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Any Insights Or Opinions About This Silver Dollar Buying Frenzy?

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Canada
8414 Posts
 Posted 05/09/2021  7:12 pm  Show Profile   Bookmark this reply Add DBM to your friends list Get a Link to this Reply
"Dipping" is not considered cleaning...
-from PCGS website
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United States
197 Posts
 Posted 05/09/2021  7:20 pm  Show Profile   Check VestigeWolf's eBay Listings Bookmark this reply Add VestigeWolf to your friends list Get a Link to this Reply
I have some Barber quarters and Franklin halves on eBay and they are not going very far. Perhaps it is perspective and people think the bigger the better? I don't know, but there is a whole bunch of greed running around with the perfect excuse.
Discovering the truth does not have all the answers.
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Canada
3914 Posts
 Posted 05/09/2021  10:34 pm  Show Profile   Check Pacificoin's eBay Listings Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
Gordon Gekko ..
" Greed is Good"
Anyone with excess cash right now is licking
their chops ..............yummy!!
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United States
4751 Posts
 Posted 05/09/2021  10:37 pm  Show Profile   Bookmark this reply Add tdziemia to your friends list Get a Link to this Reply
I am thinking anyone with excess cash might have missed the boat
I mean, the market is up more than 10% since beginning of the year.
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Canada
224 Posts
 Posted 05/10/2021  01:34 am  Show Profile   Bookmark this reply Add cdngmt to your friends list Get a Link to this Reply
Just to throw fuel on the fire....
they are projecting lumber prices to take 2-3 years to be back in balance....with all the cash running floating around (and the coming tax increases) , the higher cost facing all businesses dealing with Covid and lockdowns on one side, and the rise of service costs like contractors who are over their heads in business, and the boom in housing aside from the run up in mineral prices......aren't we more likely looking at cost push inflation a la 1970's (when interest rates hit 20%?
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United States
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 Posted 05/10/2021  08:16 am  Show Profile   Check VestigeWolf's eBay Listings Bookmark this reply Add VestigeWolf to your friends list Get a Link to this Reply
I don't think it is any kind of inflation. It is just good old fashioned greed and companies taking advantage of continued renewed demand. Lumber production was effected by Covid only in the sense of reduced demand due to lockdown. Now demand has started again, and they are not producing as in the past. What happened to all the lumber sitting on train cars and in warehouses around the country? I can't wait to see what gas will do after the breach of security. Demand is the same, but supply is reduced. However, the supply is still there, just not available. Taking advantage of us! I wish all Americans would not buy gas for just one day or any other item. That would be interesting.
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United States
1786 Posts
 Posted 05/10/2021  11:34 am  Show Profile   Bookmark this reply Add kbbpll to your friends list Get a Link to this Reply
Nobody has mentioned that the best you can do at a bank is .40-.50%. There's nothing you can do with money right now except spend it. In addition to the coins, lumber, condos examples, I'll add used cars. Had to buy one for my kid, and discovered that the competition for a decent used car right now is stiff! They're flying off the dealer lots as soon as they come in.
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Australia
18524 Posts
 Posted 05/10/2021  6:32 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
If prices are too high, I for one,
won't be joining in the buying fenzy.

