Your First Coin Collection: A Beginner’s Guide to Buying and Grading Morgan Dollars with PCGS

Starting Your Coin Collection: My First Morgan Dollar Journey

Let’s begin your collecting adventure together! When I first held a raw Morgan dollar, I had no idea how to judge its quality or value. In this guide, I’ll share exactly how I started my collection – from nervously buying my first coins to submitting them to PCGS for grading. You’ll see real examples from my beginner’s journey and learn what I wish I’d known earlier.

Why Morgan Dollars Are Perfect for New Collectors

A Coin With Character

Morgan dollars tell America’s story through silver. Minted from 1878 to 1904 (and one last time in 1921), these hefty coins feature Lady Liberty on the front and a majestic eagle on the back. What makes them great for beginners? Their large 38.1mm size lets you easily see details. I remember thinking how satisfying they felt in my palm compared to modern coins.

Beginner-Friendly Features

• Plenty available even after all these years
• Straightforward grading rules (perfect for learning)
• Active community always willing to help newcomers
• Clear details that teach you how to spot quality

Coin Grading Made Simple

PCGS: Your Grading Partner

Professional Coin Grading Service (PCGS) became my trusted guide. When I first sent my Morgans to PCGS, I was amazed how experts evaluated them. They check four key areas any beginner can learn:

• Surface condition (look for natural wear)
• That “new coin” shine (called luster)
• How sharply the design was stamped
• Overall eye appeal – does it make you say “wow”?

Cracking the Number Codes

Here’s what those numbers really mean for your coins:

MS61: Solid starter coin with visible marks
MS63: Nice mid-grade (my 1884-CC Morgan looked great here)
MS64: Shows what “premium quality” really means

Finding Your First Morgan Dollars

Where I Found Hidden Treasures

When I built my first set, these spots yielded the best finds:

• Local coin shops: Where I learned to examine coins hands-on
• Coin shows: Perfect for comparing many options side-by-side
• Trusted online dealers: Great selection when you can’t visit shops

My 4-Point Coin Checklist

Use this simple system when evaluating Morgans:

1. Surfaces: Look for natural tarnish, no cleaning marks
2. Details: Check Liberty’s hair and the eagle’s feathers
3. Color: Rainbow tones can be beautiful (and valuable)
4. Marks: Fewer contact marks mean better grades

New Collector Myths Busted

Myth: Always Buy the Highest Grade

My favorite coin is actually an MS61 Morgan. As one collector told me when I was starting: “You got these at 62-63 prices? Great move!” Sometimes lower grades offer the best value – and the most learning potential.

Myth: CAC Stickers Mean Perfect Grades

I learned this lesson with my 1928 Peace dollar. While CAC stickers mark premium coins, they don’t guarantee the grade is “right.” My coin came back with feedback saying it was actually undergraded – proof that even experts debate sometimes!

My First Purchase Breakdown

Why Originality Matters

As a new collector, I prioritized untouched coins. The natural rainbow tones on my 1884-CC Morgan made it stand out, even with some marks. PCGS agreed – it graded beautifully because of its original surfaces.

Learning Through Different Grades

Here’s how my first submission turned out:

• 1 MS61 (my “learning coin”)
• 2 MS63 (still impressive to my new eyes)
• 5 MS64 (these really sparkled)

Having coins of different grades lets you compare and learn faster.

First Steps for New Collectors

Submitting to PCGS Without Stress

When you’re ready to grade your Morgans:

1. Choose common dates first (less pressure)
2. Include various grades to see the differences
3. Budget about $40 per coin
4. Be patient – good grading takes 6-8 weeks

Your First Month Collection Plan

Here’s the exact timeline I followed:

Week 1: Study PCGS photograde examples online
Week 2: Visit local shops to hold real Morgans
Week 3: Buy 2-3 raw coins under $100 each
Week 4: Compare your coins to graded examples

Your Collection Adventure Starts Now

Here’s what I wish I knew when starting:

• Original surfaces beat perfect grades every time
• Handling coins teaches more than any book
• Common coins make the best teachers
• Even experts keep learning – and that’s okay!

The coin community is full of helpful folks who remember their first Morgan dollar. Your journey begins with a single coin – why not make it a Morgan? Grab a magnifying glass and start exploring!

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