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 Replies: 21 / Views: 3,966 |
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Pillar of the Community
United States
3540 Posts |
WOW! Heirs are tired of paying $800 annual fee for the 3'x3'x4' safe deposit box. "The hoard contains 1878-S, 1880-S, 1881-S, 1883, 1884, 1884-O, 1885, 1886, 1887, 1888 and 1889 Morgan dollars. Garrett said several hundred of the coins exhibit toning from their storage in the canvas bags." https://www.coinworld.com/news/us-c...nt-sale.html*** Moved by Staff to a more appropriate forum. *** |
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Rest in Peace
10197 Posts |
Well at least they get a dollar for dollar exchange rate for them!
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Pillar of the Community
United States
3479 Posts |
Like there wasn't enough of them already. Not good news for Morgan collectors. Glad I stopped collecting them. They present no challenge to collect other than $$$ barriers which makes them no fun and just plain boring to collect.  Edited by MikeF
06/08/2018 11:52 pm
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Moderator
 United States
188213 Posts |
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Bedrock of the Community
 United States
12477 Posts |
Interesting. Wish I was the heir who got bothered by the bank fee!  In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
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Pillar of the Community
 United States
3540 Posts |
A hoard of numismatic material, even though silver dollars, is moved from the main coin forum? THIS is Numismatic News, not just Morgan dollars that "fit" in a particular category. Ability to watch how these coins are graded (correctly graded? grade inflated? name of the hoard?). Ability to watch how this hoard is marketed to collectors and public. Ability to see which are cherry picked. |
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Pillar of the Community
United States
8715 Posts |
Unless they changed the rules recently, Morgan dollars are US Classic coins. |
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Valued Member
United States
213 Posts |
Will this sudden flood of Morgans significantly lower going rates?
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Bedrock of the Community
13014 Posts |
Quote:
Will this sudden flood of Morgans significantly lower going rates? They're just a drop in the bucket for common date comnmon grade morgans. The only thing that could get impacted would be if a flood of top pops came out of it, even then they would have to be properly graded ones. NGC has been generous with the grades of things like this is the past so you really have to wait and see how they graded them and see the coins before you can have an idea of what impact if any they would have. |
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Pillar of the Community
United States
1308 Posts |
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Rest in Peace
United States
18456 Posts |
And to think I was a coin collector in 1964 . who new ?  |
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Pillar of the Community
United States
3540 Posts |
Click on the link and check the pictures. The Morgan pictured looks like a VERY high grade coin.....as in MS68!
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Valued Member
240 Posts |
"Garrett said the son and daughter of the man who originally purchased the coins more than 50 years ago no longer wanted to continue paying the $800 annual rental fee for the roughly 3-foot by 3-foot by 4-foot safe-deposit box that houses the silver dollars." Okay ... let's get real here. A fee of $800 a year isn't the issue. Total BS! They simply want what they are entitled to ... the inheritance they deserve! Perhaps they spent all the cash and other assents they inherited and this is all that's left... Anyway, it's their's to sell. At least it will go to people who appreciate it. |
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Pillar of the Community
United States
4233 Posts |
I guess I have to side with the heirs on this one. I love my coins, but what are you ever going to do with 16,000 Morgans besides sit on them? They've been paying the vault fee for more than a decade, so that's 8 grand down the hole just to "have" something. Put that $1.5 million in a CD and you got $45,000 a year to enjoy life with and still have the $1.5 million.
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Bedrock of the Community
United States
12477 Posts |
 Tru dat. I would do the same thing, no shame. In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
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Pillar of the Community
United States
2815 Posts |
"Discovered" hoards like this are my favorite thing in numismatics. Exciting!
Edited by Darth Morgan
06/11/2018 09:20 am
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Replies: 21 / Views: 3,966 |
Posted 06/08/2018 10:20 pm
