Well I sold all my Morgans to fund my completion of my ASE set. I did the math and I figured I would be able to complete my ASE set LONG before my morgans, so I took the money and bought 6 proof ASE's today at what I think was a very good price. I got a 91 92 93 94 97 and a 2000 all for $45 each except one which was $60. Only need a few more and the set will be done. I know ASE are not hard to come by but the challenge is getting them at a good price!
That is a good price for proof silver eagles. The 93, 94, and I think the 97 are generally more expensive, and the common dates are going for around $60 each now. Congrats. I am looking to finish my collection also, but the increase in silver had me put it on hold for a while. I already have the 93, 94, and 95.
Thanks, I thought they were good prices and the 93 94 & 97 do show in red book as normally having a good premium. The bay is going for about 60 for common dates and above 80 for the lower mintage years. I paid 60 just last week in Charlotte.
Well I do think the mintage levels back you up as making a good choice on that. Espcially if the Morgans were all bagged-up or circulated in any way.
but the Morgan's have some historical significance at least and while not rare it would seem that from a coin collecting standpoint the Morgans would have been the coins to keep and the ASE's would have been the "coins" to sell? Not saying you have to conform to what others prefer.....I just couldn't give up Morgans for bullion but do what makes you happy.
Well that is what makes markets, different wants and needs right? Sorry, but since so many morgans simply sat in vaults for 80 years, I do not really consider them much different than ASE's. The date may read 1881, but that coin probably never saw daylight until 1963, and even then directly from a bank vault to a coin holder. Lol, I feel you Krypton, I would not trade an older coin for an ASE either, but then again I would not trade an ancient Roman for a morgan either. Different strokes buddy. I am happy Coinut got what he was wanting to collect and is happy. Chris
I guess I am a little different than some as I collect just Proof ASE's and I collect for their beauty and not for bullion. I have lots of historical coins including ancients but as I don't have the money to finish my Morgan set and I do for the ASE set I chose to go that route. I hope to be able to resume my Morgan's when my finances improve.
No apologies needed man. Its a hobby, and you bought what made you happy. No one should judge that. Good job!
If the Morgans were only worth melt anyway, then I don't see the difference. And proof ASE's are a little bit more than just bullion. They are collectible, and they are beautifull coins. Congrats on adding to your collection. Now, if they had been bu Morgans, or had been passed down through the family, I don't think I could have parted with them. I hate selling coins in general. But in your case it sounds like you did the right thing for your personal collection.
From a "coin collecting" aspect, common date Morgans are just as plentiful at ASE's with very little significance from a historical perspective unless they are high grade, collected Morgans. Some of these are even traded and bought as "common bullion". Go into any coin shop, ask for some common Morgan Dollars and the price ALWAYS revolves around "Well silver melt is at X so I gotta charge you Y since they are 90% Silver. Thats a bullion sale. I think the OP made a wise decision by selling the bullion he knew he could not, or did not want, to complete as a coin collection and buying something he felt he could complete and appreciate. Now the only question is, will he be happy with PR69DCAM or will he go the distance for some PR70DCAMs?
I don't think it makes a difference since he sold silver to buy more silver. He got a great deal on those proofs so I think he did very well.
Well I am considering going back and picking up the rest of the ASE's my dealer has as I can get the rest at $45 each, all in the OMP w/ COA.
Whatever makes you happy. That's what the hobby is all about, right? Now if you had sold all of your PCGS MS65 Morgans to buy ASEs you might deserve some criticism, but common date worn Morgans for proof ASEs sounds reasonable if it makes you happy. I suspect when my heirs sell my coins, the only one who will be making a profit will be the coin dealer who buys them, so might as well enjoy the hobby now.
LOL I'll trade 2 ancient romans for a morgan right now! Darn right different strokes.. I been looking at those silver eagles recently and have been thinking about maybe trying to put together a set. We'll see. Good post.
