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 Replies: 12 / Views: 1,676 |
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Valued Member
United States
339 Posts |
I was just watching TV about to go to bed and saw an infomercial for Morgan dollars, they were going on about how China uses silver (how is this relevant?) and that silver was at 50 dollars an ounce at one point and they were saying about how they were all almost extinct due to the price of silver back then. Ummmm, obviously silver wasn't that valuable back then if it was being used to make the coins in the first place, like how nickel and (sort of) copper is today. And how much can you snag an 1880 "o" for? They want 40 dollars plus 4 dollar shipping, I dunno, with the price of silver under 20 dollars again I can't see myself paying more than 30 for one |
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Pillar of the Community
Australia
3831 Posts |
Must be recycling an ad that was made during the high silver price days.
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Valued Member
 United States
339 Posts |
The commercial showed the price of silver from September being 24 dollars and some change, it looked like an old commercial but you can't buy a coin based off of how much it was worth in September, only what it's worth now, and they only limit you to 5 coins for some reason.
Like I'm going to break the bank if I buy 5 ounces of silver and it just happens to reach 50 dollars an ounce again.
I can go to my LCS and pick up some junk condition for melt price if they want to play bullion with them
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Pillar of the Community
United States
5825 Posts |
Quote:
... silver was at 50 dollars an ounce at one point and they were saying about how they were all almost extinct due to the price of silver back then.
Ummmm, obviously silver wasn't that valuable back then if it was being used to make the coins in the first place, like how nickel and (sort of) copper is today.
And how much can you snag an 1880 "o" for? They want 40 dollars plus 4 dollar shipping, I dunno, with the price of silver under 20 dollars again I can't see myself paying more than 30 for one Yes, silver WAS once about $50/oz. (Google up "Hunt brothers silver") But that was 1980, well after striking Morgans or any other business strike coins in silver. And, yes, MANY silver coins were melted down, not just Morgans. But not so many that scarcity became a significant factor. As for an 1880-O, it's a common date. And an individual coin's value would depend on its grade. |
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Valued Member
United States
339 Posts |
I knew silver was up that high a long time ago, but they were making it sound like it was today that it's 50 an ounce, almost a year ago I paid $40 for one when silver was around $35 I think, I'm trying to get my pictures to come up
Edited by xAGENTxMULDERx
12/08/2013 09:47 am
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Valued Member
United States
339 Posts |
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Bedrock of the Community
United States
11951 Posts |
Not just a long time ago
The chart I was just looking at
18th Jan 1980 silver closed at $49.45
It again started to raise, in late 2010
6th Dec 2010 silver closed at $29.60
It peaked again in the spring of 2011
28th April 2011 silver closed at $48.70
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Moderator
 United States
23522 Posts |
Quote:
And how much can you snag an 1880 "o" for? They want 40 dollars plus 4 dollar shipping, I dunno, with the price of silver under 20 dollars again I can't see myself paying more than 30 for one
Ignorant they are, and possibly also ignorant about the true value of what they're selling. I'll snag every single 1880-O they'll sell me for $40, as long as it's AU55 or better. 1880-O is a heavily-circulated Conditional Rarity, a $1000+ coin in MS64 and the worst banged-up MS60 you can find is still worth over $100. It's like this: No 1880-O has ever been slabbed higher than MS65. |
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Bedrock of the Community
13014 Posts |
Edited by basebal21
12/08/2013 1:25 pm
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Pillar of the Community
Canada
2805 Posts |
My 1881-O (VF+ maybe) cost me $25... but that's because American coins don't move as fast in Canada and its 2x2 was probably priced when silver was much lower. But I'm not complaining  |
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Moderator
United States
23522 Posts |
Quote:
PCGS actually shows 1 MS 66 now. They also have 2 as MS 65+ if you count that.
That's gotta be recent, and somebody needs to tell Heritage. They claimed 65 was Top Pop at both services in an auction that ended three days ago (although that data was as of October).  I rely on Heritage for pops, as I don't have a PCGS membership. |
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Bedrock of the Community
13014 Posts |
I use heritage for the Ngc pops myself. I wouldn't doubt they had it right when they made the listing. The weird thing is coin facts is showing an ebay result for it in 2010. I believe that to be an error though from someone making listing mistakes and the system feeding it in because of that. The sale price was under 800 dollars, if it wasn't listed in the wrong categories someone grossly under priced it and I'm sure that thing lasted all of 2 seconds before being bought. |
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Bedrock of the Community
Australia
21786 Posts |
I would not buy a common date MS60 Morgan at $50, on the information that silver was once (about) $50 per ounce, and not saying when that was, let alone why. The ad I guess is appealing to the small time investor, who may have seen a few nice Morgan dollars at some time in the past. Like any other investment, do a little private research first. It should become apparent that there would be better ways to buy silver, or better ways to buy Morgans. |
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Replies: 12 / Views: 1,676 |
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Posted 12/08/2013 09:29 am
