Im thinking of buying 10 Morgans from this site, it costs about $155 for 10 AU's. Is this price too high? or is it reasonable. http://collectorsinternet.com/store/index.php?main_page=product_info&cPath=15&products_id=193 Here is the link. I havent bought from them but really thinkin' about it. I hope they are a legitemate business.
Hmmmm.... Very interesting prices. I've never heard of them, but that most likely means nothing. Their "About Us" makes it sound like they've been around forever. Hmmmm. Their shipping policy is interesting - basically - don't expect to get anything for at least a couple weeks no matter how you pay. I quote : Shipping & Returns Please allow up to 10 business days delivery for credit card payments. Personal checks, please allow 10 business days to clear, or about 3 to 4 weeks for delivery. Money order payments please allow at least one to three weeks for delivery, as all money order shipments are processed in the order received. U.S. Postal Regulations allow for up to six weeks for delivery, but we often get shipments out in about half that time. We have customers in all fifty states and dozens of countries worldwide. Please refer to the chart below for domestic shipping cost. All shipments are professionally packaged and shipped fully insured via USPS.
And... that is not such a bad thing either. Back on subject, something sounds a bit fishy with the prices. That price suggest to me that the coins are in the least going to be significantly overgraded, I cannot see why any dealer would advert coins at such a low price without some hitch ie the condition of the coins. I recently bought 49 Morgans and Peace from other collectors, and paid $14 each, but have nice coins that range from VF-BU with an assortment of dates and mintmarks, and NO 1921 Morgans. My favourite teller at my bank that helps me get all the old paper money just got a BU 1922 from that lot yesterday.
There is always a danger when you buy something you can't see. Maybe the AU coins will be XF coins, and it is also possible that many will be cleaned. Otherwise, it's a good price.
The page says the last update was September 2008 so we can assume the prices are current. As of today, 9/16, the price of silver is $10.60 per ounce. Therefore, if you opted for the XF coins (one ounce silver each) you'd be paying less than the silver bullion price. It seems like a great deal - if you treat the coins as bullion and are willing to hold them until the price of silver rises (it was around $21/ounce in March and MIGHT rise again).
Morgan dollars do not have a full ounce of silver in them. I'm going from memory, but I think they have ~0.77 oz silver per Morgan (or Peace). I think the Red Book lists the exact amount.
know who you are buying from The Website lists the following contact data: Collectors Internet 7510 W Sunset Blvd #183 Los Angeles, CA 90046 (213)702-0163 Why not call them & get to know who you are buying from? Also note that their Website states that they will "no longer send coins to PCGS or NGC". Very best regards, collect89
I would never buy into any deals like that. Nobody is going to sell unidentified coins unless they are trying to get more money for them than they would if they identified the exact coins.
It doesnt seem to be unidentifiable though, there are specific items on the site that has exact grading(maybe not officialy) and there are items that are not graded. Or maybe im being too gullible?. I tried calling and there was no answer and e-mailed them and no reply. At least not yet.
The first tier (best & most trusted) grading services appears to be NGC and PCGS. You be the judge regarding why someone would not want to use a widely trusted grading service like NGC or PCGS. Very best regards, collect89
It probably means their coins are overgraded , also if they don't answer their phones don't buy . rzage
A reverse search for the exact address returns no listings. A search for the building returns 52 occupants none of which is a coin business. A reverse search of the phone number shows it to be an unpublished number and a land line, but the area code is different than the area code of the other businesses located at the address they gave. They are both Los Angeles area codes. The address looks very familiar though. I think this is a company that has used several different names and typically ran full page ads in the coin periodicals selling bulk lots of Lincolns and other coins.
