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 Replies: 20 / Views: 2,751 |
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Valued Member
United States
374 Posts |
Can someone explain the appeal of Morgan dollars to me? Particularly in the MS range. |
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Pillar of the Community
United States
1554 Posts |
They are big and shiny. People like big and shiny coins. That's about it.
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Pillar of the Community
Canada
576 Posts |
We as a people have always tried to create things that are more than just the sum of their parts. Great art, great cars (Duesenberg, Ferrari's Enzo....), wine, I could go on. The Morgan for me is one of those things that is more than just its silver content and unlike the art, cars.... etc a MS Morgan is with in reach. I can buy a Morgan, I can't buy a Duesenberg. It is a durable treasure that requires very little maintenance. More or less they hold their value and some grow in value.
Please note to all. I am fairly new to Morgans so please don't be critical of my words. My Morgans are not MS but in time I will have a few.
I care for the art, their weight and their history.
Liverpool
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Pillar of the Community
United States
2368 Posts |
Liverpool, well said!  |
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Pillar of the Community
United States
4883 Posts |
Appeal of Morgans? Myriad. From a historical perspective, the political intrigue behind the Bland-Allison Act that authorized the new silver coinage. The bringing of George Morgan over from Great Britain, and then his design for the dollar coin being adopted contrary to William Barber's wishes. The employkment of schoolteacher Anna Williams as the model for the depiction of Lady Liberty. The use of these coins in the "Wild West" and the controversial mintage at Carson City. The unprecendented storage of millions, the random melting down of millions, the 1921 reissue with new dies, the release of the 1903-O's in 1962, the discovery and GSA auction of the CC's. As to the coins themselves, that so many exist in MS is singular for 19th century U.S. coinage. That there are some peculiar varieties like the 1878 eight tail feathers, 1882 O/S, 1890-CC tailbar, 1891-CC "spitting eagle", that there are PL and DMPL examples to ferret out, all these factors contribute to their popularity with collectors. Colligo ergo sum
Edited by Lucky Cuss
08/15/2014 9:59 pm
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Pillar of the Community
United States
1247 Posts |
Morgans have always been a popular coin, so a premium is attached, until silver goes back up to 50.00, then, the premium will be outweighed by the metal price.
However, stating that, there are certain years, mint marks, etc. that will always bring a high premium over melt.
CC morgans are not rare, just very popular, so they are expensive. It's all about supply and demand.
When enough people pay large amounts for a type of coin, its in the interest of those people to keep the price high.
Someone recently posted a beautiful 1883-CC MS65 DMPL Morgan... I mean it is absolutely gorgeous for a 100+ year old coin. And paid a handsome price for it.
I, myself couldn't see myself paying that price, but I am not a Morgan collector. I think I have 3 or 4 morgans in my collection, and they were all inexpensive.
It's all about supply and demand. Like everything else.
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Pillar of the Community
United States
1554 Posts |
Actually, Morgans have NOT always been a popular coin. When I grew up we spent them the same as paper dollars and thought nothing of doing so. There were some dates and mintmarks that were rare but these coins barely saw the light of day. They became popular in the 1970's when the many hoards were released. I still say they are mostly popular with the masses because they are big and shiny.
Edited by 1893S
08/15/2014 9:31 pm
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Valued Member
 United States
374 Posts |
I like the 'big and shiny' explanation :-)! I get the history too, that makes sense.
As far as demand and value, I'm wondering what is behind the demand. I can see people buying to invest, but someone must be collecting to create the demand?
Partially in the 62-66 grade range. Why the huge premium up from say 63 to 64 to 65? Based on the recent grading posts and replies here , a lot of experienced folks have a hard time telling the difference between grades or at least debate the grade a lot.
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Pillar of the Community
United States
7375 Posts |
I understand why Morgans are popular......they just aren't for me. I like them and have a few common slabbed MS63-65, but don't "collect" them.
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Pillar of the Community
United States
4883 Posts |
Quote:
Why the huge premium up from say 63 to 64 to 65? Probably at best only one half of 1% of surviving Morgans have so few bagmarks (and also are well enough struck) that they will qualify as MS65 or better. Generally speaking, there are several times as many MS64's extant as MS65's. The premium you see is a reflection of the relative rarity of those higher grades coupled with their added desirability simply out of aesthetic considerations. Colligo ergo sum
Edited by Lucky Cuss
08/16/2014 01:11 am
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Pillar of the Community
968 Posts |
I love the fact they're so big and shiny. In 65 or better, a Morgan is something else... frosted devices, flashy fields... Mmm tasty.
Throw in a spattering of rainbow toning, and I'm in heaven.
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Pillar of the Community
United States
589 Posts |
Quote:
People like big and shiny coins.  and they are also inexpensive. |
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Valued Member
South Africa
453 Posts |
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Bedrock of the Community
United Kingdom
17949 Posts |
As a foreigner, to me the appeal is partly the design, partly the history and partly that it's a coin that can be collected in so many ways. If you just want a raw, borderline UNC one, it's about the cheapest 19th-century World crownsize coin. I'm currently trying to complete a date set. Then you can collect all the different mintmarks and the VAMs. They are great coins for collectors at all levels!
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Bedrock of the Community
United States
17884 Posts |
Big,shiny,old, and cheap. How many other 19th century coins can you buy in MS for $50 or less, and they made so many of them they're available in bag quantity, in MS.
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Bedrock of the Community
Australia
21788 Posts |
Large crown sized silver coin with a design which everybody likes; all Morgans with mint lustre are a numismatic beauty beauty to behold.
They have a heavy tactile characteristic about them, added to the fact that they were made of precious metal.
They have a history which in part, includes the fact that they were actually USED as MONEY.
A numismatic collectible, available to any who may have a passing interest (or more), in coins.
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Replies: 20 / Views: 2,751 |
Posted 08/15/2014 7:50 pm
