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 Replies: 17 / Views: 1,729 |
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Pillar of the Community
United States
1231 Posts |
Interesting conversation with my local coin shop yesterday about this as more common dates get melted. As time goes by and more get melted won't that make it more rare. Of course it would take some time for this to happen. Just a thought.
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Pillar of the Community
 United States
7940 Posts |
By definition, yes if the number of something decreases (due to melting them down) it MUST become more rare.
But that does not necessarily make it more valuable, because value has to do with both supply and demand.
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Moderator
 United States
188439 Posts |
The numismatic value will be what the market says it will be based on collector demand until the melt value overtakes it. At that point, you have the bullion and collector markets competing for the same piece.
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Valued Member
United States
218 Posts |
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Only thing that makes sense in volatile times is actual selling prices! Exactly. Also, just because a stock or commodity jumps nearly 50% in one month doesn't mean that's a sustainable market valuation. |
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Pillar of the Community
United States
6504 Posts |
Common date lower grade silver coins have most of their value in metal. Perhaps the higher grades will simply float on the metal price like cream on milk. I don't know that the PCGS price guide is a good one, as it assumes a graded coin, which is itself an expensive process relative to the metal value of a silver coin. I think Numismedia would be a better guide for circulated common silver coins.
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Moderator
United States
188439 Posts |
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I think Numismedia would be a better guide for circulated common silver coins. It is what I prefer and their prices have been showing "green" (increase) for the lower grade silver.  |
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Pillar of the Community
 United States
612 Posts |
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I think Numismedia would be a better guide for circulated common silver coins. I'm not so sure that they are able to keep up with silver continuing to climb at this rapid pace. Just now looked at their current valuations and there are hundreds of examples of Morgan and Peace dollars in grades all the way up to AU-58 that they are currently showing FMV at $47 to $55, and with current melt value at about $58.50 that doesn't make much sense. That may be all that a dealer will offer you if they are buying junk silver at all, but XF to AU silver dollars aren't junk, and that's certainly not what a nice even common year silver dollar is worth. I suppose that until silver begins to level off, Numismedia as well as PCGs and NGC will all be chasing their tails just trying to keep up. |
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Moderator
United States
188439 Posts |
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MV at $47 to $55, and with current melt value at about $58.50 that doesn't make much sense. I believe it does when you actually try to sell them. The FMV is a calculated market value, not melt value. Yes, melt value can affect the market price, but the actual buyers are offering less and the calculated value reflects that. |
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Pillar of the Community
United States
5671 Posts |
The situation with Morgan dollars seems similar to pre-1933 gold in the past year. As gold prices rose, the numismatic premium on graded gold coins became vanishingly small, so that lower grade mint state gold coins were basically valued as bullion coins. I suspect the same thing is happening with graded Morgan and Peace dollars, so that only higher grade mint state coins (64 or higher) will retain any numismatic premium. |
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Pillar of the Community
United States
3324 Posts |
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I think Numismedia would be a better guide for circulated common silver coins. That is the site I use, keeping in mind that those prices are for graded coins. The base value for Morgan dollars on that site sits at about $51 as of this post but I doubt there are many people selling graded Morgans (at any grade) for $51 at current Ag prices. "Nummi rari mira sunt, si sumptus ferre potes." - Christophorus filius Scotiae
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Valued Member
United States
218 Posts |
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I believe it does when you actually try to sell them. The FMV is a calculated market value, not melt value. Yes, melt value can affect the market price, but the actual buyers are offering less and the calculated value reflects that. Interesting observation. I certainly wouldn't pay a premium for a coin just because AR futures spiked for a day or two (and I wouldn't flinch at paying a premium if AR futures tanked for a few days), but I wasn't sure if that was how modern silver coin collectors viewed things. |
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Moderator
United States
188439 Posts |
At the end of the day, prices guides are just guides. The actual price is what a buyer and seller can agree on at any given moment.
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Pillar of the Community
United States
8750 Posts |
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At the end of the day, prices guides are just guides. The actual price is what a buyer and seller can agree on at any given moment. I agree 100% and until the roller coaster ride is over, I don't see how anyone's guide will be worth anything to go by. -makecents-
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Valued Member
United States
218 Posts |
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I agree 100% and until the roller coaster ride is over, I don't see how anyone's guide will be worth anything to go by. I got a 2026 Re dbook for Christmas. The introduction speaks of coins' bullion values "... in a world of $30 silver and $2,700 gold." A majority of circulated values in the book are already significantly out of date before 2026 has even begun  |
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Moderator
United States
188439 Posts |
Quote:I got a 2026 RedBook for Christmas. Very nice!  Quote:
The introduction speaks of coins' bullion values "... in a world of $30 silver and $2,700 gold."   Quote:
A majority of circulated values in the book are already significantly out of date before 2026 has even begun No worry. The 2027 will be out in April. |
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Replies: 17 / Views: 1,729 |
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Posted 12/28/2025 07:38 am
