Why is Morgan Dollar numismatic value dropping?

Hello, I couldn't help but notice that the price of Morgan Dollars has been dropping for nearly all of them in most grades.

Does anyone know why? Was there a huge hoard of uncirculated Morgans recently discovered? Perhaps it's just commodities in general that are dropping in price and this is just one narrow sighted view of that...

I'm curious what others think.

 

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IMHO, the coin market cycles, and popular US series have been dropping for a while. I've been looking at MS-65 walking halves on E-bay, and common dates look to be selling awfully cheap compared to what they were when I bought some of mine. Same for generic MS Morgans. A falling tide.

I've been playing with the idea of selling some of this kind of thing to pursue more bust material, but I'd sure take a haircut. Not sure if holding on is going to improve things though.

 

It is widely acknowledged that we are in a down-swing in the market right now. Some people think that we hit the bottom late last year and we're starting to swing back up, but nobody can know that for sure.

 

I think people are finally realizing how common they really are. If collectors aren't active hoarding them there is going to be a lot on the marketplace.

 

Maybe just a lack of over all interest from collectors, i really like Morgan dollars
myself, so maybe its time for me to start my collection why they are on the cheap.

 

The crowd at FUN makes me hopeful that this is the case.

 

Does it make sense to ya'all that I should sell my Eagles ( or maybe wait till silver gets to $20?) and then buy slabbed Morgans?

Anyone?

 

Part of the reason may be supply and demand. Morgans have been a popular collector coin. I think the GSA sales a few decades ago stirred up interest with a number of people. Now that these people are part of the aged population more and more are available on the market. Morgans may not have the appeal to today's younger collector. I look at the TPG population reports and there are a lot graded in the MS63-65 range. My gut feeling is that the prices will continue on a downward trend. Only the cream of the crop will hold their value. Of course, just my backwoods opinion which isn't worth much today.

 

Silver Eagles are bullion coins, slabbed Morgan dollars are numismatic coins. They look similar, but their values will change depending on different factors. I would only recommend that you buy slabbed Morgan Dollars if owning them will give you joy as a coin collector. Otherwise, hang onto your Eagles until you need funds or think silver bullion has peaked.

 

I've noticed the drop in Morgan Dollar values too. I am not sure about the reason(s) why, but some dealers that I see at coin shows say that eBay's policy change regarding charging sales tax has been a significant factor in price pullback.

 

Only if you are buying key and semi-key dates.

 

It's just in a downward cycle. Give it time and you'll be asking why is it going up?

 

We might see an upswing in 2021 on the 100th anniversary of the last Morgan and first Peace dollars. The US Mint is supposed to celebrate this with a coin. This should increase interest.

 

I bought a Morgan and a Peace today and was not charged sales tax. I thought BOTH were overpriced. The Peace was $40, the link to the Morgan would not work.

https://www.ebay.com/itm/1890-O-MORGAN-DOLLAR-ANACS-MS-62/193307135888?ssPageName=STRK:MEBIDX:IT&_trksid=p2057872.m2749.l2649

 

I noticed this while tracking the 1885CC. I have wanted one for awhile but never pulled the trigger because of the drop in price. I will probably get one this year.

 

edited

This seems to me to be a durn good indicator of how down the market is...Spark

 

Well they are certainly no more in circulation since circulated silver dollars dried up about 60 years ago. So all Morgan’s and peace dollars are in private hands at this point (Except for any undiscovered Hoards). So if the price fluctuates, causing any swing up or down, it must be because collectors are now selling them.

 

It has been my experience that the Morgan Dollar has been the most popular U.S. for people who have money to spend on collector coins. It is also, by far, the most common 19th century U.S. coin. Many date and mint mark combinations are available in Mint State, often MS-63 and higher.

The reasons for this are that the coin was made in huge quantities in the 19th century because of the political influence of the silver producers. Except in the western states, most people didn’t want the coins because they were too heavy and inconvenient to use. Therefore, they piled up in huge quantities in government vaults with many coins in Mint State condition. A large number of them were melted in 1918 as mandated by the Pitman Act, but the remaining supply was still huge.

There are really no rare Morgan Dollar date and mint combinations. Even “rare dates,” like the 1893-S, are not that rare, except perhaps Choice Mint State. I knew a dealer years ago who regularly had 12 or more of them in stock, in a wide assortment of grades. That coin, and the rest of the key dates are always available for a price.

Given the large supply, it’s not surprising that prices go down when the demand for the coins drops. Fewer collectors are chasing them these days, and many of the older collectors who supported the market have died or have left the market. Their withdrawal from the market often results in more pieces coming up sale, which depresses prices further.