Well I'm back from the auction and morgans were selling as if Silver was in the mid 40's no Morgan went cheaper than 37.50. Most were 42. However the ASE were low few sold for 27 and the others at 32. I picked up a few large cents and others. When I get a chance I will post them.
Very interesting. My experience at my local B&M today was the opposite. He sold me some rolls of avg circulated(VF-AU) common date Morgans for $28/coin so $3-4 over spot. But he wanted $38 for ASEs (7 over spot) so I passed on those.
I went to an auction last night and Silver wasn't affected at all to my surprise. I thought I would be able to get 1 of the 100 ounce bars for a decent price, NOT!!! 8 100 ounce bars went for $3800 each not including the 10% BP and the 1000 Morgan/Peace $1s went for $30,500 without the BP. I almost crapped my pants.
Jester, they were junk silver. I don't know about the dates, didn't have time to look through a thousand Morgan/Peace dollars before the auction started.
Silver coins have two (2) measures of value; Numismatic and Bullion. The Numismatic value of the Morgan dollars (even common ones) keeps a floor under prices regardless of how low silver falls. Common ASEs have much less Numismatic value and will fall further in price as silver falls...(imo).
I think that the drop in silver won't be realized in prices very consistently until it has dropped for some time. 2 reasons: 1: The fact that much of the silver for sale would have been bought when prices were higher will keep people from selling low in the short term. No one wants to lose money. 2: There are still plenty of people trying to keep the dream of super expensive silver alive... and they will bet on prices going back up and prop up the bubble.
Most were nice some junk anything higher than 62 went for low 50's and up. I picked up a nice 1890 for 37.50 My guess it's a 60 or 61. It's still in my console of my car.
