Hi everyone, posted this in the wrong area earlier, where no one could reply. (Thanks, Chris for the heads up!) A couple of questions: do any of you buy BU rolls such as there are on ebay right now? (A 1/2 roll of what appeared to be very nice 1884-0 just sold for 545$, more than I would have bid) If so, do you recommend coin shows for this type of purchase, with obvious advantage of seeing the coins up close and personal, or are there reputable online folk anyone would recommend? There's a show coming up in my area* in a couple of weeks, thought I might pop over. Thanks, gxe *9 hour drive
It really depends, many of the rolls you see on eBay may not be entirely kosher. Most people generally steer clear of them just because they are often “seeded” (have very nice coins on the outside and cull coins inside).
There is no such thing as an original roll of Morgan dollars, they all left the mint in canvas bags. That being said, there were some rolls made in the seventies when some bags were released from the treasury to collectors. Still the “rolls” on eBay are a scam filled with low MS coins and not worth sending off to grade.
Thanks for the quick response, guys. To clarify, I'm talking about rolls in tubes and laid out to see. I've already done the "unsearched wheat penny roll" thing, not about to do that with big ticket stuff Some guys are better than others at taking photos, so I don't trust my eyes. I definitely check feedback for disappointed Morgan buyers.
I would be leery of buying any roll on SleazeBay even if the seller did "lay them out" for you to see. It's too easy to substitute coins. If you can't inspect each coin, individually, I'd suggest you pass. Wait until you have the opportunity to view each and every coin in a face-to-face meeting with the dealer or seller. Personally, I would rather buy them one at a time. What's the rush? Chris
What are you looking to do with the Morgans? If you could answer that it would be helpful. Seeing that Morgans are one of the most, if not the most, collected US Coin, if it's not been graded by one of the top TPG's, then it most likely has problems. There are exceptions to that rule, but a graded coin offers the seller easier liquidation and generally higher prices. I'd stay away from Morgan rolls and ungraded coins on eBay.
Would you really spend $300 or more to grade ten coins that would sell as a lot for $545? Do you think the slabs add THAT much value to common-date lower-MS Morgans?
Thanks everyone for the responses, pretty much what I expected. "Would you really spend $300 or more to grade ten coins that would sell as a lot for $545? Do you think the slabs add THAT much value to common-date lower-MS Morgans?" Appreciate your enthusiasm and thirst for knowledge. Answers to your rhetorical questions are no. "if it's not been graded by one of the top TPG's, then it most likely has problems." This appears to be the case or at least a healthy suspicion to have. But, and we know what comes after "but", people are still sending Morgans to be graded, so there must exist appealing ungraded examples in order for the business to continue, eh? I'd like to cherrypick a few meself is all. As for what I want to do with Morgans, the answer is twofold; put together a nice set of pregraded coins chosen one by one (very attracted to prooflike coins), while socking away some eye-grabbing raw coins, the eventual selling of which may help to finance the ones I keep. "If you can't inspect each coin, individually, I'd suggest you pass. Wait until you have the opportunity to view each and every coin in a face-to-face meeting with the dealer or seller. Personally, I would rather buy them one at a time. What's the rush?" - I agree wholeheartedly, halfheartedly, sigh... impatience is the rush Thanks, consensus reached; Ebay rolls = danger, coins in front of face=possible to come out well, best solution is buying pregraded, certified coins. I'll take that drive in a coupla weeks. Haven't been to a coin show since I was 10 or so, I think in Westchester, NY. Thanks all, gxe
There are several locales within driving distance of New Mexico that have good shows from time to time.....Colorado Springs (ANA), Las Vegas (PCGS) and Long Beach (PCGS, I think). Check the calendars for dates. Chris
I'll buy individual coins and I buy them in bulk as long as I can see them. I don't buy rolls of Peace or Morgans as they are overpriced compared to the alternative.
If that specific question was directed at me, the answer would be no. Since I inferred from the OP's original post that he is fairly new to the hobby, I thought I would share a general guideline. Also, I've seen many common date morgans in slabs. What I do believe is that if a dealer thinks he can make additional money by getting his morgan in a NGC/PCGS holder, than he/she will do it.
I appreciate what both of you have offered as advice, style points aside I think I've said before that the "Enthusiast" in my name is an understatement and my greatest danger, so putting on the brakes a bit is appreciated. JPeace-As to your last statement about dealers, my greatest frustration was sitting there looking at phenomenal unslabbed coins that my guy wouldn't sell, offering me only MS63 or 62, common date, slabbed coins. Nice, but I wanted a beauty I picked up the last MS64, a PCGS 86' that had the best eye appeal. Couldn't walk out empty handed... it's a sickness.
