Bought my first Morgan's tonight...give me your honest input please

ModCrewman · October 4, 2011 12:55PM

At coin club this evening an older member of the club offered his early Morgan collection for sale. I don't really do Morgans but he was offering them to club members at $5 over the offer from our local B&M who is well respected by all. This was all done with the dealer's permission and foreknowledge, so no hard feelings on that deal. I picked up the following three coins with no real rhyme or reason other than I liked them and thought they were "can't miss" opportunities to buy.

BUT...I know little to nothing about the series other than what I've picked up admiring coins here...so HIT me with your opinions on these please (Insert fish slapping smiley here). Grade opinoins would be welcome:

1884-O

1880-S

1881-S

Cam40 · October 4, 2011 1:00PM

63
60
62
thanks for the giveaway chance...

TPRC · October 4, 2011 1:08PM

63
62
63

coinkid855 · October 4, 2011 1:11PM

63
61
63

-Paul

Myqqy · October 4, 2011 1:21PM

You are talking just grades, and not value for what you paid for them?

LanceNewmanOCC · October 4, 2011 1:21PM

.
.
nice starter group of morgans

superb images

i would like to own that 81-s and 80-s

nice pick-up
.
.

Myqqy · October 4, 2011 1:24PM

64
62
62
The 80-S looks prooflike, while the 84-O looks semi PL- I like the look of the 84-O in general...

coinbuf · October 4, 2011 1:33PM

Well you said honest so here goes, the only one I would have even looked at is the 84-O. And as all three are very common coins if you paid more than melt you overpaid; thats my honest opinion. Now if you paid less than spot then you done good.

ModCrewman · October 4, 2011 1:34PM

About what I had figured for grades, I paid $180 for the group.

Meltdown · October 4, 2011 1:44PM

<< About what I had figured for grades, I paid $180 for the group. >>

Sorry to say that is a little too steep. The other grade guesses seem pretty accurate to me, so with that in mind, $40 per coin would be about all I would care to pay. All 3 dates are very common in that condition.

On a side note, 80-S & 81-S are my favorite morgan years for flash, eye appeal and affordability.
Great photos!

relicsncoins · October 4, 2011 1:50PM

63
61PL
62

Based on the photos, they look like average uncirculated coins whos price will be tied mainly to the price of silver.

philographer · October 4, 2011 1:52PM

62
61 or 60
62

HighRelief · October 4, 2011 3:04PM

84-O MS62
80-S MS60 PL
81-S MS62 with bonus color

astrorat · October 4, 2011 5:25PM

<< About what I had figured for grades, I paid $180 for the group. >>

Somehow I doubt that a local B&M offered $165 for the lot ($5 less per coin). Since this was your first entry into Morgan dollars, I urge you do to some research before you buy more. I would have been thrilled to sell the lot for $180 ... thrilled. If you like the coins then that is all that really matters, but do yourself a favor and learn about new venues in collecting before you spend your money.

fivecents · October 4, 2011 10:02PM

62
60
62

ModCrewman · October 4, 2011 11:00PM

So the average grades assigned so far are:

1884-0 = 62.7
1880-S = 61.0 - I believe this one would qualify as PL
1881-S = 62.25

To clarify an observation above. The initial offer was for $5 above dealer offer, with a pseudo auction between interested parties for anything more than one person was interested in, I paid $75 for the 1881-S because I liked the color...that was as high as I was willing to go, and really thought I was going to be outbid on that one. The dealer's offer for the 3 was $140, offering $50 for the 1884-0 and $45 for the other two.

The marks on the cheek of the 1884-0 are much less visible in hand and it is a generally pleasing example IMHO. I'd agree on overpaying...got a little caught up paying for the color on the 1881-S...but it was really the one with the most color out of the group offered, and that was my "goal" for the evening to find one with some nice color...overpaying wasn't necessarily part of the plan.

