$1,000 To Spend -- Best Morgan Dollar for the buck ?

Same as my Saint thread....$1,000 to spend on a really nice Morgan Silver Dollar, what would you consider ?

Again, can be based on highest grade....population scarcity....investment potential....or a combination.

 

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Personally, I would do a mid-high mint state condition rarity, like the 1891-O or 1901. A very nice 1903-O would be on my radar as well.

 

Gonna check them out, thanks IS !!

 

Well, I guess you’d have to put that $1000 towards a low MS 1901.

 

Well, $1000 isn't getting you any real key dates in XF40 or better, so, I'd say if you're going for rarity over condition, your best shot is a 95-S in XF-40. Even then, $1000 isn't going to guarantee you a particularly nice coin.

The other approach is to go for some combination of condition/color/prooflike. You could do something like a rainbow toned 82-CC in MS65-66 and get the added bonus of the CC mint mark.

If you try to go for DMPL, that's going to limit you to pretty common dates, like 80-S if you insist on MS65+, but you could probably grab an 85-CC in MS63.

Personally, I like the combo of nice toning and gem grade here, so I'd look for the highest grade, nicest toned CC dollar I could find.

 

Paul, good ideas....right now the stars of my MSD types are an 1898 MS64 PL....an 1879-S MS67.....an 1884-CC MS66 CAC...and an 1884-0 MS64 DMPL.

Don't ask me how I came up with that group, it was pretty much random.

 

Those all seem like pretty decent choices. Like I said, you're not getting very far into key dates at the $1000 level, so high grade, toning, and/or DMPL/PL on a common to slightly better date are the ways to go. The problem is that this question has too many good answers, as opposed to the $3k Saint question, which has many fewer good answers. Gold doesn't tone like silver, and I've never seen a Saint I would say was PL or DMPL (though I don't look very hard at them).

 

If you have $1,000 and are not a regular Morgan collector, I’d apply it to my St. Gaudens purchase.

 

I guess I am more of what is called a Type Collector as I'm not completing sets or building a registry. If I ever win Powerball or MegaMillions, then I'll start my Saints registry collection...

Seriously, if I spend that much on a Morgan it will have to be a great purchase and blow me away. As I listed in the sister Morgan thread I created alongside this one, I have never gone that high before so I might very well spend $500 or $250 (or nothing !) on a Morgan.

And yeah any $$$ I don't spend there will most likely go to a Saint or bullion, unless I can find another coin I think worthy.

 

If you’re building a type set, then disregard my input.

 

Thanks, some nice ideas....what is it with the fascination with Carson City (guilty ! )....I wonder if its because of the ties to the Old West and maybe TV shows that approximate that era like BONANZA and GUNSMOKE ?

 

Still good advice, appreciate ALL input, Santini. And I would call myself a very ECLECTIC Type Set collector. Don't own a single SLQ, Standing, Barber, Franklin, Penny, Nickel, etc. A few Peace Dollars I inherited, ditto some Morgan commons.

My only bias is to Saints & Morgans and nice modern bullion coins (gold & silver).

Whatever moves me.....

 

The problem sems to be that the stuff that is affordable in a very high grade (65 & higher) there are TONS of coins available (which is why they're affordable)....the ones that are more scarce (or a common year where you add CC or DMPL or a rare mint or a combination) you go way above $1,000.

That's pretty much it, right ?

I'm just going to have to see if something has a combination and overall appearance/pedigree that appeals to me.

 

If I was going to buy a Morgan for a type set, I'd absolutely get a DPL example. This is an uncommon example of a rather common coin, graded 65+ DPL. It cost just a bit over $1000:

 

BTW Guys.....don't have to spend $1,000.....if there's a great year and MS grade for $1,000 can always spend 1/2 that and go down to AU58 or something like that.

Just figured I would create this thread with the maximum I would consider spending on a Morgan at this time given my financial limitations...and based on my previous purchases plus a small premium on top of that.

 

Really, the choice is up to you:

1. A very high grade common date
2. A low grade key date
3. A mid-grade semi-key
4. A really nice toner
5. A DMPL

Any of them can be had for $1000.... you just have to pick what fits your collection the best.

 

Pretty much. Find any coin you like that's within your budget, and decide whether you are willing to pay the asking price. There are just too many variables out there with Morgan dollars, IMO.

I agree, pick what best suits your collection. Just realize that you're only going to get at most 2 out of these 5 things if your budget is $1000. I love the coin you posted, @physics-fan3.14, and it illustrates this point perfectly. PCGS price guide is right at $1000 on that coin, but it's a higher mintage year and your example is untoned.

 

I think in the past I've been guilty of "buying the slab" and going for the HIGHEST grade.

I'm now considering more strongly condition rarity and the pop census as well as (at least for MSD's) things like PL or DMPL.

 

What I recommend, instead of going for the "highest" grade, is going for the "best grade for the money."

Look at this chart for the 1885 Morgan in DMPL. What you see is a fairly consistent increase in value per grade.... until there's a huge jump. Buying a really high quality example of the grade right before the jump is often going to be your best "value to quality." In this case, it turns out to be MS-66 DMPL (or, even better 65+ like mine).

If you were to plot this out for almost any issue, you'd find a similar jump in price for an incremental grade jump. The highest "quality to price" ratio is going to be right before that jump:

 

A really nice toner or a higher grade better cc date like 78 80 81 85 or 90-1 in 65 or better