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(Need help ASAP) I found these Morgan’s at an antique mall and wondered if I should buy them?

SummerDays3104SummerDays3104 Posts: 499 ✭✭✭✭
edited November 28, 2022 2:29PM in U.S. Coin Forum







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    coinbufcoinbuf Posts: 10,771 ✭✭✭✭✭

    Very common coins that seem slightly over graded (from the pics) priced at full retail so I would pass myself. But if you like them there is little downside to them.

    My Lincoln Registry
    My Collection of Old Holders

    Never a slave to one plastic brand will I ever be.
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    vplite99vplite99 Posts: 1,186 ✭✭✭✭✭

    Pass - I assume the prices are shown.

    Vplite99
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    1madman1madman Posts: 1,298 ✭✭✭✭✭

    No

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    FlyingAlFlyingAl Posts: 2,857 ✭✭✭✭✭

    @SummerDays3104 said:

    @coinbuf said:
    Very common coins that seem slightly over graded (from the pics) priced at full retail so I would pass myself. But if you like them there is little downside to them.

    @vplite99 said:
    Pass - I assume the prices are shown.

    @1madman said:
    No

    Thanks guys, I’ll pass

    Good choice. I expect at least one of those "BU" coins would come back cleaned if sent to a TPG.

    Young Numismatist, Coin Photographer.

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    Jzyskowski1Jzyskowski1 Posts: 6,651 ✭✭✭✭✭

    That’s not a deal if price is as written It’s also not something you would be buried in. Especially if you’re buying multiple items 10-% off is reasonable. Still not something I would buy 😀

    🎶 shout shout, let it all out 🎶

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    Steven59Steven59 Posts: 8,294 ✭✭✭✭✭

    Prices way too high as previously stated.

    "When they can't find anything wrong with you, they create it!"

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    davewesendavewesen Posts: 5,859 ✭✭✭✭✭

    should you buy them?

    if you want a big heavy coin that was used in commerce 100 years ago, yes
    If you think they are cool and you want to add them to your collection, yes
    If you want to buy something worth $100 and you can quickly turn it for a profit, no

    why are you considering buying them?

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    COCollectorCOCollector Posts: 1,295 ✭✭✭✭✭

    Go to the next big National or Regional coin show near you.

    Successful BST transactions with forum members thebigeng, SPalladino, Zoidmeister, coin22lover, coinsarefun, jwitten, CommemKing.

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    grote15grote15 Posts: 29,535 ✭✭✭✭✭

    The $32 price on the circulated Morgan isnt a bad price as its tough to buy silver dollars lower than that price these days. The BU ones look cleaned to me, certainly not original BU and are too highly priced as such.



    Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
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    CoinHoarderCoinHoarder Posts: 2,471 ✭✭✭✭✭

    Personally, I would buy the 1880 Morgan.

    I would pass on the 1921 Morgans. I think they are way too expensive for those coins.

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    leothelyonleothelyon Posts: 8,365 ✭✭✭✭✭

    Melt, they're $16.45 a piece or $49.50 for the 3. Then you have to decide if silver is on the high or low side.....I always push the low side. Likely, the seller has some booth rent so....if you buy them because, heck...they are silver dollars, right? And as you have learned here, they're common and have little future numismatic value if any. I would personally offer $42, seller might come back with $45. But that's still on the silver value high side since the melt value could drop fast someday.

    Leo

    The more qualities observed in a coin, the more desirable that coin becomes!

    My Jefferson Nickel Collection

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    logger7logger7 Posts: 8,094 ✭✭✭✭✭

    Coin insanity = thinking that someone is giving a lot of value away, has not researched what they are selling, sure thing buys. I've been there plenty of times. Travelling around you get a little disoriented. A "find" looks like it is worth buying. Less than a few percent of these types of situations are worth taking seriously and some of them may have other pitfalls such as "hot" material not worth touching with a ten foot pole.

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    CatbertCatbert Posts: 6,605 ✭✭✭✭✭

    My 2 cents. Consolidate cash, be more selective, focus on better quality (less is more) if collecting is the goal vs bullion stacking.

