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 Replies: 12 / Views: 1,837 |
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Pillar of the Community
United States
589 Posts |
Hi All, I have been reading many posts in the bullion threads lately and Morgans have been coming up a lot. I like my world silver bullion coins but want a silver coin that will "holds its own" as its been put and that's where Morgans and even Peace dollars have been mentioned. Its true I do see on ebay and my LCS that I cannot find Morgans below $22.00 even what would be classified as junk. So its safe to assume to go with Morgans as a silver investment but also a numismatic investment. What do you all think. |
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Bedrock of the Community
13014 Posts |
Morgans are highly popular and do provide a numismatic cushion over normal bullion. I wouldn't look at them as an investment in junk silver condition, but if you wanted to go that route they would be the thing to pick over bullion rounds
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Bedrock of the Community
Australia
21786 Posts |
It's just the way that the market sees low grade Morgans.
At least, it looks as though the premium above the nett silver value is quite solid.
For me, very low grade coins are unsatisfying to own, (exception being ancients), and if I am after silver only, it is bullion coins bought for their silver value only.
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Moderator
 United States
16679 Posts |
I've got a few tubes of commons put away. Just depends what you get them for.
swcoin.ecrater.com
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Pillar of the Community
United States
3843 Posts |
Yes Morgan dollars and to an lesser extent Peace dollars do command a sizeable premium over melt in today's market. However I remember 5 to 6 years ago when lower grade/common date Morgans and Peace dollars were much closer to melt, who knows what the future will hold but like in the past we may see a lower premium if demand weakens or if silver prices go higher. |
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Pillar of the Community
Canada
3692 Posts |
There needs to be a premium on these coins. They're so amazing that it's sad to hear they get melted. They're great examples of hefty coins to show people some history.
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Pillar of the Community
United States
2373 Posts |
IMO today's high premium on junk Morgans is in part a resultant effect of the recent highs in silver(35 to 50). At $40 spot the melt was $30 each and as you probably heard before the masses always show up late to the party. $7 or $8 premium for 3/4 oz of junk silver is not too appealing to me on an investment basis. ASE's can be purchased for less than $3 premium for one full ounce. JM and Englehard 100 oz bars can be purchased for less than $1 premium per ounce. You have to decide which investment medium to choose that makes you feel comfortable. nlp |
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Valued Member
United States
118 Posts |
How easy is it to dump a 100oz bar though?
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Pillar of the Community
Canada
576 Posts |
I like the old coin route. I've gotten pretty lucky every now and then buying at junk prices and picking through the pile. For me the best thing to do is arrive with cash and offer to take all of the junk silver for one price. If I'm just looking for specific coins I pay with a mark up. Taking everything the dealer is usually okay with a 10 to 15 percent mark up. Add to that savings the chance to pick through it can be rewarding. I've gotten coins worth several times what I paid in this manner. I got extra lucky the other day, see "add to my stash" Form for pictures. Morgans and Peace dollars for $20 ($18.00 USD) each. I'm pretty confident that these coins are better than money in the bank. Edited by Liverpool
03/22/2014 1:51 pm
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Pillar of the Community
United States
2373 Posts |
I've never had a problem dumping 100 oz bars at spot for cash. Especially if they are JM or Englehard.
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Pillar of the Community
United States
1200 Posts |
I could dump a 100oz bar any day except Sunday, when my LCS is closed. Now all I need is a 100oz bar...
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Bedrock of the Community
Australia
21786 Posts |
I would much rather have a common date Morgan in EF than VG.
The tiny premium extra is more than fully justified.
Less than $5!
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Pillar of the Community
United States
3184 Posts |
I like morgans and peace and they represent a neat part of our history. Also the fact they aren't being made anymore. I would rather have that than a $20 bill
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Replies: 12 / Views: 1,837 |
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Posted 03/21/2014 8:36 pm