I'm a big boy and can learn from my mistakes, overall I probably overspent by $40-60, and although I'm not happy about it...I can live with it. Thanks for the honest input for which I had asked.

johnsim03 · October 4, 2011 11:19PM

<< So the average grades assigned so far are:

1884-0 = 62.7
1880-S = 61.0 - I believe this one would qualify as PL
1881-S = 62.25

To clarify an observation above. The initial offer was for $5 above dealer offer, with a pseudo auction between interested parties for anything more than one person was interested in, I paid $75 for the 1881-S because I liked the color...that was as high as I was willing to go, and really thought I was going to be outbid on that one. The dealer's offer for the 3 was $140, offering $50 for the 1884-0 and $45 for the other two.

The marks on the cheek of the 1884-0 are much less visible in hand and it is a generally pleasing example IMHO. I'd agree on overpaying...got a little caught up paying for the color on the 1881-S...but it was really the one with the most color out of the group offered, and that was my "goal" for the evening to find one with some nice color...overpaying wasn't necessarily part of the plan.

I'm a big boy and can learn from my mistakes, overall I probably overspent by $40-60, and although I'm not happy about it...I can live with it. Thanks for the honest input for which I had asked. >>

Thanks for the neat thread. I hope you don't mind me saying that it is refreshing, your attitude I mean here, and I appreciate it!
John

RichR · October 4, 2011 11:43PM

It's like a disease...now you'll have to buy 100 more Morgans!!!

Meanwhile, I'm actually attempting to photograph my own hoard assembled over 30 years...and there are coins in there that I forgot I bought!

RadioContestKing · October 4, 2011 11:47PM

First your pictures are really getting good need to send you a few of mine. You did much better than my first experience with morgans bought my only 2 off an auction site 1890 s and a 1890 paid 60 and 70 for both, sent them in to our host with some from mom and dads collection, and those two came back in bodybags cleaned. It was my first lesson and I still have both of them to remind me. If silver heads back up to the 50 dollar mark you will be okay and like you said its about the learning. Thanks for sharing the story and the pictures Enjoy

messydesk · October 4, 2011 11:58PM

63
61PL
63

At $60 per coin, you could have done better, but I guess you could have done worse, as well.

kryptonitecomics · October 5, 2011 12:03AM

<< 63
61
63

-Paul >>

+1

Raw I would put the value of the group at around $160 so you didn't over pay by much and if your happy wioth the coins that's all that matters

TwoSides2aCoin · October 5, 2011 12:11AM

That's a great way to promote coins. The dealer might miss out on sales, but the club got fairly priced coins and it keeps them from falling asleep.

Oh, you wanted my honest opinion on the coins ?

joebb21 · October 5, 2011 1:02AM

I like the 84 and 80
eh so you overpaid a little.

enjoy the coins. thats what is most important

al410 · October 5, 2011 1:04AM

I really like your Morgans and know you will enjoy them, as for a comment one person made about getting them for "melt" well that is not possible and I assume they were joking or they don't know the mkt, even the most common dates in that condition do not sell for melt.
AL

Quartergoldeagle · October 5, 2011 1:10AM

I love the 1880 PL for sure , good buy for $60

not my series either but nice starter coins ...

gary -

Justacommeman · October 5, 2011 1:23AM

<< I like the 84 and 80
eh so you overpaid a little.

enjoy the coins. thats what is most important >>

This.

ModCrewman, I like your style. MJ

TRADECOIN · October 5, 2011 1:25AM

Is the 1880-s s/s Vam ??

IrishMikey · October 5, 2011 1:57AM

Before anyone decides to call any of your coins AU, can I just say that you picked out
three really nice coins? My grades would be:

63+ to 64
62 PL
64

I think you need a mask to buy dollars like these for melt.

dac076 · October 5, 2011 2:24AM

Nice coins. I don't think you should have any regrets about the purchase price. Overall I think you did well.

ModCrewman · October 5, 2011 3:04AM

Smaller photos are perhaps a little kinder for evaluation of the overall look.

I knew I was in for a mixed bag of opinions after I took the photos. I'm perhaps most disappointed in the 1880-S, it's a bit baggier than I initially thought.

2manycoins2fewfunds · October 5, 2011 4:55AM

63
61
62+

Bought my first Morgan's tonight...give me your honest input please

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