My Journey to find Morgan Collectors.
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7 posts in this topic

112 posts

I think full disclosure here: I'm not a good coin seller. I'm like the rest of you and enjoy buying them way more than selling any. I get frustrated by the process easily and while I think I'm always easy to work with and I always go the extra mile to make it a smooth transaction when I sell (because I can so relate to being on the buy side of a deal) I don't like selling.

 

So I think it is decently well known I am starting to sell a ton of Morgans. All key dates, conditional rarities, PL & DMPL, etc. Nice coins.

 

I started like 2 months ago with a pair of 1902-o MS 66+ CAC. It took awhile but they sold. I figured that those were not super hot coins and I had sort of made it sound like the 2 had to be sold together (they did not) and that is why it took so long.

 

I figured once I got into the "good stuff" it would be easy sailing. Morgans are still the most collectible series in the world. Thus far it has been a nightmare. I had a great 1880 8/7 Rev of 78 MS 66 and had essentially zero interest. Not over price just zero overall interest.

 

I started over last month to reach out to Morgan collectors I knew and then ask around. It is amazing to me but thus far it seems like everybody has checked out. Even the buyer of the 2 1902-o MS 66+ CAC (A very, very big private collector) was pretty much out of the market.

 

Did something happen to the Morgan market in the last 2 months? I know the coin market is not "BOOMING" by any stretch of the imagination but I have not seen a weaker Morgan market yet.

 

I've started going around asking "Hay know any big Morgan guys buying?". So far answer is almost entirely "No."

 

Strange.

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I no longer collect Morgans but I know your feeling. I think what scares a lot of collectors is that many coins sell cheap at auction and many would track auction prices as a general guide to value. I say keep that 82-S if it has that cameo look. Deep mirrored coins still get that DPL but a nice cameo 82-S is one rare bird.

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112 posts

 

 

Another Hoosier? This is part of the Great Numismatic Desert. There cannot be two of us!

 

lol

 

Yeah it is rough. In regards to that 82-s it is one of my best Morgans but I'm committed. I'm cleaning out. I don't want to be a coin hoarder, I'm a coin collector.

Edited by planman2014

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12,768 posts
I think full disclosure here: I'm not a good coin seller. I'm like the rest of you and enjoy buying them way more than selling any. I get frustrated by the process easily and while I think I'm always easy to work with and I always go the extra mile to make it a smooth transaction when I sell (because I can so relate to being on the buy side of a deal) I don't like selling.

 

So I think it is decently well known I am starting to sell a ton of Morgans. All key dates, conditional rarities, PL & DMPL, etc. Nice coins.

 

I started like 2 months ago with a pair of 1902-o MS 66+ CAC. It took awhile but they sold. I figured that those were not super hot coins and I had sort of made it sound like the 2 had to be sold together (they did not) and that is why it took so long.

 

I figured once I got into the "good stuff" it would be easy sailing. Morgans are still the most collectible series in the world. Thus far it has been a nightmare. I had a great 1880 8/7 Rev of 78 MS 66 and had essentially zero interest. Not over price just zero overall interest.

 

I started over last month to reach out to Morgan collectors I knew and then ask around. It is amazing to me but thus far it seems like everybody has checked out. Even the buyer of the 2 1902-o MS 66+ CAC (A very, very big private collector) was pretty much out of the market.

 

Did something happen to the Morgan market in the last 2 months? I know the coin market is not "BOOMING" by any stretch of the imagination but I have not seen a weaker Morgan market yet.

 

I've started going around asking "Hay know any big Morgan guys buying?". So far answer is almost entirely "No."

 

Strange.

 

Granted, the overall market isn't very good. However, I think your asking price was quite aggressive on a Morgan dollar you had listed for sale on the Money Market forum, recently. And ditto for a current listing of yours, there. A soft market, combined with strong asking prices is going to make for tough sales.

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18,310 posts

I wonder if silver dropping in prices these last few years had an effect?

About $16 an oz,while in 2011 it was over $50.

hm

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It is hard to get top dollar online, unless you are selling at a major numismatic auction. That is why I recommended selling at the FUN show, go to the major buyers who specialize in what you have and you will get offers. HA has a particularly helpful approach at major shows of making good offers to dealers, not sure how that would work for collectors. But all the major players are there. And CAC stickers would help as well, which is not a hard process either.

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1. Make sure you look to the most recent auction data rather than price guides if you are looking to move the pieces quickly.

 

2. It is not always fair, but the PCGS premium is enormous for the better date Morgan Dollars. For the one example we discussed, the difference was 2:1.

 

3. CAC has changed the playing field. I don't agree with it but the PCGS-CAC combination does better in many instances than the NGC-CAC combination.

 

4. Having excellent images is helpful. If you need the name and contact information of a good coin photographer, I can send you some names/contact information.

 

5. For some of the smaller population/census items that trade infrequently, many of the premiums in older auctions may have reflected registry trends. Declining popularity of the registries in some cases and increases in population reports will only hurt the value of those pieces.

 

Edited: Harry Laibstain offers discounted grading services, here: http://www.hlrc.com/Home/Services .

 

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