Morgan Dollar Inheritance

MoneyLA

When I was about ten years old, in 1962, I remember my grandfather giving my mother a "special silver dollar." This dollar was one of three dollars paid to my great-grandfather Victor in his first "pay envleope" back around 1900. My grandpa Morris had kept those three silver dollars after they were passed on to him. Now, he was giving one to my mother and one to my aunt and uncle, his other two children.

I dont know what happened to the other hand-me-down dollars, but I remember saying something to my mother that "gee, can I have it for my collection?" She said no, it was hers to remember her grandfather Victor and father Morris by.

She had the silver dollar dipped in gold, and had a hook soldered to it and put it on a chain. I remember her wearing it. I think big things like that were in style in the 1960s along with those things guys wore around their necks with those Nehru suits.

Anyway, the silver dollar was lost and forgotten for years and years. I didnt remember the date, let alone the coin.

My mom passed away earlier this year, and in the mail today my sister sent me the silver dollar with the chain and the gold dip faded but still evident. What a surprise -- she found it while going through an old jewelry box of my mom's at her retirement home in Florida.

Of course, now I was really curious about the coin -- especially the date of the hand me down silver dollar -- the one my Great Grandfather Victor earned around the 1900.

1884-S.

In its present condition, with the gold dip and the soldered ring, and the nicks and scratches from being worn as jewelry -- this coin won't find its way into a slab. But it's in my heart and will always be a special collector piece.

But darn... why didnt Mom give it to me years ago?

cheers, Alan Mendelson

DAM

Sorry for the loss of your mom Alan.

I've got a large cent my grandparents gave me about 25 years ago. Its so worn it would grade P0. My grandmother said it belonged to her father. I'm sure it was mixed in with some of his personal belongings and kept as a keepsake. It has no value in its current condition, but, that coin means as much to me as any coin in my collection.

DAM

prooflike

She didn't give it to you years ago because then it would have meant nothing to you.

coinrookie

Yes, never confuse a coin`s monetary value with it`s true worth.

daveyn

Neat story Allen, wish I had such a piece in my collection. I collect with my 12 yr old now and have a 21 yr old son. I look forward to collecting with my future grand kids ,and hope to have something nice to leave them.
Just think of the treasure you will be able to leave behind when your turn comes, be ready.


Daveyn

MoneyLA

Daveyn thanks for the nice thoughts but unfortunately I think coin collecting will not pass to the next generation. My son is 22, my daughter is 20, and neither have any interest in coins or any collectibles for that matter -- unless you consider CDs and LP disc-jockey albums collectibles.

One of the things we (the guys) notice at a weekly bid board we attend on Tuesday nights is that "the crowd" is getting older and older and there are no newcomers, no young blood.

This makes us wonder how someday in the future the coin market might collapse under the weight of beneficiaries dumping the coins they received as inheritance -- much in the same way that condominiums are dumped in South Florida when parents and grandparents pass away. This is in fact one reason why real estate appreciation in the So Fla condo market is so low, and for years was non-existant. Will coins suffer the same fate?

Sure there are the few and the glorious -- the true gems that will always maintain their values and climb in value among the core of collectors. But the "rank and file" collections could be headed for the liquidation heap someday for a lack of new blood to buy them up and take them off the market.

Okay... enough deep thinking from me. Im still looking for my next collection to replace the proof Washingtons. I picked up a very nice 1950 Linc proof this week with an exceptionally strong strike and very clean surfaces. Im hoping for a PR67 but will be very happy with a PR66Red and if it comes back like that proof Lincs might be my next project.

cheers, Alan Mendelson

howie08

Alan :
I do a little swap mart thing on the week-ends , where I take some of my duplicates to sell . No high dollar stuff ; just mainly hole fillers , and see lots of new people collecting. I think the state quarter thing has been especially good for our hobby. Whenever a young person comes to my table , I ask them if they collect the new quarters. If they reply in the affirmative , I always give them the latest issue in the P mint , as all we get in Az. is the D mints. Now I'm starting to get the same kids back soon after each issue is released , for their " free " quarter. It's fine with me. I'm glad to see them sticking with it , and hope they'll branch off into other series. My kids collect also , and we do it as a family hobby , so hope when my coins get passed on , they stay in the family and don't get dumped . What worked for me , was passing coins down to the kids from my registry sets , and starting them their own registry sets. This really got them interested in it ; watching their sets grow and advance ; never a threat to any top sets , buts lots of fun for them. Good Luck !!
Howie

goose3

great story!

I have some gold pieces that were my grandfather's. He is the reason I collect today. They are housed in 2by2's with his unique handwriting on them. I wouldn't trade/sell those for anything!

quarterjack

Alan, my condolences. Sometimes it's a little momento like the dollar that you wouldn't ever even try to put a value on! My grandfather left me his gold watch he used for years on the Norfolk&Southern Railroad, it's pretty beat up and no longer works but i wouldn't trade it for the world. Good to see you on the boards again.
Just sold a 1950Prf. 66RED cent last month, are you turning to the cents for your next project?

Good Luck,Dave