The Official Morgan Silver Dollar Thread

You do realize this is a public forum right

 

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Thanks Frank.

OCD = Obsessive Compulsive Disorder...

I bought that coin in Nov '13 off eBay. I paid <$1300 for it.

NGC price guide says date/mm/designation/grade is $1850. Here's the rub, NGC has only graded 63 of the same and only 37 higher. So with so few to choose from, IMO, there is not enough pricing data to definitively nail down a price. It's a matter of timing as to what you are going to pay.

Checking Heritage, in 2014, a very nice GSA same date/mm/designation/grade sold for $1175. But in '08 another sold for $1725. IMO, the one that sold in 2008 is inferior to the one that sold in 2014. They don't have a lot of sales of this date/mm/grade/designation in GSA holders.

That's why, IMO, collecting nice DPL's in GSA holders is a lot of fun. When you see one you want, you need to pull the trigger. Unlike many other Morgans, you just don't know when another will come around.

 

I honestly think it would go for price guide or higher.

 

Just trying to be a good public citizen.

 

JPC and others, I trust some of you remember or read about what some of your Morgans sold for in 1989-90. Prices were set by the old Crazy Electronics chain....they were insane.

Check this out from some book that caught my attention:

 

Agreed....and there's a reason for that, IMO. The thing today is that even though there may be FEWER coin collectors than decades ago thanks to many other pursuits for kids and young adults....there are more collectors with Big $$$ who can add choice coins.

Decades ago, you had to be rich or a businessman or an heir to collect expensive Morgans or Saints. Today, all you need is to have worked at Facebook or Amazon for a few years.

Premium coins just aren't sold like the more liquid ones a few grades lower. If those Langbord Saints ever hit the market, they'll be sold every few years, if that. Anybody who can buy those coins for millions will not need the money if the coin doubles in value in 6 months or 6 years.

 

Interesting information Frank. I can't remember the exact reason for this spike, but might it have something to do with the Hunt Brothers?

I hope someone who was an active collector at that time can chime in.

 

Doug or @Conder101 explained it a while ago. In brief, I think it had to do with a wall street investment play. After slabs came out pcgs was really touting the investable nature of tpg slabbed coins then wall street got on board and created a bubble that only lasted a couple years in the late 80s and crashed hard

The hunt brothers were billionaires that in the late 70s / early 80s tried to corner the market and buy every bit of silver they could to set the price. It was an epic failure that almost bankrupted them.

It's amazing that with all that volitility in the 80s that coin collecting really started taking off in the 90s. And exploded in the early 2000s. Thank god for al gore creating the Internet

 

I have some articles that talk about it and actually created a thread on this at some other sites I belong to, JCP. If folks want to see the articles and commentary, I can replicate it here.

Short story: it wasn't the Hunt's cornering the silver market (that was 1979-80), but a bubble/spike in generic coins (mostly Saints and Morgans) in 1988-1990 that was a result of two factors.

First, the emergence of the TPGs. By grading the coins, it led to greater assurance that you knew what you were buying AND a more liquid market. PCGS (1986) and NGC (1987) both commenced operations right before the spike.

Second, the belief that big Wall Street $$$ were going to come into the coin market after the 1987 Stock Market Crash. A small amount came into the coin market in 1987-88 but a few big brokerage firms were said to be readying hundreds of millions to plow into coins. Dealers and collectors tried to jump their move and bought anything and everything of quality.

 

Need a couple of "expert" opinions on the grade of this one. I wont hold anybody accountable to any opinion! I am figuring this is somewhere between an EF35 and an EF40. What do you think?

 

Vf 30-35... I would soak it in pure acetone and all that yellow discoloration may be removed. Looks like possible old tape residue

 

The TPGs really did help the market. The only good thing about the Coin Bubble was that it happened early in the TPG history and right after the stock market crash. Had it happened 10-15 years later, it would have taken decades to recover from or maybe we wouldn't have recovered (see, Baseball Cards).

The internet, Ebay, and online auction and other sites also helped. So much more information readily available. Much of it not good...some of it fraudulent, some of it deceptive...but overall, a net plus.

 

No better than VF 30. Strong wear in the hair on the obverse, and noticeable wear on the eagle feathers.

 

Curious on a little info/walue of this Morgan dollar. Dont know what STB means.

 

Thanks. I see price wise it doesn't make much, if any, difference between a 30 and a 40. If I do the acetone, will it make it drop to a 20?

I am a newbie..thanks for the help.

 

...by the way, what's with the 2 heads of broccoli in her hair near the "liberty"?

 

All it can do is help in this case really as it is what it is. And that's a $20-25 coin realistically speaking so you can't really harm its value even by putting a bullet hole in it. Actually a bullet hole might make it sell for a little more. That said though unless you have other coins you want to use acetone on or want it for future use then the $6-8 for a quart wouldn't make sense for just this one coin

 

I'll try it. I have some in the garage. I have more chemicals in my garage than I have brains! Has anyone ever tried/used lacquer thinner?

PS-- do you think I should shoot it? I could make up a great Billy the Kid story! haha

 

Absolutely, Mic....just a question of how many traits I can add to a certain year and mintage and condition before the price gets TOO high.

Still waiting for that Powerball fix to make my choosing alot easier......

 

I sent in an offer -- a "stink bid" if you will -- and got countered with the guy minisculely coming off his price. I saw another 1884-O MS63 DMPL on Heritage go for $200 so I wasn't coming anywhere near his asking price:

http://www.ebay.com/itm/311429929789?_trksid=p2055359.m2763.l2649&ssPageName=STRK:MEBIDX:IT

Any commentary pro or con appreciated.