I know, I know this has probably been discussed a a million times on this forum but I want it to be more personal. I've started my collection of New Orlean minted Morgans. I want to collect a full set 1886-1904 of MS61-+64 graded coins. This is for a personal collection and I plan to buy and hold for my kids/grandkids (20+ years) Should I go slab(graded) or try to develop my collection raw. I prefer raw (in airtites) because of presentation, but I know that my grading expertise may open me to some wolves/over pricing. I'm also so concerned about all this cleaning coin business that is all the talk at this site. Price is no consideration in my collection approach (I understand grading fees drive up slabbed coins) as long as they are fairly valued. I also know that for a few years these O-Morgans are going to be $$$ for MS coins and I'll probably only find slabbed. I respect everyone's view on this site so please help me come to a good collecting strategy.
You may want to begin with coins slabbed by one of the big four (PCGS, NGC, ICG, or ANACS). Since money is not a concern, it might well be worth the added cost for the slab. After you have acquired some, you can see what the various grades look like and can always decide to switch to raw coins at that point when you feel comfortable with your own grading skills.
I like slabs because of presentation, protection, verification (you know what exactly the coin is or is not), and instant market values for sight-unseen buying/selling. With that said, I agree with Susan in only dealing with the big four. Of course, you will here to buy the coin and never the slab, but there are many benefits for certified and professionally graded coins over the buying and selling of raw coins.
I'd go slabbed so if they were ever stolen you could maybe get them back by the seriel number. Since price is no problem (WOW) I would go with nice MS-65 coins. Speedy
Speedy, That's why I sticking to MS-61>64 Morgans. The $$$ on MS63+ for some years are way outside my budget, so I'm on the MS61 end of the $ scale. Other years I OK with MS64.
One more thing...when I start a set like that I try to get them ALL in the same grade--it makes for a nice set. Speedy
Personally, there are several considerations. One is -- do you want consistent presentation (that is, all raw or all slabbed) and not a mix of raw and slabbed coins? If you don't want them mixed, chances are you'll want to slab them unless they are all fairly unremarkable in price. Anything worth over about $200, IMO, and anything that will grade MS-65 or higher should probably be slabbed if you're concerned about resale.
If you are confident in your own grading abilities for these coins - and O Morgans can be the devil to grade accurately - then you can buy slabbed or raw. But grading is the problem that most have - and surprisingly to many, most collectors tend to undergrade O Morgans. Slabbing a coin typically only adds cost when you are the one submitting the coin. Buying a coin already slabbed adds no cost.
Agreed. More specifically, many O-mint Morgans are pitifully struck. A lot of folks look at a legitimately mint state, weakly struck O-mint Morgan and call it an AU. But if it's just the usual mushiness in the hair above the ear and the breast feathers on the eagle with no evidence of luster breaks or impairment, it's probably mint state. Sometimes you can find these for choice AU money (unless it's a condition rarity in MS such as 1896-O or 1897-O). Speaking of O-mint Morgans with crummy strikes, I used to have an 1892-O Morgan which was arguably the worst struck (as a general rule) of ALL Morgans. Mine had a spectacular strike and many Morgan specialists who saw my coin said they never saw a better strike on a '92-O. I was very disappointed when NGC only graded it MS-62; I thought it was 63 as did most who saw it, figuring that a borderline 62/63 '92-O HAD to get a bump to 63 with a strike like that. It didn't.
Ziggy, I am concerned about presentation and if I mix raw and slabbed I'm considering the new "reusable slab holders" (see photo). I don't know if there as good as air-tites and they are a little pricy ($1.75 ea). Also I agree that when I spend $200+ on a coin I will probably go slabbed.
I can completely understand your dilemma as I went through the same questions myself not too long ago. My recommendation is to go raw. I find there are much better bargains out there once you know what you are looking for. It will be well worth it to take your time and research before you begin your shopping in any earnest. Start with Bowers' Morgan Redbook, there is so much valuable information in there that it is impossible to list even the high points here. Next, browse the bourse floor and/or your local coin dealers shop...closely studying the slabbed coins to visualize the differences explained in the books between the various grades that you're considering. If you really take the time to study and educate yourself you will save yourself a good chunk of $$...not to mention the overall pride you will take in your collection as you look back over the coins thinking of the bargains you found and slabbing fees you avoided...all contributing to the possibility of maybe upgrading a few keys. Of course, you could go with my husband's advice..."Buy the slabbed, it will leave more bargains out there for my wife"
