Legislation seeks Morgan and Peace silver dollar bullion coins for 2021

As I understand it, the return period is now SEVEN days. They tightened it down a couple of years ago, as I recall.

 

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except that classic Morgan’s are available in ms grades including many at ms 65 for less than these will cost. These will be minimum $80 with the special ones probably over $100. The demand will be a lot less than you guys think if they go the unlimited route

 

Really interesting post and puts it into perspective.

 

However, there are already millions of them. Sure, those who make their living fleecing collectors by cheating the system, paying others to place orders to steal the coins from collectors who get shut out, then marking them up at outrageous prices, will be hurt if mintages are unlimited, but I am OK with that.

Maybe the mintage might not be as high as with limited mintages, but this is the last coin MCM and their ilk deserve to profit on.

 

No ones cheating anything. If you love having anything you buy from the mint be reduced to bullion with a flight premium the following year by all means advocate for unlimited. Every single time something has been unlimited no one really cares

It’s the same story every time. People like exciting products. If it’s not exciting no one wants it. If it’s exciting they complain if they missed out. Many who complain about it being limited don’t collect moderns anyways or only do so if it’s very limited.

There’s already far more Morgan’s out there than the market can absorb for far cheaper than these will be. Would be nice to have an exciting Morgan for once aside from the unobtainable insanely expensive ones.

 

Actually it looks like they could do that. I went and read the text of the bill. It specifies that they are authorized to issue them beginning Jan 1 2021, but there is no ending date specified. In theory as long as they change the date in accordance to other law, they could produce these forever.

There is also no authorization in the bill to produce proofs of these coins, or striking at diferent mints, or privy marking.

 

https://www.coinworld.com/news/us-coins/congress-approves-design-centennial-2021-silver-dollars

“Uram said that, in discussions with U.S. Mint officials, they indicated options would include issues struck at the Denver, Philadelphia and San Francisco Mints.

Privy marks could be added to specific Morgan dollar issues to pay homage to the silver dollar output at the former Carson City Mint in Nevada and New Orleans Mint in Louisiana.

Uram said discussions included details for Proof and Uncirculated releases, with the possibility for special sets to include coins of different finishes from multiple Mints.”

 

Yes I understand they are having discussions, I'm just saying there is nothing in the legislation that allows it.

 

So...Mr. I have asked you 15 times already if you profit from modern coin flipping or slabbing from the mint and you ignore me, you are saying MCM hiring tens of thousands of non-collectors to obtain limited mint items, (to simply quadruple their price or more on resale to the same collectors who couldn't order because of MCM's own employees), is NOT cheating true collectors who get shut out. Please explain to me how paid employees hoarding all of those issues to the financial benefit of companies is NOT cheating collectors who get shut out of them.

I would LOVE to hear this, (pulls out popcorn).......

 

I think a lot more of these will sell than you think even if they are unlimited. I know some want them to be "limited edition" like everything else so there's excitement but for these I'd rather there be no more excitement than they are being produced to demand. I want to be able to log in two months from when they go on sale and buy a set if I want.

I don't want to have to take a day off from work and plan out a strategy to get what I want, assuming my internet speed allows and there isn't some other catastrophe in my life, for 45 minutes before they're sold out. I'm over that. Fighting their website against hundreds of thousands of greedy people at the same time so that you don't have to pay after market prices is not that great. In fact it's stressful and is not necessary. There's got to be a sweet spot/mintage.

On a side note, I was watching Rick Tomaskas circus on tv last night. He was selling PF70 V75 ASEs for $1500!!! Or two easy payments of $750.

Next up was "hand picked" ungraded, common date, BU Morgan sets that he compiled. The first 5 coin set I priced in my head at about $150 for the five. Nope! $119 A COIN!!! $595 for 5 ungraded, MS63-64 Morgans. These are rare!! He's got a rarity chart to prove it for everything. lol

The 10 coin ungraded Morgan set was over a grand. Somebody's buying these or they wouldn't be on the air. Not saying it's right but it makes the Mint's operation look tame in comparison.

 

There's also nothing in the legislation that doesn't allow it. So what are you getting at? It seems to me if they want to do it they will do it. They're not going to limit the amount of profit they can make off of this occasion. They may be .999 silver as well, which seems to be the route they're taking these days. It just says a minimum of 90% but if it's easier to acquire .999 blanks, that's what they'll be. Should be really interesting what they end up doing. They should be excellent quality.

 

For the billionth time they are following the same rules as anyone else. Anyone can pay other people for their coins if they so chose. Cheating would be hacking the system to get more, or having an inside contact that back doors them to you

You can knock off the true collector nonsense too. You don’t have to be a lemming blindly wishing for products that will immediately lose value to be a “true collector” whatever that’s supposed to mean anyways besides some derogatory attempt at putting others down.

Like I said so many that want these products to just turn into slightly more expensive bullion don’t even collect moderns

 

That’s not that far off from what they cost. They’ve been selling for over 1k at great collections. First day of issue ones have been over 1500.

If it’s unlimited just wait a year and get it well below issue price

 

I hope they sell loads and loads of them that way if I want one I just wait a while and pay less than issue price for it on eBay like many other mint products.

 

If they sell out in mere minutes, doesn't that make them all first day of issue?

 

No. You can get PF70 V75s on ebay for 5 to $600. And no I don't think they're worth that but that's what you have to pay to get one right now.

 

Most of those are NGC presales. The Pcgs are significantly more especially with first strike strike or first day. But yea there are a bunch of small sellers making the mistake of trying true auctions, how many are actually shipping those who knows. I’d bet more than a few of those were canceled and relisted or will end up at an auction house where they’d sell for more

 

I've seen his Double Eagle, Eagle, and Morgan infomercials....the markups on the DE and Eagles tends to run about 25-40% over retail.

I know he has to make some profit...and TV costs money, too....and if people LEARN about this from the excellent information he has and eventually become more purchase-savvy......well, I guess then it's not a bad thing.