Help a newbie....looking to continue a legacy
Hi all,
Coin collecting newbie here. I am a long time member on the sports card side of CU with several sets on the registry. However, coins are completely new to me.
I am doing this mainly to give my Dad and myself something to enjoy in his twilight of life. He has been a coin collector since the early 60s. I never took up the hobby. He is now retired, 75 years old and his body is starting to turn on him. I thought I would start collecting something he and myself could have conversations about. I bought 2 Morgan's off of Ebay, took them over to him to look at and his eyes lit up like a kid at Christmas. He went down to his basement where he keeps his coin stuff, grabbed a blue book and a red book (I have no idea what they are) and started looking up the dates, what he thought they would grade, how many were made, etc., etc......I know how much of a rabbit hole you can run down with collecting stuff, so I have decided that I will just focus on these silver dollar coins. They seem to be plentiful, are nice looking and have enough variation to enjoy collecting. With that being said.....I am looking for some direction on what would be the best route to go, what to look for, what is a decent price to pay and best place to find stuff. I know there are literally hundreds of on-line publications, but I like the community here at CU and feel collectors, that have no vested interest in click traffic, are a better resource for honest information. And from my experience on the PSA side of the pond, there knowledge base here is vast and, usually, friendly and helpful.
So with that.....any Morgan collectors out there that can help a brother out?
Comments
They are one of the most widely available US coins, and certainly from the 19th century.
Based on your questions, it would be best to buy coins certified by a major third party grader. (PCGS or NGC). MS63 and 64 common dates are going to run somewhere in the $40-$60 range and are available in any quantity you want. Most raw coins in this grade range are not worth the additional fees to have graded unless you can pay somewhere around melt.
Since your background on sports cards has no doubt made you familiar with all of the doctoring and "improvement" that can be performed on cards to fleece the unaware, keep in mind that the same goes with coins.
If your dad is willing to sit at a computer, have him join this forum as well. Work with him to learn and understand how to better identify quality, and maybe purchase certified coins and study them in hand. Purchasing accurately represented raw coins on eBay is a bit of a crap shoot.
Welcome, guys!
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
I've accumulated a few of them - like around 40 or so over the years. I have some in plastic some raw, some are pretty toners and some that are "circ-cam"- mostly I buy what I like the look of and a clean cheek is a big plus. I am trying to not buy duplicate years as of late; however I do have a few years where pretty examples abound ,1886 and '96 seem to be where I have the dupes. Have fun with them, I sure do! Edited to add: WELCOME.
Well, getting Daddy to sit at a computer is like asking him to get a root canal without novocaine. So....if I wanted to grab "raw" coins to put in one of these blue Whitman books for him, what price do I look to pay? I may grab a few slabbed coins to see if he likes those. Great idea to get some of those to study and familiarize myself with the characteristics of the grade. I do know the 2 I purchased earlier and put in one of his old folders he about had a duck when I touched the thing with my bare hands. It was pretty comical. Of course, I am the exact same way with an embossed or "chrome" sportscards because of fingerprints. Thanks for the input....every little bit helps.
I am not sure I have any worthwhile advice, but that sounds like a great project.
Excellent. Borrow the Red Book and study the photos and comments. Try to "talk coins" with your Dad by asking him questions either about specific coins he has or what it was like in the 1960s when silver coins were still available in circulation. Keep the sessions fairly short - as much for you to avoid being overwhelmed, as for your Dad to have something to look forward to and keep him engaged.
The greater your positive interactions, the better will be his emotional and physical well being.
Also, I don't presume to know your budget but there are several dealers here on the forum who would likely be able to throw a roll of circulated Morgans together and ship them to you.
Your Dad would lose it
Welcome! There are a few Morgan dollar experts here so ask questions.
I would recommend finding a Local Coin Shop and get to know the owner. My LCS are both very knowledgeable, honest and willing to take the time to answer questions. Buying coins here would be similar. Unfortunately you can't look at a wide variety of coins, in your hand, online.
Buying raw coins on ebay is very risky for a newer collector to say the least.
Other sites retail are worse. The amount of counterfeits is sickening.
TPG's are the easiest way to protect against counterfeits, especially until one can gain some experience.
Ask your dad what HE thinks would be the best coins (Morgans) to collect or how to collect them. I think being able to give his opinion to you will mean as much as the coins. I am glad I had the chance to enjoy coins with my dad as a child, then again when I was an adult and he didn't have much to offer besides his knowledge and opinion.
It's nice to hear you are making the most of the opportunity of sharing time together. I sure am glad I did. It's about the time spent, not the money. You always can make the money back.....................
http://www.silverstocker.com
Anyone can PM me Any Time about Any thing.
