Will The Bubble Burst On Morgans?

I like Half Dimes but compared to a Morgan they are little bitty things. Remember we live in a McDonald's Super Size that era where the average Joe want's something large for his money. Morgans fit that bill nicely for a coin. If your used to the normal penny-nickel-dime-quarter and the very occasional half dollar and you see your first Morgan size alone makes you think it is worth more. So yes beginning and casual collectors, as well as investors, will continue to like Morgans and think they are worth more than smaller coins

I always get a kick out of people who tell others about how Morgan dollars are so common and there are so many of them out there that none of them are truly scarce -- apparently scarce VAMs, DMPL's, proof issues, and condition rarities don't count now?

CC mint gold is unobtainable for many collectors, so if you want a tangible piece of Wild West history, you're limited to the big silver and Liberty Seated coinage. In fact, CC-minted silver coinage is one of the few actual historical things you can own that has that connection to the West and is reasonably affordable -- almost anything else is going to set you back a ton of money (want a Colt Peacemaker? Go rob a museum!)

I've never met anyone I've shown a Morgan dollar to who is not a coin collector who isn't fascinated by the big silver. I keep a pocket piece for precisely that reason. I could pull out pretty much any copper out of my collection, or any Liberty Seated coinage, or whatever, but the reaction to Morgan dollars is always enthusiastic.

For that reason alone, the market for Morgans is mostly assured to continue being active for as long as I care to think about it, and probably longer.

Beem, the only large US Silver Dollars prior to the Morgan dollars are Trade dollars, Seated dollars & Early Dollars (small/large eagle), all of which are, indeed, relatively scarce, but "attractive valuation" is a highly relative term (affordable, they are not!) and I'm not likely to carry one around as a pocket piece for sure! And let's not even consider Continental Currency patterns...

I could always show off a Maria Theresa, a Bavarian Madonna thaler, or a Victorian Gothic crown, but...at least here in the US...they do not really draw the interest of the average non-collector the way a Morgan dollar does.

Of course, thq. Any Morgan will do the trick ;)

I've been in love with the coins for many, many years, ever since I was a little kid.

This is what 60 survival looks like.





When I bought it I knew is was rare by looking at Heritage auctions. I believe I paid $150 for it. Not anymore.

I started collecting pre motto San Francisco because cc's were overpriced. I don't have any of the dimes because I think they're overpriced.

@cascade that's why I like the pre motto S silver and gold. They're the original and genuine gold rush article. Before Hangtown became Placerville. Before Levis. Before Carson (BC).

I'm aware that this will not make me rich. I collect coins outside the Morgan bubble. 15 years ago I could stack my favorite, low grade 1858-S quarters, for $50-100 each. Getting one didn't satisfy my appetite for another. I probably wiped out the available supply due to their low survival.

My interest in these worn-out coins stems from a strong association with place. I grew up in Southwest Washington. During the California gold rush, the biggest city in Washington was Oysterville, which supplied the miners with the very small oysters used in their Hangtown fry omelets. I still gather those oysters, and know from experience that they are the best oysters to use in a Hangtown fry. I also lived in Oregon City for a while, which was the US District Court in the 1840's and where the village of San Francisco filed its city plat. I worked on the site where the Oregon territorial mint made the gold Beaver coins. Someday....but for now I'm contented with the little California fractionals and those worn out S mint coins. This is what bought those omelets, and what they exchanged their nuggets for, and they wore the heck out of them. That's what sandy pockets do to coins. That's why so few survive.

I just received my Heritage catalog for the upcoming October 31 - Nov 2 auction, and the Twelve Oaks Collection has about 20 each of 1889CC and 1894 Morgan's graded XF or under. If you are looking for a key date Margan, it may be a good time to buy as there will be plenty of coins available.

The Twelve Oaks Collection also has a lot of multiple gold coins also up for auction.