8 Morgans and 4 Peace Dollars, various years conditions and mint marks

Hi Everyone,


I recently inherited 8 Morgans and 4 Peace dollars. They were used by my grandpa back in the day as poker chips.


They seem pretty scratched up to me, but I know nothing about grading coins. I'm hoping you all can help me by giving them a grade and a valuation.

Here's a link to detailed images:

https://docs.google.com/spreadsheet/ccc?key=0AjDR15GVLMqhdHA2WFFBZGg3c1ZrOTd0T3VSanBRVnc

I'm not interested in selling them, as they have sentimental value to me. But I am interested in having a general idea of how many $ over melt they are worth, as well as the formal "grade" of each one.

Morgan 1879-O
Morgan 1880-(P) AU?
Morgan 1881-O AU?
Morgan 1882-(P)
Morgan 1882-S
Morgan 1882-(P). AU?
Morgan 1884-O
Morgan 1885-(P)
Peace 1922-S
Peace 1922-(P)
Peace 1922-D
Peace 1922-S.

Is it accurate to say that the AU examples would be worth melt + $11? Today the melt value of the silver in the coins is valued at $21.07 according to a website where you can look up those values. Would it be accurate to say that no matter what happens to the price of silver, the AU examples are worth $10-$11 more, or does that also vary with the silver price?

The coins in my collection that are not AU - are they VF or lower than that? How meaningful is it to assign the numbers (i.e., VF-20) for coins in this condition?

Thanks!

 

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Welcome to cointalk. You pose some good questions and hopefully we can provide everything you need to know. First and foremost, Morgans are a plentiful and widely collected coin in today's hobby. Most of what you possess are common date coins. In this case, even AU grade quality coins will fetch pretty close to melt. The amount of mint state coins are so plentiful, that it makes AU pieces less pricey and more available in the grade.

My personal recommendation is to buy a resource like the Red Book to United States Coins. Get yourself familiar to the coin you have, the history, and the mintages. Don't take the pricing too seriously however, these are antiquated pricing matrixes brought about by year over year averages. And most of the time they are on the high side. You will be surprised at not only how many nice uncommon and rare key dates exist, especially in the Carson City pieces, but you might be surprised how many of the common dates exist as well.

Hope this helps some, and you'll get more info from the other folks here.

 

There worth scrap Which about $240.

 

Welcome to the forums, you can't always say a coin with be worth melt + X, if a coins melt value is $20, but the coin is worth $30, if/when the melt price goes up to $30, the coin will likely still be valued at $30, If/when melt goes to $40, the coin will likely be worth $40. Different grades have different values for different date/mint marks. It's also not always safe to say a coin in XX grade will always be this much, regardless of the date/mint mark


For example, look here: http://www.numismedia.com/fmv/prices/mordlr/pricesgd.shtml

You'll see that certain mintmark and date coins, command much more of a price than others.

 

First, welcome to CT.

After looking over your list of Morgans and Peace dollars, those are pretty much common dates, meaning many were struck at their respective mints for the years listed. If they're as beat up as you say, from your grandfather using them for poker chips, they pretty much will be worth melt value only. The exception would be the coins you think are AU, or About Uncirculated. The standards for an AU coin are slight traces of wear on the high points and half of the original mint luster still present.

 

Hint for further reference common date coins don't have much value over scrap unless they are in MS 60 condition or higher key dates even in bad condition are worth more than scrap to someone who has a whitman album and is trying to find fillers.