bought the coin later that day/night at his price of $875.

Like you said, sometimes you have to pay up. That time, I did.

 

Using the financial analogy, regarding that MS 65 DMPL, that does not look superlative to me, and carries a high ticket. Does one buy Apple at high market price, expecting it to go higher, and possibly split? Or does one buy another less pricey, tech staple like Oracle? Think of the MS 63 or 64 attractive DMPL as being Oracle.

 

Went to the local bank with dad after seeing the cut off date to "trade in " the silver certificates" for morgans/peace dollars in the paper.Was mobbed but civil with lots of speculation as to the real reason for the notice.Still have the peace coins and loved the design,still do!...

 

Wow, 61 bids on this 1879-S Reverse of '78 with 1 day left....I considered bidding yesterday when it was in the $350 range.

http://www.ebay.com/itm/391391975786?_trksid=p2055119.m1438.l2649&ssPageName=STRK:MEBIDX:IT

Any thoughts ? And is that the camera making the fields black ?

 

Stink bids, IMO, telegraph to a seller that he is doing business with an amateur or jerk, neither of which may be true.

 

Maybe....but sometimes you get lucky. If the guy has repeatedly listed his coin multiple times and gotten no activity, if I bid low and then he makes a serious counter-offer, he knows he can sell the coin. Because I will then make a real live bid that closes the gap bigtime.

If he blows me off, he can keep listing it for the rest of 2016 and hit the snooze bar.........

 

The rev. of '78 makes up roughly 5% of the total mintage for that year. Bowers estimates about 500K were minted by SF out of the roughly 9.1M total. Who knows about survival rates, so the coin itself is quite scarce and when you add a "DPL" designation, it becomes more desirable.

As for the picture in the listing, the lighting has been messed with to make the fields look black, just as you suggested. From what I'm seeing, it will have plenty of the usual 63 chatter/abrasions/etc. and the fields, while reflective, will also have the usual 63 disturbances. The question becomes, do you want that for your coin?

 

Yeah, but alot of these sellers are amateurs and jerks, listing the same piece for months without any activity.

I see it all the time with $20 Saints. The market for 1924 and 1927 commons is maybe $1,500 - $1,700 tops for an MS-65. But I see folks at $2,200. You bid the FMV, you are screwed. You may as well Buy It Now at their price and make their year and give them a story about the sucker who payed 30% over FMV for a common coin.

 

I've learned that people selling on Ebay are not only bad with pictures but some very good. I see stuff that has the lighting angled such that the coin looks alot different when you get it in person.