What is a good price to pay for common circulated Morgan dollars?

I apologize if this gets asked all the time. I know that common circulated Morgans on average contain .765 troy oz silver, and I have been multiplying this number by the current spot to arrive at a base price. According to my calculations the actual cost of the coin should be around $21.

I am wondering what is a good price to look for when purchasing from coin dealers (how much markup would the average dealer add to the cost?) .

I am also interested in hearing your opinions on whether Morgan dollars are a good or bad choice if I wanted to invest in silver.

Thanks!

 

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Don't know what average circulated grade you are looking for, but common G Morgans can probably be found at around $25 or so.

 

APMEX prices should give you a rough estimate pending condition.

http://www.apmex.com/Category/161/Bulk_Silver_Dollars_1878_1935.aspx

You could probably find cheaper in dealer junk boxes or holed/slick culls.

 

I remember going to a local coin show last year this time, circ morgans were going for $15.00 . Imagine that.

 

I remember when a vending machine dispensed a pack of cigarettes for thirty-five cents, and didn't care how old you were.

 

I remember that too. And the 10 cent candy dispenser as well, 5 cents for gum. I also remember the fancy ones at the hotels that would sell you AUTHENTIC Confederate Currency replicas for a buck fifty. A WHOLE package of them.

 

I still see common circulated morgan (and peace) dollars for $18 and up. I don't think those will be around much longer though. lol

 

2 bucks above melt

 

I think anything under $25 each is a decent deal. As for investing in 90% silver, Morgans are probably going to be your best investment for common grade circulated silver, if silver drops any time in the future. But, this is my opinion.

 

$18!! Snatch those baby's up as that's under melt. That's close to what most dealers are paying now I think.

 

With melt above $21 I have seen the common bins going for $26 to $27.

 

The current issue of Coin World has ads from dealers who are paying up to $22 for common Morgan and Peace dollars in low grade.

 

I think common date avg circulated Morgans (G-VF) are a great way to play silver bullion. The mark-up is typically less than what you'll see on American Silver Eagles. With spot silver currently at $27/oz melt value is around $21/coin, I've been able to pick them up in bulk (20 coins or more) for melt to $1 above melt within the last month.

For 1921 Morgans you'll probably get closer to melt. For 1904 and prior you might have to pay a slight premium.

Some dealers might charge you a little more especially if you're only buying a few coins. But I would still call anything below $25 reasonable in the current market.

 

Thank you for all of the excellent responses! I didn't expect so much useful information. I was able to find some for $20 this past weekend, we'll see how long that lasts...