Forks in the road, GSAs or Old Holders?

DelawareDoons · January 24, 2023 9:21PM

For several years now, I've opportunistically put aside nice CC GSAs with the goal of eventually completing a set. At this juncture I have the 78, 82, 83, 84, 85 and 90.

Recently, an opportunity arose to acquire an 1879-CC in NGC 63 for $8500. I am presently in a temporary but very privileged position to actually seriously consider this acquisition. In my mind, this isn't a question as to if I want to buy it for $8,500, but if I want to complete the GSA set. I figure the remainder of the coins I want in the grades I want will cost me around $7,000 in addition to the funds spent on the 1879-CC.

All in, the complete set would represent a total commitment of $25,000. For that, I can get a set of CC GSA's that will sit just outside of the top 20 in NGC's registry with no hope of ever realistically breaking into the top ten...

Or I can dump my existing set and duplicates for about $12,000, stick the $8,500 back in my pocket, and focus on my more recent passion project, the right type coins in the right old holders, primarily NGC 3.0 and 4.0, with a side of PCGS Rattlers.

Decisions, decisions... What would you do if you were in my shoes?

humanssuck · January 24, 2023 9:31PM

Why choose? Do both. Keep the coins, sell a kidney if you need the money.

DelawareDoons · January 24, 2023 9:40PM

@humanssuck said:
Why choose? Do both. Keep the coins, sell a kidney if you need the money.

My resources are finite.

humanssuck · January 24, 2023 9:49PM

@DelawareDoons said:

@humanssuck said:
Why choose? Do both. Keep the coins, sell a kidney if you need the money.

My resources are finite.

You can have a budget and still do both. It just takes longer, and arguably can lead to better decision making when you have to choose where to allocate resources.

lilolme · January 24, 2023 10:03PM

Interesting coincidence. I was just working on finishing up a thread where I mention not completing this particular CC set due to getting distracted into doing other collecting agendas (one of which was another different CC set). However, today I prefer the set that I got distracted to. So sometimes distractions are a good thing. With that I say go with the one that you feel you want to do more.

spyglassdesign · January 24, 2023 10:05PM

Sounds like your more recent project is more valuable to you, as you call it your 'passion'... I'd say go for whatever is floating your boat. If the cc is a pride thing of being able to do it, maybe do that, then sell and focus on your new set. If the cc thing was more of a fling and you won't be too disappointed to have not completed it, then sell and go for gold on your new project.

Thats how I'd look at it.

FlyingAl · January 24, 2023 10:23PM

Honestly, that's up to you. Both sound like great ideas to me.

But please, please post some pictures of these coins.

SurfinxHI · January 24, 2023 10:46PM

Which one is going to be harder to do in 10 years?

My guess is you should try the older stuff now, as the GSAs will be around later.

Surf

jacrispies · January 24, 2023 10:54PM

Good advice above. Go with your passion. Why waste time with coins that you aren't thrilled to own? A complete GSA set would be pretty cool though, I am not discrediting that idea.

Surf has a good perspective about future availability. Buy what will be harder to find because you may not have the same opportunity.

All in all, it is up to you and there is no right answer.

gumby1234 · January 25, 2023 4:09AM

You seem to like the older slabs a lot more than the GSA. If that's the case you have your answer.

DelawareDoons · January 25, 2023 6:08AM

I was talking to another friend about this conundrum and he said "I feel like CC Morgan sets are for guys who played cowboys and indians growing up and watched leave it to beaver." Oof lol.

@humanssuck said:

@DelawareDoons said:

@humanssuck said:
Why choose? Do both. Keep the coins, sell a kidney if you need the money.

My resources are finite.

You can have a budget and still do both. It just takes longer, and arguably can lead to better decision making when you have to choose where to allocate resources.

I should add these aren't the only sets I'm working on. I have a box of 20 PCGS OGH project in progress, I have toned Morgans, I have a Morgan year set, I have many almost complete danscos... Candidly, it's time for something to get dropped. GSA's feel like the most linear, limited and boring of the mini-collections I have going right now, and I bought them all MUCH cheaper than what I could get for them now, as I graded most myself. The other Morgans aren't too far from the chopping block either, I might just keep a few highlights and dump the rest.

@FlyingAl said:
Honestly, that's up to you. Both sound like great ideas to me.

But please, please post some pictures of these coins.

It's still a major work in progress, but http://www.oldholders.com redirects to a page on my website where I'm slowly adding my old holder type stuff, and will add other stuff as time goes on and I have the time/energy/motivation to get them up.

My newest purchase is already on there but I'll share it here too.

And here's what it replaced.

ricko · January 25, 2023 6:31AM

Based on your most recent post, it seems as if you have made a decision. Good... There is no wrong decision here, you are deciding on what personally will interest you now. Go for it..... Cheers, RickO

Catbert · January 25, 2023 7:05AM

Dump the GSAs.

1madman · January 25, 2023 7:25AM

“I was talking to another friend about this conundrum and he said "I feel like CC Morgan sets are for guys who played cowboys and indians growing up and watched leave it to beaver." Oof lol.“

So your friend thinks that once these 70-80 year old guys pass away in the next couple years, demand for cc Morgan’s will drop (and potentially a flood of coins in their collections will hit the market)?

pointfivezero · January 25, 2023 11:31AM

Hey DD. Interesting dilemma so I'll share my similar experience. I chased a Morgan Carson City set in a big way for a couple of years. I think I reached #11 or #12 on the NGC set registry. I enjoyed every minute of the quest but then reached a similar fork in the road. There was no chance of attaining a Top 10 set due to financial limitations so the thrill was gone. As you know from our PM's, I moved on to the old holder and OOB holder search.

I've never looked back.....

Tim

keyman64 · January 25, 2023 11:38AM

There's of course the wild and crazy idea of buying the coins you like, regardless of the holders.

DelawareDoons · January 25, 2023 3:28PM

And a quick little gif of it while I'm showing it off.

@1madman said:
“I was talking to another friend about this conundrum and he said "I feel like CC Morgan sets are for guys who played cowboys and indians growing up and watched leave it to beaver." Oof lol.“

So your friend thinks that once these 70-80 year old guys pass away in the next couple years, demand for cc Morgan’s will drop (and potentially a flood of coins in their collections will hit the market)?

Not necessarily. Just more indicative of his thoughts on demand for GSA's over the next 20 years or so.

I do think this is probably the best time to sell a set of CC GSA's, all things considered.

@keyman64 said:
There's of course the wild and crazy idea of buying the coins you like, regardless of the holders.

Too easy, honestly. I like lots of coins.

coinbuf · January 25, 2023 4:17PM

While you did not exactly say so, the inability to crack the top 10 in the NGC registry seems to be a goal and one of the reasons to chase the set. As you feel that goal is unlikely to be attained then it makes sense to sell and move on to the other sets you have in progress. No doubt many collectors have reached a similar point at some time in their lives. I too love to chase old holders, sadly the "promotion" of these holders has made being able to afford many of them difficult.

Walkerfan · January 25, 2023 5:26PM

I would continue with the Morgan CCs.

Take it as far as you can go and THEN move on.

Connecticoin · January 26, 2023 6:09AM

If it were me, I would dump the GSAs and pursue the NGC fattys, which appears to be where you are leaning. Personally for me, Morgans in less than a nice 64 are not very satisfying to own, regardless of rarity.

Forks in the road, GSAs or Old Holders?

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