The "do I collect high grade common Morgans or low grade key date" dilemma

piecesofme

Having sold a good portion of my .999 silver for a 47% overall profit recently, I find myself wanting to get back into coins. I once had an incredible CC Morgan collection, then sold it off to get into the precious metals market. Now that that has peaked imo and I'm out of it with a nice profit although I am holding onto my "collectible" bars and actually still adding to that area, I am debating on what I want to start collecting again.
Sway me in a direction if you can. I want to collect Morgans but I am mulling over what I should go for...high grade common date/mintmark Morgans or lowgrade (or better said, the highest grade I can afford) key dates. I don't want to do both.
Any and all advice is welcomed. Thanks

stealer

High grade common dates will probably be easier to unload in the event you need quick cash.

Key dates give some people more enjoyment based on their mintage numbers if you're into that.

roadrunner

I think the sweet spot for total returns will be in the common dates from circ to MS65. I think fun could be had assembling a MS64-65 set of all the more common dates.
You could alter this accordingly to make a grading set of MS63 to MS65 for each date, or only choose orig white or attractive toned orig coins. Semi PL or PL coins could be another
way to do it w/o breaking the bank and staying near generic price levels. Another option is all the commoner dates that cost under say $50/$80 which might be up to 70-80 diff dates
and major varieties. If it were me I'd still want the exposure to the silver metal should/if silver decide to head back into the $40's. Don't see a lot of potential upside for key dates or
MS66-67 gem common dates. If silver drops, the prices of MS63 to MS65 commons won't change all that much, it will be buffered somewhat. Higher grade commons get my vote.
A circ VF-AU set (less keys and semi-keys) would still be quite challenging, most desireable, and not that easy to do in original, problem free condition. If you want to add some of
the worthwhile semi-keys and keys in the process it won't hurt. I wouldn't want a F-XF 93-s but would welcome going after VF's to XF's of all the other S mints.

TennesseeDave

I would recommend that you avoid collecting Trade $'s

mkman123

Collect what you like

mrearlygold

Let some coins "model" and see what you like. Here's a lower grade key date ( is this low enough, too low or just right? ) ( someone please post a higher grade common )

blu62vette

I know what I would go for:

DennisH

The first time around, when I was putting together a set, I went for high grade (66) on the commons.

Now I focus on much better dates in problem-free grades that I can afford, and pretty much ignore everything else.

Tiny

Well I did the same thing you did. I had 95 Morgans to a Registry Set and got tired of them and sold them. Decided to
collect just one date and mint mark. Been at it for about 8 months now and have a pretty good start.


1879 – S Morgan DOLLARS


PCGS
Genuine Tone
AU 58
MS 61 PL Rattler
MS 62 PL
MS 62 (3)
MS 63 PQ (3)
MS 63 Tone (3)
MS 63 PL Rattler
MS 63 PL OGH
MS 63 Rattler
MS 63 Rattler Tone
MS 63 Doily PQ
MS 63+
MS 64 Rattler (3)
MS 64 Tone (6)
MS 64
MS 64 PQ
MS 64+ Tone (2)
MS 65 Rattler PQ
MS 65 Pink Ribbon Slab
MS 65+ PQ Very
MS 66 Green Bean PQ
MS 66 OGH

ICG
MS 63 Tone (2)
MS 63 (2)
MS 64

ANACS
MS 62 Tone Yellow
MS 62 OBV PL Yellow
MS 63 Tone Yellow (3)
MS 63 Tone Blue Slab
MS 63 OBV PL Yellow Slab
MS 64 Yellow (3)
MS 64 S/S Tone Yellow
MS 64 VAM-3 Tone Blue

ANACS (OLD)
MS 60 Tone
MS 62 Tone (2)
MS 62 PL Tone
MS 63 Tone (4)
MS 63 PL Tone (2)
MS 64 PQ
MS 64 Tone (2)

PCI
MS 63 Green Holder
MS 64 Tone Green Holder
MS 64
MS 65 2002 Public Sale ARK Silver Estate


NGC
B U (2)
MS 61 (2)
MS 62
MS 62 * STAR
MS 63
MS 63 Tone (5)
MS 63 PL
MS 63 * STAR
MS 63 * STAR Tone
MS 64 PQ
MS 64 Tone (7)
MS 64 * STAR (2)
MS 65 PQ
MS 65 Tone
MS 66 PQ


OFF BRAND TPG

Photo-Certified Coin Institute
MS 62 ( MS 63 + )
MS 63 ( 64 )

National Grading Certificaton Service
MS 66 Prooflike ( MS 64 + PL Caneo )

Numismatic Certification Institute
MS 65 / MS 65 ( MS 66 + )


Blue San Francisco Screw Down Slab ( MS 64 )

Buzzybest

If it helps to know,I went from Modern gold and silver commemoratives to Morgans to Morgan VAMS over the last 2 years. I am very happy with this decision,and when I have a few more than 15 coins,I will think about a registry set.