    "Got a flaming heart, can't get my fill"
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    Jzyskowski1Jzyskowski1 Posts: 6,651 ✭✭✭✭✭
    edited November 29, 2022 5:11PM

    Leo. Agree with your principal but please let me know how many culls at $16.45 or anywhere near that your selling and where i can find more because I’ll take em. 😁

    Here’s eBay



    🎶 shout shout, let it all out 🎶

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    jclovescoinsjclovescoins Posts: 1,853 ✭✭✭✭✭

    No. Very common and overpriced

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    MasonGMasonG Posts: 6,268 ✭✭✭✭✭

    @MFeld said:
    Making lowball offers of the type you suggested is a good way to make a bad name for yourself in a hurry.

    A coin shop owner who did this would get ripped to shreds here (deservedly, I might add.)

    Just sayin'.

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    No. If you think you'll get a deal, antique malls are the last place to look.

    delenda est WitterU

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    MasonGMasonG Posts: 6,268 ✭✭✭✭✭

    @EagleScout2017 said:
    No. If you think you'll get a deal, antique malls are the last place to look.

    The only way you'll get a deal is if the mall vendor doesn't know what he has. And with Morgan dollars, that's highly unlikely.

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    @MasonG said:

    @EagleScout2017 said:
    No. If you think you'll get a deal, antique malls are the last place to look.

    The only way you'll get a deal is if the mall vendor doesn't know what he has. And with Morgan dollars, that's highly unlikely.

    Good point. I should have been more specific. Foreign stuff is ripe for the taking, provided you know what to look for. I found a 1913 Canadian Dime (Broad Leaves) in a bag of mixed foreign coins for a few dollars a few years back. That said, 99% of the time, it will be overpriced pre-Euro crap.

    https://www.coinsandcanada.com/coins-prices.php?coin=10-cents-1913

    delenda est WitterU

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    Che_GrapesChe_Grapes Posts: 1,851 ✭✭✭✭✭

    I once got all three 1921 Morgan’s (P, D and the harder in high grades S) for 90 dollars - all BU but not graded.

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    jmlanzafjmlanzaf Posts: 31,997 ✭✭✭✭✭

    @Jzyskowski1 said:
    Leo. Agree with your principal but please let me know how many culls at $16.45 or anywhere near that your selling and where i can find more because I’ll take em. 😁

    Here’s eBay

    I'll buy 1 million cull dollars at that price. PLEASE OFFER. I want to retire.

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    jmlanzafjmlanzaf Posts: 31,997 ✭✭✭✭✭

    @MasonG said:

    @MFeld said:
    Making lowball offers of the type you suggested is a good way to make a bad name for yourself in a hurry.

    A coin shop owner who did this would get ripped to shreds here (deservedly, I might add.)

    Just sayin'.

    That's because dealers are evil and "true collectors" are on the side of angels.

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    leothelyonleothelyon Posts: 8,365 ✭✭✭✭✭

    @Jzyskowski1 said:
    Leo. Agree with your principal but please let me know how many culls at $16.45 or anywhere near that your selling and where i can find more because I’ll take em. 😁

    Here’s eBay



    One can buy uncirculated Morgans at that price, even certified. Ask that seller what he's buying those coins at. Likely at melt value.
    Sure, there are buyers out there thinking they're getting a deal, they obviously have money to burn.

    Leo

    The more qualities observed in a coin, the more desirable that coin becomes!

    My Jefferson Nickel Collection

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    leothelyonleothelyon Posts: 8,365 ✭✭✭✭✭

    @MFeld said:

    @leothelyon said:
    Melt, they're $16.45 a piece or $49.50 for the 3. Then you have to decide if silver is on the high or low side.....I always push the low side. Likely, the seller has some booth rent so....if you buy them because, heck...they are silver dollars, right? And as you have learned here, they're common and have little future numismatic value if any. I would personally offer $42, seller might come back with $45. But that's still on the silver value high side since the melt value could drop fast someday.

    Leo

    Most dealers would pay significantly over the price you recommended offering. And any seller with even a little bit of knowledge isn’t going to sell Morgan dollars at melt value, much less, below melt. Making lowball offers of the type you suggested is a good way to make a bad name for yourself in a hurry.
    Yes, the price of silver could “drop fast someday”. It could also rise fast, instead.

    I sold some silver last year over 27/oz so yeah, it has droped 30% since.

    Leo

    The more qualities observed in a coin, the more desirable that coin becomes!

