1.  Unless they're common-date $5, $10, or $20 gold pieces or Bullion/Modern Commemorative (post-1981 commemorative) coins, NEVER buy a coin worth over $100 uncertified.  Also, when you do, ONLY buy PCGS, NGC, or ANACS.  They're the only grading services worth trusting, PCGS is the best of the three but they're all serviceable.

2.  Build sets rather than buy any coin that tickles your fancy.  You'll be a lot more proud of your collection that way even if it seems restricting at first.  I wouldn't work on any more than 3 or 4 sets at a time.  If you're collection Morgan Dollars I'd suggest getting one of each mint mark. The San Francisco (S), Denver (D), New Orleans (O), and Philadelphia (no mint mark) cost about $10 in average circulated and $20-$40 in lower Uncirculated.  The Carson City (CC) common date (1882-CC, 1883-CC, and 1884-CC) cost $60-$100 in Circulated grades and $150-$300 in lower Uncirculated.  I built this mint mark set (in Uncirculated) and in circulated grades you can make it for as little as $120 or so, but in Uncirculated it will cost at least $250 to piece together.
You'd have to be a rich mofo to built an entire date/mint mark set of Morgan Dollars.  With Wheat Pennies, let's say, an Average Joe could complete the set, but you'd still be out the bank by $500-$2000+, depending on grades and if you wanted to include the rare 1909-S VDB.

Some tips from somebody who's spend 3-4 yrs. in the hobby overall.

-FHF  :)

I just recently bought a book about the Morgan Dollar and reading through it (granted I have read ALL of it yet) I have learned a bit. I do have a few "O"s in my collection but none graded. I think I told you that I REALLY WANT a "CC" but I want one in half way decent shape. I have resigned myself that if I REALLY do want it, I am going to have to fork out the $$$ to get what I want. I am still debating with myself, if I want it THAT bad and if I am willing to pay that amount of money for just a coin.

I think at this point in time, I know enough about collecting NOT to get ripped off (at least not too much  ;)) When I first started collecting (about 10 years ago or so) I KNOW I was ripped off big time. Oh well. Live and learn.

I don't collect to make money (have never sold a coin in my life). I collect because I love coins. I hope someday to pass my collect to one of the grandkids and who knows, maybe by that time, my collection might be worth something. At the moment, I'm sure it not worth much in the big scheme of things. But, I like my coins and that's what counts.  ;D

Thanks for the advice.



Cat

Thanks for the info, FHF ;)

You're welcome guys :)


I just recently bought a book about the Morgan Dollar and reading through it (granted I have read ALL of it yet) I have learned a bit. I do have a few "O"s in my collection but none graded. I think I told you that I REALLY WANT a "CC" but I want one in half way decent shape. I have resigned myself that if I REALLY do want it, I am going to have to fork out the $$$ to get what I want. I am still debating with myself, if I want it THAT bad and if I am willing to pay that amount of money for just a coin.

I think at this point in time, I know enough about collecting NOT to get ripped off (at least not too much ;)) When I first started collecting (about 10 years ago or so) I KNOW I was ripped off big time. Oh well. Live and learn.

I don't collect to make money (have never sold a coin in my life). I collect because I love coins. I hope someday to pass my collect to one of the grandkids and who knows, maybe by that time, my collection might be worth something. At the moment, I'm sure it not worth much in the big scheme of things. But, I like my coins and that's what counts. ;D

Thanks for the advice.



Cat



Yeah, the only reason I spend so much money on coins is because I don't spend it on much else!  As for the CC, if you decide you don't want an UNC I'd suggest getting a high grade circulated, like an EF.  That might cost about $100 or so at a coin shop.  If you do, make sure it's nice for the grade though.

-FHF  ;)