Anyone ever bought "40 Different BU Morgan Dollars housed in two Dansco Albums?" 0

[Mike_W]

I've been collecting since I was a kid in the 70s and for as long as I can remember all of the coin publications usually have one or more advertisers each in issue offering "40 different Morgan Dollars housed in two Dansco albums." Has anyone ever purchased one of these sets and were any of the dollars even MS60? When I started collecting Morgans a few years ago my first goal was to first get all 40 uncirculated dollars from the list BUT buy them NGC or PCGS certified. I even up getting the first 40 mostly MS65 or better and most of them CAC. I've bought many more but still have a ways to go with that set. I've got all of the slabs in Lighthouse albums but there's something about having the raw coins in a Dansco or Whitman album - guess it takes me back to when I was a kid.

So my question is - as a second set is it worth buying one of these uncertified 40 coin sets or have many of you had bad experiences in the past (whizzed or cleaned coins that were advertised as BU)?

Thanks!

 

[World Colonial]

I've heard of collectors doing this for other much cheaper series, but I don't see a reason for it.  Seems to defeat the entire purpose of collecting to me.  One of the recreational aspects of collecting is choosing the coins individually with attributes you personally prefer.

[DSessom]

I would definitely have to see the set in person first before making the purchase. The reason for me personally is all the counterfeits currently pouring out of China. They are getting very good at minting fakes, even slabbed fakes as well. 

[PSUMAN08]

On 4/28/2023 at 1:13 PM, Mike_W said:

whizzed or cleaned coins that were advertised as BU?

I think you already know the answer.

[RWB]

In the 1960s "complete sets" or similar items were popular among newer collectors. It gave them something without large numbers of empty holes to fill, yet had "body" to it and cold be shown to family or friends. The albums were usually heavy Whitman or Library of Coins types with plastic slides. Both sides of the coins were visible and they were easy to upgrade -- at least until collectors discovered that their "BU" coins acquired slide abrasion.

Small/Midsize dealers liked this approach because they could sell off lower value duplicates at a good profit. There was little concern about counterfeits - none of the coins were rare. Most such sets were advertised as G or better or even F or better for Washington quarters, etc. Complete BU Franklin, FDR, Lincoln 1940 and up, 1934 WL halves (XF 38-D) were readily available with most of the BU coins straight from bank rolls.

Most of this vanished not long after 1965 as silver bullion advanced in price.

[Sandon]

   I wouldn't buy such a pre-packaged set because the odds are that at least some of them will be overgraded or unattractive for the grade. There's nothing wrong with collecting uncertified coins, especially those whose value is too low to make them worth certifying, provided that you have sufficient knowledge and experience to form a reasonable opinion as to their authenticity and grade.  It also helps to buy them on a sight-seen basis from reputable dealers. While I mail-ordered individual coins decades ago, I wouldn't do it now. Even back then I sometimes received pieces that were consistent with the dealer's description, but I just didn't like them.

   If you want to collect uncertified Morgan dollars, notwithstanding their being grossly overpriced nowadays, you should buy them at coin shows or similar venues and select those that are to your taste.  You can also buy your own Dansco, Whitman or other albums, although I do not recommend albums for silver dollars or other large, thick coins due to the propensity of such albums to cause devaluing "slide marks" on the high points of the coins. I keep most of my uncertified silver dollars in 2x2 inch hard plastic "snaptite" holders or other hard plastic holders. 

[Coinbuf]

My answer would depend on the price and motivation, if I were able to acquire said coins close to spot prices as a bullion buy then I might.   If the prices were for collector grades well above spot silver then I would run for the hills.

[The Neophyte Numismatist]

Whenever I see a completed set that I would LOVE to own, I am happy if I can get a single coin from it.  I could never afford the collection in one shot, so mine has to come in baby steps.  The collections that I can afford, I do not love.  Buy what you love!

 

 

 

[Henri Charriere]

Welcome to the Forum!

My feeling is while having spent your formative years in the post-silver era, once you've been exposed to certification and encapsulation, there's no turning back.  You've got a wealth of knowledge right here at your fingertips. 

Nothing wrong with nostalgia, but in a package deal on an incomplete collection, you will taken to the cleaners.  I'd sooner spring for the ultimate atrocity: electroplated gold state quarters.

By the way, how many dealers do you suppose would buy 40 Morgans compiled in two albums if you insisted each be appraised on the strength of their respective merits? NO collection is complete. That's a tentative designation that can change in the blink of an eye.  Most "collections" are works in progress. Some inevitably turn out to be life-long efforts. The real money to be made is at the very top.  Second best just doesn't cut it but most often that's not by choice. Happy collecting!

 

[EarlyUS.com]

Since I work for an auction company that actually sells such items (and not just Morgan dollars - partial sets of just about every series, really), I can speak with a considerable amount of experience.  YES, you can get some really, really nice hits from buying these as long as your seller is reputable.  Some of my very favorite purchases were such items, and in fact, my Peace Dollar set in UNC started out as such.  I bought a set missing the 1921 and 1928 and probably a third of the coins were mint-state.  Of course, there will be some cleaned or otherwise questionable coins as well, but that's why you look at the set before deciding what you are willing to pay.

[coastaljerseyguy]

Seems to take the joy out of collecting and picking coins that appeal to you.  Believe you would probably sell off many and replace with others.  Be patient and if buying anywhere near that quantity would want to see in hand.

[Jay Carpenter]

If you're considering purchasing one of these sets as an additional set, the decision ultimately comes down to your personal preferences and goals. If you collect coins as a hobby and aren't particularly concerned with their condition or rarity, purchasing such a set could be worth considering. Who knows, you may come across some interesting specimens or options that catch your eye.