My 1st Morgan Purchase

[GoldFinger1969]

It was bought as uncirculated but has scuff/bag marks. Normally I wouldn't spend money on an older coin without slab protection but I thought this was comparable to some of the MS-rated coins I saw on Ebay and some of the auction houses. If I am wrong, it's not an expensive lesson (wouldn't try this with a Saint or Liberty gold piece).

 

 

 

Edit: Eh, the pics look crappy ....I'll try and take better ones. Damn lighting !!!

[Walkerfan]

Looks like a GSA CC coin----MS 62 or 63. I LIKE it.

[Eric Hazen]

I'd put that around MS61 or MS62.

[bsshog40]

Looks like a GSA CC coin----MS 62 or 63. I LIKE it.

Agreed! More like 62 though.

[GoldFinger1969]

Thanks Guys ! As long it was MS, I didn't get shafted price-wise. I thought myself it was an MS 62 quality, but I paid AU 58 - MS 60 price-wise. I liked the coin, wasn't looking to flip it, just wanted to make sure I didn't over pay by 25% (not that it would have killed me).

 

A few more pics, a bit bigger/better:

 

 

 

Oh yeah, obviously it's a Carson City (CC) mint coin.

[jpcienkus]

For some reason, coins in the GSA holders get a more leniant grade. This might get a MS63 in this holder. I would grade it 61 or 62.

 

Did you get the orginal box and COA (Cert. of Authenticity)? These are important to GSA collectors if you ever go to sell it.

[GoldFinger1969]

Did you get the orginal box and COA (Cert. of Authenticity)? These are important to GSA collectors if you ever go to sell it.

 

I believe I have them, yes.

[orifdoc]

The second photos are much better. The lighting is good, just work on focus & stability and you'll have great images.

 

The coin is very nice. It's impossible to see every potential problem from a photo, but it looks just fine. Be careful. Collecting Morgans can be addictive!

[Mr.Mcknowitall]

It was bought as uncirculated but has scuff/bag marks. Normally I wouldn't spend money on an older coin without slab protection but I thought this was comparable to some of the MS-rated coins I saw on Ebay and some of the auction houses. If I am wrong, it's not an expensive lesson (wouldn't try this with a Saint or Liberty gold piece).

 

 

 

Edit: Eh, the pics look crappy ....I'll try and take better ones. Damn lighting !!!

 

I like the die clashes.

[SkyMan]

Congrats on your first Morgan!

[GoldFinger1969]

I like the die clashes.

 

Glad you like the die clashes.

 

I like coins with excellent die clashes.

 

Anything about these die clashes that stuck out at you ?

 

Oh yeah...1 more thing....what are die clashes ?

 

Seriously....maybe you can refer to the 2nd set of photos, I think they're clearer.

[GoldFinger1969]

Congrats on your first Morgan!

 

Thanks Sky...wow, that's some toned Morgan in your avatar !

[JVC]

Congrats. Hopefully the first of many. The 1883 CC generally comes well struck and with good luster.

[GoldFinger1969]

TV Ads for Morgan Silver Dollars: Last night while I was half-dead I saw one of those ads offering to sell Morgan Silver Dollars for $29.99....I missed the number, but at that price, it didn't seem like such a horrible deal compared to some of the stuff I've seen.

 

Obviously, it appears they are selling the cheapest Morgans they can get which sell for barely above melt value and then marking them up a bit.

 

My question is: why are they doing this on thin margins ? Do they just want to get you hooked so they can come back and sell you the higher-margin 'certified' coins ?

[MarkFeld]

TV Ads for Morgan Silver Dollars: Last night while I was half-dead I saw one of those ads offering to sell Morgan Silver Dollars for $29.99....I missed the number, but at that price, it didn't seem like such a horrible deal compared to some of the stuff I've seen.

 

Obviously, it appears they are selling the cheapest Morgans they can get which sell for barely above melt value and then marking them up a bit.

 

My question is: why are they doing this on thin margins ? Do they just want to get you hooked so they can come back and sell you the higher-margin 'certified' coins ?

 

How do you know their margins are "thin"? They might be buying them for about $20.

 

Either way, while I'm not sayng such is the case here, some sellers do offer reasonable deals on one item as a hook to get people to buy other items at inflated prices.

[GoldFinger1969]

How do you know their margins are "thin"? They might be buying them for about $20. Either way, while I'm not saying such is the case here, some sellers do offer reasonable deals on one item as a hook to get people to buy other items at inflated prices.

 

40-50% margins before S&H, and given a limit of 5 coins per order, struck me curious.

 

If they had limited supply they would want to get as many potential future leads by selling them to as many people as possible rather than sell a few hundred coins to a few people.

 

Mark, I realize a 40-50% profit margin is normally very nice but compared to some Web sites I've stumbled across or that Coin Vault Show where markups apparently reached 100-400%, it seemed almost 'reasonable' by comparison.

[MarkFeld]

How do you know their margins are "thin"? They might be buying them for about $20. Either way, while I'm not saying such is the case here, some sellers do offer reasonable deals on one item as a hook to get people to buy other items at inflated prices.

 

40-50% margins before S&H, and given a limit of 5 coins per order, struck me curious.

 

If they had limited supply they would want to get as many potential future leads by selling them to as many people as possible rather than sell a few hundred coins to a few people.

 

Mark, I realize a 40-50% profit margin is normally very nice but compared to some Web sites I've stumbled across or that Coin Vault Show where markups apparently reached 100-400%, it seemed almost 'reasonable' by comparison.

 

Understood.