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 Replies: 20 / Views: 2,629 |
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Valued Member
 United States
155 Posts |
coin chaser I think silver prices are helping a lot of coin shops. There was a canadian man in the shop at the same time as me and he walked right to the morgans I had on the counter and inquired about the silver content. I told him as the attendant did not know (this is a jewelry store that happens to have a nice silver coin selection). He bought 10 Morgans at $30 a piece. One of them was worn nearly smooth on the obverse. He then turned to me and said, "what are these called?" and then after I told him they are called Morgan dollars, he asked, "why do they call them Morgan dollars?" Back to my point, silver is selling and helping shops make rent for sure. |
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Valued Member
United States
91 Posts |
I'm not sure if I like that story or not...
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Pillar of the Community
United States
594 Posts |
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Pillar of the Community
United States
1510 Posts |
dont feel bad I saw a 90 percent silver commemrative for $45!
Retired USAF 1983-2003
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Pillar of the Community
United States
594 Posts |
Was just looking at the new Medal of Honor Commemorative silver dollar. It's 90% and the Mint wants an introductory price of $49.95 for the uncirculated and $54.95 for the proof. And the price goes up March 29th.
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Pillar of the Community
United States
4901 Posts |
The will always be a difference in issue price between a commemorative issue coin (90% silver)and a bullion coin (99% silver)...apples and oranges. It would not be prudent to buy the former because of its' silver content. It is a collectible... The gray area occurs when there is a limited mintage bullion coin a.k.a. 1996 ASE or the 2010 ATB 5 ounce beasts. SO a purely bullion issue becomes a collectible issue |
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Valued Member
United States
307 Posts |
 However silver eagles have value differentials due to the amount minted. Bullion value is tied to the spot price. On the other hand some new buyers are looking at silver value of commems since most other coins minted do not have the silver content as a hedge. |
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Pillar of the Community
United States
594 Posts |
Quote:The gray area occurs when there is a limited mintage bullion coin a.k.a. 1996 ASE or the 2010 ATB 5 ounce beasts. SO a purely bullion issue becomes a collectible issue So then the low end Mercury dimes have become bullion? And that's why they are selling for above melt, instead of the numismatic value? Quote:
It would not be prudent to buy the former because of its' silver content. It is a collectible That's why I'm not buying the Mercury dimes. |
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Valued Member
United States
307 Posts |
 Sad to say all low end silver coins have become bullion grade. Some have never been worth what they are now. People are watching silver with their finger on the trigger.  |
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Pillar of the Community
United States
4901 Posts |
A coin does not "become" bullion. If you read my comment it pertains to bullion (ASE/ATB pucks).
A coin may be worth just the silver it contains but it is still a numismatic issue. What something is worth does not change what it actually is.
A lot of the low grade early issue silver dimes, quarters, half dollars, and silver dollars are only worth their intrinsic value but that doesn't make them less collectible...
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Pillar of the Community
United States
2424 Posts |
unless you start collecting very high grade ms65+ common 90%, lower grade 90% is selling right at spot or as some would say bullion.. but you cannot change what the coins is unless melted.
buying key date coins in great condition is what the guy at my coin shop told me a lot of people are doing now. he said those key dates will continue to appreciate
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Valued Member
United States
155 Posts |
Hey SDcoinguy I hear that advice a lot. I have even heard it
a few times here on the forum. I honestly could not agree more.
I get a rush when buying silver as investment but do not enjoy
the purchases as much as I do when I pick up an eye appealing
higher grade coin for my collection. The higher grade coins provide much more
enjoyment for me personally.
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Valued Member
United States
307 Posts |
Right on. You have the opportunity to sell your low grade silver coins for quality collectibles. Good thinking SD.
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Valued Member
United States
155 Posts |
Oh man coin chaser I was just thinking the same thing.
But my problem is that I cannot seem to bring myself to
sell my low grade morgans. I could sell the lower grade ones
that I own and probably be able to afford at most 3 high grade ones
with only one of which being a semi key date. SO, that begs the question,
for the guys and gals of the CCF. Quality or Quantity? haha I am at a cross roads with
my coin collection. I could pare down and have a small but quality collection but the hobby
table that I built to house it would be frighteningly empty. Oh well, that's my current dilemma.
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Valued Member
United States
307 Posts |
Tim We all have the same problem. Our coins become family. I look at some of my older coins and even though my memory is not real good I remember when I got them. There is a story behind each one. You will have time to decide what you want to do. No need to rush silver will continue to rise and those Morgans will soon get you a prize. LOL
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Posted 02/25/2011 9:44 pm
