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Average Cost Of Junk Morgan And Peace Dollars Going Back To The 70s

 
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Valued Member
United States
171 Posts
 Posted 10/11/2019  7:58 pm Show Profile   Bookmark this topic Add Captain Jack to your friends list Get a Link to this Message
It's been a while since I've been here, but I'm back.... anyways I'm young, having been born in 1986... are there any collectors here that have been alive longer and / or in the coin collecting business that could remember average prices for junk morgans or Peace dollars going back to the 1970s? I know there was the 1980s silver run up and I'm not interested in that but would like to know generally if the silver dollars were $5 or so in the 70s, maybe $5--$10 after the silver run up of the 80s,, etc. Just trying to see how the coins have averaged over time. Also, over the next 30 years, do you think they'll appreciate in value and be worth twice or three times what they are now? (Average cost for a morgan on ebay is $19, and $17 for a peace). Just trying to figure out if it's wise to say have a ton of junk silver dollars for retirement in 30 years and sell them off slowly to help pad other retirement things, etc.
Pillar of the Community
United States
561 Posts
 Posted 10/11/2019  8:13 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
I can get common Peace and Morgans for around $16, a little over melt. My believe and it has nothing to do with facts or anything else is that most common Peace and Morgans will sell for a little over the value of Silver. My dad had a few Peace dollars in the 70's and they cost again a little over melt.

So as to your question, if the price of silver goes up the Peace/Morgan dollar will go up. If you want investment advice, max out your 401K diversify your investments something like 50% S&P 500, 20% bonds, 10% international and 20% fixed. Make sure the investments are all low cost. You can be a millionaire by 50. Buy coins for the look/love/history not as an investment.

I work in finance and I followed the above , I don't buy shares (not allowed due to insider trading restrictions) and I only get low cost mutual funds. No managed fund that I have access through my employer has beaten the S&P 500 over a 20 year time span.
Edited by hfjacinto
10/12/2019 12:42 pm
Pillar of the Community
United States
1504 Posts
 Posted 10/11/2019  8:55 pm  Show Profile   Bookmark this reply Add Bump111 to your friends list Get a Link to this Reply

Quote:
. No managed fund has beaten the S&P 500 over a 20 year time span.


But nearly all the blue chip funds have outpaced it since the Great Recession began in '08.

I don't think silver will ever be a great hedge against inflation. As has already been said, enjoy the hobby for the fun and invest elsewhere unless you can play top pop with the thick wallets.
Pillar of the Community
United States
561 Posts
 Posted 10/11/2019  9:43 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply

Quote:


But nearly all the blue chip funds have outpaced it since the Great Recession began in '08.


One can cherry pick dates. And yes you are correct most blue chips have produced higher returns since the Great Recession (11 years not 20 as I posted)but past performance is no guarantee of future performance. Over its life the SP 500 has done better than almost every investment out there :)

I'm not saying bullion doesn't have a place as a speculative investment, buy low and sell when rising as you won't know when it will peak :) but most of all enjoy your coins. They are an asset you can touch and fell (be careful there also though, don't want fingerprints on your coins )
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United States
4303 Posts
 Posted 10/11/2019  9:44 pm  Show Profile   Bookmark this reply Add kanga to your friends list Get a Link to this Reply

Quote:
I can get common Peace and Morgans for around $16, a little over melt.

Maybe I'm missing something but isn't "a little over melt" more like $14?
Or maybe my idea of "a little" is different than yours.
Describe it as if there were no picture.
Picture it as if there were no description.
Pillar of the Community
United States
561 Posts
 Posted 10/11/2019  10:00 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
$2 is a little over melt. I get ASE for $3 over melt. I doubt any LCS will sell the Peace dollars for $14, considering most probably buy for $13-14.

If you can get them at $14 let me know I'll buy them. These were $17, they are AU commons.




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United States
1366 Posts
 Posted 10/12/2019  01:13 am  Show Profile   Bookmark this reply Add jmkendall to your friends list Get a Link to this Reply
I remember in the 60s you could still get them for face value when I lived in Nevada. They started to dry up at the casino's by the early 70s, but you could still by common circs for under $5. With the run up in 80 they, of course skyrocketed. But in the aftermath, I remember buying them from a bullion dealer for $4 each, for quite a few years. In the late 90s and early 2000's you could by common circs for about $6 or $7, and unc's for $10 to $15.
Pillar of the Community
United States
671 Posts
 Posted 10/12/2019  01:32 am  Show Profile   Bookmark this reply Add chipjones to your friends list Get a Link to this Reply
I just sold 10 today got 15.00 each
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United States
561 Posts
 Posted 10/12/2019  08:00 am  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply

Quote:
I just sold 10 today got 15.00 each


Chip at a LCS or online? $15 is a good price, I don't have circulated Peace dollars, the LCS will give me $14-$17 depending on condition for common dates. I've been thinking of picking up a few just in case silver goes up.
Bedrock of the Community
Australia
16014 Posts
 Posted 10/12/2019  08:26 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
There are several sites to search, in relation to the 50 year silver price history, from 1970.

