High-Quality Morgans: Why So Expensive ?

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Thanks, IMR.

 

Thanks GD....that's unreal, that you had 3 years with 1 coin only surviving. I'm surprised they released those years instead of auctioning them off directly. Even 40 years ago those coins had to be worth a few thousand dollars in mint state condition.

 

This is definitely the accepted figures from the GSA liquidation, and helps to illustrate how really common 1882, 1883 and 1884cc really are. This is why one needs to be wary of the pricing on those dates, as the survival rate is huge, compared to some other less celebrated Morgans (the 1884-1889S Morgans have lower mintages and lower survival rates relative to the common date CC coins). The big sleepers are 1880cc and 1885cc, as they are not that common, and still affordable. I own all 13 in MS, and some of the dates are extremely tough.

 

Still, their value -- even back then -- had to be much more than the 1884-CC's, right ?

 

Thanks.....I was too young at the time, but with silver probably $5 or less in the early-1970's, even $20 was probably considered steep by non-collectors.

 

I'll keep an eye out for them and look for some MS-graded goodies and GSAs when I have some $$$, thanks !

 

Done....thanks for the great information, that's why I joined this site.

Question: Do you find better deals at big coin shows (i.e., FUN) or smaller regional or local coin shows or maybe even a LCS ?

I always wonder for a popular coin like a MSD if the huge supply at a show leads to decent pricing or if it's outweighed by the huge demand and the fact that you have lots of buyers with cash (or credit cards) and so dealers know they can get a good price if they are patient.

 

It's probably in an upcoming Morgan book I'll buy/read, but why did the Carson City Mint experience such big drops in the numbers above (down to 3,950 by 1890 from 962,000 a few years earlier)?

Was silver already running out ? There was no economic contraction that I am aware of that would have led to such a huge reduction in coins.

 

They need to nap a bit more.....

You are right, they are not quite like the super-expensive, nearly-impossible-to-get MSDs but they are clearly very expensive. I just saw a bunch of 1880-CC MS-65's and the asking price was ABOVE common MSDs in MS-67.

Didn't even want to look at MS-66's and MS-67's, probably looking at a triple or more in each 1-grade increase.

 

I believe those numbers are the GSA Hoard quantities, not the actual mintage.

Rob

 

I think the TV coin hucksters have helped raise prices as well. Those CC numbers matched my A Guide Book Of Morgan Silver Dollars Updated and Revised Edition Q.David Bowers lots of good info in there.

 

Thanks Rob....I'll have to read why the GSA found so many of some years and so few in others.

Roy, good point about the TV coin guys. I've seen info ads and the markups look like they are on the order of 100-200%. AU or low-MS Commons that should sell for $50 being sold for $200 or so.