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 Replies: 20 / Views: 3,408 |
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Pillar of the Community
Canada
572 Posts |
As I don't see many American 90% up here, I'm unfamiliar with the price. A local coin dealer has some and asks $24 each, while the melt is at $21. Most of them seem to be circulated but in fair condition. There are two slabbed MS63 Peace dollars, which I believe are also $24. Is it a good price? Thanks. |
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Valued Member
United States
344 Posts |
My B&M guy has a bin of F-XF Morgans which he sells for $27 each so it sounds like your dealer is in the ballpark.
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Bedrock of the Community
United States
36832 Posts |
The slabbed MS-63 Peace dollars he is giving away at $24. Buy them. These retail in the $39-45 range. Circs, APMEX buy price for good or better pre-1905 is $27.05, Peace dollars $25.58. APMEX is a large on line bullion dealer. |
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Pillar of the Community
United States
808 Posts |
Sounds like a good deal to me.
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Pillar of the Community
United States
5854 Posts |
Slabbed MS-63 Peace dollars would be an excellent buy if you can get them for $24 each. Average circulated silver dollars usually sell for a few dollars over the melt value so $24 is not a bad price. I just came back from the Brimfield antique show a few days ago and many of the dealers who had average circulated silver dollars were asking around $28-30 each which is not unreasonable. Edited by D0ubl3Eagle
07/14/2012 2:35 pm
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Pillar of the Community
1283 Posts |
It is dang near impossible to get Morgans for melt or even close really. Peace dollars are almost always cheaper and can be had most of the time for a $1 over. |
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Pillar of the Community
United States
5862 Posts |
That's an excellent question! I just found a new pawn shop today and apparently the co-owner (who wasn't in the shop today) has a boatload of lesser grade Morgans that the other owner thinks might be for sale at $25 each. My first thought was that this was way too high, since melt is right around $21. But after reading this thread I think it may not be too bad. Maybe if the guy has a ton of them I can offer him something like $24 apiece if I buy 100 of them or something...
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Pillar of the Community
1283 Posts |
$25 is a descent price for basically any Morgan, its not the best in the world but it is probably a good price if there are some descent ones in there. A couple bad things about Pawn Shops, I have found. 99% of the time the coins in the "junk" bin are ver worn and been picked through a few dozen times or more pulling any key or better quality piece. When it comes to coins at the pawn shops I have found they are less willing to make "deals" like others would. I personally have never had any luck shopping at pawn shops. IMHO hoarding silver through the acquisition of Morgan silver dollars is a no brainer. I personally try to never sell a silver dollar unless someone pays me a great premium. It seems that they never drop in value even with the huge swings in the silver market. If you look on ebay you will rarely see a Morgan for under $30 on ebay and thats with like $20 melt. And one more thing Barryg, use some Maple Leaf tubes to store your silver dollars, they work perfect and hold 28-30 per tube. |
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Pillar of the Community
United States
3184 Posts |
slabbed for 24? Youd be crazy not to buy at that price
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Pillar of the Community
United States
5862 Posts |
Quote:
99% of the time the coins in the "junk" bin are ver worn and been picked through a few dozen times or more pulling any key or better quality piece. You're probably right. What caught my attention, though, was the fact that this place doesn't actually have a "junk" bin -- instead, he just apparently has a hoard in the back, so it may not have been picked through. I've been using Morgan dollar sized coin tubes to store my Morgan dollars, personally... |
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Valued Member
United States
376 Posts |
My local shop sells Peace and Morgans for $22 right now. But most are in the Good to Fine condition with reasonable tarnish.
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Pillar of the Community
Canada
1731 Posts |
When silver was a little higher than it is right now, I got morgans that were usually EF and above, even an Mint state or two for around $27.
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Pillar of the Community
United States
4008 Posts |
Quote:
A couple bad things about Pawn Shops, I have found. There is so much variability from shop to shop that it would be difficult to formulate a meaningful sense of what pawn shops are about. Some are pretty bad, some pretty good, and most fall somewhere in between. The pawn shop where I buy some 90% silver coins doesn't have a lot of inventory but what he has is usually in pretty good condition, fine or better, and I can get it at spot so it's a pretty good deal. My only complaints are his small inventory and slow turn over. |
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Bedrock of the Community
United States
36832 Posts |
If you buy from pawn shops and not coin shops, beware of the Chinese fakes. China is not picky on the dates they counterfeit and even the most common dates have been faked. Pawn shop owners might not catch the fakes as easy as a coin dealer would.
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Pillar of the Community
United States
4008 Posts |
Quote:
Pawn shop owners might not catch the fakes as easy as a coin dealer would. Yes, there is that. But checking with a magnet and a scale should help eliminate the obvious fakes. Most of the 90% that I buy are halves, quarters, and dimes, so if someone wants to put their effort into cloning those I guess we just have to take the risk. As always, be watchful... caveat emptor and all that. |
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Pillar of the Community
United States
667 Posts |
Wow this is a vague question and what I will give you is a normal range for the current spot silver price. This is what you can expect from most dealers.
Cull or Damaged Morgans - $27.00
Pre 1921 Morgans BU - $45.00
1921 Morgans BU - $34.00
Graded Morgans such as MS 60 - MS 63 - These can command even higher prices. Too many variables to give actual numbers but lets say $89.00
Of course there are several grades in-between Cull and BU, as well as graded and slab and key dates.
Now you can get better buys from some dealers but the above is just a guide.
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Replies: 20 / Views: 3,408 |
Posted 07/14/2012 11:43 am
