Best $500 Morgan?

968FireHawk · August 7, 2005 9:28AM

I am fairly new to collecting. Mostly a type collector. It seems Morgans have been "hot" for a while (well before I started tracking the market 9 months ago) so I have been hesitant to jump in too deep, only to find I have got in at the peak of the market.

Debates about timing the Morgan market aside, what would be the best $500 Morgan I could buy?

I'd like to have a respectible representative example. PL or DMPL? CC? Best date for the $$ that wont go down in value (w/in reason, I know none of us have cystal balls)?

Net/Net: if you were going to spend $500 on one Morgan to hold on to, what would it be?

Thanks!!!

ziggy29 · August 7, 2005 9:51AM

>> I'd like to have a respectible representative example. PL or DMPL? CC? Best date for the $$ that wont go down in value (w/in reason, I know none of us have cystal balls)? <<

Well, are you looking at any specific range of conditions? I'd go for a better-date coin that has a lot of demand because scarcity for the year minted overall (if not the date/mint combo). These will always have high demand pressures and, IMO, are less likely to go way down in value if the market tanks. I like them in grades where, if you go just a little higher, the value skyrockets.

If you're not specifically looking for mint state coins, I might suggest an EF 1895-S or maybe an AU-58 1894-O. The reason being that these are tougher in most grades, and everyone who collects Morgans as a series is at *least* putting a date set together, so there is a lot of demand for these dates, and this is about where a lot of people who have most of their Morgans in AU-58 to MS-65 condition have to try to get these coins, in about these conditions, in order to get these dates.

By the same token, maybe even an EF-45 (or above average EF-40) '92-S can be found for close to that price (maybe a little higher), and given that a full AU is 3-4 times its value, a nice alternative. As might be an AU 1901-P.

[Edit to add: But don't just jump into it if you are fairly new to it. Take a little of that $500 and buy some books to give you more knowledge about collecting Morgans.]

morgannut2 · August 7, 2005 10:05AM

I'd add try to get a PCGS graded example that's not shiny white--or if you just must have white, get a common date GSA graded by NGC as MS65.

BAJJERFAN · August 7, 2005 10:14AM

A nice 1889-o in ms 64 or a 1891 in ms 64 both in pcgs holders might be good buys for a Morgan in the $500 range..

nwcs · August 7, 2005 11:07AM

For $500 I would find the best cameo PL or DMPL morgan I could find.

librtyhead · August 7, 2005 11:45AM

1899

numonebuyer · August 7, 2005 12:33PM

It is hard to argue with Bajjerfan. The 1889-O in MS-64 is a great coin with few higher grades and the populations in higher grades are low.

BAJJERFAN · August 10, 2005 10:56AM

Here is a good example of a nice $500 Morgan snagged by a friend of mine

1891 PCGS ms64

777 · August 10, 2005 11:00AM

I would use the $500 and purchase a 1885cc GSA dollar with black box and coa card, a better dated gsa for the price and way undervalued at the time

Myqqy · August 10, 2005 1:19PM

If I was going to have just one quality morgan, I would probably look for a very nice PL carson city...........

michael · August 10, 2005 2:28PM

super slider au-63 semi prooflike or frosty with no reverse die polish 1894-s morgan

rare.................................

anablep · August 10, 2005 10:51PM

The 1899, 1889-O or 1885-CC examples offered in previous posts by members here sound like very reasonable choices.

Take your time however and be picky. Don't just jump into this purchase. Good luck.

CarlWohlforth · August 10, 2005 11:25PM

I like type coins. I also like proofs. $500 won't buy a proof Morgan I like so that is out.

As a type collector I want the best looking example I can afford regardless of date. Since I like the proof look I would try to find a common date (1881-S or like that) Morgan in PCGS MS 65+ PL. It would have super frosty devices and a bit of rim toning with untoned centers.

NumisMagician · August 10, 2005 11:46PM

Heavy cameo 1879-S MS66PL

mirabela · August 11, 2005 12:43AM

The 1899 is overrated IMO. Not as scarce as official mintage figures would suggest, and rumors of a big big hoard somewhere.

Prices on DMPL 83 & 84 CC's have dropped some recently. You could probably get a really nice cameo in 64 with $500.

A previous suggestion had to do with the 94-O. A true slider 58 with few marks & good luster is not a common thing. Insist on a fully struck one with sharp breast feathers, and it becomes rare. Should you find one at all, $500 just might get you there.

morgannut2 · August 11, 2005 1:20AM

Bajjerfan and other sophisticated collectors are listing Morgans that are very, very hard to find nice and haven't run up. In fact it's a virtual list of one's I'm looking to upgrade!! If you want to double your money in 5-8 years (or less) pick one. If you just want a pretty original example for a type set I'd still say 82-84CC in GSA Holder (so you know it's original) and I'd look for an NGC graded GSA MS65 that's prooflike w/o the DMPL premium. The reason is there are a ton at auction and prices are off by 10% or more. Don't look to make money on it however--

DennisH · August 11, 2005 1:24AM

A 1904-S in AU, or a 1903-S in XF45 if you can find one for $500.

morgannut2 · August 11, 2005 1:32AM

To everyone's list BTW, I'd add the 1893O if you can find one in VF35 that has some luster left hidden under a lot of dark original toning--It's just a very tough coin and even up to MS-63 ($6,000+) they are really banged up and ugly most of the time. A lot of people need the date. Same goes for the lower grade 1895O and 1895S--but those don't last long at dealers, plus they are often messed with and unoriginal.

NumisMagician · August 11, 2005 6:47AM

Here's a nice CC dollar, (if I got the image setup right, if not, I apologize for the noobie-error,) probably somewhere in that $500 range, (knowing ebay.) It was one of about a half-dozen 82-CC PCGS MS65's in a dealer's inventory, and none of the others even came close to the 'eye-appeal' of this one.

IMO, it's a mistake to focus strictly on a given date & specific grade, due to the broad spectrum of quality found in any given grade-level. Spending time patiently looking for a 'top-notch' example for the grade is well worth the wait I feel.

DennisH · August 11, 2005 6:57AM

Sorry, but with the massive left field scrape, that's not my idea of a 65... even if it is a CC.

mgoodm3 · August 11, 2005 7:04AM

How about this one for a 65?

NumisMagician · August 11, 2005 7:55AM

I always have trouble with the large pics, ('forest for the trees' sort of thing,) but it looks very 'clean' with only very light marks and a snappy look, aided by that nice strike.

Mine has several interesting features that I've not seen on this date before, but I couldn't find it in my old VAM book. (I always hate to sell a coin I can't fully ID!)

BAJJERFAN · August 11, 2005 12:30PM

Here is a decent 82-CC ms65 green label.

ConstellatioCollector · August 11, 2005 1:43PM

Morgans have been very popular to collectors for many years. Here is an MS65 GSA.

BAJJERFAN · August 11, 2005 9:48PM

Add another hundred bux or so and you could get either one of these in ms64. Probly the 2 best choices.

dorkkarl · August 11, 2005 9:57PM

1884-s in a high au grade.

K S

BAJJERFAN · August 11, 2005 10:51PM

<< <i>1884-s in a high au grade. >>

that would get a 53/55 58's are gettin right up there well over a grand for nice ones

968FireHawk · August 13, 2005 5:10AM

Fantastic advice guys! Many thanks. I'll be researching these and compiling a list. Very much appreciated.

Paul

Best $500 Morgan?

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