Sunday, February 14, 2016

Coin collectors are often coin sellers by necessity

I said goodbye to one of my favorite old coins today, in order to help fund my coin collection.

I stopped by Coins & Collectibles at the Empire Mall in Sioux Falls, SD. It was an emotional time. I had decided to part ways with my 1903-O Morgan dollar and a 1882-CC Morgan, as well.

They offered me $280.00 for both which, given their condition, was shockingly close to my best case scenario estimate of $300.00. The lesson to be learned from this, Coins & Collectibles appreciates harder to find coins. In my case, the 1903-O was a rarer date and the 1882-CC was a borderline scarcity, as all Carson City Morgans are.

So, why was this an emotional time? The 1903-O had been the star of my collection for years. While not overly valuable, it was the best my little hoard had to offer. I loved that coin. However, the 20th Century Type Set is constantly whispering, "Complete me." I came to the conclusion that I had to cash in my old favorite.

As the man behind the counter (I forgot to ask his name because my head was spinning) examined my dollars, I watched with a quiet ache buzzing in my gut. It was like attending a funeral.

With $280.00 cash in hand, I began to peruse the store's wares, determined to fill at least one hole in my album. I asked to see a nice looking 1938-D Buffalo Nickel, 2 1943 Mercury Dimes, and a 1945-D Silver Jefferson Nickel. As an afterthought, I also asked to see a 2014 Silver Eagle.

I left the store with these:
Again, sorry for the low-quality photo. My phone is crap. I have plans to use a digital camera to get some good images of my type set once it is complete. Knowing me though, I will probably do it sooner than that.
The coins above cost me $85.00 total with a bulk of that ($55.00) going to the Buffalo. But look at it! I couldn't see any sign of wear and it is strongly struck. I already love this coin as much as, if not more than, my 1903-O Morgan. I've always wanted a mint state Buffalo. And the best part, I still have $195.00 left over. Which is a good thing because I found out there will be a coin show in Sioux Falls in April on a weekend where I was going to be in town anyway. (Going to see Jeff Dunham!!!)
Because of this lucky coincidence, a plan is forming. I will sell off some of my hoard coins (what's left after my last big sell-off seven years ago plus a few pointless purchases) and stash that cash away for coin show time. The goal is to get three nice coins at the show: Barber Dime, Barber Quarter, and Barber Half.
I'm drooling just thinking about it.

No comments: