Good Deal for morgans?

[starkizzle]

So i have a response to a craigslist ad to buy coins, and after negotiations I'm looking at 50 mixxed date morgons in ok condition for 19$ each, assuming they are real would you buy them? I'm think of re selling them on ebay. . I've sold morgans on ebay for like 32$ +shipping. on average, so after fees its like 28-29$ a morgan...
any thoughts?

 

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[SilverFace]

Btw, is that an 1893 O Morgan?

 

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[starkizzle]

Btw, is that an 1893 O Morgan?

Yes sir.. i plan on cataloging tomorrow

 

[starkizzle]

And to any one reading this, the weight, without using a grain scale was 26.7, and non magnetic,

 

[SilverFace]

You definitely got some great dates and an incredible deal if they're for real. I sure hope you can get an expert confirmation soon. And did you say the seller has more too? And were you able to select the ones you got or did the seller do the choosing?

 

[starkizzle]

You definitely got some great dates and an incredible deal if they're for real. I sure hope you can get an expert confirmation soon. And did you say the seller has more too? And were you able to select the ones you got or did the seller do the choosing?

There's more.. and those are just what he gave me, no cherry picking

 

[SilverFace]

There's more.. and those are just what he gave me, no cherry picking

Wow, that's incredible. I wonder what the dates are that he has left. But regardless of the dates, as long as they're for real you cant go wrong and you definitely come out way ahead at just $19 each. Did you get some '21's too or are they all pre -'21's?

 

[starkizzle]

Some 21's

 

[maine_Jim]

I see one problem and that is the 1879 coins look the same. That can be a sign of trouble. Not trying to be a bummer here but when you get a group of coins that have the similar wear, tarnish and grime it can be a problem. Some Chinese fakes have this exact look. A few more photos would be helpful especially when you are talking high priced coins. I would be leaning to thinking they are fake without a closer look. I am not in your area to look at them in person. The more photos the better. A list of the dates and mint marks would help also.

Maine_Jim

 

[SilverFace]

I was wondering how similar the pics of those 1879 (or aren't they 1889's) coins look too, but then I was thinking maybe those two pics are probably the same coin and you just posted double pics for some reason. But also why would someone be trying to sell fake 1889 CC Morgans for just $19 each? And do the fakes really look that good?

I guess Im referring to the two pics of the 1893 coin/coins, they look exactly like the same coin. Are they two different coins or the same coin?

 

[starkizzle]

If you guys are talking about the 2 1879 on the blue tissue paper they are 2 different coins, il check them out for similaritys tomorrow

 

[Danman]

I'm still a little skeptical as to whether or not those are real. While you did say that they passed the weight test and are non-magnetic, have you tried dropping them onto a table to hear how they sound? I'm not suggesting dropping them from several inches in the air and risk damaging them if they are real, but rather drop them just barely above the table like perhaps an inch high. If they have that distinct, high-pitched sound, they're pretty much guaranteed to be silver.

No matter what the outcome is, I believe you should take them to a coin shop to have them appraised. Some people at pawn shops have limited knowledge on coins so there's always a chance they could be wrong. Like the other people here, I'm also hoping these are real because if they are, you will have made the purchase of the decade.

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However I must say that I think those two 1879 Morgan's are fake simply because they look exactly alike. They may weigh correct but that doesn't mean they can't be made of another non-magnetic metal like copper.

 

[baddbluff]

I think they are ALL fake for two reasons:

1) they all look exactly the same (same white color in center w/dark toning around edge) &
2) no one would sell tens of thousands of dollars worth of coins for $19 each.

I'd take them to a reputable dealer, then if they are fake, call the Secret Service & set up a sting operation. It's a FELONY to sell counterfeits. You could save yourself and someone else A LOT of money by shutting this guy down.

 

[silverdollarbill]

Wow...they look really, really good. However tarnish pattern is the same and deal seems way to good to be true.

Why not just drill a common date one?

Also, start arranging to buy more. I suspect you will not hear back from him.

Really hope I am wrong.

 

[huntsman53]

Well, I was really hoping that you fell into a great deal where the person did not know what they were selling and was selling them cheap! I still hold out hope for you that you did not get taken but I fear the worst! I say this because of what the others have noticed and that is the similar wear and the dirt/discoloration patterns on most of them but when I saw that you received one or more 1889-CC Morgans in the bunch, I said to myself, no way. Nobody sells one or more "King of the Morgan Silver Dollars" for $19 a piece, let alone the other "CC" Morgans you purchased in the deal. You need to have them checked out by someone who really knows their stuff (probably a longtime, knowledgeable and experienced Coin Dealer at a Coin Shop), not someone at a Pawn Shop that occasionally buys Silver coins for their' Silver content. If the coins are in fact or even some of them, contact Law Enforcement right from the Coin Shop, have them come in and take a report and you set up a sting operation on this guy, if he hasn't already left town. Folks that sell the Chinese counterfeits may only come to town with light luggage and a Laptop, stay in a cheap Motel, create an Ad on Craigslist, meet with an unsuspecting Buyer, sell the coins, check out of the Motel and move to the next town. Again, I hope that they are genuine but if not, I hope that Law Enforcement can nab the guy! You could contact the Secret Service but once the Law Enforcement Agency who has jurisdiction (Police, Sheriff's Office or Constable), will more than likely contact them as soon as they right up the Report.


