Those TV Ads For Morgan Silver Dollars

[rk911]

I'm not a coin collector but I've been thinking of buying a genuine Morgan Silver Dollar. why, you ask. no reason, just want one. are those TV and radio ads hawking the Morgan's legit or snake oil? am i better off shopping at my local coin shop? i'm just looking for a Morgan in good condition. Comments?

 

[ownyourfuture]

I'd go to your local coin shop. If that didn't work, I'd try eBay. I bought lots of 1964 JFK $.50 pieces there back in 2017 & always had good luck.

 

[dmpi]

You are most certainty better off going to a local coin dealer. Also not all coin dealers are the same. Some just specialize in precious metals and bullion coins/bars. Check out your local shops first and see what kind of stock they carry. Also understand the sales tax situation. Every state is different.

 

[Jerry1]

Check out a couple local coin dealers but check this out first - just for educational purposes. It’s online so shipping would likely favor the local dealer.

https://www.apmex.com/product/167/1878-1904-morgan-silver-dollar-bu-random-year

 

[prudent_one]

Local coin shop. You should be able to get one that has wear for $30-ish or one with no wear for $50-$60.

 

[erkevin]

Any of those TV ads for coins are an absolute rip-off. As a collector for 50 years, every time I see those commercials, I check their prices vs retail and current market prices. I have NEVER come across an ad where I said "mmm that's not a bad deal".

 

[VanWinkle]

Any of those TV ads for coins are an absolute rip-off. As a collector for 50 years, every time I see those commercials, I check their prices vs retail and current market prices. I have NEVER come across an ad where I said "mmm that's not a bad deal".

+1

 

[Car-Guy]

Life long collector here and IMO, most coin shows/adds on TV are rip-offs. They are usually selling the most common date Morgans and when they say "good condition" that means the coins are worn out and you can "probably" just barely read the dates. The terms "Good and Very Good" condition are legitimate grades in the coin collecting hobby but they are the lower end of the grading scale. Common date Morgans that are in good or very good condition are only worth silver melt value or about $18 today. (At best)

If you want a decent looking coin then you need to be buying at least XF45 to AU60 grades. (MS63 are much, much better). For common date Morgans they are really not much more money than the lower grades. Anything greater than a MS63 grade, for common coins, and you'll typically start paying serious premiums for the higher grading and are really for collectors. YMMV

In addition, if you are buying any higher grade (or expensive) coin, be sure to only buy PCGS or NGC certified coins. Coins dealer always over grade raw coins they are selling and under grade raw coins they are buying. Still coin shows are usually your best bets.

 

[nap470]

My FIL was a collector of many things, including coins. After he passed, we found lots of coins from many countries and several event coins (Pope John Paul II ceremonial). Everything was kept together in bags, no displays. I don't recall any Morgan dollars, but multiple 1923 Peace dollars. Also, some 1950s Franklin half dollars and lots of 1960s coins for the silver. All coins had been in circulation.

 

[wearefinishedworking]

We have my father-in-laws coin collection and have never had it appraised. Do you take it into a dealer and watch them go through everything? My husband has no attachment to it at all, but I find it a bit interesting and should learn more.

 

[Car-Guy]

We have my father-in-laws coin collection and have never had it appraised. Do you take it into a dealer and watch them go through everything? My husband has no attachment to it at all, but I find it a bit interesting and should learn more.

Depends on how many and estimated value. If there is only a handful of coins, a dealer at his shop or coin show will be happy to review and make you an offer on the spot in a few minutes. Even if you have hundreds or even thousands of "obviously common raw stuff" it doesn't take long. If you have a lot of true collectables it can take longer since dates/grades become critical. Some dealers will even come to your home if you have lots of stuff and the"estimated" value is in the many thousands of dollars.

If they come to your home, be prepare to either sell them or pay an appraisal fee.

 

[Time2]

When I was a kid 55 or 60 years ago, my younger sister and I sent in cereal box tops for a free Morgan silver dollar. I received an 1881 Silver Dollar and as best I can recall hers was a 1900 something. This would have been middle 1960s.

Not sure about her, but I still have mine.


Looking online, I could have an asking price somewhere between $2 and $3051

 

[brucethebroker]

Depends on how many and estimated value. If there is only a handful of coins, a dealer at his shop or coin show will be happy to review and make you an offer on the spot in a few minutes. Even if you have hundreds or even thousands of "obviously common raw stuff" it doesn't take long. If you have a lot of true collectables it can take longer since dates/grades become critical. Some dealers will even come to your home if you have lots of stuff and the"estimated" value is in the many thousands of dollars.

If they come to your home, be prepare to either sell them or pay an appraisal fee.

Ask your friends-see if they know any collectors. When you find one, ask for a referral to an honest dealer. I have collected since Middle School: nothing of any value, Lincoln cents, Indian pennies, etc. But I do know a couple of excellent local dealers that would treat a new customer with an estate, etc. fairly.

 

[brucethebroker]

Any of those TV ads for coins are an absolute rip-off. As a collector for 50 years, every time I see those commercials, I check their prices vs retail and current market prices. I have NEVER come across an ad where I said "mmm that's not a bad deal".

+1

 

[rk911]

thanks to everyone for the thoughtful suggestions. we do have a coin shop just down the road from us. i've had coins apppraised there after the death of my BIL and MIL so I will go there first. the Radio/TV ads seemed pretty good but I'm glad I asked.