Thinking of starting Morgan Dollar XF - AU collection

I guess it was inevitable... my son and were coin hunting yesterday and he got attached to a 1884-O Morgan dollar in the circulated tray at the dealer's so we picked it up. He graded it VF+ maybe XF, and looking at CDN I see that many of the Morgan Dollars are pretty reasonable in that grade range, some even up to AU.

Given his (and my) limited coin investment dollars it seemed to me that shooting for a non-key-date collection in the XF - AU range may be affordable and fun.

I was just wondering if there were any opinion or advice to be had here.

Thanks,
Mike

 

Log in or Sign up to hide this ad.

I too am working on a Morgan set (minus the keys;CC's, 1893S,all 1895's, etc.), and most of my coins are high XF to AU. You'll notice that there are a couple of dates that are common, but have large jumps from either XF to AU or VF to XF. Not knowing what you want or are willing to spend, there may be some dates that you may need to get in lower condition. Some examples, 1883s has a large jump from XF to AU, as does 1884s. 1892s has a large jump from VF to XF, as does 1904s. Just something to consider. Good luck!

 

Maaan, will be a hardy task, best of luck! :thumb:

Phoenix

 

AU is a nice condition to accumulate Morgans in. I have a nice AU set going. In fact, just need 11 more to finish it off. All I need now is a few hundred grand to do so!
Guy~

 

Yes - go for it. Take your time and have fun. Eliminate a few key date and mint marks and it becomes an affordable set.

 

It's an excellent set to work on.

 

its a great way to go. i too have a fairly decent XF-AU set. i am only miss 2 different years to have a complete set. of course i dont have all the mint marks. CC's are getting way to expensive

 

An excellent grade range to collect.
Basically you get the intended detail without a monster price.
And just to show people what a really good coin looks like, pick up one of the common dates in MS-64.
There's plenty of them that won't bust your budget.

 

Good luck on your set. I've been slowly working on a slider set (high-end AU) for a couple of years. It has been my experience that some year/mm combos are hard to find.

 

Be sure that you know the total price of a matched set and plan accordingly. All to often people get started with a set only to realize that it is not realistic to complete. I'm not suggesting this is necessarily the case with the OP, but just wanted to be sure it isn't.

 

i agree also try to buy the best coin you can buy in your budget and buy the keys first

 

I've heard this many times, and I understand the logic. The thinking is one doesn't want to wind up with an almost complete set with a few gaping (and expensive) holes.

But I disagree - I think it's foolish and dangerous to buy keys first, because that is when one is least experienced and least knowledgeable.

Is that a good time to throw down the biggest bucks ?

I say get your feet wet. Study up. Ask lots of questions - people like to talk about their hobbies.

Above all, learn to grade. One should drop big $$$ only when convinced of two things :

• you know what you're doing
• you truly enjoy your endeavor

It takes experience and knowledge, and that takes time.

 

This is a great set and a great way to collect and it doesn't have to be "cheap" just because most of the coins are cheap. You can look for nice attractive coins that are very well struck or maybe just high end for the grade. Many dollars still look PL even in lower grades so you could collect these. There are endless possibilities and you'll find some of the coins are greatly underappreciated

Learning as you collect is always the way to go.

 

take your time and develop a feel for what you like. it is a great set. i am currently 43 coins into a morgan date/mint set. been working on it 3 yrs or so. coin grades tho range from vg 10- ms 65dpl. you have picked a challenging but affordable (for the most part) set. the best thing is that there are a lot of morgans out there, and they are priced reasonably, especially in those grades! take your time, study, and have lots of fun!!!! remember, everyone wants your money, so get the best coin you can for it......best of luck....steve

 

also..never, ever hesitate to ask questions!!!! be informed before you buy your first coin. learn to grade and be patient. study, learn, then purchase.

 

I concur.

 

david bowers offers an excellent strategy for collecting this series (as well as others), in his book : "an experts' guide to collecting and investing in rare coins". i would highly recommend this book as well as other morgan dollar reference material. once again..never hesitate to ask for advice and opinions. it will save you much heartache and money, as well as adding to the enjoyment of your collecting experience. my very best wishes...steve