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As a fairly new collector of morgans, I've bought quite a few recently.  I've found a couple scams I'd like to warn other new collectors about.

Morgans can be affordable for people with all budgets, but there a whole lot of sellers here are taking advantage of new, and less knowledgeable collectors (me included).  If you see a "slabbed" morgan graded MS67 for under $100.....steer clear!  MS67 morgans are about as rare as two headed calves ( a few, but not many), and when you DO find one...expect to take out a loan to buy it.  Many sellers slab and "grade" their own coins, or  sell less than reputable graded coins.  Some of the lower companies SEVERELY over grade their coins.  The top 3 coin grading companies to trust...in order are PCGS,NGC and ANACS.  Most others make their money by over grading coins for mass sellers....the worst common graders being NGS, AGI, INB....They will slap a MS67 on a coin with scratches, gouges and booger remnants. Knowledgeable collectors regard these coins as "junk".  Don't ever expect to make a profit off these coins.   PCGS, NGC and ANACS coins can be bought at reasonable rates in lower mint states, and upgrading as you can afford is half the fun of collecting.

Beware sellers who hawk old, worn out coins as "well toned !" or "fantastic rainbow toned!".  REAL toned, good quality coins DO bring a premium, but many sellers here have resorted to taking $9 coins and spraying them with fake tone, and rubbing off the excess, or artificially toning coins through various sleazy methods which include: Putting a dollar in a potato and baking it, blowing cigar smoke onto the coin, or leaving it in the window sill. These coins can are  almost worthless,and can be spotted a mile away by a reputable grading service. Fake toning is most prevalent on poorer grade coins, The fake toning helps whatever worn out features are left stand out by contrast. The only "toned" coins I trust from eBay anymore, are coins graded by NGC or PCGS .....I personally have bought at least 6 coins that were artificially toned, the worst being a coin that was painted with black paint and rubbed.  The sellers of the mentioned coins had 100% feedback, because they deal ONLY in lower cost coins, therefore targeting new and un-knowledgeable collectors.  Don't become a source of income for these cheats. No matter what the "tone", a junk coin is a junk coin. 

One point I can't stress enough, is that IF YOU DO get conned into buying an obviosly fake toned coin, or a SEVERELY over graded coin...SAY SO in your feedback for that item...it's all a lot of other buyers have to go by.  Many sellers will "try to make it right" when caught selling junk...FINE, but don't be shy in your feedback.  Just because a seller offers your money back for selling a fraudulant coin does not make it right.  That's just a case of getting caught and trying to squirm out of it.  I personally don't buy the line of "I'm not a professional grader so you be the judge line"....a poor photograph is not always suffcient to spot fraud, and some of these dealers sell thousands of coins a year, and if they don't know when they are cheating someone, they SHOULD.  I know there are differing opinions on what coin is in what condition...but to say "RARE-well toned beauty" when describing a junk coin that has been painted....that's just wrong.

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