Sold a few Morgans today—FWIW

For anyone wondering about the investment potential of common date/grade coins, I'm offering this small example in today's market.

I sold six common Morgans today to a dealer I like and have worked with before. All six happened to have been purchased in 2009. All are blast white, good luster, good for the grade, no spots or specks, all selected for eye appeal.

I paid $616 in total for these six. Knowing the market is soft, I was hoping for blue sheet bid ($587) and received $515, or 84% of cost.

For reference, had I put the $616 in a mutual fund paying 5% annually over the past 8 years, I would've netted $910.

The Morgans are:
1878S PCGS MS 63 PL
1878S PCGS MS 64
1880S NGC MS 64
1881S NGC MS 65
1885 NGC MS 65
1890S NGC MS 63

 

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Proof positive there.

 

What? That he paid way too much in '09.

 

I believe I paid grey sheet bid (or less) for all but two and just a bit more for those two. Other than during silver's run-up, the market's been soft since.

 

Yeah, but look at all of the fun you would have missed.........

 

That's how I look at it—I enjoyed them while I had them!

 

As well you should have..........you were the curator of some pieces most historical. You held them in your possession, and looked upon them from time to time. In some ways, they were your children, but like children (they grow up) there comes the time when you have to let them go. You are more the better for experiencing the 'hands on' aspect than the investing aspect. It's the sort of thing that collectors do. Unconditional love of the hobby, with nary a thought of proper gain..........

 

2009 was at the high side of the market; making money on coins purchased then would be really tough today. Anyway, if I were collecting fir profit, I'd have chosen a different hobby.

 

Would you actually have got 5% in a fund over the last 10 years? Maybe, this has been a large artificial run up. I don't know that this would be typical for a 10 year span and there is little was to know in advance unless you have inside knowledge.

 

That coins are not an investment.

 

What are they then? Trinkets?

 

Collectibles........investment in coins is a fools errand.

 

Nah, just an anecdote. Or, to be fairer, a representative example.

 

I sold most all of my collection in 2011, so I've been more of a buyer lately than a seller, as far as coins being an investment, I look at them more as savings. A way of protecting my hard earned dollars and it's purchasing power. My investments (rentals and even my backhoe and skid steer) provide me with the funds to have savings and my savings (like in 2011) allow me to have have more investments. That's the way it works for me anyway.

 

Part of the point of my post is the acknowledgement of timing. The S&P 500 certainly has done better than 5%/year since 2009; whether it's done so including the previous two years of the recession, I don't know offhand.

 

Well, your stock (coins) will always be worth something to somebody. But the true value lies within.........I'll never recoup what I've lay'ed out......don't give a boinker neither.

 

Surprise, surprise!

The moment I opened this thread, I fully expected someone to either belittle/berate the dealer, or blame all on the OP, even though this really is a good example of the realities of this hobby. It's very unfortunate, and simply because threads like this serve a valuable purpose for those inclined to actually listen. Kudos for taking the time to share your experience, sir.

 

I'd like to think it's fairly representative (i.e., more than an outlying anecdote) given the items and time frame.

 

That's a shame because I've made out very well.

 

Did you VAM the 78s's?