What a wonderful family story and you are definitely a good son to think about your DAD that way
There are a few Morgan collectors as well as experts here who would be more then happy to advise you.
Have fun in US coin forum and send my warmest regards to your Dad
Update so far.....I have purchased roughly 20 so far. 12 ungraded and 8 graded. Only common dates, from what I can tell. 2 things I have learned so far.....there is definitely no shortage for most of them and not that pricey, ungraded. The other thing, my dad is a VERY discerning collector. The ungraded ones we have gotten in, which are advertised mostly in some degree of MS, my dad sees and gives the VG/XF grades. Regardless of details present, if it has a scratch, of any kind, he is hyper critical. It is kinda funny. Even the couple of graded he has seen, he doesn't agree with the assessment. I was surprised, almost. Secondly, his knowledge base in this hobby is unbelievable. I had no idea. I guess I never really took the time. And he studies these things with an ENORMOUS magnifying glass. I didn't know they existed in such a size. I look at my cards with a jeweler's loupe. It pales in comparison. So, to all that have helped, thank you. It has been quite a week and has brought a bit of joy and excitement to Daddy I haven't seen in quite some time.
@Greedoguy.... Welcome aboard.... This is a great thing you are doing... both for your Dad and for you...Making memories is important... and, you will learn some things along the way. Good idea to get both raw and slabbed coins... the raw are less expensive and fun to study... the slabbed coins can be used to compare the grades to raw coins too...Good luck and keep us posted on how the hobby progresses. Cheers, RickO
Want to really go down a rabbit hole? Go to VAMWorld.com. learn all about Morgans and die varieties. 😉 Nice that you are doing this to connect with your Dad.
Another idea is to put together a 1944 type set (assuming this is his birth year).
I think it is great what you are doing and I wish my Dad was still alive to do the same. Bravo to you!
I actually bought him a set of his birth year some 10 years or so ago. He still has it. He has now pulled out his coins from their storage and has them sitting on his downstairs bar. There are literally 1000s of coins there. He has an entire gallon jug full of indian head cents. Same for buffalo nickels. I was, and am still, dumbfounded. I thought my card collection was over the top. I now see where the genetic propensity to collect stuff comes from.
1 month update. We now have approx 60 Morgans. 21 raw and 39 in MS63 or better. Daddy is really digging it. I have now started having the coins shipped to his PO box. He now drives to the post office every day to get the shipments. I don't get to visit everyday, but when I do get over there, he has them laid out with his others. He has actually ordered himself and I a coin from the U.S Mint from this year. Mom says he hasn't bought any coins in years.
@Greedoguy
Sounds like your dad has found his coin collecting spark again and a new found drive for the hobby and life. This is great!
Looking forward to any future updates.
Sounds like dad knows more than you gave him credit for. Best wishes, you sound like a good son.
Great story
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb
Bad transactions with : nobody to date
Hobbies are fun, but a lot more fun when we can share with someone. After all, isn't that why some of us participate in this forum?
bob
That is so awesome!!!
It is very important for those we love (or anyone for that matter) to have something to do, something to look forward to, something they can share and connect with those they care about.
That's the way to do it.
We all should make the most of every moment and every opportunity we have, every single day.
http://www.silverstocker.com
Anyone can PM me Any Time about Any thing.
Been 2 months now. Our Morgan $ collection has slowed considerably. 43 slabbed and 30 raw. The cost of the remaining slabbed increase exponentially once we got out of the common dates. Daddy and I are taking our 1st trip to a local coin dealer this weekend. Not sure what he is even looking for, but him wanting to go is pretty big, as he normally wants to just stay close to his house. I am wondering if it is worth getting some of his coins submitted for grading. He has mint sets from a long way back. Not sure if taking them out of the plastic is the best idea though. Thoughts?
VAMworld is perfect for detail-oriented collectors. Get him there. He will quickly lose any hesitation about computers.
We do shows all over the country and we are big into Morgans. You are welcome to come talk to us at any of these shows. I suggest you and your father (if he is able) find some shows you can go to. He will love that!
@Greedoguy
Sounds like fun with your dad, coin shop and... recommend your dad make list.
Make three columns.
Wants, needs, and moon money.
Or, just make a list and put the coins order.
Or, just make a list. The visit to the coin shop should be fun and hopefully stress-free.
What are the dates of the mint sets?
@Greedoguy
If your Dad is into reading, perhaps you could buy him a book or two? I'd suggest books by Q. David Bowers. He has a lot of books dealing with particular coin series (eg, Morgan dollars) but I was thinking maybe a bit more general to help your Dad remember what collecting was like when he first started (which is probably about the time I first started). Amazon has Coins and Collectors ($24.52), Adventures with Rare Coins ($3.50!), and Abe Kossoff: Dean of Numismatics ($20.00). If your Dad likes reading, he may well enjoy any (or all) of these books. Bowers is a smooth writer and these books are especially good because he wrote them before he became so prolific that I think his writing went down hill a tad.