Frank

Added: If in the future, you make similar purchases from folks off of Craigslist, follow these simple rules: Meet in a public place with a lot of people around and hopefully one that has cameras for security. Arrive early so that you can see what the Seller is driving and try to take someone along with you, that can sit elsewhere to observe and be your safety net. Note the make, model, color and year of the vehicle that the Seller arrives or leaves in and take down the License Plate number. Ask the person's name and ask to see their' ID to insure it matches and to see where they are from. If from out of State, then that is an automatic Red Flag and one which should end any deal right then. Always take Silver and Gold testing kits, take a weighing scale that accurately measures in grams and take a copy of the Redbook on U.S. Coins to reference what the coins should weigh as they came from the Mints. Of course, you will have to allow for wear but unless a Morgan is completely slick, it generally should not weigh more than .50 of gram or so under the weight of a normal Morgan Dollar as it came from the Mint and most times, not more than .30 of a gram off.

 

[BuffaloBoy]

I am sorry, but I am 99% certain that the key dates are fake for the reasons stated above. If its too good to be true, odds are, it is.

 

[SilverFace]

Like everyone else Im sure interested in knowing what the truth is about these coins. Some of the coins do look very similar but if they are fake they look like very good quality examples of counterfeiting. And if someone was knowingly trying to sell fake 1889CC Morgans why wouldn't they try and get more than just $19 each for them? Of course I know the same question could be asked if they're real too. And if some of them or all are fake coins but still actually silver then starkizzle actually paid about what their intrinsic value is currently worth (depending on exact silver content if any) so he might not of actually even taken a loss on the deal. A lot of ifs. Hopefully a knowledgeable coin expert can tell you for sure sometime soon. Good luck.

 

[starkizzle]

Well, I was really hoping that you fell into a great deal where the person did not know what they were selling and was selling them cheap! I still hold out hope for you that you did not get taken but I fear the worst! I say this because of what the others have noticed and that is the similar wear and the dirt/discoloration patterns on most of them but when I saw that you received one or more 1889-CC Morgans in the bunch, I said to myself, no way. Nobody sells one or more "King of the Morgan Silver Dollars" for $19 a piece, let alone the other "CC" Morgans you purchased in the deal. You need to have them checked out by someone who really knows their stuff (probably a longtime, knowledgeable and experienced Coin Dealer at a Coin Shop), not someone at a Pawn Shop that occasionally buys Silver coins for their' Silver content. If the coins are in fact or even some of them, contact Law Enforcement right from the Coin Shop, have them come in and take a report and you set up a sting operation on this guy, if he hasn't already left town. Folks that sell the Chinese counterfeits may only come to town with light luggage and a Laptop, stay in a cheap Motel, create an Ad on Craigslist, meet with an unsuspecting Buyer, sell the coins, check out of the Motel and move to the next town. Again, I hope that they are genuine but if not, I hope that Law Enforcement can nab the guy! You could contact the Secret Service but once the Law Enforcement Agency who has jurisdiction (Police, Sheriff's Office or Constable), will more than likely contact them as soon as they right up the Report.


Frank

Added: If in the future, you make similar purchases from folks off of Craigslist, follow these simple rules: Meet in a public place with a lot of people around and hopefully one that has cameras for security. Arrive early so that you can see what the Seller is driving and try to take someone along with you, that can sit elsewhere to observe and be your safety net. Note the make, model, color and year of the vehicle that the Seller arrives or leaves in and take down the License Plate number. Ask the person's name and ask to see their' ID to insure it matches and to see where they are from. If from out of State, then that is an automatic Red Flag and one which should end any deal right then. Always take Silver and Gold testing kits, take a weighing scale that accurately measures in grams and take a copy of the Redbook on U.S. Coins to reference what the coins should weigh as they came from the Mints. Of course, you will have to allow for wear but unless a Morgan is completely slick, it generally should not weigh more than .50 of gram or so under the weight of a normal Morgan Dollar as it came from the Mint and most times, not more than .30 of a gram off.

i actually did most of those things.

1st. he contacted me
2nd. we met inside a wendys, (his call), giving the impression he felt what he had was valuable..
3rd. i brought a trusted friend. and we each carry are trusted friends
4th. they all weighed ( granted i use a scale that measured out 1 decimal point.. i weighed over half, they all weighed either 26.7 or 26.8
5th. non magnetic

i just drilled one... and filed into the rim, it appears white... but i may see a hint of yellow? maybe some brass mix?

 

[Vdubguy]

i actually did most of those things. 1st. he contacted me 2nd. we met inside a wendys, (his call), giving the impression he felt what he had was valuable.. 3rd. i brought a trusted friend. and we each carry are trusted friends 4th. they all weighed ( granted i use a scale that measured out 1 decimal point.. i weighed over half, they all weighed either 26.7 or 26.8 5th. non magnetic i just drilled one... and filed into the rim, it appears white... but i may see a hint of yellow? maybe some brass mix?

Where did you notice this hint of yellow? In the drilled shavings or on the coin itself after filing the rim?

 

[starkizzle]

Where did you notice this hint of yellow? In the drilled shavings or on the coin itself after filing the rim?

it sees to be in the shavings, and the hole and filed spot.... but almost like a light hue if you know what i mean. i saved the shavings and i did file in a good ways to check for plating

 

[huntsman53]

Once you have taken the coins to a Professional for an expert opinion on them, please let us know the outcome.


Frank