Formula for accumulating a set....

Newcomp103

In the Morgan Dollar book, Q David Bowers gives recommendation to put together a set by establishing a dollar amount per coin (we can use $200.00 as the example) and buy as many MS65 coins that fit within that amount....then get as many MS64s....then MS63s....and so on. Do you agree with this? Do you use it? Do you think it is a nice thought but unrealistic? Give me your opinions. Tell me other "formulas" you have. Thanks!

Shawn

anablep

I have not found this very realistic for my Morgan set.

I prefer to collect by rim toned examples.

I have budget, but trying to pigeon-hole as many Morgans in each grade into that $200 limit won't make for a cohesive set.

What do you want to be the defining feature of your set of coins?

Luster, toning, grade, sharp strike, or $200?

I'd rather have an AU-MS set of rim toned Morgans than $200 boring coins.

JJM

Ive done 2 Morgan date sets, A white set all MS except the 93/95, and a toned set in the same grade range.
Many top tier crackouts in each. I have since sold the white set to pursue early commems , the toners stayed !!!

Just assemble the best coins that you can afford at the time they surface, and the collection will take its own
shape, upgading is fun when your done

droopyd

<< <i>upgading is fun when your done >>



but are we ever really "done," or do we figure out we just can't do it anymore and stay within our means?

JJM

I define "my set", get them all , then upgrade....with "my set" for early commems, its not every one, there a few that I just dont care for, so I have my list, and knock em off.......

DorkGirl

That set would cost $19200.....wow.

Mercury10c

I've done similar to this. I've set a dollar limit per coin, then buy the best grade that I can within that limit.
This is how all of my collections have started off. In theory, I think it's a great idea, in practice it's another story.
I usually end up buying something waaaaay over my limit.

7Jaguars

I try to stick with nice unc (63 with good appearance or better) but start with the keys if at all possible and then step down to the "lesser" coins to fill the gaps and have done a number of denominations this way with good results.

guitarwes

so every coin would be a $200 coin regardless of date/mm/condition?

$19200! wowzers

Newcomp103

<< <i>so every coin would be a $200 coin regardless of date/mm/condition?

$19200! wowzers >>




Not EVERY coin would fit into this price range obviously......but if you can find some of the keys for $200 let me know!

Arizonadesertrat

Several posters have noted the cost for just a set of $200 coins, over $19K. It is very easy to get sucked in by Morgans, shoot for a date/MM set, and then discover you don't have the funds to come close to completing it. My collecting philosophy: start with modest goals, and expand the set as long and interest and funds are there. Be very patient and stay away from coins that are not well struck (this will be very tough for some of the coins) or are too baggy for the assigned grade. If you are looking for coins in the MS64+ grades, clean cheeks count for a lot. At least 20% of the coins that I have seen this year (in first-tier slabs) are low-end or overgraded, so be picky and patient. And don't assume that all Morgans should look like MS65 1880S or 1881S coins---judge each date/MM coin based on other coins having that date/MM (this goes for fullness of strike and luster).
1. Get a coin from each of the mints (P, D, O, S, CC). This is doable for under $850 (retail) in MS65.
2. Then expand to get the 1880CC-1885CC short set (cheaper CC coins), and you probably already have one from (1).
3. Then expand to get one coin from each year Morgans were minted (28 coins), and you already have 40% of them from (1) and (2),
etc.

If you use the Bowers' approach, all you will get for $200 these days in MS65 are generic coins (mostly running at $150 or so full retail) and not one will be an MS65 CC coin. These coins will probably not hold their values, and there are lots of them in the Morgan series. If you hit a wall while collecting, what will you have to show for your money if all you have is a stack of MS65 generics?