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 Replies: 34 / Views: 4,481 |
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Pillar of the Community
United States
1180 Posts |
I'll start off by saying I'm not a Morgan collector. I have a few of them but nothing rare and far from a collection. While I do like the coin, they are a bit too expensive for me. On top of that, I really question if they are overpriced. For example I regularly see CC Morgans sell for hundreds of dollars. I know a ton of them were found uncirculated and sold off in the 70s or 80s. I understand supply and demand dictate price, but when you compare to the Peace dollar where a majority of them are circulated or cleaned, the Morgan is way more expensive. Are people just nostalgic about the coin and driving up prices? Will the bubble burst? It just seems like there are much rarer coins out there that are a better investment. I hope I don't offend anyone as they are beautiful coins. What are your thoughts? |
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Valued Member
United States
424 Posts |
IF the bubble does burst I'm fairly confident it won't be in our lifetimes. There is a possibility that our great great grandchildren will loose interest. Morgans seem to be the perfect coin for the collecting community at large. Almost everyone seems to have at least one (I have three). I think it would be an interesting poll to see if anyone on this forum doesn't have a Morgan. I think they are in a small minority.
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Pillar of the Community
United States
3210 Posts |
Supply and demand is always key. There are still millions of Morgan's out there not in collector hands. They are so popular cause they're big silver, have a cool history behind them, hundreds of millions were made and are readily available. CC Morgan's are always going to sell for hundreds cause the mintages were the lowest of any mint (philly, Denver, New Orleans, and San Francisco) plus the allure of owning a comstock load silver coin. Morgan's in my opinion will always have a higher price cause of demand is always high. Morgan's always sell for a nice premium over its silver content, even circulated common dates sell in the $20-$25 range which is $6-$12 over its melt price. Compare it to other common 90% silver and it will always sell quicker cause of its allure. I have quite a few Morgan's and if I could afford to do a mint state complete set one day I would cause it'd be an awesome collection and a nice long term investment. Just my thoughts.
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Pillar of the Community
United States
533 Posts |
I don't think anytime soon. I think certified Morgans, especially in the higher grades and key dates, will continue to hold their value for a while, if not forever. Among other things I think investors are driving the price of certified Morgans up and will continue to do so. So while there may be some ups and downs, as with any market, overall I think it will remain strong. Plus when you compare them to the Peace dollar the Peace dollar is just an ugly design. Edited by jaxenro
10/14/2016 10:35 am
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Pillar of the Community
United States
3342 Posts |
No. I don't collect them. But I like them because they divert attention away from the tired coins that interest me. Millions of MS62 GSA cc Morgans keep attention off the small handful of circulated cc gold coins.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
10/14/2016 10:50 am
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Bedrock of the Community
United States
10982 Posts |
There is not a bubble so there is nothing to burst. Morgan prices have been relatively consistent against other coins/series' for decades. Sure they could drop but their popularity makes a significant decline unlikely.
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Pillar of the Community
United States
1450 Posts |
I think the Morgans will keep their values because the coin has so much detail and the ones in higher grades are beautiful. I think the silver coins minted first in 1916 will also hold their values because they are unique with beautiful details. Also when you consider the mintage of many Morgans and the early 20th century coins it is incredibly low compared to modern coins. A good number of Morgans and quite a few Peace dollars have mintage of less than a couple of million. We have a country of over 300 million. That is less than one 1928 Peace dollar for 500 people alive today and for a 1894 morgan with mintage of 110,000 there is about 1 for every 3000 people in the USA and we know Morgans are collected all over the world. What will the population of the USA be in 40-50 years.....600 million maybe? The silver coins we handle today will be rare objects in 50 years. Too bad I won't be alive to cash in heh, heh. I would like to be the owner of a set of MS LWH dollars in 50 years. The hobby may be in the realm of the rich only but there will be collectors. The mint needs to produce low mintage silver and gold commemorative coins because nobody is going to want to collect coins with 30 billion mintage now or in the future I think. Maybe there will be no coins in 40-50 years. |
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Bedrock of the Community
United States
12057 Posts |
What bubble? Prices are down 10-30% or more in some cases vs. 3-5 years ago.
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 Edited by paralyse
10/14/2016 11:26 am
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Bedrock of the Community
United States
11951 Posts |
I am with the group ... what bubble. Compare Morgan dollars to other classic coins. If you take a price guide and look at MS silver coins from the late 1800's For common date coins, in most cases, a MS 64 Seated Liberty or Barber coin will have prices twice what a common date MS 64 Morgan. There is a lot of supply, for Morgan dollars ... but a lot of demand. I think part of the demand is because we can higher grade coins for a good price. I do think the lower grade coins should sell a little lower ... But .. I don't think even them are to high. |
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Pillar of the Community
United States
6370 Posts |
I still don't understand why the 1884 CC Morgan is so expensive with nearly a million BU examples extant, and why the 1893 S is many multiples more expensive than the 1894 even though it it only marginally scarcer. Seems silly and a waste of money to me.
Morgans have always been and likely will always be (within reason) be popular, most likely due to nostalgia and their association with the Wild West. They are also big, somewhat-pretty, silver coins, which also makes them quite attractive to some people. There are tens of thousands of collectors who collect Morgans, so they will probably never die out. The keys will continue to rise in price (I guess "value" can be used if you wish), and scarcer VAMs will be popular as they allow for "rare" coins for fractions of the price of the keys.
I apologize for being so cynical. I'm just annoyed with the US coin market.
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Pillar of the Community
United States
1450 Posts |
I don't understand the 93-S vs the 94 Morgan price differential either. There are a lot of GSA 1884CC Morgans which might be part of the reason for them being expensive. Just about all the CC Morgans are expensive even those with well over a million mintage. Considering you can get them in MS64 for $250 that is not bad. The 1882CC and the 83CC are not that expensive either. The 1889CC is just out of sight in MS as is 93CC.
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Pillar of the Community
United States
6370 Posts |
Quote:
Just about all the CC Morgans are expensive even those with well over a million mintage. I meant nearly a million 1884 CC exist in BU condition. 90% of the original mintage was in the treasury vaults. The supply is plentiful, so I don't know why they would be so expensive. I would expect that most collectors who can afford a BU silver dollar (say $60-$80) would able to get one, so demand isn't pushing up the price. It is expensive simply to be expensive because of the little CC mintmark. |
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Pillar of the Community
United States
937 Posts |
Morgan dollars are the one classic coin that are common enough to be promoted, and they have been promoted by every huckster, carnival barker, mail order coin company, and television shopping channel to come down the pike. No date or mintmark is truly rare, there are just less common ones. Their prices often reflect the PM market so, like some have said, there is no bubble right now, if there ever really was. They are big, silver, and compared to dollars designed in the twentieth and twenty first century they are quite good looking. Then when you know that when they start getting too cheap for the easy dates someone like HSN will come up with the next unknown hoard and the promoting will start again.
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Valued Member
United States
321 Posts |
Supply and demand. Same reason Half Dimes are so cheap despite low mintages and even lower survival rates (only a few hundred for many dates). I got an 1867-S Half Dime for $30 last week, it has a mintage of 120000 and about 225 coins survive. |
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Valued Member
United States
384 Posts |
Where can one see the survival (expected) of things like the Half Dime? |
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Valued Member
United States
321 Posts |
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Replies: 34 / Views: 4,481 |
Posted 10/14/2016 09:49 am
