Morgan Dollars for 12.95??? What's the deal??? Scam??? Please help
Bandit
section there is an ad for Morgan Silver Dollars for $12.95 (plus 7.95
for shipping per order). The seller is New World Rarities
(www.nwrarities.com) and the ad states that these coins are 'Fine to
Very Fine Condition'. The ad also states that they 'aquired 4375 legal
tender Morgan Dollars from bank vaults'.
I picked up my copy of Coin Values and the cheapest Morgan in there was
$12 and that was for a G4.
Does anyone have any experience with this group and does it sound like
a good deal?
Thanks
Bandit
Jerry Dennis
In a word, RIPOFF! Any ads like that are usually for common date,
heavily worn and other "defect" coins (heavy bag marks, cleaned, etc.).
Look at the S&H. $7.95 to mail a single silver dollar? That's like
the ebay sellers that offer "good deals" and make it up in the S&H
department. Visit your local coin shop. You'll feel a lot better.
:-)
Jerry
linxlvr
If you go to a decent dealer, he should have at least one coffee can full
of 10.00 Morgans. Pick out your favorites, meet other collectors, No S&H.
And no, I'm not a dealer. :-)
-
dw
Wasdin, Jake E.
shape, but those are the only morgan dollars I have. ;)
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Fjord
> section there is an ad for Morgan Silver Dollars for $12.95 (plus
7.95
> for shipping per order).
[..]
> ad states that these coins are 'Fine to Very Fine Condition'
I wouln't bite. You can get common date morgans for not much more in
some form of mint state. A 1921 morgan in MS-60 lists for $21 in the
redbook - same as your price incl. shipping. The dealer has a "moral
hazard" because you are buying the coins sight unseen. The dealer
benefits by sending you coins of common dates in barely fine (or worse,
VG with fine details) since you can't pick and choose.
Go to a coin shop and pick out morgans that catch your eye. Why, I
bought an lovely 1883 O morgan in near mint state (i say AU, dealer
said MS) for $30 on saturday. Why save $9 to buy a pig in a poke that
you already know will be in lower grade?
I may have "overpaid" but I ended up with a lovely coin for the type
set. I see two light marks on the obverse field, some rub above
liberty's brow and the hair; some rub on the eagle's breast.
Heck, the 1883O in Very Fine is only $16 in the redbook, which is $5
less than you'd pay for the NW rarities coin.
--
Fjord
Wes Chormicle
"If you see it advertised on TV, radio, newspaper, magazine or in the mail,
RUN away from it." I also add that seldom are these "deals" worth half of
what they charge.
$21 is a lot for what you'd get, probably a cleaned 1921 Morgan in VG at
best. In our shop we have a whole tray of Morgan dollars at $12, or 3 or
more for $10 each. I've also got the $6 can of "lesser grade" Morgan
dollars.
Go to your local shop and develope a relationship eith the dealer, it will
pay off many times in the long run.
Wes
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Jonathan_ATC
news:1116135530....@f14g2000cwb.googlegroups.com...
Read the fine print. They probably sign you up to "club" of sorts where
they send you loads of crappy coins on approval. Littleton does this with
SAE's. You get a nice coin for next to nothing, then they send you loads of
crap that you have to pay to return. Before you get the order returned,
they send you another order. Older people, who still read the newspaper,
usually fall for this and end up keeping and paying for the crappy coins due
to the fact that they don't know they can return them. Stamp companies do
the same thing. So in a word, YES, you get a nice coin to begin with. You
get headaches from there on out.
--
Jonathan