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 Replies: 12 / Views: 4,016 |
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New Member
United States
2 Posts |
I apologize if this gets asked all the time. I know that common circulated Morgans on average contain .765 troy oz silver, and I have been multiplying this number by the current spot to arrive at a base price. According to my calculations the actual cost of the coin should be around $21. I am wondering what is a good price to look for when purchasing from coin dealers (how much markup would the average dealer add to the cost?) . I am also interested in hearing your opinions on whether Morgan dollars are a good or bad choice if I wanted to invest in silver. Thanks! |
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Valued Member
United States
58 Posts |
depends really, one day I was able to get em below melt value at $20/piece... then there was a bin of some that were better for $22... then some for $25.... 2 days later they adjusted for silver price (and someone managed to buy em out mostly)... personally unless you are looking for something specific, I think anything over 25 is not worth it
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Moderator
 United States
23731 Posts |
 to the community You can buy common date Morgans in BU condition for around $30.00. Any grade below BU will at that price will be too much. |
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Bedrock of the Community
United States
10982 Posts |
Morgans are usually separated as 1921 and pre-1921. Common date, circulated pre-1921 pieces that are not culls/damaged usually run $21-$22 these days.
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Pillar of the Community
United States
2661 Posts |
The last show that I went too had them for $21-$22, all in pick bins. I saw a lot of XF and a few AU. Some had been polished to the point that I stacked them to the side to take a second look just to see if they of a high MS grade instead, LOL..... no such luck.
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Valued Member
United States
294 Posts |
I just watched a bunch go at auction for an average of $32 apiece last night.
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Pillar of the Community
United States
1554 Posts |
$22 max in EF-AU. $16-$20 in G to F condition... ..Morgans are always a good investment!
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Pillar of the Community
United States
2049 Posts |
Melt as of close of silver spot today is $21.15 so $20-$23 seems like a good range.
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New Member
 United States
2 Posts |
Thanks for all of your responses, very useful info! I was able to find a few for $20 this past weekend, we'll see how long that lasts...
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Valued Member
United States
463 Posts |
You honestly cant go wrong with morgans or any other dollars, every one wants them so there will always be a demand. Even when silver was around 16-17 they were still going for around 17-18
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Pillar of the Community
United States
2541 Posts |
I've been picking some up for $21-$22 in XF to AU from some coin shops. I walked into a store the other day and the guy wanted $27 for XF to AU coins. I said "have a nice day!" and walked out empty handed!
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Valued Member
United States
103 Posts |
Expect 2-3 dollars over melt for Commons. As for investment in silver I always look for deals with either the lowest or no premium. 90% junk silver is sold at spot all the time and in my opinion is the best buy.
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Pillar of the Community
United States
4989 Posts |
As a buyer, it is rare you will get less than melt. Dealers often get less than melt since they pay for the overhead of a shop and get many "walk in" customers who just want to unload old silver at any price.
It would not surprise me to get offered $14 for a circulated Morgan, even today, at a coin shop. Negotiate and you might get them up to $17-$18 but don't expect $20 unless you are willing to hit the shows and find someone with a lower overhead booth.
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Replies: 12 / Views: 4,016 |
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Posted 11/19/2010 2:14 pm
