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Bought my first coin!
VintageJeff
Posts: 1,282 ✭
I just bought my first coin on ebay. I have alot of bullion type coins ASE's, AGE's a buffalo nickel and a lincoln cent collection my uncle gave me when i was a kid but this is my first coin purchase. It is graded by a company I don't know but I think I got a decent deal. Take a look and let me know how i did. Brutally honest is ok I can take it.
coin link
coin link
Collecting
Minnie Minoso Master and Basic
1967 Topps PSA 8+
1960's Topps run Mega Set
"For me, playing baseball has been like a war and I was defending the uniform I wore, Every time I put on the uniform I respected it like the American flag. I wore it like I was representing every Latin country."--Minnie Minoso
Minnie Minoso Master and Basic
1967 Topps PSA 8+
1960's Topps run Mega Set
"For me, playing baseball has been like a war and I was defending the uniform I wore, Every time I put on the uniform I respected it like the American flag. I wore it like I was representing every Latin country."--Minnie Minoso
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Comments
Welcome aboard.
Minnie Minoso Master and Basic
1967 Topps PSA 8+
1960's Topps run Mega Set
"For me, playing baseball has been like a war and I was defending the uniform I wore, Every time I put on the uniform I respected it like the American flag. I wore it like I was representing every Latin country."--Minnie Minoso
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Minnie Minoso Master and Basic
1967 Topps PSA 8+
1960's Topps run Mega Set
"For me, playing baseball has been like a war and I was defending the uniform I wore, Every time I put on the uniform I respected it like the American flag. I wore it like I was representing every Latin country."--Minnie Minoso
I like the toning on it.
US and British coin collector, and creator of The Ultimate Chuck E. Cheese's and Showbiz Pizza Place Token & Ticket Guide
<< <i>I don't think you got burned. I mean, you only paid $31 for it.
I like the toning on it. >>
So did I thats why I bought it. Whether it is actually a 65 is irrelevant to me I just like the way it looks. You guys think its worth a crossover to PCGS?
Minnie Minoso Master and Basic
1967 Topps PSA 8+
1960's Topps run Mega Set
"For me, playing baseball has been like a war and I was defending the uniform I wore, Every time I put on the uniform I respected it like the American flag. I wore it like I was representing every Latin country."--Minnie Minoso
The disclaimer is that many coins in similar off brand holders have serious problems such as cleaning, polishing and the like and are only worth about silver melt value in that condition. From the picture it looks like you lucked out. I say lucked out, because most new collectors couldn't spot a cleaned coin if it was sitting on a brillo pad.
Whatever you do, enjoy the hobby. However, if you become serious about collecting, invest the considerable time and effort to learn how to grade. Being on this forum is a jump start because there are plenty of guess the grade threads and plenty of stories about problem coins too.
<< <i>You guys think its worth a crossover to PCGS? >>
I think its worth a crackout and spot in your (just started) type set.
<< <i>It isn't a bad coin, might be MS63, which means you did well.
The disclaimer is that many coins in similar off brand holders have serious problems such as cleaning, polishing and the like and are only worth about silver melt value in that condition. From the picture it looks like you lucked out. I say lucked out, because most new collectors couldn't spot a cleaned coin if it was sitting on a brillo pad.
Whatever you do, enjoy the hobby. However, if you become serious about collecting, invest the considerable time and effort to learn how to grade. Being on this forum is a jump start because there are plenty of guess the grade threads and plenty of stories about problem coins too. >>
Thanks.... Yeah I am concerned about cleaned coins and AT and I figured I was safe from both on this coin.
Minnie Minoso Master and Basic
1967 Topps PSA 8+
1960's Topps run Mega Set
"For me, playing baseball has been like a war and I was defending the uniform I wore, Every time I put on the uniform I respected it like the American flag. I wore it like I was representing every Latin country."--Minnie Minoso
Nice coin for the price.
If you really want to start learning about Morgans, spend some time at a local or get to a National Show. There are always plenty high grade, toned and blast white Morgans to look at!
The name is LEE!
<< <i>
<< <i>It isn't a bad coin, might be MS63, which means you did well.
