Good pawn shop purchase.

[Danman]

Last Monday I was on my way to meet up for lunch with an old friend and I had some time to pass, so I stopped at a pawn shop in Virginia about 30 minutes from where I live here on the East coast. I saw a few gold coins in the case but no silver. I asked the owner if he had any US silver coins and he did. He pulled out a set of 5 Morgan's (all cleaned/polished) and another set of 3 Morgan's (which look to be in BU shape). Both sets were priced at $149.99. I asked how much he would take for them and he said he would look them up. To my surprise he said he would take $100 for the set of 5, and $60 for the set of 3. I ended up paying $169.60 (that includes the tax unfortunately ) but I can't complain because if you take $169.60 and divide that number by the amount of coins I got (8), that averaged out to exactly $21.20 per coin.

Here are pictures of my purchase. Am I right on the grade of the three Morgan's in the black case?




I will try to take some better pictures of the 3 Morgan's if the grade on those is hard to judge.

 

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[signal]

Not being an actual collector myself, what do you figure all those coins are really worth?

 

[jerseyben]

$21 for cleaned/polished Morgans? Not a bad deal but not a good deal either... Sorry.

 

[diggummup]

When it comes to silver, I'm still looking towards the future. At $20-$22 each you can't go wrong. Not a great profit yet, but for me it would be something to hold on to for the years to come. For a pawn shop, that's a good price.

 

[Danman]

$21 for cleaned/polished Morgans? Not a bad deal but not a good deal either... Sorry.

Why are you apologizing? I'm happy with my purchase. I plan to sell those should silver go up.

But you never acknowledged the other 3 Morgan's I got that aren't cleaned.

 

[TXPIRATE]

Looks like a good deal to me. Silver is Silver buy as low as you can sell when it goes up you did good.

 

[vpnavy]

Nice buy. Thanks for sharing...

 

[Koffee]

I talk with all the local dealers here as I buy most of their over stock and stock when they need an influx of cash. So locally being California bay area, Morgans prices have really gone up. With Morgans you have multiple venues to sell to which some other coins do not have. This is one of the reason that the prices remain stable and immune to silver fluctuation. Some of these venues I use are TV shopping clubs, you do need a significant amount to sell to these business. You also have big coin Stores in Nevada and other states that are paying 20 - 22 for goods and 37 for Uncirculated Morgans.

In my opinion you got an excellent price.

Cheers -Koffee

 

[tamrock]

Take a small course in silversmithing and turn em into belt buck buckles. Then sell them for 60 bucks each. You did fine. I've had coin addict friends do real bad on Peace & Morgan purchases ... hang on to them.

 

[Danman]

Take a small course in silversmithing and turn em into belt buck buckles. Then sell them for 60 bucks each. You did fine. I've had coin addict friends do real bad on Peace & Morgan purchases ... hang on to them.

I will not take any courses in "silversmithing" and why should I? The amount of money I would pay for this "course" probably costs more than the $60 I can supposedly make from selling Morgan dollar belt buckles.

 

[centfladigger]

good score

 

[austin]

Think you got a good deal. They ain't makin any more and the value will only go up. Don't pay attention to negative people. Most of them are probably penniless 7-11 part-time employees who now will attack me because I made fun of their pitiful, negative, wish they knew everything lives...

 

[vwayne1]

Think you got a good deal. They ain't makin any more and the value will only go up. Don't pay attention to negative people. Most of them are probably penniless 7-11 part-time employees who now will attack me because I made fun of their pitiful, negative, wish they knew everything lives...

Are you talking about the coins value only going up?? Prices on these go up and down drastically all the time.

 

[Joe777Cool]

Think you got a good deal. They ain't makin any more and the value will only go up. Don't pay attention to negative people. Most of them are probably penniless 7-11 part-time employees who now will attack me because I made fun of their pitiful, negative, wish they knew everything lives...

So it's not ok to be negative or not share in the sentiment that the op got a great deal, but it's ok to make gross generalizations and disparage minimum wage workers, convenience store employees, and people who are broke?

 

[Danman]

Here are some better pictures of those three Morgan dollars: