Is this a good deal?

Just receive a 1900-O Fine #2 Quality Morgan Sliver Dollar from Littleton. They want $76.50. I know nothing about these coins.

So is that a good deal? Or should I pass???

 

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For that price, you should be able to get one in MS63/64.

Chris

 

Sorry for asking a dumb question, but is that better?

 

The Sheldon Scale


Dr. William Sheldon standardized coin grading by developing a 70 point scale for classifying coin condition. It is now known as the Sheldon Scale which runs from 1 to 70. Originally designed for large cents, but it is now used for all US coin series.

[TD="class: doggn_bold, colspan: 3"]The Sheldon grading scale

[TD="class: doggn_normal, colspan: 2, align: left"]Perfect uncirculated
[/TD]
[TD="class: doggn_normal, width: 48"]MS70
[/TD]

[TD="class: doggn_normal, width: 213, align: left"]Superb gem uncirculated
[/TD]
[TD="class: doggn_normal, width: 48, colspan: 2"]MS69
MS68
MS67
MS66
[/TD]

[TD="class: doggn_normal, width: 213, align: left"]Gem uncirculated
[/TD]
[TD="class: doggn_normal, width: 48, colspan: 2"]MS65
MS64
[/TD]

[TD="class: doggn_normal, width: 213, align: left"]Choice uncirculated
[/TD]
[TD="class: doggn_normal, width: 48, colspan: 2"]MS63
MS62
[/TD]

[TD="class: doggn_normal, width: 213, align: left"]Uncirculated
[/TD]
[TD="class: doggn_normal, width: 48, colspan: 2"]MS61
MS60
[/TD]

[TD="class: doggn_normal, width: 213, align: left"]Choice about uncirculated
[/TD]
[TD="class: doggn_normal, width: 48, colspan: 2"]AU58
AU55
[/TD]

[TD="class: doggn_normal, width: 213, align: left"]About uncirculated
[/TD]
[TD="class: doggn_normal, width: 48, colspan: 2"]AU53
AU50
[/TD]

[TD="class: doggn_normal, width: 213, align: left"]Choice extremely fine
[/TD]
[TD="class: doggn_normal, width: 48, colspan: 2"]XF45
[/TD]

[TD="class: doggn_normal, width: 213, align: left"]Extremely fine
[/TD]
[TD="class: doggn_normal, width: 48, colspan: 2"]XF40
[/TD]

[TD="class: doggn_normal, width: 213, align: left"]Choice very fine
[/TD]
[TD="class: doggn_normal, width: 48, colspan: 2"]VF35
VF30
VF25
[/TD]

[TD="class: doggn_normal, width: 213, align: left"]Very fine
[/TD]
[TD="class: doggn_normal, width: 48, colspan: 2"]VF20
[/TD]

[TD="class: doggn_normal, width: 213, align: left"]Fine - Very Fine
[/TD]
[TD="class: doggn_normal, width: 48, colspan: 2"]F15
[/TD]

[TD="class: doggn_normal, width: 213, align: left"]Fine
[/TD]
[TD="class: doggn_normal, width: 48, colspan: 2"]F12
[/TD]

[TD="class: doggn_normal, width: 213, align: left"]Very good
[/TD]
[TD="class: doggn_normal, width: 48, colspan: 2"]VG8
[/TD]

[TD="class: doggn_normal, width: 213, align: left"]Good
[/TD]
[TD="class: doggn_normal, width: 48, colspan: 2"]G6
G4
[/TD]

[TD="class: doggn_normal, width: 213, align: left"]About good
[/TD]
[TD="class: doggn_normal, width: 48, colspan: 2"]G3
[/TD]

[TD="class: doggn_normal, width: 213, align: left"]Fair
[/TD]
[TD="class: doggn_normal, width: 48, colspan: 2"]FR2
[/TD]

[TD="class: doggn_normal, width: 213, align: left"]Poor
[/TD]
[TD="class: doggn_normal, width: 48, colspan: 2"]1
[/TD]
[/TD]

 

Vary simple if it's in Fine grade it is worth just a slight amount over melt.

Edit to add that today's melt value of a Morgan is $31.19.

 

Kevin,

I strongly suggest you buy a Redbook, (found at almost any book store), read it and learn more about coins before buying any. Coins are extremely sensitive to knowledge. You will find a world of difference between what's available to knowledgable collectors and non-knowledgable ones. Better yet, find a local coin club and attend a local coin show. I think you will be amazed by the differences in prices.