The disclaimer is that many coins in similar off brand holders have serious problems such as cleaning, polishing and the like and are only worth about silver melt value in that condition. From the picture it looks like you lucked out. I say lucked out, because most new collectors couldn't spot a cleaned coin if it was sitting on a brillo pad.
Whatever you do, enjoy the hobby. However, if you become serious about collecting, invest the considerable time and effort to learn how to grade. Being on this forum is a jump start because there are plenty of guess the grade threads and plenty of stories about problem coins too. >>
Thanks.... Yeah I am concerned about cleaned coins and AT and I figured I was safe from both on this coin. >>
How do you figure that? Like I said most new collectors can't tell the difference. What about the coin tells you it is likely original? Are you carrying kryptonite in your pocket [attempt at humor]?
How many coins have you looked at? Photos can be deceptive as well. Keep looking at coins, keep talking to people, keep buying small at first and you'll do fine. Almost all collectors make mistakes, try to keep them relatively inexpensive. Overconfidence is the undoing of many a new collector. Many think they can grade and spot doctored coins after buying five coins in a series--it just doesn't work that way, unless a person is a natural talent (about 1 in 1000 people fall into that category, and half of new collectors think they are the one).
In my opinion, it isn't worth trying to cross over this coin unless you want to add the submission fee to your education. I don't think it has much chance at 65, and is most likely a 63 with a shot at 64, and also a shot at the capricious plastic bag and no grade.
Whatever you decide to do, enjoy the hobby.
i think you did great with a "ms" morgan for a first purchase too.welcome to the club kinda thing goes out as recieving coins that you've purchased-"ROCKS"- and can be an addicting thing-fever almost.
just to let you know my first purchase memory goes like this...in the late 60's i won a 1914-d penny on a bid board that i mowed yards for a week for only to find out it was an alterred date.
so yeah you did great in my eyes
<< <i>Yeah my preference is pcgs coins but i want to get a Morgan in hand so I can get to know them a little. >>
Crack that coin out of the holder and keep it raw so you can pick it up now and then(carefully). It's nice to appreciate an old coin like a morgan in hand
you got a fair price. I'll wager it would have gone higher if not for the rip off shipping cost. $9.00! for first class? geez
enjoy the coin
I like the look of the coin; the image leaves alot to be desired though. Its virtually impossible to grade it correctly without the coin in hand. Once you receive the coin, why not submit it to PCGS to "Cross At Any Grade" and see exactly how well you did ? It'll be a learning experience for you; and, not an expensive one at that !!
As most posters have mentioned, though, stick to the top tier TPG's and you'll have alot less to worry about.
Nice looking coin and I hope it does come back a MS 65 at PCGS !! Good Luck !!
~~~~~~~~~~~~
Coin collecting is not a hobby, it's an obsession !
New Barber Purchases
Trust me I learned all about grading companies in my card ventures and know the difference between top tier TPG's and the other guys. I just liked this coin. For $30 it was worth the gamble to me. Keep the comments and the advice coming I appreciate all of them.
Any idea of good coin shops in the northern suburbs of Chicago, I live in Wheeling?
Where is a good place to read about how to grade a coin?
Minnie Minoso Master and Basic
1967 Topps PSA 8+
1960's Topps run Mega Set
"For me, playing baseball has been like a war and I was defending the uniform I wore, Every time I put on the uniform I respected it like the American flag. I wore it like I was representing every Latin country."--Minnie Minoso
<< <i>
<< <i>
<< <i>It isn't a bad coin, might be MS63, which means you did well.
The disclaimer is that many coins in similar off brand holders have serious problems such as cleaning, polishing and the like and are only worth about silver melt value in that condition. From the picture it looks like you lucked out. I say lucked out, because most new collectors couldn't spot a cleaned coin if it was sitting on a brillo pad.
Whatever you do, enjoy the hobby. However, if you become serious about collecting, invest the considerable time and effort to learn how to grade. Being on this forum is a jump start because there are plenty of guess the grade threads and plenty of stories about problem coins too. >>
Thanks.... Yeah I am concerned about cleaned coins and AT and I figured I was safe from both on this coin. >>
How do you figure that? Like I said most new collectors can't tell the difference. What about the coin tells you it is likely original? Are you carrying kryptonite in your pocket [attempt at humor]?