    My Jefferson Nickel Collection

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    DisneyFanDisneyFan Posts: 1,722 ✭✭✭✭✭

    @SummerDays3104 said:

    Really and truly, I just like silver dollars. I don’t really care about the date as much, but the rarer the better. I want high grade coins for a good price and if I’m being told that it’s not worth it, then I won’t buy it. I know a lot of coins and how they’re minted, but I don’t know about them, if you get what I mean. I don’t necessarily fall in love with every coin I see, but as much as I see it as a hobby, I also see it as an investment.

    I would start by looking at only PCGS graded silver dollars and pick a grade you feel is an attractive grade given the relative price and build your collection around that grade. Maybe later, when you are comfortable grading, search through raw coins.

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    MFeldMFeld Posts: 12,056 ✭✭✭✭✭

    @leothelyon said:

    @MFeld said:

    @leothelyon said:
    Melt, they're $16.45 a piece or $49.50 for the 3. Then you have to decide if silver is on the high or low side.....I always push the low side. Likely, the seller has some booth rent so....if you buy them because, heck...they are silver dollars, right? And as you have learned here, they're common and have little future numismatic value if any. I would personally offer $42, seller might come back with $45. But that's still on the silver value high side since the melt value could drop fast someday.

    Leo

    Most dealers would pay significantly over the price you recommended offering. And any seller with even a little bit of knowledge isn’t going to sell Morgan dollars at melt value, much less, below melt. Making lowball offers of the type you suggested is a good way to make a bad name for yourself in a hurry.
    Yes, the price of silver could “drop fast someday”. It could also rise fast, instead.

    I sold some silver last year over 27/oz so yeah, it has droped 30% since.

    Leo

    That’s irrelevant, when considering the current fair market value of circulated silver dollars. Your suggested lowball offer price was approximately 60% of what many dealers would pay.

    Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.

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    rec78rec78 Posts: 5,691 ✭✭✭✭✭
    edited November 30, 2022 3:30AM

    No, they are common everyday coins and are overgraded. If you can bargain them down a little then it may be an OK bullion purchase. The 1880 is G at best. The 1921-P has been cleaned and is not BU. The 1921-s is just so-so.

    image
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    jmlanzafjmlanzaf Posts: 31,997 ✭✭✭✭✭

    @leothelyon said:

    @Jzyskowski1 said:
    Leo. Agree with your principal but please let me know how many culls at $16.45 or anywhere near that your selling and where i can find more because I’ll take em. 😁

    Here’s eBay



    One can buy uncirculated Morgans at that price, even certified. Ask that seller what he's buying those coins at. Likely at melt value.
    Sure, there are buyers out there thinking they're getting a deal, they obviously have money to burn.

    Leo

    Nobody other than pawn shops. You can ship them to a wholesaler at 26. You are simply wrong about the value. Rather than call everyone else a crook, just own the error.

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    rickoricko Posts: 98,724 ✭✭✭✭✭

    @SummerDays3104 .... I am glad you passed on those Morgans. Antique shops with coins are almost always overpriced. I have a couple of antique shops here in town. I visit them a couple times a year. The prices are high even when melt is high, and they don't change when silver goes down. For some reason, the sellers think old silver coins are super valuable... Some are, but none I have seen in these shops were worth anywhere near the prices marked. Cheers, RickO

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    LanceNewmanOCCLanceNewmanOCC Posts: 19,999 ✭✭✭✭✭

    @jmlanzaf said:

    @MasonG said:

    @MFeld said:

    That's because dealers are evil and "true collectors" are on the side of angels.

    .
    probably has something to do why it is called "collector's universe" as oppose to dealer's universe. ;)

    <--- look what's behind the mask! - cool link 1/NO ~ 2/NNP ~ 3/NNC ~ 4/CF ~ 5/PG ~ 6/Cert ~ 7/NGC 7a/NGC pop~ 8/NGCF ~ 9/HA archives ~ 10/PM ~ 11/NM ~ 12/ANACS cert ~ 13/ANACS pop - report fakes 1/ACEF ~ report fakes/thefts 1/NCIS - Numi-Classes SS ~ Bass ~ Transcribed Docs NNP - clashed coins - error training - V V mm styles -

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    telephoto1telephoto1 Posts: 4,751 ✭✭✭✭✭

    As soon as I saw the words "antique mall" I pretty much knew the answer...that said, the pre-'21 piece isn't a terrible deal at $32. The cleaned 1921 dated examples are overpriced.


