A Tougher Date Morgan

Discussion in 'Coin Chat' started by Collecting Nut, Nov 28, 2020.

  1. Collecting Nut

    Collecting Nut Borderline Hoarder

    What a shame about that scratch! That's really the only thing wrong but it's a biggie. Probably why it was in the junk silver. Lol but now it mine.

    An 1886-S Morgan with only 750,000 minted. Definitely a tougher date to find. But it was only $14.25 so that's fine with me.
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  3. expat

    expat Remember you are unique, just like everyone else

    Scratch or not, you have one now while many do not
     
  4. Collecting Nut

    Collecting Nut Borderline Hoarder

    My feelings exactly.
     
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  5. Inspector43

    Inspector43 72 Year Collector Supporter

    Nice find. And, you have one for your collection.
     
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  6. Collecting Nut

    Collecting Nut Borderline Hoarder

    Thank you
     
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  7. CamaroDMD

    CamaroDMD [Insert Clever Title]

    I think that’s a great find. Well done.
     
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  8. Collecting Nut

    Collecting Nut Borderline Hoarder

    Thank you
     
  9. eddiespin

    eddiespin Fast Eddie

    Nice find!
     
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  10. physics-fan3.14

    physics-fan3.14 You got any more of them.... prooflikes?

    Collect what you like, of course, but that would have been a hard pass from me.
     
  11. GH#75

    GH#75 Well-Known Member

    $14.25 you say? Finding any silver dollar under $20 is hard to find. I would have paid that for a common date.:greedy:
     
    Last edited: Nov 29, 2020
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  12. Collecting Nut

    Collecting Nut Borderline Hoarder

    Thank you
     
  13. coin dog

    coin dog Active Member

    For $14.25, any Morgan dollar is a good deal at today’s silver prices. I would have snagged that one also. Good find!
     
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  14. Collecting Nut

    Collecting Nut Borderline Hoarder

    At $14.25? I know you don't like damaged coins but the price and mintage do make it an exception.
     
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  15. Collecting Nut

    Collecting Nut Borderline Hoarder

    $14.25
     
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  16. Collecting Nut

    Collecting Nut Borderline Hoarder

    Thank you
     
  17. coin dog

    coin dog Active Member

    Yep, that’s right. I do not usually buy damaged coins. However, in this case, with the current conflation melt value of $17.57 for a Morgan, I would have snagged it just for the silver value alone. Plus, I love Morgans!
     
  18. physics-fan3.14

    physics-fan3.14 You got any more of them.... prooflikes?

    So, let's say it grades VF details. I think that might be slightly generous, but give it the benefit of the doubt. Heritage sales indicate that a problem free, certified VF-20 is an $80 coin.

    The problems on the coin instantly cut the value in half. Major gashes across the obverse are an incredibly unattractive problem. Honestly, I'd be amazed if you could get $40 for this coin.

    Well, how many people are going to pay a premium for this sort of damaged coin, when they could get a problem free coin for just a few dollars more?

    Not many.

    Sure, a morgan dollar's' silver value right now is $17.57, so you bought the coin for slightly under melt... but it isn't worth much more than melt. This date isn't scarce enough that low-grade problem coins will sell for premiums.

    This coin isn't an exception... you paid a bit less than retail for a horribly damaged coin that nobody wants. Sorry if I sound mean, I just can't congratulate you on this buy.
     
  19. CamaroDMD

    CamaroDMD [Insert Clever Title]

    I don’t see any reason to urinate in the OPs Cheeroes. He got a coin for less than spot. That alone is nice. It’s always fun to find a semi-key date in junk silver no matter the condition.

    Could he turn around and sell this coin for more than melt...I’m certain he could. I’ll bet he could get $25-$30 for it pretty easily. Not a kings ransom but it is double what he paid.

    So what’s wrong with this. He found a semi-key date in junk silver. That’s cool. Enjoy it for what it is.
     
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  20. xCoin-Hoarder'92x

    xCoin-Hoarder'92x Storm Tracker

    A semi-key Morgan is nice no matter what grade in my opinion. And coinsidering the time period of these coins, you always wonder the stories behind the scratches or holes. ;)
     
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  21. expat

    expat Remember you are unique, just like everyone else

    Yes, I like coins that look like they have had a good, honest life in commerce. I wonder how many hands have held them and what things might have been purchased with them
     
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