• When you click on links to various merchants on this site and make a purchase, this can result in this site earning a commission. Affiliate programs and affiliations include, but are not limited to, the eBay Partner Network.

Half Way There



No, I am not trying to copy a post by another Society member, it just so happens that I have reached that very important milestone in my Morgan Dollar collection.

Greetings everyone, a year ago I started a collection of Morgan Dollars based on the New Orleans Mint. After I finished that set one thing lead to another and now a year later I am halfway to completing the entire set. If in the last year, you would have told me I would be where I am today, I would have said you?re nuts. The sheer logistics of it all is overwhelming. To buy half the coins needed to complete a 105-coin collection, I had averaged one new coin per week. No wonder I lost interest in my other sets. To buy Morgan?s at that rate, I had neither the time nor the resources to buy anything else. I must have an obsessive-compulsive disorder when it comes to coins. Nevertheless, I did not mortgage the house or let my credit cards get out of hand to get where I am today. That said I am delighted with where I am, and I look forward to completing my set albeit hopefully at a slower pace.

When I started my collection, I thought a ?modest? budget of $200 per coin was reasonable. After all, I spend a little more than that at the grocery store every other week, and I drive an old car with no car payments. Minus the four budget-busters (89-CC, 93-S, 94, and 95-S) it seemed like an entirely reasonable budget for a person of my means. What I did not take into account is that 53 coins at $200 each is a lot of money! It?s all quite daunting when I think about it, but even more daunting is the incredible quality and value a set of $200 Morgan?s can be!

For an average of $200 per coin (less the budget-busters), I can buy 65% of the coins needed to complete my set in Mint-State condition. 82% of the coins can be had in Almost Uncirculated or better. This leaves only 19 coins grading less than AU-50 with a minimum of VG-10 that I will have to buy. Additionally, I already own 22 coins that are Gem Brilliant Uncirculated. Not too shabby I?d say for a classic set that is over 100 years old and has a large collector following.

Three weeks ago, I hit the 50% threshold with the 1884 and 1889 dollars in MS-64 condition won on auction through ?Great Collections." To cross the 50% threshold in style with coin number 54 is an 1889-CC dollar that I bought in F-12 condition! Now past halfway to completing my collection, I own two of four budget-busters, (the 93-S and 89-CC) with only the 94 and 95-S remaining.

It is now time for a break, and my Mint-State Eisenhower Dollar set is just what the doctor ordered. Buying the highest grades possible without going over $1000 on a single coin is my current goal. Upgrading the few Ike?s I currently own has already yielded an increase in points for my 20th Century Type Set. I now look forward to completing this high-quality set. Naturally, I will have a lot more to say on Eisenhower Dollars in my future posts.

On another note, I recently sold ten ?First Spouse? coins and netted a 50% profit due almost entirely to the rapid rise in the price of gold. I still own eight of these and plan to sell four of them later. I am going to keep the short set of four ?Liberty? coins for my ?Inspirational Ladies? custom set. The four coins I plan to sell will finance the other two budget-busters in my Morgan set sometime down the road. At some point, I will get back to my Morgan?s, but for now my attitude is, ?what?s the hurry??

I am also planning a ?coin of the month? journal post to highlight obscure coins from my collection. This will be a lot of fun and I hope you all will like it. Until next time, happy collecting!





Recommended Comments

There are no comments to display.

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now