25 coins after I started ?Born on the Bayou? on August 29, 2010, I have one more coin to go.
Greetings everyone, three months ago, on a whim, I started a complete set of Morgan Dollars based on the New Orleans Mint, and now I stand within one coin of completing my set. With a strict budget of $200/coin, the last coin, the 1892-O, is proving to be quite a challenge to obtain in MS condition. Since I only get three points for an AU example, I am targeting this coin for MS-61 and 265 points. Currently, I am watching an MS-61 1892-O for sale that is a little over budget. However, since I bought the rest of this set within my budget, I would hate to break it on the last coin. What especially makes this coin so appealing is that it is rarely available for sale, and I may have to wait a long time to fill the slot. Oh well, since I have been nice and not naughty, maybe I can get it for Christmas!
As I look at my set, I am impressed with the overall quality of the coins I could obtain with nineteen of twenty-five coins in MS condition and more than half of those grading at MS-63 and 64. The 1893-O and 1895-O are the only coins in my set grading below AU. Equally impressive is that half my set comprises of rainbow-toned coins. Obtaining all the coins through either E-Bay or Teletrade, I bought half for Fair Market Value or less. Of those coins I paid more than Fair Market Value for, most of them were rainbow-toned. Looking at my set now, I could not be any happier with it.
One thing I did not anticipate when I started this collection is how much I have come to love the Morgan Dollar. Now where do I go next? I have another idea, since I love the beauty of this coin in Gem Uncirculated condition; I may start another year set of MS-65 dollars on a $200/coin budget. I know I will not be able to collect every year in this set, but I will be able to collect every mint with the exception of Denver and Carson City. Stay tuned for developments on this.
On another note, I wish everyone all the best as they make their final preparations for this year?s awards. Talking from experience, it is a thrill to have my sets recognized from among all my peers by NGC for an award. In closing, I am attaching a print of the modest and reluctant Morgan Dollar model, Anna W. Williams. Do you see the resemblance? Happy collecting!