Fountainhead

The young crowd doesn't know Morgans from Maple Leafs so collect what's shiny and colorful rather than what's dull and key.

crypto79

Consider looking at different series that might be more obtainable in a focused look. If you like historic silver dollars there are more options out there
Fun set but one of may options

greghansen

I don't know how you can get hurt too bad with MS67 CAC Common Date Morgans under $700.

DorkGirl

<< <i>Collect what you like >>

MidLifeCrisis

It seems to me that you only have a half-hearted interest in either option. I suspect you really want to collect high-grade key dates.

My suggestion: Find something else to collect that really gets you excited...or save your money.

HighRelief

My thought on it is that common date MS63 Morgan's in DMPL are under priced and you still get a nice coin out of it. But then again I have always bought the best that I could afford and that has paid off very nicely.

Good luck with your decision.

TwoSides2aCoin

If you get an itch, scratch it.
If you got a niche, don't.

piecesofme

Thanks for the ideas folks. I'm still mulling it over. The DMPL thing sounds interesting but I wonder if paying the premium would be worth it when it comes time to sell?
roadrunners post makes a lot of sense too about not getting hit too hard going that route if things fall off.

Keep the ideas coming.

Baley

I want to collect Morgans but I am mulling over what I should go for...high grade common date/mintmark Morgans or lowgrade (or better said, the highest grade I can afford) key dates. I don't want to do both.

my advice is to reconsider, and do both, if you like Morgans. even better advice is to forget Morgans and collect a type set of pre-1836 coins

Analyst

‭Baley: <<... even better advice is to forget Morgans and collect a type set of pre-1836 coins. >>

‭Certainly, it is true that pre-1836 coins are dramatically scarcer, even 'type' coins. Also, many Liberty Seated coins are truly rare.

‭IMO, when thinking about the commonality of some coins, it is important to think about just how ‘common’ they are. Many classic U.S. coins are more common than some collectors believe them to be.

‭Where should the line be drawn between scarce and common? What is meant by ‘common’ anyway?

‭Are Many Classic U.S. Coins Common?

Condition Rarity, Silver Washington Quarters

Collecting Modern Coins

Cougar1978

Coin collecting is a hobby with high buy / sell spreads. I would collect what I like and find fascinating whether common date high grade generics, better date expensive coins, Mexican bullion Libertads, Modern Gold or currency. World currency is gaining momentum especially considering the interest it was generating at the Memphis Paper Money Show (I have a stack of 100 Gem CU modern African notes I bought for $48 from a bullion dealer at a show awhile back and they now catalog for $20 each - show me a coin that has done that well LOL). On the other hand, I feel the money has been wrung out of a lot of coins considering the crackout and sticker games. I see many bids in the CDN stagnant. I also reject the notion one has to buy MS67 generic morgan dollars (which bid around $600) when a nice MS 63 or 64 can be procured for around one tenth of that Duh!

Recently while looking at the Apmex site on ebay I saw a lot of interesting coins which basically float with bullion. Now I have no interest in doing any business with them (use them as a pricing reference) as I can do much better with a bullion dealer at a show vs paying roughly $5 shipping on a $37 coin. If your worried about taking a beating with numismatics if having to sell in a bind (like unemployment) you have a very valid concern. There is nothing wrong with collecting nice bullion coins. Its your hobby and its your money which you better spend wisely. The only downside is a drop in bullion. If I could go back 20 years ago I think I would have specialized in something like world gold with a huge silver and gold bullion stockpile. Take a look at the graphs in the bluesheet and there are numismatic issues still losing money compared to 20 years ago. Don't invest beyond your budget.

I am in numismatics as a dealer as I am out to make a plan return on what I invest in my (hobby related) business. I try to buy material at no more than 60-70% of what I can sell it for. Pay more than that and I won't make target P&L considering the costs of being in the business. I do keep a considerable stockpile of bullion coins and semi numismatics.

Collect what you like and fits your budget. Above all don't be taken by somebody's fancy marketing letter they call a newsletter touting some expensive generic like those are somehow hot items LOL. There are many inexpensive slabbed numismatic coins for under $50 like Sac Dollars in 69DC to enjoy set building with. Another idea would be a set of inexpensive MS 63-65 Morgan Dollars consisting of one from each mint that made them (CC, D, S, O, philly).

Buzzybest

There is only one correct answer here.......Morgan VAMS!