| Author |
 Replies: 14 / Views: 1,111 |
|
|
Pillar of the Community
United States
7123 Posts |
Hi Everyone Ok !!! whats the facination with the Morgan dollar ? I have never been particularly fond of them,, I have some but they are the least looked at coins in my collection!! Am I missing something ? Tell me why I should take another look at these coins !!! Rick |
|
|
|
Forum Mom
 United States
5877 Posts |
Many people consider the Morgan dollar one of the most beautiful US coin designs. Overall, the detail is exceptional and it has a very graceful appearance. They are also silver and very large. A great number of these coins is tied to the Carson City mint which has been an overall fascination in numismatics. There are a great number of varieties which taps a completely different market. Add to that the number of uncirculated examples and the GSA hoard and you've got the makings of an incredibly collectible coin. |
|
Pillar of the Community
 United States
7123 Posts |
Susan,, That is my point !!! there are so many in UNC condition !! the market is continually flooded with prime examples of these coins,true there are a few that are fairly scarce but overall, there seems to be a never ending supply of these coins in impressive grades,
this to me is a market anomoly? and demand driven even though on the supply side ,, it makes very little sense.
in the true economy these dollar coins were seldom used in everyday commerce ,and as you said one of the only true historical markers for the coin is the CC mint ?
Im just trying to get my head around these coins !!
Historically they are probly close to the bottom of the ladder,IMHO and rarity wise except like most coin series a few dates and mints ?
Rick
|
|
Forum Mom
United States
5877 Posts |
From what I'm seeing, the MS60-MS65 coins are not commanding the prices they used to. I think this is due to the market flooding that you're referring to. The higher grades will probably stay stable. However, circulated grade Morgan prices have been going up nicely (at least on ebay). Quite frankly, I think it's getting harder to find nice circulated examples than it is to find the BU coins.  |
|
Pillar Of The Community
3147 Posts |
I collect Morgan dollars, as does my wife, in unc. condition, with an occassional AU thrown in. We have most of the key dates, or did have, and the Morgan dollar in my opinion is one of the safest places I have EVER put any of my money. My local dealer can not keep unc. Morgans in stock as they go right back out the door regardless of date or mint mark. They are absolutely beautiful coins, full of U.S. history and a tremendous set to build. In the back of my mind I always know, should I need to sell, there is NOT a dealer anywhere who would not buy them. At this point in time I could almost say that about all U.S. coins as the market is hot, across the board, and I don't see it ending any time soon. |
|
Rest in Peace
United States
2884 Posts |
This is not just an American phenomenon. These coins are sought after all over the world. They were used in large transactions,stored in bank bags like a lot of gold coins and stored in bank vaults to back notes, hence the tons of Unc's or near Unc's. They were never that popular as a circulating coin because they were big and heavy. The connection to the American West, even though few were minted in Carson City is the most often cited reason for collecting them. As Terry pointed out they are easy to sell, a pretty good investment and a great way to save silver. Morgans came around about the time of The Battle of Little Bighorn, and that era was really near the end of the western frontier so most "gunslingers" would have been shooting holes in and slapping down Seated Liberty dollars or Spanish milled dollars at the Saloon until the late 1850's,then Seated libs or small denomination gold. So, why do people love Lincoln Cents?Mike  |
|
Valued Member
United States
72 Posts |
quote:
Originally posted by Mike
So, why do people love Lincoln Cents?
A lot of people collected lincoln cents because they could find them in pocket change, along with nickles. Today you don't find many wheaties in change but they are one of the least expensive coin to collect. |
|
Rest in Peace
United States
954 Posts |
Boy..! If you want an answer to your question Metalman how about asking Kyra..! I'm sure she will give you the answer your looking for. I'm with you however. I have a complete collection of Morgans which I collected back in 1961 but prefer the Trade dollar for design. catman |
|
Rest in Peace
United States
2884 Posts |
Bulldawg, Welcome to the forum! Collecting Wheaties is how most American collectors started(mostly for the reason you cited) and just for the record my "question" was tongue in cheek and aimed at some serious Lincoln collectors on the forum! I was just messing around. Mike   |
|
Pillar of the Community
United States
867 Posts |
quote:
Originally posted by Metalman
Hi Everyone
Ok !!! whats the facination with the Morgan dollar ? I have never been particularly fond of them,, I have some but they are the least looked at coins in my collection!!
Am I missing something ?
Tell me why I should take another look at these coins !!!