The junk silver price for .900 fine Morgan and Peace dollars would closely track the pure silver price history.

Now is the time to do your own research, and a small amount of math homework (.7734 ASW in each coin, and consider the buy / sell rates, which would not change much in proportion to the ASW):

Search:
'50 year silver price history chart'.

------------------------------------------------------------------------------------------------------------------------------------------------------

Two of the main drivers of the silver price:

One of the main drivers of the silver price is the ruling World political climate. Trying to predict World political history over the next 30 years is impossible.

Another driver of silver prices is the variation in industrial demand for silver, cognisant of changes in future technological development.

Sorry, I can't predict either of those with any exactitude.

Nevertheless, even I have had some investment / speculation gambling fun with junk silver, over about a 40 year period. A professional investment advisor has suggested that some investment in real bullion is OK, but never more than 5% of your total investment assets, which can be included in a superannuation investment portfolio
Edited by sel_69l
10/12/2019 08:48 am
Pillar of the Community
United States
2421 Posts
 Posted 10/12/2019  10:12 am  Show Profile   Bookmark this reply Add Slider23 to your friends list Get a Link to this Reply
In the early 70's Reno and Vegas were still using silver dollars for their slot machines. I remember in the early 70's trying to find better and key dates in Reno, but there were only common dates. I did find a couple of CC's but at the time the coins were not worth collecting because of poor condition. Vegas and Reno could not get and keep enough silver dollars for their slot needs because people were taking the coins out the door and they went to dollar tokens. Into the early 80's they did have some select slot machines that still paid in silver dollars.
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United States
3383 Posts
 Posted 10/12/2019  12:12 pm  Show Profile   Bookmark this reply Add KenKat to your friends list Get a Link to this Reply
This link gives retail prices going back to 1950 for Morgans:

https://www.us-coin-values-advisor....-values.html


Quote:
. No managed fund has beaten the S&P 500 over a 20 year time span.


I am all about low-cost investing (specifically Vanguard funds), including index funds, but as someone who owns both managed and index funds, this is not correct. Just speaking strictly for funds I actually own, I have at least two:

Baron Growth
Vanguard Primecap

I have owned both 20+ years:

https://www.portfoliovisualizer.com...0&total3=100


Quote:
max out your 401K diversify your investments something like 50% S&P 500, 20% bonds, 10% international and 20% fixed. Make sure the investments are all low cost.


This is really good advice...
Edited by KenKat
10/12/2019 12:20 pm
Pillar of the Community
United States
561 Posts
 Posted 10/12/2019  12:40 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply

Quote:
I am all about low-cost investing (specifically Vanguard funds), including index funds, but as someone who owns both managed and index funds, this is not correct. Just speaking strictly for funds I actually own, I have at least two:

Baron Growth
Vanguard Primecap

I have owned both 20+ yea


I did not know that. I should have phrased it differently then.

No managed fund (that I have access to) has beaten the S&P 500 over a 20 year time span.

I was only talking about the funds that I can access through my employer.
Pillar of the Community
United States
3383 Posts
 Posted 10/12/2019  1:24 pm  Show Profile   Bookmark this reply Add KenKat to your friends list Get a Link to this Reply
Hopefully you have access to a good S&P 500 fund at least because with that, while you may not finish first, you are pretty much guaranteed to be near the top of the leader board.
Pillar of the Community
United States
561 Posts
 Posted 10/12/2019  1:51 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
Ken my average rate of return has been around 10% (9.7... something going from memory) for the last 20 years. Best was 24.2% in 1 year, worst was 1.6% in the Great Recession. I diversify like I said above. I once checked and in 43 quarters only lost value 5 quarters. I can check my records for an accurate number.

I'm restricted from open trading (Chinese wall policy) and any trades need to be precleared so I only invest in low cost mutual funds.
Pillar of the Community
United States
3383 Posts
 Posted 10/12/2019  2:20 pm  Show Profile   Bookmark this reply Add KenKat to your friends list Get a Link to this Reply
Sounds like you are doing great!
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