Questions About Morgan/Peace Dollars

For that price, you could potentially find a decent deal if you know exactly what you're looking for. Specific VAMS, better dates, and rare coins in a certain grade. I am a casual collector of Morgan and Peace dollars, so I will pick a few up here and there only if they are at a good price or fill a hole in my albums. But if my coin shop were offering those prices, I would pass on the common dates. I would at least look through them to see if there are any choice coins or unrecognized rarity.

But the fact that they are problem coins only lowers the standards. It would have to be an even better date or variety to justify the price.

I would consider what your goal is in buying these. Do you just want to build up a stash of silver? In that instance, coins with some issues are probably ok. If you are collecting for historical purposes, to build sets, etc. then I would look for problem-free coins in most cases, even if you have to pay a little more.

Morgan dollars have been trading higher than junk silver for a while. There is a much higher demand for those than the usual junk silver.