Nebie Here / Just bought this 1903 Morgan S on eBay $495.00 / Good Buy or Bad

Don't feel like an idiot. This is how we learn. We've all made similar mistakes, and if we haven't, well then, we really haven't been collecting.
Chalk it up to a lesson learned and move on.
Guy~

 

Log in or Sign up to hide this ad.

Rh287, don't be too hard on yourself. It may be worth less than you expected, we can wait for that, but if it really changes your buying and makes you more knowledgeable, you will later consider it a very cheap learning experience. At least you indicate you are willing to do so. Even with the wonderful people on the forum, you will find that often there are conflicting advices, as one may have somewhat difference opinions on grading, cleaning, etc. Sorry your first experience here wasn't what might have been expected, but it will get better. Search some threads on Morgans and see the photos and grading comments. Hope to see more posting from you.

Jim

 

The reason I know not to do it is by doing it and learning what a mistake it was. :goofer: Now, I will rarely buy a coin that has a chitty pic but if I do, I don't pay much for it.

High grade and/or key dates should never be bought unless the pics are at least decent, because who in their right mind would sell a high grade/key date coin with chitty pics? :whistle: I wanted to bid on a Vermont Cent this weekend but the pics were bad and I was warned it was probably an electrotype, so I let it go. If it was real, it was worth a couple thousand and it sold for $200 and it had a reserve. I know that if I was selling a 2G coin, my reserve would be much higher than $200. :hammer: So that said I did the right thing!

Ribbit

 

Think of it as tuition. The way to avoid mistakes is to gain experience. The way to gain experience is to make mistakes [and to study].

 

I agree with the previous statement and I know a lot of people who have paid a lot more tuition then you did...

 

Hi, rh287, you're not an idiot, just someone who trusted someone else to be honest about what they had for sale. I think we have all been where you are now, but by coming to this forum your knowledge and ability to avoid dubious deals on eBay has increased already! I suggest you read this eBay guide, by a respected buyer/seller, which has a lot of wisdom on how to avoid scams on the Bay: http://reviews.ebay.com/AVOID-FAKE-COIN-SCAM-ARTISTS-AND-SAVE-YOUR-MONEY_W0QQugidZ10000000004285361
best of luck!

 

I would definitely return the coin.