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 Replies: 9 / Views: 1,230 |
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Pillar of the Community
United States
2600 Posts |
I attend about four different auction and a lot of the same people attend them all. For no rhyme or reason, the run of the mill Morgan and Peace dollars seem to sell for some drastically varying prices. At one auction a hand full of 1921 VG Morgans sold for an avg of about $24.00 plus buyers fee of 10%. The last auction, I swept up 18 Morgans and afew Peace dollars for $11.00 ea and no buyers fee. I do not understand these big swings, but more importantly, what are these stacks of plain Jane silver dollars really worth. I figure spot plus a little bit more. However, if people are starting to hoard them, like me, them maybe they are worth $20 a pop. Any thoughts? Jim  |
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Pillar of the Community
United States
954 Posts |
If you get 2 guys bidding agaist each other, the prices are going to be high...  Common date, circulated dollars are worth a bit above spot. $11 sounds fair with silver at around $13.  |
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Moderator
 United States
23522 Posts |
Do these auctions have prior inspection of the coins? Another possibility is that there are VAM's among them you're not aware of. 99% of the time, though, it's Auction Fever. |
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Pillar of the Community
United States
2540 Posts |
Anytime that you have more than one person bidding the prices can go crazy.
Auction fever strikes!
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Pillar Of The Community
3147 Posts |
In many auctions, especially estate auctions, family members wishing to keep the coins in the family will pay outrageous prices to do so. I saw worn out Barber quarters sell for $170 per roll in the last year. Had the opportunity to inspect them before the auction and just knew I was going to get them as they were not worth much! Needless to say ALL the coins in that auction, including circulated Kennedy half dollars at $70 bucks per roll, was off the charts. |
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Pillar of the Community
 United States
2600 Posts |
Thx guys, these tend to be my sentiments, too. I still wonder about this facination going on with Morgans, though. Jim
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Pillar of the Community
United States
882 Posts |
Just a month or two ago, I bought like 8 morgans for $9 a piece. Yeah, they were worn and either poor-good in grade. But I only buy morgans if there $10 or lower.
Good things,
Ty
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Valued Member
United States
140 Posts |
i was at a auction tuesday and they where selling really worn morgans for 15.00 + 10% buyers fee. they were selling they where all common dates. 2 of them where ms coins out of 100.
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Valued Member
United States
111 Posts |
I was frequenting an estate auction house quite a bit in 2006. I found the floor to have numerous novice coin buyers. It seemed like almost all of them used the RedBook to set their bidding prices. The only time Morgans went low was when no newbis' showed up. |
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Pillar of the Community
United States
2600 Posts |
Thx Everyone for your thoughts. Jim
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Replies: 9 / Views: 1,230 |
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Posted 01/12/2007 2:49 pm