If no local shows or clubs around, hang around here for a while, ask questions, and learn. Like I said before, knowledge is power in collectibles, especially coins. If you are going to buy US coins, an updated price listing like what appears in NN or Coinworld would be valuable as well.

Chris

 

Littleton is a ripoff 98% of the time. Ditch ' em.

 

Not true sir. They grade fairly and have high expenses advertising to the general public. The general public pays higher due to someone having to pay these expenses.

I do not begrudge Littleton their prices, but I do hope that Kevin educates himself and finds less expensive means of buying these coins if that is what he wants to buy.

"Rip off artists" are people who misrepresent their coins. Littleton is fair in this regard. Experienced collectors may find less expensive ways of buying, but it does not mean Littleton is a ripoff any more than Macy's, Ruth's Chris, or many other higher end firms are a "ripoff". They are fair graders, provide education, and some people prefer to buy from them. Think about how many collectors today started with Littleton. Think of the pleasure of coin collecting Littleton's ads have gave them for a lifetime, pleasure they probably have never even known about.

Chris

 

I would classify their markups as egregious, regardless of how accurate they grade. They take advantage of the uninformed collector. I never met someone who was glad they spent multiples of open-market retail through Littletons direct ship program, regardless of what they may have learned.

 

Yep. I started with coins because of a Littleton's offer for state quarters which I bought. Never bought from them since, but I have no problem with their pricing practices, just too high to suit me.

 

Thanks for your concern guys, but just so I'm clear I did not ask or buy it. Received it in the mail didn't even know I was getting something. I wish I could be every coin I see but I'm sticking to paper money for now. Then when I get that out of the way, I'll buy the coins lol.

 

That's how they get you.

 

Ah, but it is true. Who does littleton target?

They know the more advanced collector won't pay $70 for a "Fine" grade morgan.


stainless

 

To me its the same as buying jewelry from the mall of being able to buy wholesale. The mall is retail, like Littleton, while coin shows are more like wholesale.

Neither is wrong, and I would not call a mall jeweler unethical, simply serve different markets. I just have a problem with anyone calling retail "crooks" or "unethical" or "ripoffs". Every single item in a mall can be bought cheaper if you know how. Knowledge is power, as much in coin collecting as life. At least LIttleton is honest graders, unlike the true ripoff artists. Yes, you pay more, but at least you get an honest coin.

Chris

 

nevermind

 

I have posted 3 times on Littleton since I have been on this board sir. You can go back and check. Twice I was supporting either moderators or Peter. If you are implying something, I have never bought from, sold to, know anyone who works for, know the ownership of, or have ever set foot in, Littleton coin company. The only relationship I have had with them was buying their coins second hand. I found them to be common coins, but at least in collectible condition. I felt bad for the people who bought them, since i knew they took a loss, but at least the loss was not total like so many other sharks in this hobby. I am replying to people saying they are crooks, and simply say they are not this hobbies worst problems and at least they sell decent coins. Are they high? Yes, of course, but so are many retailers. Try buying something from a mall jeweler and try to sell it to another dealer for more than 20% of what you paid.

They are simply high priced retail dealers, but they are not thieves. The phone book could probably not list all of the thieves in this business buying from little old ladies for 3 cents on the dollar, selling harshly cleaned coins as BU, and outright stealing money entrusted to them.

Any post concerning them was to simply put the nature of their business in context. If this upsets you I will stop trying to defend them here.

Chris

 

The matter of the fact is that what Littleton does is unethical, at best.

 

not true, you may not like them but that does not make them "unethical".
they offer coins at a specified price, they don't force anyone to buy them, they don't mis-represent them. many people here have bought SAE's at under spot prices on some of their specials.

 

This the grade Morgan Dollar you should get for that money
Littleton has burn more folk than I can count .
:kewl:

 

They give you a deal to suck you in, then send you stuff without your express consent and overcharge for it. Its legal only because you agree to it to get the good deal. Morally, its just wrong and isn't a legitimate business tactic. Its sleazy and sneaky.

Do you think Legend or Heritage or LSRC or any other respected numismatic dealer would just ship you a coin and charge you for it without you asking for, said coin and authorizing the charge? **** no.