Not your usual pawn shop purchase
USMarine6
Posts: 1,951 ✭✭✭✭✭
I'm lucky enough to have first shot at a lot of coins at a few local pawn shops. I was offered this at a great price and snagged it up. The grades on the stickers are pretty accurate with about a half dozen undergraded by a point and a few over graded. Let me know what you think.
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Comments
how much did you pay?
Wow, some great toning on a few there! Shame that someone sold that to a pawn shop and most likely lost a lot of money in the process.
Nice pick up!
Oh that elusive 1895.
I see a big slabbing bill in your future. I hope you didn't overpay.
Let's just say less than 2k
Time will tell if you got a good deal or not...I hope you did.
Several of the toners look nice and most likely look better in hand.
Did you have time to examine the coins for slide marks?
How did you figure the 93o 94o....they look harshly cleaned....
It reads on the sticker 93O but it is a 93P. Yes I did figure them as cleaned and yes the pics aren't the greatest
Good luck with the deal.
If it makes you feel good, it was a great deal. Otherwise what we think does not matter. I like a few of the coins and some have problems. My Advice for "just under $2,000" would have been to buy a slabbed key-date, or a conditional rarity and skip the album of "treasure."
Coins look nice in your photos, and I hope you got a great deal. Buying raw deals like can really test a persons grading skills, Just a little rub, an old cleaning, or a few slide marks can turn a great deal into a not so great one. I really do hope the coins are as nice as they look in the photos, and that it was a great buy. Keep us informed. Thanks.
Interesting lot.... I would not buy a lot of Morgans such as this... not at this point in my collecting career.... Perhaps thirty years ago... and they would have been cheaper then
... Hard to judge from the pictures, but there could be a couple of winners in there that make it worthwhile in terms of cash...If you are happy and it helps your collection, then that is what matters. Cheers, RickO
So without the exact amount, I'll guess $1800. That's $58 per coin.
-If the 93-O, 94-O, and 83-CC grade, they are worth about $700, but you have to minus the grading fees of about $75. (Conservative, but assuming you send a bunch in at once, economy)
-This now leaves 28 coins at $42 per coin. Add the average of $25 per coin grading (Conservative) and the remainder of your coins cost you $67 each graded. You can buy already graded common date PCGS MS64 coins on ebay for less per coin. Some of the coins above are no where near 64 quality. Buy them with eBay bucks promo and they are 5 bucks cheaper yet.
Now if you paid way less that $1800, you might be OK, if not, you are buried. I will root for you though and hope some are much better than they appear!
In my many years of collecting, large raw deals from pawn shops don't usually work out as well as the buyer had planned. Not trying to be a downer here, just offering my opinion based on pictures.
Did you check the 1900-O for O/CC?
Did you get the Ford in the deal, too?
why is everyone so fixated on what the OP paid and why would you even ask? he probably should have told you "Mind your own business" but then he'd get the pariah treatment.
Nice coins!
So for those of you keeping score and care about the purchase price here is the breakdown. I traded some 90% towards the deal and made a few bucks so the total price into the set was $1650.
I haven't decided exactly what I'll be doing with the set as of yet. I don't think sending it all in is the way to go. Maybe I'll cherry pick some of the gems and see where it goes.
The pictures obviously aren't the greatest but the purpose of the thread wasent to guess the grade of every coin. What the current pictures don't show is how nice some of the coins are. The 99o for example is a 65 IMO with a shot 66. The obverse of the cc has a nice purplish tonight that is really nice.
So am I buried in the set? Maybe but not in my opinion. I guess it's certainly possible though. Thanks everyone for the input.
You did good!
most of the pawn shops I've been to, the premium coins sell for retail or above. scrap silver and gold can be picked up for around melt
I agree. Seems that everyone went full downer right off the bat with very limited info. Plus assuming that you intend to do a mass submission seems like a big reach. Looks like a fun group!
So you were not asking if we agree that you snagged a good deal? If not, what exactly are you asking when you say, "let me know what you think?"
At $1650, your average cost per raw coin is $53. If the 3 money coins grade, and a couple others go 65, you will be OK. If not, you might have paid too much. That's what I think!
...definitely a 'what if' Dansco of heavy weight coins. Cool
"Keep your malarkey filter in good operating order" -Walter Breen
Looks like a fun purchase. Buying them already slabbed takes the excitement out of it. Sometimes you have to live on the edge a little
I love albums. If that were mine I'd keep them unslabbed and improve the set over time. It's not the best choice financially but I think it's a ton of fun and very satisfying.
Congrats!
Lance.
Well I didn't give the price I paid originality so I guess I wouldn't have asking if I got a good deal or not but thanks for input and opinion
You can probably tell from my analysis that I have bought large lots also. In hindsight, some worked out and more did not. That said, I have a larger one I just bought from a retired coin dealer and I'll let you know if I was barbecued after the grading from Long Beach! I am a gambler but try and coach others not to do it!
I'd keep them in the album, why pay outrageous amounts of money to put them in a plastic slab? However if it were me I would give them all (less the 79) a dip to remove all that nasty tarnish and toning.
Pricewise I think you did well Devil Dog. Semper Fi!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
You'd be shocked at how little many pawn shops pay for nice coins. The story behind the collection must be interesting. I was at a show today and heard about a nice collection, I bought a few from, and there were a lot of other original coins in the group. Was the original owner a serious collector, how long did it take to assemble, and where did he get the coins? Those are all interesting questions. And on pricing, we all need to sharpen our market assessment skills, I am always willing to say how much I paid, unless I made a killing, in which case any nosy questions are very rude because I have a right to rip stuff from others, lol.
In this day and age, why do some people sell to pawn shops instead of just a coin shop or coin show? I would have liked to know the history of this collection
Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
I so agree with you ......... what a loss
🇺🇸 Harlequin
harlequinnumismatic@gmail.com
I like the album and I agree with what lkeigwin said.
"A dog breaks your heart only one time and that is when they pass on". Unknown
Well, THIS should teach you!
You go and buy something you like and are happy with your new coins.
And then you post the purchase.
What could you be thinking?
You start treating coins like a ....hobby...and .....well, yes. This was BOUND to happen.
I think having one of each year of Morgans is neat.
I did that too.
It's one of the sets I really regret selling.
Why not keep it as you got it and flip through the pages in an easy chair with your favorite beverage and let it carry you back to those years?
Agree