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<p>[QUOTE=&quot;RedTiger, post: 842806, member: 19098&quot;]Yes, for the novice, they&#039;ll be far better off buying 90% silver than certified MS67 Morgan toners at Ebay auction, just on spreads alone. A low end MS67 coin is typically worth 1/3 to 1/2 the price of superb examples. Does a novice have a good chance at determining which are the superb examples? The novice is doing well if they can determine MS65 from MS67 with any consistency, much less the finer points of what constitutes a nice MS67 from a low end example.</p><p><br /></p><p>If the novice shops for MS67 Morgans on Ebay mostly on price, as it seems like you are advocating, guess what the novice ends up with? The novice will often end up with coins in a high grade holder that high end retail dealers want no part of, and that many experienced collectors actually wince at when they see. </p><p><br /></p><p>To be clear, I&#039;ll repeat that my opinion is that this strategy with that particular kind of coin linked (MS67 Morgan toner), is close to the worst way for a novice coin investor to proceed. I am not making any comment on the specific coin, or the specific ebay parties involved. That is separate. I am talking about process, and about investing, not hobby stuff. </p><p><br /></p><p>Again, let me explain more about certified coins for the many novice readers. Not all MS65 coins are created equal. At true auction, with mostly veteran collectors and experienced dealers bidding, the low end coins will typically sell for half of what the nicer examples sell for. And that&#039;s not taking into account toning, or different grading companies. I&#039;m talking the same date/mintmark, same company&#039;s holder. Go up to MS67 and the price ranges get even wider than at MS65. Shop at true auction mostly based on price, and for the most part the novice will be buying the low end coins.</p><p><br /></p><p>Again I&#039;ll repeat, that typically it will take a year or more of involvement at the hobby level, for a novice collector to understand the basics of grading. Typically five years or more to understand the finer points of high grade mint state grading. Yes, there are a few exceptionally talented novices that learn faster, but there are far more folks that will take longer than average.[/QUOTE]</p><p><br /></p>

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