    RIP Mom- 1932-2012
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    coastaljerseyguycoastaljerseyguy Posts: 1,250 ✭✭✭✭✭

    UNC Morgans, certified for $32, sign me up.

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    MasonGMasonG Posts: 6,268 ✭✭✭✭✭

    @LanceNewmanOCC said:

    @jmlanzaf said:

    @MasonG said:

    @MFeld said:

    That's because dealers are evil and "true collectors" are on the side of angels.

    .
    probably has something to do why it is called "collector's universe" as oppose to dealer's universe. ;)

    U.S. Coin Forum
    Talk about all types of U.S. coins with other collectors, dealers, and experts.

    Just sayin'. :)

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    telephoto1telephoto1 Posts: 4,751 ✭✭✭✭✭

    @leothelyon said:

    One can buy uncirculated Morgans at that price, even certified. Ask that seller what he's buying those coins at. Likely at melt value.
    Sure, there are buyers out there thinking they're getting a deal, they obviously have money to burn.

    Leo

    Sorry but no, and most certainly not in this market. And I'll gladly look at any link you can provide to anyone offering slabbed non-details graded BU Morgans at $32.


    RIP Mom- 1932-2012
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    IkesTIkesT Posts: 2,601 ✭✭✭✭✭

    Let me try this with some added text, since the spam filter keeps blocking it. Here’s hoping that this will work!
    .
    .

    I want high grade coins for a good price and if I’m being told that it’s not worth it, then I won’t buy it.

    If that’s what you want to do, you need to learn to tell you what the coins are worth. You can research the prices of certified, graded coins for free on CoinFacts and various auction sites. As spyglassdesign pointed out, it is safer for you to buy certified coins while you are learning. If you want to buy uncertified coins for a good price, you will need to learn how to grade. In addition to the resources mentioned by spyglassdesign, there are books (e.g., Making the Grade) written on the subject. You will also need to learn how to recognize problem coins (e.g., cleaned & damaged coins) and counterfeits.
    .
    .

    Really and truly, I just like silver dollars.

    That's a start. A strong interest in a particular group of coins can motivate your research, and the more research you do, the more successful you will be.

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    1madman1madman Posts: 1,298 ✭✭✭✭✭

    @jmlanzaf said:

    @Jzyskowski1 said:
    Leo. Agree with your principal but please let me know how many culls at $16.45 or anywhere near that your selling and where i can find more because I’ll take em. 😁

    Here’s eBay

    I'll buy 1 million cull dollars at that price. PLEASE OFFER. I want to retire.

    If you’ve got $16.5 million in cash right now to buy the Morgans, isn’t that enough money to retire already? Guess I live too sheltered and within my means

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    leothelyonleothelyon Posts: 8,365 ✭✭✭✭✭

    @coastaljerseyguy said:
    UNC Morgans, certified for $32, sign me up.

    Do you need a link for ebay? lol

    The more qualities observed in a coin, the more desirable that coin becomes!

    My Jefferson Nickel Collection

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    coastaljerseyguycoastaljerseyguy Posts: 1,250 ✭✭✭✭✭

    @leothelyon said:

    @coastaljerseyguy said:
    UNC Morgans, certified for $32, sign me up.

    Do you need a link for ebay? lol

    Yes please send me what you see. Here's 2 common generic low grade Morgans and these are current bid prices and will probably end over $50.

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    leothelyonleothelyon Posts: 8,365 ✭✭✭✭✭
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    coastaljerseyguycoastaljerseyguy Posts: 1,250 ✭✭✭✭✭

    Those are all bid prices still in play. Look at the PCGS recent Auction prices for 81S in MS 62. All over $50 and some over $60 I know most folks are tuned you out with your outrageous comments earlier, and I will do the same. Surprised with so many contributed discussions you know so little.

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    leothelyonleothelyon Posts: 8,365 ✭✭✭✭✭

    @coastaljerseyguy said:
    Those are all bid prices still in play. Look at the PCGS recent Auction prices for 81S in MS 62. All over $50 and some over $60 I know most folks are tuned you out with your outrageous comments earlier, and I will do the same. Surprised with so many contributed discussions you know so little.

    At least they'e better than paying $32 for a worn out POS.

    Leo

    The more qualities observed in a coin, the more desirable that coin becomes!

    My Jefferson Nickel Collection

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