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 Replies: 11 / Views: 1,322 |
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Pillar of the Community
Canada
2805 Posts |
My LCS (oh no, I'm using elitist-sounding acronyms! someone stop me! I'm becoming one of those collectors!) has a nice binder of Morgans. The cheapest are VF-30 ones in 2x2s from random dates (I think all the worse grade ones are kept loose and get bought out by silver hoarders) for $32. I have a hunch that some of these are those rare finds that have sat in a box for a few years while the value of their metal content climbed, because even APMEX looks to be selling theirs at that grade level for more. Are these a good buy, or am I not looking hard enough? Are Morgans harder to find in Canada? They're not 1921 issues, either. |
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Pillar of the Community
United States
5854 Posts |
Sounds like a fair price. Common average circulated morgans go for about that on ebay and at the local shows that I frequent. |
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Bedrock of the Community
United States
10982 Posts |
That's a good price for good coins. It is not a good price for harshly cleaned, damaged, or holed coins.
For pre-1921 Morgans that are problem-free and VF30? 32USD is below retail.
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Rest in Peace
United States
4078 Posts |
Quote:
My LCS (oh no, I'm using elitist-sounding acronyms! someone stop me! I'm becoming one of those collectors!  No! Just a CCFer.  For $32 good buy. |
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Pillar of the Community
United States
1211 Posts |
Most people are buyers at the $30 mark.
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Pillar of the Community
United States
1721 Posts |
There is a dealer that sets up at one of the small outdoor markets and he displays his loose Morgans for 32 dollars each (common dates). Most of the time they are fine - xf, but sometimes he'll toss in an MS grade. Those are no-brainers and I'll scoop those up when I see them.
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Pillar of the Community
 Canada
2805 Posts |
I went back and looked really thoroughly at the Morgan selection, especially the unfiled 2x2 box. Bingo! VF-30 188... um, I forget the exact date, but it doesn't even matter because it was priced at an incredible $25. I wish I could have bought it today but I didn't bring any money, so I asked them to put it on hold until after spring break. I'm glad there's no ambiguity on whether this is a good price on this one - this is cheaper than you can buy holed Morgans from APMEX... |
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Pillar of the Community
Canada
2805 Posts |
Today I found another $25 Morgan at a flea market of all places (aka the death of fair prices). It was a crappy 1921, but still below melt. I wonder why these are so underpriced? Maybe Canadian dealers think they have .6 ounces of silver in them like our dollars did? I didn't buy it, though, because it wasn't very nice and I wouldn't want to just immediately turn it around for melt.
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Bedrock of the Community
United States
10982 Posts |
Quote:
Today I found another $25 Morgan at a flea market of all places (aka the death of fair prices). It was a crappy 1921, but still below melt. I wonder why these are so underpriced? Maybe Canadian dealers think they have .6 ounces of silver in them like our dollars did? I didn't buy it, though, because it wasn't very nice and I wouldn't want to just immediately turn it around for melt.
Just an FYI: $22.16 is melt on U.S. silver dollars. They have 0.7734 troy ounces of silver in them. A crappy 1921 Morgan is worth about $25 today. |
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Pillar of the Community
Canada
2805 Posts |
Ahh, I was basing it off of APMEX's buy prices for various grades of Morgans, not actual melt value. |
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Moderator
 United States
16679 Posts |
Even when silver hit the $48 mark, my local dealer was @ 26X face.
swcoin.ecrater.com
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Pillar of the Community
Canada
2805 Posts |
I just thought it was weird that their crap Canadian silver dollars were $40 (!) while their crap Morgan was $25. Seemed weird considering all their other markup.
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Replies: 11 / Views: 1,322 |
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Posted 03/20/2013 11:42 pm
