| Author |
 Replies: 13 / Views: 2,634 |
|
|
Pillar of the Community
United States
4883 Posts |
What would be your position on this? For the sake of limiting the scope of the discussion, let's presume common date Morgans (especially the 1921's) in no better than VF condition, and exclude true lowballs which are a perverse exception in the scale of numismatic value. Likewise for Peace dollars, particularly the 1922/23's. And if your answer is "yes" in either case, do you actually buy/sell/trade them as such? Colligo ergo sum
Edited by Lucky Cuss
11/29/2014 5:31 pm
|
|
|
|
Valued Member
Canada
286 Posts |
Are Indian heads and Lincoln wheat considered scrap copper? All coins are collectable IMO but some are closer to scrap then others.
|
|
Pillar of the Community
United States
1192 Posts |
I would say no unless they are super slick. I would expect to pay $13.50 for most common ones in low grades. I can only get mostly slick ones for $16. Common ones go for like $22.
|
|
Moderator
 United States
14463 Posts |
 unless they are super slick they aren't junk silver, even then they might be candidates for a low-ball set  |
|
Bedrock of the Community
United States
10982 Posts |
Quote:
Circulated Morgn/Peace Dollars - Are They "Junk" Silver? No - they are not junk silver. By informal definition junk silver excludes silver dollars of all types. They contain more silver per $1 face value than do fractional 90% silver coinage and silver dollars always carry a numismatic premium unless they are damaged. |
|
Pillar of the Community
United States
1158 Posts |
There is .77 ounces of silver in a Peace or Morgan dollar. I haven't seen many sell for the $12 that equates to at today's prices. That means there is plenty of numismatic premium for all but the ugliest ones. |
|
Pillar of the Community
United States
2368 Posts |
In my opinion, I would only consider cull common date Morgan and Peace dollars to be junk silver. Meaning cleaned, holed, bent, scratched, etc. |
|
Pillar of the Community
United States
3343 Posts |
Yes in both cases. They trade above melt but I buy them above melt too. For me they're value placeholders for future coins, kind of a piggy bank. Better for resale than sterling flatware, which sells well below melt.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
|
|
Pillar of the Community
United States
5825 Posts |
Junk or not?
IMO that largely depends upon your budget.
If you have to stretch to come up with $20 a month then, NO, they are not junk.
|
|
Pillar of the Community
 United States
4883 Posts |
Quote:
I would expect to pay $13.50 for most common ones in low grades. Quote:
I haven't seen many sell for the $12 that equates to at today's prices. Quote:
They trade above melt but I buy them above melt too. I've repeatedly observered coin shops buying (or offering to buy) Morgan/Peace dollars of the type and condition I specified for no more than their intrinsic worth as bullion. They in turn sell these for roughly $5 to $8 above that figure. That would compare to the typical premium for generic rounds/bars of $2, and about $4 for ASE's. So at least for dealers in my region, valuing circulated silver dollars numismatically appears dependent on which side of the transaction you're operating, and I say that as no indictment of them, understanding they're simply in business to make a profit, and that's how it has to be done. From the consumer/collector standpoint, it does seem that your average condition commons can't be counted on to be any less "junk" silver than halves, quarters, or dimes. But for the professional, there's clearly a much better margin in buying them than there is for other types of silver. Colligo ergo sum
|
|
Pillar of the Community
United States
3843 Posts |
It's just a negotiating technique. |
|
Pillar of the Community
United States
1192 Posts |
Some places think they are too special though. I went into a estate sales place and looked at their coins way, overpriced for their silver dollars. They were charging like $35 firmfirm for common average conditioned dollars, like $12 over my dealers haha.
|
|
Moderator
United States
23522 Posts |
Silver dollars are the alpha dog of silver coinage and will always attract a strong following in new collectors. Nothing feels like a cartwheel in the hand. There will likely always be a premium on silver dollars.
|
|
Pillar of the Community
United States
506 Posts |
Quote:
Some places think they are too special though. I couldn't agree more. It also applies to people. I showed some Morgans (common date) to someone who does not collect coins and she said "Wow, these are so cool! They must be worth hundreds of dollars!" |
| |
Replies: 13 / Views: 2,634 |
|
Posted 11/28/2014 10:21 pm
