What would you do?

I've been collecting Morgans for about two years now. I have the Dansco albums with many (25) vacancys to fill. I am trying to keep the coins in at least XF condition as I go along. I just obtained some extra cash that I am able to use for purchasing coins. Of course I want to add to my Morgan collection. Here is my question. Should I get several fairly common dates or just one key date? Its not often I have "extra" funds to do this so I am asking your opinions. Thanks.http://www.cointalk.org/images/icons/icon12.gif
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IMHO
if your not racing, i'd go for the right rarity for the right price first. This is only going on the logic of, as time passes, crossing pathes with a rarity at the right price only gets fewer and farther apart. That's kinda how i've been plotting.

 

Extra cash is good these days. You can't go wrong if you can get decent collectable coins at a good price. Commons, semi-keys, or rare, all can be considered a good investment, and a worthy addition to your collection.

Do you see yourself spending all your extra cash on a single coin?? Would that bring the same satisfaction as buying several less expensive pieces that appeal to you? Do you have any expensive coins in your collection and have they brought you satisfaction? If so, then go for the high end. If not, then stick to the nice less expensive pieces.

I prefer less expensive, so my collections have many duplicates of dates and mints, but I am very picky, so each is fairly spectacular for the date. I decided a long time ago that I am not rich enough to have $200+ coins in my collection. In fact, when the cheap coins I collect start becoming expensive, I sell and start collecting something else.

I don't think I really answered your question, but maybe gave you some questions to ask yourself so you can answer.

 

The thought of spending $250 or more on one coin is scary. I have never done that. I am leaning toward getting a few less rare specimens and still stay within budget. Its getting difficult to keep the XF minimum I set. Thanks for the input, got me thinking.

 

If it is "extra" cash, I would go for the harder to find key dates. Commons will always be common and easily had in the future.

 

I also collect morgan's and have been buying the common dates because I can get more of them at the same price as a key date. But, those holes were really getting to me so I up and bought a "CC" one day instead of a few of the common dates. Well, I'm glad I did, that little naging voice inside me quited down and I can focus on the other's. Either way you won't regret it!
coinsngolf

 

Im not sure that I agree with the statement that commons will always be commom!!!

Let silver raise to 25,30, or 40 dollars an ounce and those ten dollar morgans will be gone in a flash, and what once was common could very well become a rarity,maybe not in the exceedingly high grades but from XF down they will be melted by the thousands.

I like high grade coins and I have a few, but If I could buy 15 coins in XF or one maybe two in MS-60 or 63 I would buy the 15

 

Would they really melt down a Morgan today?

 

I'd go the other way, i take the keys on first. I'd rather have fewer in 63 anyhow.

 

Hi Robert, See if you can't get both, buy a key and a common, or any combination like this. Sooner or later you have to get the keys. Sometimes saving the keys for last is discouraging as it's harder to get them. Now you have the cash so get a little of both.

JMO Tony

 

I concur with the above, that's why when you have the chance to get the keys when you can you should... otherwise you might be cursing yourself down the line when you have the last 4 or 5 holes to fill and you haven't seen any of them since you turned down the last one.

 

They would be melted in a heart beat, and not just morgans, but any coin containing silver,, as well as art bars and silver rounds,silverware ,jewelry,etc. a repeat of the early 80's.

 

All this talk about melting Morgans makes me queasy! Anyways, if you've got the extra cash, I'd go ahead and get the best date in the best condition that you can. I'm still glad I nabbed that 1891-CC when I did! Seems like it's the purchases you don't make are the ones you regret!

Rachel

 

Last year I could of bought a 1922-Plain Strong Reverse PCGS EF45 Lincoln cent for $1650. Today, less than 12 months later, it now costs over $2600+! (Insert Homer Simpson "Doh" here). I received that advice last year and this year at the FUN show, I practiced it.

I bought 3 coins...all MS...all keys. I could of bought loads of commons, but like the previous posts state, they have been available and will more than likely BE available, for pretty much the SAME price.

I felt like I didn't accomplish much filling in holes, but the "holes" I filled, were VERY huge.

Buy the keys FIRST...commons will always (99% of the time) be there. That was one thing I took away from the seminar I attended...and finally practiced it!

 

Go for it, and buy the key dates. You won't be sorry.

 

I agree with GDJMSP...when I started out I heard that and thought it was nuts...now I wish I had...most keys are a few more $$$ and now they are harder to find.

Speedy

 

ok Im convinced buy the Key dates first,, Needless to say I did not follow this rule, I cant say that Ive even ever heard it before,,, but now that I hear it, I may well agree with it .

Just as a note, I traded a few duplicates of the Mercury dimes that I had for the 1921 and the 21-D ,, so the ascumulation of common date coins helped me ,, but I cant say that works for everyone.

 

As I'm sure alot of you do, I don't always practice what I preach. I do however, if I have XX amount of dollars to spend buy at least one key and then some commons. We all like to fill the holes quickly but it's much more difficult to get the keys later. Alot of us know this from experience.

Tony..........

 

Go for the Key coin now. The next time you have extra funds it may only be $40 or $50 and you can only afford one of the lower priced coins.