Morgans in California
jasbucks
Posts: 127 ✭✭
Hey everyone I need some practical experience please. California has a sales tax for the purchase of coins that is eliminated if we purchase over 1k. If we purchase under that I have to pay 7.75% over the cost so it pays....? I've read several books so I guess you could say I am full of it
Most all the books refer to MS65 as the minimum grade for my purposes (investment) My grading eye is very inexperienced, I don't get the opportunity or exposure to raw coins very often so slabbed seems to be the way to go for now until my time parimeters loosen up. Presently, my book of choice is "The Official RED BOOK of Morgan Silver Dollars" by David Bowers. Well, I figure I'm ready to start buying; I look forward to the adventures when time allows the quest for raw Morgans but only in person as pic's/sellers are too deceiving for me. I have received a couple of local Investment House Circulars suggesting a 12 coin short set with advice to fill from there. I called today and it turns out that ALL of the date & Mint mark referenced in the short set are common dates. The rep of the company went so as far as to say that its impossible to complete a set of Morgans today. Well....made me wonder some I've got to say. My thinking is get the harder ones to get now as it can only get harder later on. I don't want a complete set; I just want something I can soak some mad money away that would normally go towards local big game fishin trips & mayby get my money back plus cost of sale, maybe a bit more. 5-10 days with a cost of $1400-$3500. I can't eat or even give that much fish away now so...here I am. Over the past 6 months I have become a coinaholic! My daughter looks like the half of the worm you aren't steppin on over the slightest mention of coins. Help me out please; Statistically, maybe a goofy approach but possibly the top 10 as opposed to the top 100 Morgans? Not having an educated grading eye go slabbed CC's or GSA's or what? So far I've got the PCGSMS 65 1883 O, PCGSMS65 1899-0 and just today I won what looks like a spectacular PCGS old lable MS65 1881 S. The thing is that the Red Book states value about $20-$30 (with sales tax) 
lower than I have been able to score at. Are prices goin up in this manner or am I just not trying hard enough. Thanks in advance & sorry for the long post
Most all the books refer to MS65 as the minimum grade for my purposes (investment) My grading eye is very inexperienced, I don't get the opportunity or exposure to raw coins very often so slabbed seems to be the way to go for now until my time parimeters loosen up. Presently, my book of choice is "The Official RED BOOK of Morgan Silver Dollars" by David Bowers. Well, I figure I'm ready to start buying; I look forward to the adventures when time allows the quest for raw Morgans but only in person as pic's/sellers are too deceiving for me. I have received a couple of local Investment House Circulars suggesting a 12 coin short set with advice to fill from there. I called today and it turns out that ALL of the date & Mint mark referenced in the short set are common dates. The rep of the company went so as far as to say that its impossible to complete a set of Morgans today. Well....made me wonder some I've got to say. My thinking is get the harder ones to get now as it can only get harder later on. I don't want a complete set; I just want something I can soak some mad money away that would normally go towards local big game fishin trips & mayby get my money back plus cost of sale, maybe a bit more. 5-10 days with a cost of $1400-$3500. I can't eat or even give that much fish away now so...here I am. Over the past 6 months I have become a coinaholic! My daughter looks like the half of the worm you aren't steppin on over the slightest mention of coins. Help me out please; Statistically, maybe a goofy approach but possibly the top 10 as opposed to the top 100 Morgans? Not having an educated grading eye go slabbed CC's or GSA's or what? So far I've got the PCGSMS 65 1883 O, PCGSMS65 1899-0 and just today I won what looks like a spectacular PCGS old lable MS65 1881 S. The thing is that the Red Book states value about $20-$30 (with sales tax) lower than I have been able to score at. Are prices goin up in this manner or am I just not trying hard enough. Thanks in advance & sorry for the long post Jack
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It's ok to admit you invest in coins.