Paying Up For MS Morgans - Coin Community Forum

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Author	Replies: 7 / Views: 1,517
terry8835 Pillar of the Community United States 1450 Posts	Posted 08/30/2015 3:13 pm It seems to me that a few weeks ago sellers on ebay were letting go of their better Morgans for a pretty good discount. Now since the mini-stock market crash buyers are willing to pay up for MS64 Morgans and go beyond Red Book. Has anyone else detected a change in sentiment on Morgans in the last week. Maybe I am just sensitive since I got beat out on maximum bids for common 1899-0 MS64 Morgans when other bidders bid over Red Book and topped me at the last minute. I am hoping the sentiment regarding big gold and silver coins remains negative until I can buy all the ones I want. Then they can have a moon shot and I will be happy. The disparity between graded MS64 and MS65 is really huge and I cannot always tell the difference. Report this Post to the Staff

Copper Penny Connection Valued Member United States 415 Posts	Posted 08/30/2015 3:31 pm I was actually just thinking last night about how the price of morgans and even Peace dollars to an extent have has premiums increase slightly. It has happened across all grades, not just BU dates. This is rather common, and usually premiums balance itself out when silver prices go up, or supply starts to out weigh demand. Report this Post to the Staff
Slider23 Pillar of the Community United States 4468 Posts	Posted 08/30/2015 4:38 pm In the last week, I sold in auction two MS63 common date Morgans to coin dealers on ebay and dealers do not typically buy the common date coins that I have for sale. I was wondering why coin dealers were buying these common date Morgans. It is possible that some dealers and collectors reacted to the down stock market and wanted to boost their inventory on coins that will be impacted by a upturn in silver prices. I have been selling off my duplicate common date Morgans in grades MS63 to MS65 and buying better date, PL, or DMPL coins. Report this Post to the Staff
TMCD75 Valued Member United States 245 Posts	Posted 08/30/2015 5:34 pm Slider, the LCS around here are all three to four weeks out on acquiring silver coins and rounds. The big mystery is why prices aren't going up with the recent demand. I've been told twice in the last week that the silver market is acting very weird. Some are expecting a spike sooner than later. I don't know how this correlates to overpaying for common Morgans, just wanted to share my experiences last week when looking for silver bullion to purchase. Report this Post to the Staff
paralyse Bedrock of the Community United States 12057 Posts	Posted 08/30/2015 6:00 pm Morgans are always popular, regardless of silver prices. I am not sure what accounts for the bid price creep you are reporting. Activity in PL, DPL and key dates remains strong, and PL/DPL continue to trade well ahead of the market. Remember that falling silver prices INCREASE demand for low grade silver, as collectors, investors and dealers "reload" in preparation for the next bubble (there's always a bubble.) That may be pulling bids ahead as dealers turn over inventory and stock up again after ANA. CDN noted quite accurately that dealers were complaining about stagnant inventories (old/unsold) @ ANA Chicago, and the need for a supply fresh coins to enter the market. Silver is undervalued, in my opinion, and a good buy. Member ANA - EAC - TNA - SSDC - CCT #890 "Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis Report this Post to the Staff
terry8835 Pillar of the Community United States 1450 Posts	Posted 09/01/2015 08:54 am Why are Morgans so popular? I wonder if this is just USA situation or are they popular world-wide? I have my own ideas about why but they are just my own. I just started collecting them because I like big beautiful silver coins and the Morgans are amazing. Where else can you MS64 large silver coin 130 years old for less than $100? Report this Post to the Staff
Tryna Pillar of the Community United States 937 Posts	Posted 09/01/2015 10:50 am Morgans are so poular because there are enough of them in UNC or AU that they can be readily promoted and have been heavily promoted for decades. Hoard after hoard have come out since the 1970's or even before. They are big pretty coins with lots of silver in them. Common date Morgans in AU or better are common as crab grass. Add to that that everyone has been told that they are rare and valuable and that you will go decades or even never see one in circulation. They are one of the first thing that casual collectors and bullion buyers gravitate to as they are so well known. My LCS has circulated Morgans at $27 and they fly out the door. I asked him why the price did not drop with the silver drop and the answer was that he was turning his stock over quickly at that price and he sees no need to lower it. As if to prove his point a customer walked in and bought twenty of them without a second thought. Report this Post to the Staff
terry8835 Pillar of the Community United States 1450 Posts	Posted 09/01/2015 4:22 pm Tryna I think you are on to something. If you LCS sells the circulated Morgans for $27 I wonder what he pays for them. Probably $12-15 for the common ones that are not MS. I have also read the same thing about high turnover at both the retail and wholesale markets for Morgans. It seems to me that if a person just wanted silver they should buy the Silver Eagles which you can get for less than $20 each for 2015's at least, and they are one ounce of silver which is more than Morgans. I went to one of my LCS's and he said he could not keep silver coins on the shelf because people were buying it all. He does business mostly in gold and silver and a small business in coins. There are many places calling themselves coins shops when all they really do is just buy silver and gold at below market price. I am sure if I went to an auction next week there would be many silver bowls and silver objects selling for just about the spot price of silver with buyer's premium, of course. I bring calculator and can guess a good price just by silver weight in ounces X the spot price of silver. I even bought Tiffany silver for just about it's silver spot price. This was back a few years and since I could not turn it over for a decent profit I just stopped collecting silver. I wish I had just kept buying and stored it someplace. I could have made a nice profit since I was paying about $7 an ounce for it then, but I was not thinking like an investor. I was thinking like a collector. in order to make money buying and selling silver and gold you have to buy it at Highway Robbery level and then sell it for retail and that is hard if you don't own a retail outlet. I also don't like keeping gold and silver at my house. Asking to be robbed and home invasion which I don't want. Report this Post to the Staff
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