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Questions About Morgan/Peace Dollars

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Pillar of the Community

United States
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 Posted 10/15/2021  12:54 am Show Profile   Bookmark this topic Add NumismaticsFTW to your friends list Get a Link to this Message Number of Subscribers
I'm not sure if this is the right place to post this question but..

There is a LCS that is selling Unc Morgans/Peace with problems for around 35-45 dollars, is that worth it?

Problems being lightly cleaned/dipped. I was curious if it's even worth it to purchase for that price. I will find a really nice choice unc grade Morgan or Peace, only to find out under my loupe there is light traces of cleaning/questionable scratches.

What would be the value of these common date Unc details coins?

Thanks!

You realize when you know how to think, it empowers you far beyond those who know only what to think.

-Neil deGrasse Tyson
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jacrispies's Avatar
United States
3848 Posts
 Posted 10/15/2021  01:49 am  Show Profile   Bookmark this reply Add jacrispies to your friends list Get a Link to this Reply
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.
Suffering from bust half fever.
Want to learn how to attribute early half dollars by die variety? Click Here: http://goccf.com/t/434955
Shoot me a PM if you are looking to sell bust halves.
Edited by jacrispies
10/15/2021 01:51 am
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kanga's Avatar
United States
5825 Posts
 Posted 10/15/2021  08:11 am  Show Profile   Bookmark this reply Add kanga to your friends list Get a Link to this Reply
Common date Morgan/Peace dollars with problems should be under $30.

And remember, if you buy a coin with a problem, you'll always have a coin with a problem.
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KenKat's Avatar
United States
4085 Posts
 Posted 10/15/2021  09:26 am  Show Profile   Bookmark this reply Add KenKat to your friends list Get a Link to this Reply
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.
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NumisEd's Avatar
United States
5177 Posts
 Posted 10/15/2021  09:35 am  Show Profile   Bookmark this reply Add NumisEd to your friends list Get a Link to this Reply

Quote:
Common date Morgan/Peace dollars with problems should be under $30.


If junk silver, then they should trade at about 20x face value.
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jacrispies's Avatar
United States
3848 Posts
 Posted 10/15/2021  10:30 am  Show Profile   Bookmark this reply Add jacrispies to your friends list Get a Link to this Reply
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.
Suffering from bust half fever.
Want to learn how to attribute early half dollars by die variety? Click Here: http://goccf.com/t/434955
Shoot me a PM if you are looking to sell bust halves.
Pillar of the Community
United States
2280 Posts
 Posted 10/15/2021  10:58 pm  Show Profile   Bookmark this reply Add NumismaticsFTW to your friends list Get a Link to this Reply
You all make great points about this. I'm buying Morgans and Peace because I enjoy them, not necessarily for a set or album. Of course having silver content helps, but I'm not buying to "stack" them. I just want to buy them at a fair price. Thank you for your wisdom!
You realize when you know how to think, it empowers you far beyond those who know only what to think.

-Neil deGrasse Tyson
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