Condor said; At the time of the Pitman melting they had coined somewhere around 530 million morgans. They melted about 270 million, but then in 1921 coined 86 million more 1921's, so about 346 million Morgans were left. My response was; Whose to REALLY know how many Morgans are left? How would one determine accountability since the great meltdowns? I doubt much that any are left in Federal Reserve Vaults. Probably the only surviving Morgans are now in the hands of Coin dealers and private collectors. Which causes me to wonder about the specific quantity of 1921 Morgan's. If there were 86 million 1921 Morgan's minted, where could they all be located at? Surely, they could not have all been melted down, but say half were. That still leaves 43 million coins. Now I have read somewhere that there are approximately only two million coin collectors in the U.S. which now leaves an abundance of 41 million coins just laying around somewhere. The average price for one of these coins runs around $ 25.00, is that because someone is hoarding them somewhere to keep the price up? I might be off base on this analysis, so what is your take? Dave
The Pittman Act also authorized the purchase of approximately 200 million ounces of domestic silver from 1920-1933 for the production of about 270 million silver dollars. The 1921 Morgan dollars were not affected by the melt under the Pittman Act. Chris
There are many people ou there that aren't coin collectors with a stash of silver dollars I've met many especially the older generation I think they just Like them and like having silver around
I got lost in your math. Can you help me out with this part: 86 Million x 1921 Morgans minted. OK Half were melted. OK 43 Million left over. OK Approximately 2 Million Collectors. OK Abundance of 41 Million Coins Laying Around. LOST ME Looks like you took the 43 million surviving 1921 Morgans and subtracted 2 Million. But Collectors are people, not Morgan coins. Why are they treated on a 1 to 1 basis in your analysis? I personally dont even collect Morgans but I have 5 OBR's. Just for the silver. So I, as a collector, have 100. If each collector had 100 you would have an excess of 114 Million Morgans (2 Million collectors x 100 Coins each - 86 Million minted) instead of 41 Million unknown. PS - this is how common core math problems sound
Don't forget a boatload got melted in 1980 thanks to the Hunt brothers. No way to put a number on how many got melted.
I am not trying to be smart with you, but I don't know what an OBR is. I am quite certain (in my own mind) it is not a 1921 Morgan silver dollar. I would love to be able to afford 100 silver dollars of any mint date, but to be more realistic, if two million collectors were to have ten 1929 Morgan's, that would only account for 20 million coins, which still leaves an abundance of 23 million unaccounted for. Dave
An OBR is a roll of any coin, that the bank receives in large quantity. Usually they are in Mint condition. So for example, an OBR of Mercury Dimes would be a roll of 50, mint condition dimes, all the same year and mintmark. Dollars are rolled in $20 denominations. Oh, and there were no Morgans minted in 1929.
I guess I have about 300 Morgans, just a guess but the 1881-S Morgan I have 41 all graded and in TPG holders, 28 or so in just PCGS rattler holders. Don't know how many are out there but the grading companies are still grading them today, I don't think they will run out of Morgans to grade.
My bad. How right you are. Not even any Peace Dollars in 1929. Thanks for the interpetation of Original Bank Roll. I guess I could have figured it out eventually, but it was easier to ask. Dave
Just to be clear Bob. My thread was specifcally about the quantity of 1921 Morgan dollars. I am sure that collectors have more than 10 silver dollars, but not more than 10 1921 Morgan's. AND I agree with your comment that graders will never run out of Morgan's to grade. Dave
