Did i just get ripped off?1889 O MorganSilver $$

I just bought this for $65.00

It was a spur of the moment and non thinking act when I bought it.

What do you guys think.

Worth more than $65.00?
What is it worth?

 

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Have you checked completed sales on eBay?

Chris

 

Over 11 million minted. A well worn circulated Morgan. Probably worth silver melt value.

 

If you won it at auction then you ripped yourself off. Not the seller's fault.

 

Not a bad looking coin, but I think you did pay too much for it. I'd say it's in the neighborhood of VF20 which puts it around $30 (provided it isn't cleaned, which I'm poor at discerning from photos). I'm quoting this price guide by the way: http://www.usacoinbook.com/coins/dollars/morgan/

 

Does it give you $65 of enjoyment? If so, you're doing fine.

 

Well that price is a rip off; but if you willingly bought the coin for that much without doing any research prior to the purchase. I'd say you really ripped off yourself as I'm assuming the seller didn't force you to buy it.

 

Worth probably $20-$30, it pays to do the research before buying. Certainly not the most expensive lesson ever learned though, it could be a lot worse.

 

No way in hell would I buy this for $65.

 

Always do research before buying anything,the info's out there on just about anything! You paid too much but if you like it no harm/foul.I pay too much on occasion but I want to keep the source happy,some day he'll get me something REALLY GOOD and it will make up for all the rest.I just bought a 1736 M Pillar Dollar from him for 200 bux that's only worth 500 or so in much better shape but it will sell as a "filler" for my outlay I'm sure....

 

A lot of history with that coin. When one is worn such as that one, I always wonder what journey it took in it's lifetime and how much cumulative assets it has been bartered for. If it were uncirculated, you can guess it was held in a safe place for many years, probably by a speculator. Cherish it for what it is and as has been said before, "Will someone pay $65 for it?" "You did."

 

I'm not even sure if that coin is genuine or not. Chinese made silver dollar fakes are rampant out there. But even if it is genuine, the price paid is way too high.

If you are a new coin collector, looking to buy coins such as Morgan dollars, I would advise only buying graded coins from reputable coin dealers.

 

I carry a Morgan silver dollar in my pocket all the time for good luck. Have for about 20 years now. What a great coin.

 

It spent it's entire lifetime in a New Orleans brothel where the employees and clients had more than time on their hands. Ick! Yuck!

Chris

 

I did mention assets.

 

Forget the commentary. In a word Yes.

 

Better to pay $65 for a $30 coin than $65,000 for a counterfeit. Mistakes teach you, so its best to keep your mistakes cheap.

 

Let's clarify, if you paid for it - and it's a good coin, you didn't get ripped off. Maybe you spent too much, but nobody committed any fraud - so you didn't get RIPPED OFF.

Ripped off would imply fraud, lying or some sort of other scam.

So - NO, you did not get ripped off. You just paid a huge premium on something you may have possibly gotten cheaper.

 

Too much sorry.

 

I've never got one as change here. When did brothels start giving out change? Thought that was a tip?