If You Had a $1000 per Coin Budget for a Morgan Dollar Set, Where Would You Start?

[@georgecoker4933]

I'd like to add my 'theoretical' idea and one that I suggest to interested collectors. Instead of only installing a 'max per coin' I also suggest a grade range. At $1000 I'd suggest MS64/65. But make the assumption that $1000 is what each coin will cost. So, when you purchase a nice MS65 1884-O for around $175 that leaves $825 to put towards something more difficult in the same grade range. This will make your collection more consistent and not merely a series of dates and/or mintmarks. This takes more financial discipline but yields a great result, IMHO. The planning will change as the market changes but the same idea can be applied. Also, I know many dealers suggest buying the difficult coins first but, I think that only applies to the experienced collector. Buying an expensive coin when you don't know what you're doing can lead to mistakes that are also expensive. The TPGs do help but ugly/misgraded coins end up in holders all the time. There are many ways to construct a collection and this is just one idea.

[@joeyoest1105]

Here's some advice that's worth its price... 1) do you want your set to look uniform on your Excel sheet or when you're looking at the coins? Setting the same target dollar amount for each coin might make an accountant happy, but you'll have a beautiful coin sitting right next to an ugly one. Or you can target a certain total spend for the set and see what grade you can get across the set for that total - then the set will have a similar visual appeal across all the coins. Or do you like the idea of having a bunch of different grades, for comparison later on? Personally, I'd probably try to get the highest uniform grade I could get for the set - that may mean a $5k coin sitting next to a $300 coin, with both looking nice, but not stellar. 2) where to start - first I'd ask how committed you are. Do you have the cash set aside already and have been intentionally planning this for years? Or are you somewhat new to the hobby and plan to save up to buy one $1k coin every 2 months? If it's the latter, start on the cheap end - if it ends up not being your thing after you get 5-10 coins, or if you change your mind on your approach after you start, you won't have a ton invested. (And having several small wins early on in anything is a great motivator.) On the other hand, maybe finding that super cool $5k coin to anchor the collection will be the thing that spots you on.

[@MarriedToAMorgan]

Great topic! I’ve been putting together a Date/Mintmark set of Morgans since 2008. So far, I have just over 50% of the dates. My goals have changed over the years…now they are to complete a 100-coin set (97 in the registry plus 3 varieties that I want), to get the best example of each coin I can afford, and to have a set worth $100,000. Doing the math, that comes out to an average of $1000/coin. Rather than spending $1000 on each coin, I’d rather spend less on common dates and more on better dates. The collection will appreciate more over time, because you will get nicer key dates, and spend less on common dates that have less demand. And buy the key dates first! Then you don’t get priced out of those down the road. That’s what I’ve done - I have them all already. Now it’s smooth sailing to the end.

[@silverdrillpickle7596]

Thumbs up anything Morgan!! 🫡

[@andybusard6694]

Hi. I interpretted the question slightly differently. If he had a budget with an AVG cost of 1000.00. So if there were 75 coins in a set, his total budget would be 75,000, not spending 1000 on eqch coin. So for every 200 coin, he could spend 1800 on the next, or aggregate the differences.

[@mjanovec]

That’s the way to do it. Nice examples of common date coins can be had cheaply, so save the money for the key dates.

[@SHOCKWAVEDAVE]

I’ve targeted the key dates. Spendy of course. Jumped off the high dive board first day at the pool too. Thanks Ben. Will be watching for coin show vids.

[@vinnieg.6746]

Buy one and put the change in a container. Do that with each one of the easier ones to find. When you have all those, you should enough left in the container to cover any extra costs for the better ones. At least it sounds good on paper. Interesting goal to have.

[@highplainsdrifter6577]

👍 for the homework and highlighter skills!!! 🤓🥳🤩

[@madkingeric9669]

I started collecting Morgan Dollars 3 years ago. It's hard to find some coins, S mint in later years, any 93, 94 , 95 years ect. My first $1000 + or minus $100 coins - were 1891 CC Vam 3 MS63, 1883 CC MS66PL, and 1878 CC vam11 MS64, 1880 CC Vam5 MS65. I prefer no toning. You have to buy them as you find them. If you get into Vam's, collecting will be never ending.

