I've got $65

This week I was lucky enough to win the NASCAR pool here at work and after paying my $5.00 entry fee for the next race, I'll have an unexpected $65.00 to play with. Typically I'll pay a bill or buy dog food for my two pups. This week it's going to be different, I'm going to buy silver coins for MYSELF. Question is, what should I buy? I don't have a Morgan or Peace dollar so I was thinking of picking up one of each, or maybe a couple ASE's. Let's stick to dollar coins since I'd really like to walk away with a couple large chunks of silver in my pocket. Let me know, I'm going on Wednesday this week.
HOTN

 

Log in or Sign up to hide this ad.

Buy what makes you happy! I already have a few morgans, so I'd probably opt for eagles myself. More silver for the money, plus I really like the walking liberty design.

 

If you just want silver go for the silver eagles. If you like numismatic coins with history to them get some Morgans. Or you could always get one of each.

 

I would definitely vote for 1 ASE and 1 peace/morgan as well, but that's just me

 

For me, this is going to be fun and any US Silver makes me happy. I really don't have the extra funds to buy silver like this all of the time, I need to pull it from circulation and pay face value for it to build my collection. I do have one 1990 BU ASE that I bought at melt when silver was down around $31 last year, so I was leaning towards the Morgan and Peace Dollars since I don't own a single one. I like history and the fact that we are saving coins from going to the melting pot which adds to the plus of owning a Morgan or Peace Dollar.

I want to get as much bang for the buck as I can. I thought ASE's would carry the biggest premium?
HOTN

 

Maple Leafs or Philharmonics.

Personally, I went with Maple Leafs, but either would do (the Philharmonic has a better design, IMHO).

Or, you could look for a graded MS morgan. Prices on them have come down quite a bit.

Good luck whatever you decide.

Inq

 

Actually, most of the time ASE's carry the least premium unless you get a burnished or special one. That is because they were made in the last few decades so there is no numismatic (coin) value on any of the common, ungraded ones.

 

It was previously said something about the walking liberty design, so I might just point you in the direction of the halves, since they are being scraped too. I figure you could get a couple of those. It really does surprise me, though, what counts as melt nowadays. I saw some AU-MS looking mercurys that are going to the scrap, to be sold at melt

 

I picked up a walking liberty half a few weeks ago because I liked the design on the ASE and wanted one of the real things. Nice coin! It doesn't have the heft of the ASE though...

 

The walking liberty half is my favorite to pull from circulation. I love the worn look on most everyone I came across. Ill be looking for some nice MS coins for as close to melt as possible. I plan on being the owner of some cool silver coins by the end of the day. Why the high premium on the Morgan's?

 

Other than people just liking silver dollars, I don't know why there is such a high premium. A 1921 BU Morgan is sitting at $38.99 on provident, while a 2012 ASE is at $36.46.

 

Silver eagles are great but i found myself liking 90 percent silver better. Morgans are my favorite and I also love quarters. Check your shop for any Mexican silver. I picked up two of these 1947 5 peso coins for just under spot and they are pretty cool looking (atleast thats what i think).






I dont know, theres just something about holding circulated silver coins that makes me like them more. Just imagining all the people that touched it and the time period when it was created. Could be just because I'm a history buff but anyway good luck picking something out and go with whatever you like most :yes:

 

Well their are at least 12 million 2012's going to be sold this year. Almost 90% or better will grade 69 or 70 and 100% will be kept in Gem Unc condition. 21 Morgans have a finite number minted granted almost 45 million but how many of them (especially at the end of the 20's as we entered the great depression) were kept in gem unc quality. When it came down to spending that 21 morgan to feed your family or keep it nice and pristine which won out? Factor in this will be the third great melt of silver and gold coins since 1921 and think how many survived? The other thing you have to consider is an ungraded Bu morgan will always be no lower than about $24 regardless of silver price. Again with 12 million ASE's minted the only exceptions numismatically speaking are the W burnished, the 1996, and maybe a couple early series dates that will have premium over spot. I know you only mentioned common 21's but for my point I'll give a perfect example. When silver was only about $10/try.oz a 1978 7 tail feather 78 rev. was selling for 190-200. Now it sells for about 250-300. When/if silver goes back to $10 that morgan will still sell for around 200. Yes it increased with silver and will cheapen with silver prices down but you won't find it any where near melt of $10 nor the 21's.

 

Well, he did mention that he had $65 to spend and he was thinking about picking up a morgan and a peace dollar - clearly he would be buying common dates. Your argument that a silver dollar would hold value better than an ASE if silver prices drops is still true, but not to the same extent as your $300 coin example. When you're talking about coins in the $35 price range, I still think the best advice is just to buy what makes you feel good.

 

ive got maybe 40 each morgans and peace and maybe 25 ase's

 

i live at the new jersey shore, and i cant find 1 coin dealer anywhere.... any help out there?

 

There's quite a few I've been to. I'm also from jersey shore area. There's one in Toms River, Point Pleasant, Howell, Long Branch, and Red Bank. A simple google search will show you the results. If you need more details pm me and I'll give you the address of the places.

 

If I can find ungraded BU looking Morgans for $24, I'll pop for at least 3 of them and throw in the extra cash from my searching money. I would consider that a great deal.
HOTN

 

I'm probably going to be able to find the common date Peace Dollar closer to melt than the Morgan from what everyone is saying. If I can do that, I'll have a little extra to put into a nicer example or better year of a Morgan. I'm hoping the owner is knowledgeable and will assist me in making a good decision. The anticipation is killing me since I also get to roll through a couple boxes of halves while I'm at it.
HOTN

 

the only suggestion I have not heard mentioned here is the good old generic 1oz round. I bring it up only b/c you mentioned wanting the most silver for you dollar.

I know my LCS considers anything that is not a ASE or Maple to be a generic. I can sometimes grab prospectors or other nice rounds for $1 over spot. there are lots of fun designs that you will find.

You could get 2 full oz of .999 this way. I agree not the same as getting your hands on a nice old morgan though!