How should I approach my collection...

anablep

I am trying to collect uncirculated Morgan dollars in MS 63-64. I am hoping to get a full date set completed first and then maybe move on to the series (very ambitious on a budget, but I'm 31 and I'm in no real rush, so I can finish 20 years from now if need be). Within the year I will have completed all dates except 93, 94, 95. My question is, should I go for a representative coin from each of those three dates in circulated condition and then move on to other common dates in the series or save up for the (expensive) circuated pieces from 93-95. Or skip the three years and save the really difficult years/mm until the absolute end?? I know the 1894-O is probably reasonable. But the other dates... yikes!

Here's where I am now (most in MS63-64, some in AU):
1878 S
1879 P & S
1880 P & S
1881 S
1882 P & CC
1883 P, O & CC
1884 O & CC
1885 P & O
1886 P
1887 P
1888-O
1889 P
1890 P
1896 P
1898-O
1899-O
1900-O
1904-O
1921-P & D

Thanks for reading and for any advice!!

coinlieutenant

I always like to see a matched set. I would say do a date set, as you mentioned but I would do them all in Choice original VF or XF. Believe me, they are hard to find that way...

Just an idea.

nwcs

Go for affordables. Ones like the 95 and 93S are just too high priced to get them representative. I know that for myself, I don't care when I see a great set with the super high priced ones being lower grades. I'm more impressed that they have the holes filled.

Russ

<< <i>How should I approach my collection... >>



Always from the front so you don't surprise the coins.

Russ, NCNE

Tassa

<< <i>Go for affordables. Ones like the 95 and 93S are just too high priced to get them representative. I know that for myself, I don't care when I see a great set with the super high priced ones being lower grades. I'm more impressed that they have the holes filled. >>



I agree.

ldhair

I'm one of those that believe in buying the key dates first.

The price of nice key dates seems to always go up.

Once your past the keys the rest is all down hill

Baley

How should I approach my collection...

I like to sneak up on mine and shout, "BOO!"

seriously, I'd shoot for a matched date set eventually, but for the time being obtain nice, original, circulated examples of the keys. Then when you can afford them in higher grades, you'll have some "blue chips" to trade in (or, more likely, sell to offset the cost of the new ones)

DorkGirl

There is something about filling a hole in your set that feels so good!!!! The day you fill that last hole is---I can't come up with an adjective that completely describes it. Then you can start to upgrade-----just as much fun!!! I bought whatever I could afford to fill the holes, and I am always looking for an upgrade. It's been my experience (and probably everyone else's) that the expensive years and dates don't go down in price, just up. Buy what you can afford right now to fill your date set, then you can sell to finance your upgrades. I think a lot of people here have done that. Looks like you have a great start on your collection. Good luck and have fun completing it.

nwcs

I think the last time I saw an 1893S in PCGS 65 it was priced at $250,000.

SDCollector

Here I go again...

Why not do a circulated Morgan date set like this.

Skipper53

I'm working on the same set.
So far I'm going for the best grade I can afford.
When I find a great deal on one I've got, I replace it.
Eventually, it'll be a great looking set.

nankraut

I agree with Russ...the last thing you need on your hands is a bunch of stampeding coins

anablep

Thank you for all the advice...$250,000 for a 93s in 65 is nuts. I'll be happy just getting nice examples of those key years in circulated condition and as you all said, upgrade later on...



<< <i>I'm one of those that believe in buying the key dates first. >>



Looks like I'm too late for that though...

Thanks again!!

dorkkarl

suggestion: sell all your uncs & pursue xf/au's. it could still take 20 years, but at least you'd have a fighting chance at actually COMPLETING the set some day.

a lot of newbies jump right in collecting mega-dmpl high-grade slabed coins right off the bat, not realizing that unless they hit the lotto, they have no chance of completing the set, & will be frustrated.

same happens when a newbie starts right of dead-set on strictly FSB merc's, or FH slq's in ms-66+++. you got no chance if you start out that way, unless your rich, or are gonna be.

K S

meos1

From the left with short burst of fire as your right flank advances.

Baley

I like your sarcastic but funny answer even better than mine

HalfCents

The only way I know how to collect is to make certain that I can constantly be acquiring the pieces I want. If I buy a nice key, that pretty well blows the annual coin budget, so I can't stay involved on a regular basis, which leads to frustration. A matched set would be awesome to see, and would generate real pride in the accomplishment, but at what cost? If you have the funds to get the keys AND still obtain other coins regularly, then by all means, go for it.

My specialties are a bit different than those awesome Morgans: I like copper. My Large Cents will be nicely "matched" someday, because I am trying to get the late dates in EF to MS; the middle dates in VF to EF, and the early dates in VG to VF. I had to think about what I could afford, and then decide on an approach that would keep me "active". Hope some of this helps.

Tom

anablep

<< <i>suggestion: sell all your uncs & pursue xf/au's. it could still take 20 years, but at least you'd have a fighting chance at actually COMPLETING the set some day. >>



I really enjoy the uncirculated Morgans. I don't mind having some in XF-AU, but there's something about the luster on a MS Morgan that really appeals to me. I wouldn't dream of selling my uncs (especially the CC's).
I do know what you mean by frustration in completion of the set. I'm not worried about it. A nice MS/AU date set would make me happy right now, but 93-95 will have to be VF-XF if I'm lucky...
Thanks!

Merc

Wow, Morgans are very tough for the rare dates. I bought the common dates in 65 a few years ago when they were around $75. The rare dates are so expensive I stopped there

roadrunner

Forget focusing on a set. But rather focus on locating great pieces in a range you can afford. Always go for value. I find that too many people cave in to the "fill the hole" philosophy and settle for something to "fill the hole." If you only end up buying 10 or 30 or 50 pieces you will still have the same number of great pieces. Forget the common dates and just go for value in the better dates.
I think that Morgans have lagged the market in grades of MS61-66 for the past several years and the number of great values is quite large....esp in the $500-$3000 range.

I like the idea of an XF/AU set too. I also like the idea of buying semi scarce or semi-key dates in the MS 65-MS66 range where the pops are low. I think putting together a full set of Morgans in the MS62-MS64 range is a losing proposition long term. While this may be fun and exciting, those are grades where pops are plenty and supply covers the demand. Buy lower pop and scarce coins whether they be XF or MS65/66. The inbetween grades are too plentiful imo. But no doubt they seem to have value and are cheap enough. Do not fall prey to HAVING to complete the set. As others have said, it's a very challening goal and who knows how many things can eventually detrack you.

roadrunner