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Message:: [QUOTE="-jeffB, post: 2367918, member: 27832"]If it were me, I'd hang onto the $40 and look for more opportunities like the $17 Panda. But I'm kind of mercenary that way. If you'd enjoy having a Morgan, then it probably makes sense to buy one. If you want to multiply your money (like by spending it on scrap "in hopes silver goes up"), buying retail stuff at your local coin shop probably isn't the best approach. The dealer needs to make money, and since he knows more than beginning collectors do, you're unlikely to find him selling anything for less than it's worth. (He may well have some stuff that's underpriced, but until you know more than he does -- at least in one or two specialized areas -- you'll only find it by luck.) Now, having said that, scrap silver may be an exception -- dealers also have to move a lot of material, and if they get a big pile of junk silver, they may not take the time to search through it. That gives you an opportunity to "cherry-pick" better coins out of the junk. Again, though, you need knowledge and experience -- to know what coins are better, and to identify problem coins (like a better date coin that's been scrubbed or polished). If you have time to spend on the hobby, though, do it! That's how you get knowledge.[/QUOTE]