How many coins have you looked at? Photos can be deceptive as well. Keep looking at coins, keep talking to people, keep buying small at first and you'll do fine. Almost all collectors make mistakes, try to keep them relatively inexpensive. Overconfidence is the undoing of many a new collector. Many think they can grade and spot doctored coins after buying five coins in a series--it just doesn't work that way, unless a person is a natural talent (about 1 in 1000 people fall into that category, and half of new collectors think they are the one).
In my opinion, it isn't worth trying to cross over this coin unless you want to add the submission fee to your education. I don't think it has much chance at 65, and is most likely a 63 with a shot at 64, and also a shot at the capricious plastic bag and no grade.
Whatever you decide to do, enjoy the hobby. >>
Well mostly just assumptions. With the looks of the coin and the toing I figured it hadn't been cleaned. As for AT the toning looked natural compared to other NT's I had seen on threads on the boards. As far as what is in my pocket my wife has never called it kryptonite before but I will ask.....
Minnie Minoso Master and Basic
1967 Topps PSA 8+
1960's Topps run Mega Set
"For me, playing baseball has been like a war and I was defending the uniform I wore, Every time I put on the uniform I respected it like the American flag. I wore it like I was representing every Latin country."--Minnie Minoso
AL
I think this was an unusual choice of a first item to buy, particularly given that you seem to be well aware of the differences between first tier and third world grading services and have said that you'd prefer a PCGS coin.
PCGS slabbed Morgans of all grades are readily available on ebay and in most every dealers' inventory online, in coin shops, at shows, etc. You could view and compare literally dozens if not hundreds of examples if you wished.
From what I can see, the coin you have selected has some quite noticeable marks on the cheek and might be anything from a bodybag at PCGS to, IMO a 63 or so.
The risk you took is relatively small in dollar terms, but it was an absolutely needless risk IMO.
<< <i>I'll be the contrarian -
I think this was an unusual choice of a first item to buy, particularly given that you seem to be well aware of the differences between first tier and third world grading services and have said that you'd prefer a PCGS coin.
PCGS slabbed Morgans of all grades are readily available on ebay and in most every dealers' inventory online, in coin shops, at shows, etc. You could view and compare literally dozens if not hundreds of examples if you wished.
From what I can see, the coin you have selected has some quite noticeable marks on the cheek and might be anything from a bodybag at PCGS to, IMO a 63 or so.
The risk you took is relatively small in dollar terms, but it was an absolutely needless risk IMO. >>
Appreciate your take on things. It was an impulse bid, I liked the look of the coin and it was ending in a couple minutes. I corrected that mistake in my second purchase PCGS coin
Minnie Minoso Master and Basic
1967 Topps PSA 8+
1960's Topps run Mega Set
"For me, playing baseball has been like a war and I was defending the uniform I wore, Every time I put on the uniform I respected it like the American flag. I wore it like I was representing every Latin country."--Minnie Minoso
<< <i>Appreciate your take on things. It was an impulse bid, I liked the look of the coin and it was ending in a couple minutes. I corrected that mistake in my second purchase PCGS coin >>
Looks OK. But my next unsolicited advice would be to take one step back and relax. Unless you are living in a remote area where visiting a shop or attending a show is just not possible, I would highly recommend going somewhere where you can view and compare a number of Morgans.
I think you'll find a wide variance in quality - even among PCGS holdered coins - and will get an instant education in what you like and don't like.
Most of all of us have jumped in, bought first, made mistakes (often on eBay) and regretted it. Why not the avoid that?
Minnie Minoso Master and Basic
1967 Topps PSA 8+
1960's Topps run Mega Set
"For me, playing baseball has been like a war and I was defending the uniform I wore, Every time I put on the uniform I respected it like the American flag. I wore it like I was representing every Latin country."--Minnie Minoso
As for auctions and the notion that the market determines the prices, unfortunately that's not necessarily the case in every auction. There is extensive manipulation in many ebay (and other) auctions, and you may in fact be bidding against the seller, his shill, his reserve, etc. And even if the auction is 100% legitimate, there is no guarantee that the underbidder(s) is knowledgeable and has bid a 'safe' amount that makes sense for the item offered.