Morgan Dollar Set Thoughts

So, my all-time favorite US coin is the Morgan Dollar. It always has been and it always will be. One of my earliest "coin memories" is my dad showing me an 1886 Morgan that his grandmother had given him. This was just after I had started to get interested in collecting (not long after I saw his Whitman folder with the "amazing" 1943 cents).

As I got into the hobby more and more as a kid, I started to pick up Morgans and put them in a Dansco. Most of what I have are common dates but some better one's and a couple problem coins because I could afford them (1893 with graffiti, 1893-CC cleaned) to fill the holes.

My ultimate dream was a registry style high grade set. Over the last 20 years, I haven't picked up many Morgan's because I don't have the finances to really dive into a high end set enough and didn't want to sell myself short. So, I sorta just studied the coin and dreamed.

The more I studied the set, the more I realized that it might be fun to just assemble a lower grade date/mm set. It still would be challenging hunting down attractive problem free coins but if I limited myself to the VG-F range, it would probably be doable. Plus, it would be a very uniform set and a fun project. This is probably the only grade range I would be able to get the 1889-CC and 1893-S in anyway.

I figure this would make a nice Dansco album set.

For some reason, part of me feels like not going for the highest grade possible is somehow "cheating" but I don't know why I feel that way. I think this is a project that I could reasonably do and enjoy doing it. Thoughts?

I think I would probably just start from scratch. The coins I collected as a kid are in a Dansco...and I'd probably just leave them as is.

 

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Not cheating at all!

Some of the nicer sets I've seen are those that are precisely matched in tone, color, grade, etc.

I've kicked the idea around as well, and if I ever do it, it will be as you describe, in lower grades; I'll never be able to afford a complete set any other way.

 

My set is just a date set in a Dansco 7171 album. Several holes are still empty.

 

I think it’s a good idea. I had thoughts of doing the cc dates in ms with maybe the 89 in au but I realized the tougher dates even in ms most of the coins are ugly and expensive. A nice well matched circulated set in original gray would be an impressive group for sure. Like what Justin (Log Potato) is doing with barber halves. No I don’t think it’s cheating at all. And I think it’ll be more challenging than you think

 

I did this set in a Dansco at a young age. Didn't have much to spend but had a great time. I put it away when it was about 90% complete. I didn't have the money to complete it. I guess I learned not to blow my budget trying. Today, the set is still part of my collection and I still love it. I no longer try to complete any set. I have fun just finding pretty coins of any type.

 

Not cheating, that's exactly what I'm doing in the Dansco albums, well circulated examples to maintain aesthetic balance between the common dates and the keys that are only affordable for me in ag-vg condition. My twist to keep it interesting is keying on list VAMs (including the WOW list) whenever possible. Enjoy the hunt!

 

There's a big difference between a registry set and plugging holes. You're not cheating, but having fun. Just balance the set for color, grade and condition of the coin.

 

OK...then that's what I will do. I think my goal will be VG-F range. I prefer coins with full rims in this series. I like that nice circulated grey...not much darkness. I guess I need to look into album types and see if I want to stick with a Dansco or go with something else.

 

I find circulated Morgans to have a nice look. I once did a dansco date set, shooting for some of the better date/mm combos. I was thinking you could start with that and then decide if you want to keep going.

Edit - I do like enough detail left that Liberty's eye is clearly outlined... below that they lose eye appeal.

 

Sounds like a good project. Be aware though that even in fine, a set of business strike Morgans that is complete by date and mint mark is about 100 coins and will set you back about $10K. If you shoot for VF/EF, it will cost about twice that.

To prove to yourself that you're really serious, start with one or more of the key dates.

You could also elect to do just one of the branch mints which would reduce the number of coins considerably. It would be really cheap to do a complete D-mint set of Morgans in high grade.

Cal

 

There are choice coins and absolute pigs in every grade and for every budget. Buy the choice coins that are a fit for you. My Morgan set might not make it into the top 100 on the PCGS registry by the time I finish it, but that doesn't mean I'm not enjoying putting it together. Grades of current coins range from VG10 (89-CC) to MS67 (81-S), so I'm not too worried about at matched set. If you are building a circulated set, you'll find that one of the most difficult dates (not the most expensive) will be 1898-O.

 

Because every time a new collector comes by and asks about buying coins it seems like everyone bombards them with the advice to "buy the best coins/ highest grades you can". It makes people feel that if they can't or don't buy MS coins then what they have is junk. Or at least subconciously implants that thought into their heads.

 

Buy the best coin you can? Yes
highest grade? No

It shouldn’t! A really nice VF35 can be more eye appealing than an average XF40. AU58s are more often than not beautiful coins, we all know that. Still, I buy the best coins I can afford and usually don’t regret it.

 

Maybe your right. I have been studying this series for over 20 years but maybe I got that ingrained in my from an early age. I'm kind of a perfectionist anyway...so that probably doesn't help.

I think there would be some real challenge in putting together a nice esthetic VG-F set. I won't be cheap by any means...but I think it would be fun and as a long term goal attainable.

 

I too am a lover of the Morgan Silver Dollar. There are a lot of great comments/advise already in this thread.

Remember, this is YOUR collection. I strived for a high grade Morgan set, but also came to the conclusion that I would never finish it for a variety of reason.

I like the idea of a circulated set. But, IMO, I think you need to splurge on one high grade coin. I'd shoot for '78 S through '82 S. Find one in a grade you can afford and have it as your set beacon.

EF to XF coins can be very attractive. The cool thing about a circulated coin is it's potential history. What was purchased with that coin?

Have fun putting together your set. Remember to post your latest acquisitions to the site.

 

I actually already have several. The first Morgan I ever bought as a kid as a 1881-S, a lovely BU example with a PL feel.

Ultimately, I do want to get a high end graded DMPL example and maybe even a proof one day. But...I just don't see myself ever dedicating the financial resources to put together a truly high grade set. I have too many other interests to invest that many resources into one set.

 

I do love the Morgan DPL. I have a few. Some are in GSA holders. One of the reasons I stopped trying to complete my Morgan collection is for the same reason you stated. I like too many other coin designs. I started to focus on a Type set and a Peace Dollar set. For the Peace Dollars, I'm finding it hard to locate "S" mint mark coins that I like. It amazes me that San Fran produced some of the greatest Morgans, yet some of the worst Peace Dollars.

 

With Morgan’s is probably actually harder to put together a set in that grade range than an uncirc set.

 

You know...I was thinking about that yesterday. I realized I had NEVER seen a VG 1881-S Morgan (at least as far as I could remember). I actually did a search on eBay to see if I could find one just to say I had. They exist...but it was odd.

 

There’s a few of them that you really have to actively search out lower grades to find them that low