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 Replies: 12 / Views: 1,614 |
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Pillar of the Community
United States
2480 Posts |
What do you think is a reasonable price for a lot of ~100 Morgan and Peace dollars, all of ordinary dates, grades from AG to XF (maybe a few AU), no value-added VAMs? Recent ebay sales for similar coins (individual or in small lots) are ~$32-34, occasionally a bit lower or higher. There is some convenience to us selling them as a batch to one person (well, whole lot minus a few higher grades and perhaps some VAMs, minus the 1893-S of course, and minus a few that we will keep), so that's worth us giving a better price. Someone I know wants to buy them. He is not coin collector although he is starting to buy some-- his initial intent was to buy/stack bullion but now he is considering some coins. What do you think is a reasonable price for both parties? |
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Pillar of the Community
United States
2254 Posts |
I think spot price is around $30 right now. Taking into account a Morgan/Peace has ~23.5 grams of silver in it, and there's 31.1 grams in a troy ounce, you would have about 76 ounces of silver in $100 face value. At $30 an ounce, that would yield about $2300 in silver content. A pretty far cry from the typical $30-$35 you would get on ebay individually. Having said that, depends on how good of a friend they are.  |
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Pillar of the Community
United States
759 Posts |
I would say split into two piles, anything less than MS at $27 and anything MS+ for $30. As always with Morgans, IMO, the FMV of Morgans should drive the deal price and not solely the bullion value. Good luck.
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Pillar of the Community
 United States
2480 Posts |
Good plan, OneBowl. I will take a closer look at the coins in question and make sure there are no MS's in there. I haven't finished inspecting for valuable VAMs either. I got bogged down in the massive lists on vamworld.com but then decided to see which of those actually translated into higher FMV. I had proposed a price of $30 each, he countered with $27. I think we're in the right ballpark. While it's nice to see the higher FMV, reality is a different story and the labor involved in trying to sell individual coins of that grade or smaller lots is considerable. I will also call the local coin dealer and see what they're paying right now. More than half of the Morgans are 1921. Wow, a lot of VAMs for those... Haven't even looked closely at the Peace dollars yet other than to note that most of them have significant wear. |
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Pillar of the Community
United States
1721 Posts |
I see a LOT of dealers asking 35 dollars each for common Morgans and Peace dollars. But I always see the same choices and they don't seem to be flying off the shelves. Occasionally, I'll find an MS or VAM to make their price a good deal. You are asking what's fair or considered a good price. My response would be what will make both parties (buyer and seller) happy. You can be a dreamer and ask 5000 dollars for the lot or you can give a great deal and sell them for spot value. I've seen some common Morgans due stupid money at auction but the sellers premium could wipe away your smile if they bring a small amount over spot. When silver was at 12 dollars an ounce I saw common Morgans bring 25 dollars each at auction. If they did this today, I'd be very disappointed. In my opinion it all boils down to how much you paid and how happy you'd be with the price you get. Remember this: Sellers remorse (or buyers remorse) can ruin your day only if you let it. |
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Moderator
 United States
23522 Posts |
Quote:
More than half of the Morgans are 1921. Wow, a lot of VAMs for those... On the bright side, there are very few 1921 VAMs with added value in less-than Mint State condition. A couple off the top of my head: 1) Grab all the 1921-P's. Stack them, and observe the reeding. You may find one or more with wider reeding - we call them Infrequently Reeded. Stacked together, the IR ones will be obvious. If you find any, look at the reverse. Learn the difference between the two 1921 reverses here - at the bottom of that page is the major pickup point at the talons: http://www.vamworld.com/17+Berry+ReverseIf you have an Infrequently Reeded 1921 with the D2 (16 berry) reverse, let me know and call a cardiologist.  2) Any 1921-S's? Look on the obverses for a gouge between the leaf and cap, like so:  If you find one of those, contact me but don't worry about the cardiologist yet. I'll let you know if you need one when we figure out which variety it is. 3) If you find a 1921-D with a huge Cud at 8:00 on the obverse, go straight to the ER, and then contact me. |
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Bedrock of the Community
United States
10982 Posts |
If you want to sell them as bulk lot "as-is", I'd ask just under $3000. Say $2950 if you want to move them quickly.
This assumes all are circulated common date coins.
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Pillar of the Community
United States
2480 Posts |
I think I won't be needing a cardiologist for the 21-D Cud... checked for that one already :) Thank you SO much for the tips, SsuperDdave! I will check for infrequently reededs and the rest this afternoon. Just finished grading, bagging, and tagging the Barber dimes and Seated Lib dimes. Nothing very heart-stopping there but it was fun. I was going to go through the 30+ lbs of buffalos this trip but I think I'll have to put off doing those and the Merc dimes since I was (happily) sidetracked by the discovery of these other bags of Morgans and Peace dollars. What about Peace VAMs? I haven't even looked through the list of those yet nor have I checked to see if any of them translate to increased FMV. The Peace dollars are mostly 1923. |
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Moderator
United States
23522 Posts |
1923-P Peace have some really spectacular breaks on the obverse - cheek/neck and the back of the hair. Stuff literally broken out of the middle of the die. You won't miss one if you have it, and they're all added-value. There's one variety with a similar break on the reverse wing; again, you won't miss it.
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Pillar of the Community
United States
2335 Posts |
I just looked on ebay at completed auctions. Looks like they are selling in the $3000 range +/- a couple hundred dollars. That's before fees which would run somewhere around 12%. A fair price is probably somewhere around actual ebay sale minus half the fee. Keep in mind a dealer would not pay that much. |
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Valued Member
United States
168 Posts |
Keep in mind that whatever someone gets on an ebay sale that you have to subtract the ebay and PayPal fees, which are around 13%, and then take into account postage as well as your time to pack, mail and deal with a client. If these are sold individually on ebay then you are not netting all that much more than other venues while you will be taking on substantially more work. APMEX currently has bags of 100 Peace dollars in VG-EF for $31.21 per coin and 1921 Morgans in VG-EF for $32.72 per coin while 1878-1904 Morgan dollars in G or better are $31.22 per coin. These are retail sales numbers. Their buy prices are obviously lower. Currently, each silver dollar has about $23.48 in silver so I think a fair price to both you and your friend is somewhere in between the bullion value and the APMEX retail price. |
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Pillar of the Community
United States
1195 Posts |
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I had proposed a price of $30 each, he countered with $27 Split the difference at $28.50/ea, if you can, and call it good. |
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Pillar of the Community
United States
2480 Posts |
You guys are awesome. Thanks for doing my research... I really appreciate it. I'd forgotten about APMEX as a resource. Good data. |
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Replies: 12 / Views: 1,614 |
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Posted 12/31/2012 06:28 am
