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 Replies: 38 / Views: 5,702 |
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Pillar of the Community
 United States
5861 Posts |
Quote:
I just love morgans. Quote:
They sure are pretty to look at! Yeah, that's enough to justify the occasional small purchase. I'm trying to figure out a way to justify (to myself as well as my wife) buying a $100 face value bag, however. It's gonna take more than "ooh... shiny!" to get there, I'm afraid. |
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Pillar of the Community
United States
3343 Posts |
Around here they're about $25 depending on silver's daily moves. They carry extra premium above the rest of US 90%, which is in the $16-18x face range.
What's so attractive about a common coin to command the extra premium? I have a couple Morgans around as curios, but for bulk 90% I prefer near-mint halves. The premium is on the seller's side, and it's all a matter of grams and ounces.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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Pillar of the Community
United States
5861 Posts |
Quote:
Around here they're about $25 depending on silver's daily moves. Are those BU condition or worn? Around here I can't even get worn examples for under $35. |
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Pillar of the Community
United States
3343 Posts |
There were BU Peace in the bucket. I wasn't looking for Morgans, just well-struck Peace. No doubt there were common BU Morgans too. The dealer buys what looks like estate hoards. A lot of it is in tubes, which I was free to pick through. Pricing is daily spot plus a small premium. I'm sure it's picked through for anything of rarity but not for grade. I was really disappointed doing the same thing on ebay. Higher prices and sketchy photos. Caveat emptor definitely. I'd recommend supporting local business if you can. "Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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Valued Member
United States
331 Posts |
I would have to second what Thq said. ebay is a 50/50 shot at best. A good local dealer would be the route to go for bulk. |
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Pillar of the Community
United States
5861 Posts |
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A good local dealer would be the route to go for bulk Yeah, I guess it's just too bad I don't have any "good" dealers near me. The few I know about are still asking $35 for F-VF examples and well over $50 for BU examples. In fact, one guy looks to APMEX to set his prices! |
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Valued Member
United States
477 Posts |
I'm new to this and I admit, I love Morgans too. It was my first coin, an '86 I got back in the 60s.
For me, an again I've only been collecting seriously for 6 months, I like the real pretty ones and since at present funds limit me to common dates/mints I think there will always be somebody that will pay a good premium over spot for common BUs, people like me starting out who want pretty coins but can't swing pretty CCs.
Experienced collectors such as most everybody on this forum know better but newbies just starting out don't. I have a lot of BU Morgans I know I overpaid for by $5 or $10 but I have them and that extra $5 or $10 would just have gone elsewhere, probably for something frivolous, like food.
I believe common BU Morgans will always have a market, as a matter of fact I'm counting on it.
It's probably safe to say none are being destroyed any longer so the supply is stable. But the number of collectors is increasing and that alone will insure there's always be a demand, I hope.
Rick
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Pillar of the Community
United States
3343 Posts |
When I think about coins that I have that have appreciated there are two major categories:
-Bullion coins that have risen with metals. That's why I keep a jar around to throw a few 90% halves in when metals prices drop. I have never picked a mutual fund that worked as well as this....
-Coins that are genuinely scarce, preferably with historical significance. Unfortunately these coins have always commanded a premium, so even though an 1889-cc Morgan has gone up 10x in 20 years, it had to overcome the wholesale - retail difference before you could sell and make money.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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Pillar of the Community
United States
1704 Posts |
I suppose the only common date Morgan dollars worth buying for investment are the MS65 or better in deep mirror prooflike but then you would have to look at the performance of those over the last ten years to see which ones actually appreciated and how much so. If you like the design then buy them to enjoy and let the rest work itself out over time. I don't collect Morgan dollars per se, I buy what I need for my type sets. I do have a Capital Plastics All Mints holder filled with nicely toned coins. I also have two Capital Plastics holders for the Dollars of 1878 which I will eventually fill, one toned and one blast white for contrast just for the heck of it. Ed ANA LM-3175 |
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Valued Member
United States
293 Posts |
Right now the most common Morgans can be in the $50 to $65 range if they are MS-63 and IF and I do mean IF they aren't the same old dipped out lifeless white coins I see all the time on the coin show circuit. These common dates don't have a good investment track record. So when you are buying these you looking to build a set of Morgans with them. Which means each coin needs to be a stand alone coin. The number one thing I tell people on Morgans is DO NOT BUY A CLEANED MORGAN. There's too many of them out there and they are a problem. Your job is to make sure they remain a problem for the other guy. Now most dealers will still buy common date Morgans as just bulk BU. But if you've got a nice MS-63 that has a nice tone to it such as cherry or violet well then you've got something that dealer can sell by date and you will do better at his table. Places I would avoid buying common BU Morgan dollars from would be any large volume mail order house that lists all of their MS Morgans as BU. Professional Dealers will list a grade. MS-62, MS-63, MS-64, MS-65. Cause there can be a big difference in eye appeal. Even common Morgan's the difference in one of those grades is any easy $5 if not $10. Know what you are buying and demand professionalism. |
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Pillar of the Community
United States
3343 Posts |
Yesterday I looked through some raw gold, and the dealer asked if I wanted to see his slabs. Reluctantly I looked at some common date double eagles, while he was telling me that he'd had the same dates/grades through the shop uncounted times. The slab doesn't even increase his premium, though his premium does increase considerably for rarity. Presently gold stocks are good so you can pick and choose, and I'll take rarity over BU any day of the week if rarities are available.
For common BU morgan and peace dates, the major grading service slab counts are in the hundreds of thousands.
Other than for authentication, why spend the money to embalm the coin in plastic? And why pay over bullion for something that's so common, even if it is BU?
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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Pillar of the Community
United States
2936 Posts |
Morgans, to some (and I include me in the "some") have their own attraction - not as an investment necessarily, but as something to muse and study. The world of the VAM is a world unto itself (as SuperDave can attest I'm sure). For those of us whose brains are wired for minutia, there is nothing more satisfying than grinding through a stack of BU Morgans while looking for that "Top 100", "Hot 50", or "Hit List 40" beauty. Who knows, we might even find a new die combo (or VAM) however unlikely. Bottom line, I wouldn't dis the common ole BU Morgan - some of us might resent it!  Edited by paleoguy45
07/19/2013 11:23 am
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Pillar of the Community
United States
919 Posts |
Stopped at two stores Tuesday. Raw BU Morgans were selling for $45-50, and raw BU Peace were $35. Anything XF-AU was $26 Peace and $30 Morgan. Slabbed Morgans were $56 MS63 and $70 MS64 at both shops. I guess I need to take a trip to where dollars are selling for about the same as 90%. I was told 90% is currently selling for 20-25% over spot and they can't keep it in stock.
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Pillar of the Community
United States
1554 Posts |
Yes, BUT, only in higher grades, i.e. MS66-68. Buying in circulated through MS64 will always be tied to Spot Price.
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Valued Member
United States
258 Posts |
I think most of us collect because we like coins (especially those dang Morgans). Some can afford the better ones but it still comes down to we like coins.IMHO
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Replies: 38 / Views: 5,702 |
First Page
Posted 07/17/2013 08:21 am