Which is a pity.
I am looking forward to attending my first coins show in 18 months. I will have a cash budget, as I always do.
Looks like I will be going back home with most of my cash.
That's not good for the dealers, if they can't sell.
Loose / loose.
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Canada
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 Posted 05/10/2021  9:56 pm  Show Profile   Check Pacificoin's eBay Listings Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
Trouble is SEL ,
Most dealers are sitting on bucket loads of cash
and cannot find fresh material to buy .
When fresh gear is available there are
lots of buyers willing to pay ever increasing prices .
Even auctions are bringing nutty results .
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Australia
18524 Posts
 Posted 05/11/2021  07:47 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
I kind of get that.
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United States
4246 Posts
 Posted 05/11/2021  09:01 am  Show Profile   Bookmark this reply Add fenton to your friends list Get a Link to this Reply
There are asset bubbles everywhere due, mostly, to a sense of relief that the country is exiting the COVID pandemic. The stimulus money isn't hurting, either. Add the 100 year anniversary of the Peace dollar introduction and you have the perfect storm for a silver dollar frenzy. Either sit it out or join in! I'm at a point where if I see a great coin I just buy it because I'm in it more for the love of the hobby than a financial profit.
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United States
37 Posts
 Posted 05/11/2021  9:37 pm  Show Profile   Bookmark this reply Add coinnewcomer1 to your friends list Get a Link to this Reply
Fenton is spot on. I share his attitude too about buying coins. Yes I bought the 2021 Silver Proof Set at the US Mint price. But I know I will likely NOT get my money back on this investment (maybe my heirs will plus a little more, the mintages of silver proof sets for the past 10 years has been at levels comparable to the mid and late 1950's). Hey I bought some Peace dollars too --- I always loved the design and the upcoming commemorative did motivate me. Right now Unc common dates are running about $50, better date XFs about the same price and scarce dates have maintained their healthy premium. Price on Morgans and Peace dollars have all increased along with ASEs. Walking Liberty half dollars are healthy but not as overheated as the Morgans, Peace and ASE dollars from my experience. Franklins, Barbers, and silver Kennedys seem unchanged and I think the best deals are the Franklins. Barbers already carries some hefty costs on quite a few years and finding one in great shape will cost you (consistently extensive coin roll searches may get you every rare while a well-circulated Barber).

Getting the Peace dollars for me was a little of a greater financial detour than I intended but at least I have a presentable 1928 Philly Peace dollar in my collection and plan to leave Peace dollars (in total I got three a BU 1923, high XF 1934, and a VF (lightly cleaned) 1928) for quite awhile and resume my ongoing long-term collecting goals. ONe of my more ambitious ones for my budget is get one of the late Type 3 Gold dollar coins, and over the next few years a long short set of Walking Libs with a few of the more affordable years before 1934 thrown in.

I mention all this to illustrate that collecting coins is never a straight line and one has to adjust for detours. The hard part is to not let these detours undermine your long-term strategies. So the price rises for some silver dollars is temporary and it will calm down --- as was mentioned those who received the extra assistance during COVID used a little toward purchasing collectibles.
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United States
2996 Posts
 Posted 05/12/2021  11:18 am  Show Profile   Bookmark this reply Add Slider23 to your friends list Get a Link to this Reply
If we go back a year, silver was trading around $15 and ounce. Over the last 8 months silver has been trading between $23 and $28 an ounce. The increase in Gold and silver prices has created interest on stacking or collecting Morgan's. In general the entire coin market has been going up in prices. Your price target for buying Morgan's is in the hot spot of increased interest in silver dollars. It may be a good time to sell some on the low end Morgan's where there has been a large percentage price increase and buy some higher end Morgan's where the percentage of price increase is less.
Edited by Slider23
05/12/2021 8:58 pm
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United States
116 Posts
 Posted 05/12/2021  5:49 pm  Show Profile   Bookmark this reply Add newguy22 to your friends list Get a Link to this Reply
My thoughts on the matter is that people who normally do not buy morgans/peace dollars are the main contributors to the rising in prices of these coins. Culls for example, were going for much much cheaper than $25 in 2019. I remember buying culls for prices around $17-$20 around that time. I think during the market crash and general worry that came around after covid pushed a lot of people into looking into precious metals as an option for their investment portfolios. This is why it seems to me that so many people are buying these coins at prices ranging from $30-$40. It's not long time collectors who are contributing to this price hike, but people who are new to coin collecting / precious metal investing.
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United States
514 Posts
 Posted 05/17/2021  11:23 am  Show Profile   Bookmark this reply Add KauaiHawaiiGuy to your friends list Get a Link to this Reply
I just read this article and it looks like this collectable frenzy is not limited to coins.

https://bleediNGCool.com/games/targ...4th-forward/
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