Rick
What?!?!?! Not fond of Morgan dollars? Off with his head! Oooops, sorry 'bout that- don't worry, the axe-man is still enjoying the Keys.  I can't speak for anyone else, but I can say what my fascination with them is. The very first coin I got for my collection was a Morgan dollar that showed up in my Easter basket one year when I was a kid. That and my Granddad carried a Morgan as a pocket piece, and he would let us kids play with it to keep us amused in church. I'd love to have that coin, I'm pretty sure Gran has it, but that's not something I can just go up and ask for. She knows I'm a collector, and I did inherit Granddad's cent hoard, so maybe....  Sure, the history involved is neat, you just never know what that dollar was used for- especially the CC's that come from the "Old West", but that's what really does it for me! Rachel [:p] Edited by Kyra
08/24/2005 8:53 pm
|
|
Pillar of the Community
United States
7123 Posts |
Huh ? What?!?!?! Not fond of Morgan dollars? Off with his head! Oooops, sorry 'bout that- don't worry, the axe-man is still enjoying the Keys. Now there is a reaction for ya !!! LOL ,, Kyra, maybe if I had a few more morgans I might find a way to really like them !!!  Interesting points made by everyone , Except the crack about the noble cent !!!  Thanks Everyone Rick |
|
Pillar of the Community
United States
980 Posts |
Fascination with silver dollars is obvious. As a " morgan outsider", I understand both the question and the fascination. Many got hooked on Morgans through parents, grandparents, etc. Few 19th cent coins are available in such a state of preservation as many morgans (gold being an exception) There are many available in high grades for "reasonable" prices. However, because the series is so popular, the key prices have been driven out of the reach of most. An 1893-s in Vg will cost one around $3000, and there are at least 5,000 certified out there by PCGS and NGC. Compare that with the classic commem key-HI, where NGC and PCGS cert number is less than 3500, and that same $3000 buys a nice mid MS grade. And while I like the design, and the history-if one can be objective (I realize there is no such thing with coins )the peace design is gorgeous! |
|
Pillar Of The Community
3147 Posts |
The Peace dollar, while a fascinating design and an interesting history behind it, is a BEAR to grade!!! Had a full set at one time but sold it off so, as always, I started another set years ago and it STILL is not complete. Every time I go into a coin shop with intentions of working on my Peace dollars I leave with Morgans. I just can't leave an unc. Morgan lay!!! |
|
Pillar of the Community
Australia
1091 Posts |
quote:
Originally posted by Kyra
.... That and my Granddad carried a Morgan as a pocket piece, and he would let us kids play with it to keep us amused in church. I'd love to have that coin, I'm pretty sure Gran has it, but that's not something I can just go up and ask for.
Rachel [:p]
OH YES IT IS!!!!!!!!!!!!!!!!!! Gran is not a mind reader and She probably doesn't know of the special attachment you have to that particular Morgan dollar that you played with in Church. If Gran knew that it meant something to you, reminded you of your Grandad, I'm sure she would be overjoyed in giving it to you, happy knowing that He is remembered and will continue to be remembered. Granparents know memories are important, it's what they think about most of the time. So my advice is go ahead and ask. What is the worse that could happen? She could tell you she sold it because she didn't know anyone wanted it! Or the coin could just get lost over time! This one coin is too special to you to just wish, hope and pray you end up with it. I doubt that any of your other relatives hold the same significance to this coin or they would have asked for it already. Tell Gran that you'd love to have it. "Ask and ye shall receive", I wouldn't pray about this one, I'd go and ask her, thats My advice Good Luck |
|
Pillar of the Community
United States
7123 Posts |
quote:
Originally posted by toast
quote:
Originally posted by Kyra
.... That and my Granddad carried a Morgan as a pocket piece, and he would let us kids play with it to keep us amused in church. I'd love to have that coin, I'm pretty sure Gran has it, but that's not something I can just go up and ask for.
Rachel [:p]
OH YES IT IS!!!!!!!!!!!!!!!!!!
Gran is not a mind reader and She probably doesn't know of the special attachment you have to that particular Morgan dollar that you played with in Church. If Gran knew that it meant something to you, reminded you of your Grandad, I'm sure she would be overjoyed in giving it to you, happy knowing that He is remembered and will continue to be remembered. Granparents know memories are important, it's what they think about most of the time.
So my advice is go ahead and ask. What is the worse that could happen? She could tell you she sold it because she didn't know anyone wanted it! Or the coin could just get lost over time!
This one coin is too special to you to just wish, hope and pray you end up with it. I doubt that any of your other relatives hold the same significance to this coin or they would have asked for it already.
Tell Gran that you'd love to have it. "Ask and ye shall receive", I wouldn't pray about this one, I'd go and ask her, thats My advice
Good Luck
Hey Kyra !!! Good advice is often free !!! Let your Nana know how you feel about the coin !!! Rick Edited by Metalman
08/27/2005 10:25 pm
|
| |
Replies: 14 / Views: 1,111 |
|
Posted 08/24/2005 12:56 pm
