1893 s Morgan at LCS

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Hatya
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1893 s Morgan at LCS

#1 Unread post by Hatya »

I went to my LCS today to look at some of his higher end inventory and he showed me this one. I check the PCGS numbers and they match. The R and T looked good.

I’m still kicking this one around and I told him I’d make a decision when he reopens next week. When i first seen the coin he said something like $5,800 (i think) But after looking at few different coins I asked him for a price and he ended up texting me back later asking $6,100

I’m sorry for this poor picture I didn’t even consider posting this picture here when I took it. I took the picture more to remind me of the 4 different coins I was interested in. I’ll remember to take both sides and better pics next time.


He also had 2 1942/1 mercury dimes im interested in.

I thought i would share this girl with you all
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Re: 1893 s Morgan at LCS

#2 Unread post by SensibleSal66 »

He wants full on retail. No deal there my friend even though the mintage is 100,000 . I would confine in Daniel's opinion or the " crew" as I call them .
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Re: 1893 s Morgan at LCS

#3 Unread post by Daniel »

On a coin like this retail is normal and expected and if it's choice for VF than more. However, it's always nice to get it for less.

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Re: 1893 s Morgan at LCS

#4 Unread post by Coin Mule »

Hey H, may I suggest using the Mint State Coin Technologies app https://www.mintstate.com/Website/APPS/ ... _Main.aspx

I found this using the app

Image

So I think your dealer is a bit on the high side

"Edit" how much a year do you spend with these folks, if you are spending a few grand ever few months, well they should give you a better break than that. If this is your first time in, I can see them charging retail, but the price still seems high, it seems to be the mentality "we don't sell much, but when we do we make a BIIIIG profit", I think it is unique in the collectables market because emotions are more involved than most other businesses, but it's my opinion not to be confused with fact.
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Re: 1893 s Morgan at LCS

#5 Unread post by Daniel »

mintstate.com is not what you can buy coins for but what you can expect to get for your coins when selling, as a collector. An 1893 S is a retail coin to buy from a dealer as long as it looks the grade.

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Re: 1893 s Morgan at LCS

#6 Unread post by Hatya »

Daniel wrote: Sun Feb 21, 2021 8:54 pm mintstate.com is not what you can buy coins for but what you can expect to get for your coins when selling, as a collector. An 1893 S is a retail coin to buy from a dealer as long as it looks the grade.
Ok maybe im not reading this right.

If i sold this coin to a dealer I should expect $5,100 ? He’s asking $6,100 That’s one helluva spread.

I’m not trying to get rich off of investing in coins, but I would expect that if I invest in solid rare/scarce coins i would see some kind of return on my investment over the years.

IF $6,100 is a fair value for this coin ( which I don’t agree with) then $5,100 is 16% off retail. Which mean after 5 years, assuming a small 3% ROI I would still be underwater selling this coin to a dealer. Something smells funny here.

I want to build my collection around some very nice examples of rare coins, but not if there isn’t a reasonable upside.

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Re: 1893 s Morgan at LCS

#7 Unread post by Daniel »

Collecting coins is a hobby not an investment, I've preached that on my channel for years. People have it backwards, this is just a hobby with no guarantee of an upside. If it was that easy guys like Warren Buffet would be hoarding the coins. A dealer making 16% isn't that great either, but sometimes it's much less than that, but hard to survive on 16% unless you do a large gross volume.

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