Well /biz/ I have a bit of a decision to make.
I have recently been offered a collection of 100 morgan dollars for $1850. I know spot silver prices are much lower but I would like to also point out that they also hold intrinsic value as well. They, overall, are in great condition with most being VF or higher. I plan on keeping those temporarily but the others that arent in as good of shape being Fine or lower I plan to sell. Yes I have checked to see if they are real and I have bought off of the seller many times before. So what should I do?
pretty gay investment if you ask me.
not portable, not convertible to cash in a hurry, no one knows what a morgan dollar is, subject to VAT, totally gay as fuck.
Are they graded?
If they're not graded, don't pay more than the price of their silver content. Tell him to get them graded and come back to you.
Some Morgan dollars can be worth a fortune, and if he has one, he knows it. So if he isn't pointing any out and he's expecting you to pay a butt-ton because there COULD be some worth a lot, it sounds like you don't know shit and he's trying to rip you off.
>>1114858
This type of shit is the worst kind of investment. Its too hard to get rid of without getting absolutely scalped during the sale by ebay, paypal, whatever.
Just stay away. If you knew enough about the market for these coins you would know if its a good buy or not and wouldn't be asking here.
>>1114858
Honestly it is a fair price.
They're worth 20 bucks each, because people need specific years and mint marks to finish their collections.
Buy them, put them up on eBay for 50 each.
If they are VF they will sell for 50, May take a while
Everyone on biz is so worried about scam this rip off that they just don't understand that the dude is selling 2000$ in coins for 1850 in cash which is fair
>>1114900
>>1115113
The first guy got it right.
Is a sellers duty to know his own merchandise so he don't shot himself on the foot. Therefore, is pretty likely he knows most of the coins he's offering in bulk aren't worth more than the silver content.
In the unlikely case he's selling these coins at loss, because fuck ebay, selling them at retail will take a long ass amount of time, so is even if they made some profit, it won't be worth in the end considering how much time and effort was invested through ebay.
Trust me, there's a lot of shitheads on ebay who will try to rip you off by pulling all kind of tactics, ranging from asking for unregistered shipping methods (so they file a claim for lost items), to plain forge accusations, and in between.
Is just not worth it.
>>1115300
Even dimes and quarters are worth more than melt now.
Silver dollars made from 90 % coin silver, while having a lower metals value, are actually worth MORE than .999 1oz Eagles.
Because they're old. If they're not *totally* fucked up they're worth 20 each. Some might be worth almost 30-50 if they have the right mint marks.
You know what op? Where. I'll pay 1850 cash for it if it's in MA/NH/RI/NYC/PA
>>1115300
Its not on ebay though, it is an in person transaction. He is selling them because coin shops only offered $1500 or less on them. Im already getting them for much less than retail though.
>>1115113
Yeah I think thats the best thing to do. I dont like online but I will have to do it.
>>1115098
I was just asking for /biz/ opinion, im glad I am hearing this though about the risky type of investment it is.
>>1114900
Actually a couple of the uncirculated ones are graded which makes my job a bit easier. Yeah some are not amazing in condition but that is the only bad thing about it. None of them are worth a fortune but there is a Fine CC dollar in there.
>>1114864
>Not portable
well they arent the lightest thing but they are ok to carry.
>Not convertable to cash in a hurry
I guess but they are still silver
>no one knows what they are
Its a silver dollar
>subject to VAT
Isnt that applied to most goods?
>Totally gay as fuck
Alright
>>1115323
No man its in CA. I think I will buy the lot though.
>>1115327
Offer him 1650 and I'll show up and pay you 1750 if you're local
Actually hit him around 1600-1550 and let him work you up to 1650
>>1115333
Hmm I'll try that. He is a pretty tough negotiator but I'll see what I can do.
>>1115333
I dont think I can sell them to you because I am in california after all.
>>1115331
Ok. It's worth 2000$ in cash.
Will cost you $50 for a table at a coin show.
Buy them for 1700, then buy a 50 dollar table, sell it for 2k
Pro tip: pick up some girl from OKC or tinder on your way to the show. People give your table a lot of attention.
Let her sell them for $50 a coin for the VF like op pic related
To be honest, all the people saying its a bad deal are either:
1. Trying to find the Craigslist ad and talk you out of buying it so they can buy it
2. Ignorant on the subject ( most likely on most subjects too)
>>1115340
Alright man I'll go pick them up from the guy. Thanks scrapman.
>>1114858
Are you sure they're not Chinese fakes?
>>1115348
>guys should I buy this
>5 posts telling you it's not a good idea
>then 1 post tellint you it's a good idea
>ok thank's I'll buy them
What the hell was your intention with this thread?
>>1115390
He found an expert on the topic?
Which is normally impossible around here.
But the big shiny coin photo got me
>>1115377
Do they make fakes out of real ones?
>>1114858
OP, at $18.50 ea I'll buy morgans all day as long as they aren't '21s. Dealers aren't going to pay more than $15-16 each for them.
If you buy them I suggest you hit up /r/pmsforsale on reddit to flip the ones you don't want. Junk silver sells very well on there, and you'll be able to turn a small profit on the morgans you don't want, and you will be able to keep the nicer ones for your collection. The last time I offloaded some silver on there, it was a little over 2 grand worth and I sold it all in a single day after pricing it competitively.
Doesn't seem like too bad of a deal, as long as you get to inspect all the coins before purchase. Keep an eye out for Carson City mint marks they are some of the most valuable. For some reason I really enjoy collecting these old silver dollars. I usually buy one or two every paycheck. Not really an investment, but they are silver and they are historic and they arent making any more of them,.