Perfect point, Bob.
Pete
Have you & your Dad gone thru the jugs of IHC's & Buffalo's yet? What I'd give to have that opportunity! Congrats on enjoying this hobby with your Dad!
Ha...I wish I had a picture. He has Maxwell House coffee jugs full of both of those.
I would avoid raw Morgans on ebay. Buy them graded.
The decline from democracy to tyranny is both a natural and inevitable one.
Morgans are a great series to collect. Each contains 0.774 oz of silver, most dates are readily available, and there are a few rarities to keep things interesting. These are counterfeited, but usually only when there is sufficient motive to justify it (high grades, rare issues).
As others have said, many have been improperly cleaned which kills the numismatic value but not the bullion value. They’re not hard to find already certified in slabs and that eliminates most of those concerns. Stick to PCGS, NGC, and maybe ANACS or IGC and you’ll be OK.
Welcome, but be careful. As you become more immersed you might get hooked.
Oops. Edited to add: I didn’t notice this was an older thread. After going through it more carefully it sounds like a great project. As with all series there are easy parts and more difficult part. Picking up the easy dates at a rapid pace is fun, but focusing in on a few key dates and hunting for that perfect coin at a certain grade & price point can also be fun.
Whatever you do, keep enjoying it.
Great post from the original poster. I wish I had taken up coin collecting with my dad before he died. tears
He had an old box of coins...this was long before slabs existed, and loved looking through them.
I suggest you buy the new "mega" red book...I bet he has one of the old hardcover books. And go to a coin show....at least a state show, not a super local small show. You can join a club together and visit this forum.
Your father is fortunate to have you as a son....sounds like he did a great job of parenting.
Quick update....we have accumulated roughly 100 morgans....about 50/50 on the graded and ungraded. We have visited two shops...one in Nashville and one in Clarksville. Both were super nice and very helpful. I have become fond of the shops vs Ebay just for the peace of mind that what you are buying is real. That, and, if you flash cash...you can get a whale of a deal. I have moved into buying silver bullion now, mostly as a diversification of my sports card hoard. I sold off a couple thousand $s in cards and replaced it with Silver Eagles. Good, bad or indifferent, I feel as though I have a truly tangible asset. Again, thanks for the encouragement and all of the help.
Thanks for the update @Greedoguy
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb
Bad transactions with : nobody to date
Your timing may turn out to be perfect.
To me it sounds like getting raw (not in the plastic) Morgans might be the way to go. Morgans are so totally plentiful that you can buy beautiful coins in the $30-$40 range. Best part is you get to hold those big chunks of silver in your hand, heft them around and really enjoy them.
Your pops must be thrilled. He gets to go find a little treasure every so often at the P.O.
Morgans are the backbone of US numismatics.
Wow, this is a great story and I missed it before. I wish I had the opportunity to do with my dad what you are doing with yours. It sounds like you are a terrific son and will give him many great years of memories to come. Having something to look forward to daily will make him feel like a kid again regardless of his age.
Morgan's raw and graded was definitely a great way to collect. It will help you learn as you go.
Great progress so far.
Happy collecting. Donato
Donato's Complete US Type Set ---- Donato's Dansco 7070 Modified Type Set ---- Donato's Basic U.S. Coin Design Set
Successful transactions: Shrub68 (Jim), MWallace (Mike)
Haven’t updated in a while, mostly because we are down to the last 20 or so Morgan’s (no VAMs) dates/mint marks. Most of the CCs and then 93 through 95, a couple in the 1900s. Went from a sprint to a marathon walking on your hands. I acquired some 90% and gave Daddy the coins he wanted. Mostly the old halves and quarters (pre 1850) that he grabbed. Tickled him and he still goes to the PO Box daily, like a ritual.
An old thread but if you haven't chosen a direction yet how about a Mint Mark Type Set?
P - D - S - O -CC Mint Marks slabbed at any grade that fits your budget and you can make a Registry Set with them.
Welcome, Morgan’s are awesome.
This reminds me I need to get more Morgan dollars 👍
Titan up!
So many great Morgans to choose from.
BHNC #248 … 108 and counting.
What a tremendously cool tread. I lost my Dad in November but this made me smile. Hold on to him for dear life
m
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
My father and I enjoyed the hobby together and now I enjoy it with my son and grandson. You’ve already got some very good advice here. So all I’ll add is to take it slow and you might want to stick to graded coins until you get some grading skills under your belt. I would also suggest purchasing an ANA grading standards book. It has tremendous information that’ll help you along.
I miss my dad everyday.
I like what you’re doing👍