[@TheQuickSilver101]

It's been a long day for me so I'm not going to read through all the comments but the 2 cents that I'll throw in is that you're far better off spending $500 on some coins (I recently purchased an 1883 CC MS64 PL for under $500) and spending more than $1000 on the more difficult ones

[@joegranados4858]

Thanks Ben! Great advice!

[@keemo63301]

I would create a set where every single morgan is a different grade. Would give your collection a full array of dates and conditions. Would be fun to plan it out. Get to work Ben.....Thinking it would have some dupe grades since you would run out.

[@GardenerEarthGuy]

I'd put together an entire collection of CACG Questionable Color Morgans. I'd also try and get Donald In New Mexico to sell his autographed poster of Ben dressed as Elvis to really compliment the collection.

[@donaldinnewmexico]

NFS!

[@GardenerEarthGuy]

@donaldinnewmexico 😂

[@staleydu1]

I’d start with the common dates in 66, all graded by PCGS. Take the savings because those will run 300ish and get the middle 80’s s mints.

[@bunymustard2584]

Great topic. Id love to see what standard coins go for various budgets 👍🏽

[@twojags88]

I'm in a similar position but with a $200 dollar per coin limit. I went after a few MS65/66 coins and then into the more rare and fun coins like the carson city's. Some coins like G6 carson city morgans are cheaper but really hard to find in my area. I have no idea how I'm going to get the 1894-S or 1893-S without a second job at Wendy's, lol. You're spot on with finding a coin that looks good and that I like. I don't care for an ugly MS60 that had a hard life - I'd rather get an AU or XF one. Soooo many choices and so much fun! Cheers

[@SatelliteEngineer]

Good discussion. I tried doing that exact methodology when I started collecting Morgans and failed miserably. Much better to say you want all coins in MS that are less than $1000 and then treat the others one by one. Believe me, you'll end up about $1000 per coin on average and end up with around 72 MS Morgans (if you go for date, mint and a few varieties).

[@mjanovec]

I’d love to see a type set that averages $1000/coin. Some coins would be cheaper and some would cost more. I would find that collection much more visually appealing than 96 Morgans that all look the same.

[@lawrence5039]

However, at a flat rate per coin, as Ben's gray sheet shows, many will be in lesser grades, circulated and probably not much original skin. Colors would be all over the place, including PL Morgans! Whew, a brain twister....

[@link6020]

I would shoot for MS64. Start with the cheapest and roll over the difference into the next coin.

[@BLUE_COLLAR_STACKER]

Great info Ben…..as usual👍🏻👊🏻😎

[@ulexite-tv]

Great topic.

[@TheSteveBoyd]

I'm still trying to get used to the Hogan, brotherrrrrr! 😝

[@RealtorInThe828]

Thanks Ben.

[@davefried]

i personally would cap the grade at 65 and anything i buy at that grade less for less than 1k i would put towards getting a better grade in the more scarce dates.

[@charleswoldenberg4608]

Great subject. Would you please follow up with a similar if different price point for Peace dollars?

[@philipargo]

I'd get the one with the upside-down plane!

[@swEEtcoinsdOOd]

1st understand you are doing a Morgan DATE set. Then Decide if you are going raw or slab. If raw - only purchase in person. If slabbed pick one TPG and stick with it. Mixing slabs is bad. Do your research, Be patient, stick to your budget. Makes collecting very interesting.

[@godzillagold]

Mixing slabs is bad? No, you buy the coin not the holder. You buy the best coin you can within your budget no matter if it's pcgs,anacs, or ngc

[@buyystocks]

I stick with PCGS or NGC

[@swEEtcoinsdOOd]

@@godzillagoldI have done this. Bad, no, but It’s a preference of mine. I buy the best coin in the PCGS lab. Cacg has thrown me but they are still clear and look very similar to ogh. I use the slab binders. When I have different slabs that’s what I notice, not the coins. When all the slabs are the same, the coins are the center my attention. Happy hunting 🤙

[@swEEtcoinsdOOd]

@@buyystocksI think a 28k total budget for a Morgan date set instead on 1k per coin would free you up a bit too✌️

[@jeffkeller9009]

My collecting for the most part has been what's available at the time, Some coins I would not have thought about collecting pop up and I end up with a set. Only after common dates, do I start getting the more key dates

[@donaldinnewmexico]

Hi Ben. I would save up for 20-25 weeks instead of buying weekly and get an 1878CC in MS66 DMPL. *>>-->* 🦉 (I can't follow the rules)

[@Kenlydford]

🤗👍

[@donaldinnewmexico]

*FIRST THUMB UP!* 👍

[@ACE_.]

