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 Replies: 12 / Views: 1,332 |
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New Member
United States
25 Posts |
I have a chance to buy 8 Morgan dollars for 200.00 dollars tomorrow and was wondering if someone can help me out an tell me if it is a good deal or not. The dates are 1885 1889 1889 18911900 1890 1888 1889. Thanks alot. |
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Pillar of the Community
United States
561 Posts |
At $25.00 each that is a great deal in my opinion. Even calculating at melt value you only need silver to be $32.32/oz. to break even and the current silver price is $31-32.
Even if the coins have little to no numismatic value you are getting a fair deal in my opinion.
Edited by Merc Man
04/11/2012 5:09 pm
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Pillar of the Community
United States
759 Posts |
That's a very good deal. I bet most here would love to be able to buy them at $25 each. On ebay, common dates are going for generally $29-$33+, then you have shipping. Just make sure a magnet doesn't stick to them. |
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Pillar of the Community
United States
1554 Posts |
Waste of money unless you are going to make a small profit selling for $30 apiece if you can get that or you collect low grade Morgans, also, they have really no collector value. You are better off buying one nice Morgan dollar for $200 that is graded properly! |
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Pillar of the Community
United States
2049 Posts |
I would buy them all day long at $25/each over buying one for $200. The reason being at $25/each they are at melt roughly and in the "commodity" category versus being a collectible like a single $200 Morgan. Collectibles aren't as liquid in my opinion since collectors are fickle.
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Pillar of the Community
United States
1195 Posts |
So long as they're the real silver McCoy, Take 'em! They'll be the most liquid so if you DO find a nicely graded Morgan as 1893S, or something else that tickles your fancy, they should convert real easy.
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Pillar of the Community
United States
5854 Posts |
Sounds like a good deal. These normally sell for several dollars above melt even for the worn ones.
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Pillar of the Community
United States
1554 Posts |
Well if this were in the Bullion collecting forum I would MAYBE say it's a good deal but being in the Classic US coins I'm assuming the OP is wanting advice on their Numismatic value which there probably is none. If the OP is interested in collecting Classic US coins and is looking to start a nice collection for the years to come then a $200 properly graded coin is a much better purchase. Don't waste money on junk coins unless you can resell for a profit! |
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Pillar of the Community
United States
1770 Posts |
25 bucks a piece is ok usually I dont spend more than 20 a pop for them but 25 isn't to bad
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Pillar of the Community
Canada
4944 Posts |
Quote:
I dont spend more than 20 a pop for them but 25 isn't to bad And where are you buying Morgans for under $20 each?  |
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Bedrock of the Community
United States
10982 Posts |
Those are all common dates that are worth at least $25/ea unless they are worn slick or heavily damaged
If they are in good shape, they could be worth more, much more.
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Pillar of the Community
United States
759 Posts |
OK, how about this...if you like Morgans and/or want a bullion purchase, go for it. It's a price you'll find hard to beat if silver remains at its current level.
I would contend that common date, non-slick, undamaged Morgans do have numismatic value. Maybe it's only $2-$3 each, but that's what average prices would suggest.
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Pillar of the Community
United States
3184 Posts |
It's a good deal as long as they are real and not worn beat up slicks
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Replies: 12 / Views: 1,332 |
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Posted 04/11/2012 5:03 pm
