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 Replies: 39 / Views: 6,558 |
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Valued Member
United States
252 Posts |
I'm overseas and looking to buy Morgan and Peace dollars. I have a retiree that has some that he is willing to sell. I'm buying them as fast as possible at $25 each for all of his commons in F-VF. Also, 64 halves for $7 each and 40% halves at 2.50 each. The halves are all over the place condition wise. My question is, how much do they go for at the LCS back in the states? Am I off the mark here? I've been on ebay and seen the prices there, but lets face it only the people that don't have an LCS (like me) are really buying the majority of their coins from there. Any help is appreciated as I am meeting up with him again tomorrow. |
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Pillar of the Community
United States
1306 Posts |
I was in my LCS a couple of weeks back, and saw some Morgans in a basket for $30.
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Pillar of the Community
United States
5825 Posts |
Common date Morgan/Peace dollars in F/VF should sell at bullion value plus a slight premium (seller's profit ~10%).
With silver spot currently at $16.77 that would work out to about $18.50 per coin.
EDIT: Huge mistake on my part.
Since Morgan/Peace dollars are only about ¾oz of silver their bullion value is about $13.00.
So a 10% profit would make the price about $14.50.
I consider $25 WAY too high.
$17-$18 would be the top end of reasonable.
Edited by kanga
01/14/2015 08:42 am
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Pillar of the Community
United States
4883 Posts |
Morgan & Peace dollars out of the "cull" bin (common issues, circulated) are generally going for $18-$20 in my area. That isn't to say that $25 isn't fair in the U.K. where perhaps they aren't quite so universally available. Colligo ergo sum
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Pillar of the Community
United States
4211 Posts |
Lower grade Morgan and Peace dollars are $21 - $25 at my LCS so I say you are doing pretty good at that price in the UK. Even culls are $18+ at mine |
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Moderator
 United States
23522 Posts |
I will borrow money to buy Morgans for less than $20. I haven't seen prices like than in 8 years.
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Pillar of the Community
United States
2815 Posts |
Look up the ebay seller morgandealer. He sells all kinds of messed up cull Morgan dollars. Some have been cleaned, some are scratched/damaged. However, there are also those with original surfaces that are simply worn. I try to pick those out for myself. I was able to score a few of these under or at $20 with free shipping. It's worth a shot. If my LCS sold Morgans for $18 I would clear out the bin. I'm not even kidding. Edited by Darth Morgan
01/14/2015 10:59 am
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Pillar of the Community
United States
1158 Posts |
Quote:
EDIT: Huge mistake on my part.
Since Morgan/Peace dollars are only about ¾oz of silver their bullion value is about $13.00.
So a 10% profit would make the price about $14.50.
I consider $25 WAY too high.
$17-$18 would be the top end of reasonable. I'm sorry, but nobody sells any Morgan/Peace dollars at near bullion value, even if they are very worn. I don't see a Morgan/Peace dollar (other than horrible culls) ever being worth less than a common silver 1 oz round, despite the silver content. My LCS sells lower grade Peace for $22 and Morgan for about $30. Common date AU are about 5-10% above that. $25 is not a crazy good deal, but it isn't a bad one, especially factoring in that you are buying foreign coins. APMEX.com is one of the biggest bullion dealers in the States and they are selling "Junk" Morgans and Peace for about $24-28. So in that sense, you are in the sweet spot. |
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Valued Member
 United States
252 Posts |
Well tkbslc, I am and I'm not buying foreign coins. I'm active duty stationed over seas and he is retired military, but we're in the UK where US is not common. I really don't mind giving him an upper hand and feel pretty bad as he was originally pricing them based off of a 2007 Littĺeton coin catalog so naturally he was about $50 overpriced. He's meeting me tomorrow bringing the rest of his halves dollars dimes and nickels. I think I may just go ahead and take it all from him. Some of it isn't the best, but he's a great guy that volunteers at our post office 1-2 times a week. I'll let everyone know how tomorrow goes.
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Valued Member
United States
252 Posts |
Oh and these aren't cull by a long shot. They will fill holes nicely until I can buy up some ms coins. I'm quite happy with their quality.
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Moderator
United States
23522 Posts |
I don't see any of that as a losing proposition for you, and would happily do the transaction myself.
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Pillar of the Community
United States
3343 Posts |
Take all the dollars and 90% halves you can afford.
Kick yourself later. 5 years from now you'll have forgotten what you paid.
You'll only remember the odd place where you bought them.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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Valued Member
United States
252 Posts |
Thq, I'll never forget how much or where because I'm meticulous with records. I bought Exact Change to help out with that bit of OCD. :) I don't think that I'll regret it at all though. I mean I bought the start of my ASE collection at $35 each and I'm still happy to have them. |
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Valued Member
United States
252 Posts |
I'll post pics tonight, but this is what I bought today: 1 '21 Morgan lower AU - $25 1 '22 Peace XF - $25 1 '64 Half XF - $5 Whitman 9029 set Roosevelt dimes (P, D, & S) '46-'74 - $1.20 each for silver and 30¢ each for clad He's bringing the SLQs, and his "older than Franklin halves" next week. He said that he may have an 1850s half in F-VF condition. I'll have to start saving more money or asking my wife for a larger allowance at this rate. |
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Bedrock of the Community
United States
11951 Posts |
LCS here sells bucket dollars
Culls $19
VG-VF $24 to $25
XF - AU $35
BU $45
I think when private collectors are buying from each other like this
they should also look at what dealers are paying.
Of course local dealers are going to much less then prices listed above.
If they are damaged to the point they would be hard to sell even in the buckets, then they will pay less than melt.
IMO a lot of people do not look at the point that many common dollars prices were driven up because of the raise in the price of silver.
Now that silver prices are going down, there is a good chance dollar prices
will continue to drop at the LCS's, buying and selling prices.
Pretty much the same thing happened in 1980 (the other time silver prices spiked real high). I still see common date MS 65 Morgan's come into local LCS with paper work where they paid $400 to $500 for them in the 1980's.
Today these dollars can be bought for less than $200.
When I help out at the local shops here, the hardest thing for me to tell customers is that they paid to much for their coins. It happens very often.
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Moderator
United States
23522 Posts |
Fair warning - the variety collectors among us will be looking for pics of the Dollars for attribution purposes.  |
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Replies: 39 / Views: 6,558 |
Posted 01/14/2015 08:00 am