Start with CC Morgan set

[@Adam-tj4oy]

I’d start by buying flowing hair and draped bust dollars.

[@briank7936]

I would look at another set. Not much of a Morgan fan. I prefer the path less traveled although I do see the appeal of collecting larger coins as I get older and my eyes get worse. Maybe save up my $1k per coin budget and do a gold type set.

[@johnbeast4992]

$1000/coin please don't threaten me with a good time. I would love to be able to do this.

[@mattmatt6572]

Tried to make a purchase signed up n stuff to find out was now option for personal check kinda a bummer.

[@PolarCurrency]

I would sell it and but a National Bank Note from Winslow, AZ or a Fu Manchu.

[@massabesicgoldandsilver]

😂🤣 I love Morgan Dollars Dan!

[@rasbobbo]

I guess the nicest 1878 cc would be where I’d start because that’s where they start.

[@cgcoins3639]

If I had $1,000 per coin to spend... I'd go after the commemorative coins in older slabs with CAC stickers!

[@josevarjas8263]

Un aplauso for your video. Ben the novice geek.

[@chassisresearchkid]

I wouldn't, I'd do pre 33 raw gold coins.

[@_CYB0RG_]

Are we allowed to buy raw coins?

[@michaelp772]

1878-CC: MS63 PL. 1888-S, MS 63 PL

[@donaldinnewmexico]

DMPL

[@michaelp772]

@donaldinnewmexico DMPLs are more expensive, but you might get lucky.

[@StarATL]

I’m a paper currency listener of yours. Could you do the same for paper currency.

[@kevinpoggensee]

Hey Ben

[@alberthanson1971]

I don't like the look of collections where the condition ranges from G to MS 67. I've built my Morgan collection in VF-AU, depending on the visual appeal. Although I have Morgans which are below and above my objective, the eye appeal of my Morgans makes some people drool. There are three Morgans which I will probably never get in a grade which would fit in: 1889-CC, 1893-S, and 1895-P (I realize this is a proof only issue).

[@jrpcoins]

G3 93-s would be first and even then I don’t think it would go for 1000😅

[@mikegrotte3953]

I would buy the most valvable single Morgan, sell it and buy Pre33!

[@JD-fx1mb]

Gray Sheet? Ben do you really sell coins to the average collector at Gray sheet price?

[@chrisbroguiere3593]

The 90s. All of them. Not all the Morgan dollar series will cost you a $1000. So the ones that didn't cost you $1,000 you take that extra money and apply it towards the ones that are going to cost over $1,000. The S mints and O mints will be the most until you TRY and purchase a 95p. Then good luck.

[@richardmetcalf2346]

👍

[@shoeless1137]

I disagree with the philosophy of starting with the big one. Start with the easy ones and develop your eye. If you start with the big one you're likely to jump at one of the first ones you see, and as you develop your set it's not gonna fit your set, or you're gonna realize its not as nice as you thought it was, end up selling it, and then having to find another.

[@_CYB0RG_]

Start with an 1885-CC or the 1881-CC…

[@donaldinnewmexico]

SECOND

[@777Poker]

chocolate milk mustache

[@PaulLorenzini-ny2yw]

I have a 1$ budget per Morgan........probably better stick with pennies eh?

[@Indigone_Demon]

I've somewhat budgeted myself in my own series (Washington quarters). I target whatever grade has less than twenty-five graded in PCGS's pop reports. I'm not shooting for the top pop grades, so hopefully, the values won't be quite so volatile. Typically that puts me in the 67-67+ grade for roughly ~1-1.2k per coin. There's no wrong way to collect. 🫡