My first Coin Purchase, Need Advice

I'm looking to purchase my first coin. I found this dealer offering an
1880-S Morgan dollar PCGS MS64 for $58.00.

http://www.fastcoin.com/product_info.php?cPath=74_65&products_id=15190

I looked on the WEB page "Numis Media Fair Market Guide", and if I'm reading it correctly the Morgan is listed for $59.00.

http://www.numismedia.com/fmv/pricesms/mordlr/prices61.shtml

Can anyone give me advice on this purchase?

Thanks,
Keith

 

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i would definitely shop around and if you buy it in person at a coin show you can haggle........ i only buy coins in person

 

Agree.

Buying coins online is not evil..

 

Hi Keith, Welcome to the forum.

The reference is for a 1881-S, but same pricing. Since they say free shipping, it may be a few dollars +/- what you find at a show. Not a bad deal IMO.

Jim

 

Thanks

Thanks for the reply's, I'm starting to get the hang of it.
My new RED book just arrived in the mail, WOW, there's a lot in that book.

 

if you go to ebay you could find one a lot less

 

i don't mean its bad i just cant haggle and that is half the fun( and some times frustration)

 

You may find one for less on e-bay but it may not be a MS 64. at that price I'd grab it. Red book says non slabbed ones retail at about $70 & to be honest I'm selling one slabbed by NGG for about $83. 1880S MS64

Chances are we bought ours for $50.

 

It is an okay price....Fastcoin is a good site
You can probably get one cheaper one ebay or heritage

 

Dowser , in many of the post you made you are linking coins ,,, most of the time you would pay too much. If I were you I would look at the trends a bit more... You could go on ebay and look at the past prices some coins have sold for.


Just a idea

 

Also, you can go to heritage, and sign up, and see what coins have sold for, same goes for teletrade

 

I don't know about Teletrade but Heritage only does high end stuff. I think that would be to low value for Heritage.

 

Where did you get that from... You can buy EF40 morgans @ heritage... You can buy common date MS63's...and 64's... Often better prices than ebay...

 

Hmmm well, that's not what they told me. The lot had to be about $5000 worth and they would not do a lot of 50 $100 coins. Funny thing was I never did look at any coins on there. I was mesmerized by the fossils. I so wanted one particular one but it was 7K and ummm yeah I can't afford that.

Still thinking of stealing the one with some fish that my dad gave my nephew. *sigh*.

 

Just check it out, you'll see, they won't bite! :hail:

 

ROTFLMAO! No biggie. Thanks.

 

Okay, you'll be missing out! lol

 

Red book is a great reference guide but high in their prices. I do believe that it is written by coin dealers. Although a good starting point, grey sheets,heritage and teletrade are better reflection at what a coins is selling for right now. Just remember that your Red book was written a year or more ago. I do not think your pruchase is a bad deal but do believe you could get a bit cheaper at a show or shop IMHO...Jerry

 

Yes, you are right.
Whoever is reading this, wait a couple months, for the 2010 redbook to come out