Advice Requested - Thinking of Selling/Trading Morgan Dollar Collection 2 2

[caltx01]

I have a full date set of Morgan Silver Dollars (multiple coins for some dates) which includes a complete set of Carson City coins.  If I am going to trade or sell this collection, would I be likely to be able to move it as a whole (preferred) or should I anticipate needing to sell the coins individually?

Thanks for any and all advice.

Cal in Texas

 

 

Edited July 10, 2022 by caltx01

[MarkFeld]

Odds are incredibly small that you could do nearly as well selling the set intact. 

Due to preferences of potential buyers regarding date, condition, appearance and price, many might pay a good price for one coin or a small number of them, but have little or no interest in the others. And trading the set for a fair price would likely be extremely difficult. You would be much better off selling the coins individually, or in small groups.

Edited July 10, 2022 by MarkFeld

[RWB]

Agree completely with Mark. Also, There are a lot of complete date sets around the coin market. They were popular items sold by the piece by dealers as a way to move common dates out the shop door.

From what I can tell by enhancing your first photo, most of the coins are ungraded, in generic holders, and are either sliders or lower (VG to EF) circulated pieces.

Several coins have the appearance of being cleaned (foreground row). If this is a fair overall description, there is limited value to individual coins and no value as a "complete date set."

I realize that seems harsh, but it is the reality of selling such groupings, and that seems to be your ultimate question.

Edited July 10, 2022 by RWB

[VKurtB]

The question over selling off Morgan dollars depends on when they were acquired. I just sold some Morgan dollars I bought in the 90’s and got a really nice price for them. A few I had sent raw to ANACS and a few were Teletrade purchases. I took a loss on NONE OF THEM. 

[Nutmeg Coin]

I'd sell them one at a time on ebay.  Buy it now with offers, never auction them unless you have dozens of followers.  Do your research to see what individual coins will likely sell for by researching sales in advanced search, click on "sold" items.  Common Morgan dollars that are cleaned may sell for $30-$40 or so.  No problem AUs and Uncs. will probably sell for around Greysheet.  GSAs and better dates, should do quite well.  Key dates need to be analyzed accurately on grade to determine at what price to list them.

I'd never think of trading or selling as a group, good way to lose a lot of money.

 

 

[MarkFeld]

On 7/10/2022 at 1:03 PM, VKurtB said:

The question over selling off Morgan dollars depends on when they were acquired. I just sold some Morgan dollars I bought in the 90’s and got a really nice price for them. A few I had sent raw to ANACS and a few were Teletrade purchases. I took a loss on NONE OF THEM. 

The poster asked about the best way to sell them - as a group or individually. When he acquired the coins and what he paid for them should be largely, if not completely irrelevant to the advice he’s given.

[Nutmeg Coin]

On 7/10/2022 at 3:28 PM, MarkFeld said:

The poster asked about the best way to sell them - as a group or individually. When he acquired the coins and what he paid for them should be largely, if not completely irrelevant to the advice he’s given.

I agree; if they were old Teletrade purchases and old holders likely there would be strong interest for them which can be tough to ascertain unless you do enough research.

[zadok]

On 7/10/2022 at 3:24 PM, Nutmeg Coin said:

I'd sell them one at a time on ebay.  Buy it now with offers, never auction them unless you have dozens of followers.  Do your research to see what individual coins will likely sell for by researching sales in advanced search, click on "sold" items.  Common Morgan dollars that are cleaned may sell for $30-$40 or so.  No problem AUs and Uncs. will probably sell for around Greysheet.  GSAs and better dates, should do quite well.  Key dates need to be analyzed accurately on grade to determine at what price to list them.

I'd never think of trading or selling as a group, good way to lose a lot of money.

 

 

...be prepared to document ur actual capital gains on each transaction with the irs, as soon as ur total sales exceed $600 ebay will generate a 1099 to big brother....

[Nutmeg Coin]

On 7/10/2022 at 7:29 PM, zadok said:

...be prepared to document ur actual capital gains on each transaction with the irs, as soon as ur total sales exceed $600 ebay will generate a 1099 to big brother....

That wouldn't be in the top 10 of my thoughts on selling these coins; that sounds like the mentality of someone who will make cash offers to save people the need to work it in to their taxes at the end of the year.

Getting top dollar is the first objective when selling coins, which you will never get selling to dealers.   On taxes, work in all your deductions or have an accountant do it though online software is readily available online.

Another thought, some of the coins may be cleaned others not.  Some may be AU some may be Unc.; getting them properly assessed is vital for value. Maybe someone will give you a copy of Greysheet, or you can look up values on PCGS coinfacts for free.

[Quintus Arrius]

On 7/10/2022 at 7:29 PM, zadok said:

...be prepared to document ur actual capital gains on each transaction with the irs, as soon as ur total sales exceed $600 ebay will generate a 1099 to big brother....

You are a scrupulously honest and forthright member... [unfortunately anything further I might add--which, ironically, would contribute to the "body of knowledge"-- would be excised, making posting a superfluous, futile act.]   

[Nutmeg Coin]

Just work in all your deductions, all costs connected to the collectibles, which you should have a lot of and you shouldn't pay much in taxes.  One year the IRS sent me an erroneous bill of around $80K because I hadn't included the paypal statement; through HR Block I paid nothing.  It's silly to think the IRS would audit you for a modest collection of your own you are selling.   You would have a bigger chance of being hit by a meteor.   

Looks like you have some GSA cc Morgans, including an 1880cc.  Rev. of 79 is worth a premium in higher grades.  GSAs such as 1890, and 1891cc are worth multiples of non-GSA coins.  Don't let people intimidate you.