Hello Collectors! I have been collecting coins as a kid. And have become fascinated recently with them again. I have been buying Morgan Dollars from swiss america...expensive. On ebay I can find them for half price?? Am I a sucker?? Thanks for any insight! Ted
Well, I'm not really sure what you've been paying exactly. To tell you the value of the coins we would need to know the date, mint mark and condition of the coins. I'm not familiar with Swiss America. Maybe someone else around here can give you an idea of how good of a price they sell for.
I bought when prices were at 18 dollars a oz. paid $190 at a high year ago, now paying around 130-140.
Welcome to CoinTalk. I don't know how to answer your question. I have never heard of Swiss America before and I don't know what they sell. I suspect they sell overpriced coins and bullion to people as "investments" rather than "collectables". I suggest you educate yourself about coins before spending a lot of money buying coins. Buy yourself a Red Book (available at any coin shop) and read it. Learn something about grading and how grade affects price. Look at lots of coins (at coin shops, on eBay, at coin shows, etc.) to get a feel of what is out there and what prices are. There are lots of threads on CoinTalk that will help you learn what you need to know. Don't be afraid to ask questions here.
As graded by WHO? Is the coin is a major Third Party Grading Service holder? (PCGS, NGC, ANACS, ICG). If so you did OK. If not you more than likely got ripped.
Let me ask you, are the coins raw or slabbed by a reputable Third Party Grader (TPG) such as PCGS, NGC or ANACS? Like Hobo already told you, read up on these Silver Dollars or whatever coins you're interested in purchasing before you go spending alot of money. If that MS65 1879 Morgan is actually an MS65 then I'd say its way under what the actual value is. It seems strange to me that this "Swiss America" place would sell a coin for $190 dollars that lists for $910 dollars on Numismedia. http://www.numismedia.com/fmv/pricesms/mordlr/prices61.shtml
There is a huge distinction between a 1879 Morgan and a 1879-S Morgan. If it is a 1879-S AND it is graded MS-65 by NGC then you probably did not do very bad. But it depends on whether the coin is a high-end MS-65 or a low-end MS-65. Do yourself a favor and buy a Red Book and read it before you spend any more money on coins. You need to understand what it is you are buying.
Ted, Both Hobo and indianhead have given you some very sound advice. Be sure to pay attention to the details as those will cost you dearly. The Red Book is ok for starters but I recommend the ANA Grading Standards book to give you a better description of the details necessary to set a grade. Remember these are coin detail descriptions given in both of these books. Eye appeal should also play a large part of what you will pay once the grade has been established. Knowing the coin you want add to your collection, what grade is affordable to you and keeping in mind if it is too good to be true it probably is will go a long way to building the collection you want. Review Numismatic News Retail Guide for prices to expect, these are not cut in stone but they are a reference. When you have established the grade, eye appeal will usually add or subtract from these numbers. Once you have this in mind where you buy your coins will not be as critical if you can return the coins if they are not as advertised.
