Is this fuzzy thinking?
skier07
Posts: 4,712 ✭✭✭✭✭
I'm mostly a collector or accumlator of Morgan and Peace Dollars. When I was a kid 35 years ago I began to
buy mostly higher end silver dollars. I always had money as a kid because I worked after school and I was
an avid collector.
My collection remained mostly dormant until a few years ago. For whatever reason my interest in coin collecting
reemerged. A lot had changed since I went on sabbatical. The biggest change was of course the advent
of grading companies. I began to buy coins mostly on ebay or the big auction houses. I almost never bought
raw coins and I only buyed from the big two and sometimes ANACS. I don't have the foggiest idea where
the closest B&M coin shop is in South Orange County, Ca. I'm buying higher end coins, mostly 65's and 66's if
affordable and I'm also picking up a lot of DMPL's. These coins are within my budget and I'm only buying from
seemingly repdutable dealers on ebay who have a return policy.
I have returned a few coins but for the most part I have been relatively satisfied with my purchases. I feel
as though my coin with it being slabbed has an intrinsic value associated to it. Even if I purchase a 65
that was generously graded my coin has the intrinsic value of a 65. Morgans are a very liquid commidity so
if I ever do want to resell a $500 coin I should have no difficulty.
Does my thinking make sense? Am I unaware of a downside risk? Let me reiterate that I am trying to buy
the nicest coins I can, it's just very difficult for me to buy coins that I can actually see live. If I were to buy an
expensive coin I don't think I would want to pull the trigger without being able to see the coin first.
Comments appreciate.
Bruce
buy mostly higher end silver dollars. I always had money as a kid because I worked after school and I was
an avid collector.
My collection remained mostly dormant until a few years ago. For whatever reason my interest in coin collecting
reemerged. A lot had changed since I went on sabbatical. The biggest change was of course the advent
of grading companies. I began to buy coins mostly on ebay or the big auction houses. I almost never bought
raw coins and I only buyed from the big two and sometimes ANACS. I don't have the foggiest idea where
the closest B&M coin shop is in South Orange County, Ca. I'm buying higher end coins, mostly 65's and 66's if
affordable and I'm also picking up a lot of DMPL's. These coins are within my budget and I'm only buying from
seemingly repdutable dealers on ebay who have a return policy.
I have returned a few coins but for the most part I have been relatively satisfied with my purchases. I feel
as though my coin with it being slabbed has an intrinsic value associated to it. Even if I purchase a 65
that was generously graded my coin has the intrinsic value of a 65. Morgans are a very liquid commidity so
if I ever do want to resell a $500 coin I should have no difficulty.
Does my thinking make sense? Am I unaware of a downside risk? Let me reiterate that I am trying to buy
the nicest coins I can, it's just very difficult for me to buy coins that I can actually see live. If I were to buy an
expensive coin I don't think I would want to pull the trigger without being able to see the coin first.
Comments appreciate.
Bruce
0
Comments
There was a time when Morgans and Peace, at least most of them, were priced
higher than they are today. When silver was almost $50 an oz comes
to mind. But with high end coins I think you are right. They aren't making any
more Morgans or Peace dollars that I'm aware of. Good luck,
wecome back!
bob
We are already fuzzy.
Camelot
You seem to be enjoying it so you must have some sort of eye for it. The
fact that you've rejected some coins seems to indicate this. I even agree
that a slab imparts some intrinsic value even if the coin is a little overgraded
since there will be some buyers for it even in this state.
There is always risk. It's simply unavoidable. Products become obsolete
and collector tastes change. But if you're learning and paying attention you
can even make money selling buggy whips or silver art bars.
coin shops in North Orange County which I have never frequented.
Bruce
I could be that I'm too new on eBay... and don't yet look like a trustworhty dealer. (Feedback is 44 -- 100%)
But My Indian Head cents and Liberty nickels have done VERY well. The word 'hotcakes' comes to mind...
So, after my eBay rep comes up a few more points, I'm going to take another stab at the Morgans.
Sidenote: Could the Home Shopping Networks and other TV coin shows be hurting the Morgan market???
Since you are staying with the top TPGs, you are keeping yourself on solid ground. If the Morgan market slips for a year or two, hopegully you are able to ride out a little dip.
<< <i>Sidenote: Could the Home Shopping Networks and other TV coin shows be hurting the Morgan market??? >>
If they are then it's probably by not offerring these as much as
other venues. They do offer and sell a lot of Morgans but they
are almost invariably circ or mere BU. This might get a lot of peo-
ple started on collections but it doesn't do much for the market
now.
They offer very few scarcer or higher priced Silver dollars.
<< <i>It's a mistake to think that a slab affects intrinsic value. It's extrinsic. Otherwise, you're good to go.
That's what I was thinking too. When you go to sell, esp if to a dealer at a coin show or something, you can pretty much rest assured you will run into some who try to downtalk your coin. So, slabbed grade of MS65 or not, it may not easily sell at that level.
Now, on ebay, with good pics and a good rep, as long as the market isn't dropping, you should be ok if the coin is nice. I just wouldn't get too comfortable with a piece of paper grading the plastic slab
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
It is very difficult to judge coins at MS65 and MS66 from photos online. DMPL and PL are another ball of wax, and again difficult to see in some photos.
So I don't like the plan at all if resale value is the main thought. There is a lot of risk in terms of coin market risk. A lot of expertise is needed to pick quality coins at this level. If a person had the grading expertise and market knowledge necessary for seemless execution, they probably wouldn't be asking for advice, they'd probably go ahead.
It is tempting when you see a fuzzy pic of a better date in a PCGS holder that is selling below market value to take a gamble and try to get a bargain.
Most of the time it is not worth the effort.
I'm at this point a collector as I have never sold a coin before. I may sell some of my duplicates to help me acquire
the more expensive coins I'm in pursuit of. This is a hobby to me, I don't like pissing money away, but on the other hand I
am not motivated completely by the financial pendulum. If the market craps out it will create a better buying opportunity
for me. I'm in this for the long term. Maybe I'm wierd, my wife says I am, but derive a lot of pleasure looking at my
coins and going to sleep knowing I have a 65 Peace dollar slabbed by PCGS.
Now if I could only get my son interested. He keeps on tellling me he is going to melt down my junk.
Bruce