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 Replies: 9 / Views: 1,904 |
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New Member
United States
1 Posts |
I have kind of a weird question. I have been looking at buying a few peace and Morgan dollars on ebay and I'm trying to get an accurate value on them. I looked up values in my 2011 Red Book and I noticed that most of the values for common low grade silver coins are below the current silver melt value. (e.g. 1922 Peace dollar in XF40 is 17.40 in the Red Book but around 22.19 in melt value) Obviously the price of silver was lower when they wrote the book than it is now. My question is how do I get an accurate assessment of the value of such coins? I would assume that even low grade coins should be worth somewhat more than the melt value. Thanks |
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Pillar of the Community
United States
2734 Posts |
The lower end coins' bullion value now exceeds their numismatic value. Scarcity Premium swept away by Bullion.Moving up to the next level price range ($40-$60) is smart. If silver rises past $50/oz., you'll have better dates for melt value. If silver falls, you didn't pay high bullion prices for common date coins. |
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Valued Member
United States
314 Posts |
Price guides will provide you a base, but market prices will always fluctuate according to spot price regardless of what a guide says. From my experience at several estate auctions recently, Peace and Morgan dollars have been going for $22.50-$27.50 each for common dates, with nicer specimens fetching the $30.00-$32.50 range. If prices on silver would drop to $10.00 per oz, you would be able to find these same coins in the 10-12 range again. If you're looking at more uncommon dates, such as the Carson City Morgans, their prices, do not swing that much from the change in spot price. |
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Valued Member
Canada
54 Posts |
Completed prices on ebay ARE the current price guide,I would say. |
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Pillar of the Community
United States
1510 Posts |
Id never melt any of my coins
Retired USAF 1983-2003
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Pillar of the Community
Canada
3692 Posts |
Use the Red Book as a guide, don't rely on it too much for accurate prices because the editors have to agree ahead of time what to put into print, and by the time it's off the presses the prices are already obselete. For this reason I'd suggest a bi-weekly or monthly publication with regularly updated prices and varieties added as they're discovered. |
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New Member
United States
16 Posts |
Would you all say that if a lot of the coins low end of course end up getting into the melting pot that the price of our coins we keep may go up and if silver values go down the collector value will stay up as there will be less in the market place
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Pillar of the Community
United States
1534 Posts |
Quote:
For this reason I'd suggest a bi-weekly or monthly publication with regularly updated prices Those type of publications are often as inaccurate and overpriced as the Red Book. I would use ebay completed listings, Numismedia if you want a slightly optimistically valued free guide, or Greysheet is most widely used and is generally considered to be the most accurate. No guides can give you exact prices, so use that as a disclaimer when using any guides. |
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Pillar of the Community
United States
3343 Posts |
The best judge of their value is what they sell for. I'd suggest bidding $25 for commons. You control the price from the opening bid to that level anyway, and if you never win try at $30.
I'm glad my taste for that went away before the price shot up. I always bought them in shops (where they usually sat in a big tin can waiting for me). Over time I got real finicky since a worn out 1922-P was the same price as a well-struck MS 1924 or 1925. I sorted through hundreds of them to get a few dozen that satisfied me. That's where I got my 1925 avatar.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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Valued Member
United States
175 Posts |
I'm New to this so bear with me please. What Ya'lls opinion on buying old coins that are in bad shape & melting them? Not Morgans! I'm talking about coins that you can barley see the obverse & or reverse sides.
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Replies: 9 / Views: 1,904 |
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Posted 01/09/2011 12:52 am
