1880 Morgan Dollar Value?

Another question..lol..I have a 1880 morgan dollar its a beautiful coin! I would say its probably in VF-20 condition...how much would this be worth?


Sadly i have no picture im currently on vacation..even if i did i dont have a good camera

 

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about $25

 

Melt value only.

It's a common Morgan.

$22.07

 

APMEX is giving $26.00 for a VF Morgan Dollar. Don't sell Pre 21 Morgans for Scrap, especially if they are above VG Condition. They always command a premium over the spot value!

 

Agreed. An 1880 in that condition is only worth melt.

 

There are many factors, for that premium over spot assessment that you speak of, which must be present.

Key dates, rareties, VAMS, PL, DMPL designations from TPGs, etc.

A common date Morgan, such as the OPs, in VF is worth only melt value.

 

I disagree with that. I have dealers in my area who will pay over silver value (usually $1.00 to $1.50 over) for silver dollars in VF Condition. They want good quality items and are willing to pay a bit more considering silver is lower and they think it will go back up. If you are even thinking of selling, I would personally wait... It's a great time to buy silver if you can get it for silver dollar melt value right now, but I don't think anyone is wanting to sell for that ($21.50ish I think right now)

 

B&Ms don't pay over spot for silver coins worth melt, I find it hard to believe any dealers are either. Their buy price is as much as $2.50 under spot, which currently is $21.66.

 

Agreed! They are historical items, not something to be thrown in the big silver melting pot. I hate it when someone says "it's only worth melt". If I ever see someone melt down, or send to a refiner, a problem free Morgan dollar, I will slap them with a 40 pound salmon.

I have never, in 10 years of attending auctions, flea markets, coin auctions, etc, have seen a problem free Morgan dollar sell for melt. A premium was always paid for them.

 

Thanks Detecto. I know when I buy Morgans, I ususally hope to pay scrap for nice Morgans, but I am usually willing to pay a dollar or so over for them. I can usually get about $2.50 over spot for a VF Morgan... And yes BUncirculated, some dealers would pay $2.50 under melt for them but I posted earlier that APMEX, one of the nations leading precious metals buyers is paying quite a premium for them... about $4.00 over spot at the moment.

http://www.apmex.com/Product/161/1878_1904_Morgan_Silver_Dollar___VG___VF.aspx​

 

By the time you pay shipping, you've lost that "premium". ​

 

Buy Price: $25.52
* This is the price APMEX will pay you when selling your items to APMEX. Subject to certain minimums.

APMEX is buying at $4.00 over the spot value of the silver dollar. A silver dollar doesn't have $27.83 in silver in it but $21.52 in it. So they are PAYING a premium of $4.00... They are trying to sell them for about an $8.50 premium (a bit high) but still they are willing to buy at $4.00 over the melt. This is where I sell my silver dollars when I accumulate enough of them (takes some time) but well worth it in the end...

 

I understand that.

As I said, once you pay the shipping to send APMEX your melt value silver dollars, that premium is reduced. You also can't sell only 1 silver dollar to them as they have minimum amounts you must sell to them.

And the current price of silver is $27.97, the amount of silver in a 90% silver dollar is .77344 ounces. Current melt value would be 21.63, which fluctuates with the trading of silver on the market.

 

You are correct. Typically they want a $1000 minimum. I didn't mean to sound rude during any of the posting either because I respect what you have to say. I just want to make the point that there are buyers for Morgan dollars like the 1880 that are willing to pay a bit over spot value (premiums reduced with shipping) and they shouldn't be sold for "scrap" value themselves.

 

I'm not taking anything you're posting as being rude. I was merely pointing out that your original post with the general statement that silver dollars always command a premium over spot is not entirely accurate as there are, as in APMEX's case, restrictions on those premiums, including what I pointed out with key dates, rarities, VAMS, PL and DMPL designations, etc.

The 1880 is a common date Morgan, 12,600,000 struck that year in Philly, and the OP's assessment of grade, places this at the low end of the spectrum and most dealers and B&Ms would offer as much as $2.50 under spot, and if he retailed it himself, he could get slightly more than spot.

 

Okay good! The 1880 is a very common coin and most dealers would probably be at $2.50 under spot. For PrezCoins.. I suggest that you attempt to get the spot price at least for your coin if you're interested in selling it..

 

Hi guys and gals! New to this site. I just had a few questions. I am considering buying Morgan/Peace Silver dollars. Which site is best? Apmex, ICoin, or the US mint? I know the coins seem to be more expensive on ICoin. I do realize they don't deal in bulk like apmex. Also many years ago, I sold 10 Morgans of various dates(which I don't remember) to a coin dealer. I was a dumb kid and just wanted some quick cash. Now I am thinking I might have given away a valuable coin! They were all circulated, and a few were in fine condition. I think they were all common dates, as they were given to me by my grandmother. He gave me $10 per coin. I am just concerned that I gave away thousands of dollars worth of Morgans for $100, is that a possibility? Again, this was 20 years ago, silver was worth a lot less, and most of the coins were in good to fine condition. I know there are only a few rare dates. Most of mine were 1878 to 1880's. I just am afraid I gave a lot of money away. Maybe a few thousand dollars. Thanks for your input.

 

I just have a question. I am wondering where is the best place online to get Morgan silver dollars. APMEX, ICOIN, or the US. MINT website. Also about twenty years ago, I sold some Morgan's to a dealer for some quick cash. I was a dumb kid and didn't know the value of the coins I was selling. None of them were BUC, they ranged from good to fine. Most of the dates were from 1878 to 1880's. I don't believe any of them were rare dates, as I got the coins from my grandmother. But I am concerned. I sold him 10 Morgan's and he gave me $10 each. I am just concerned that I gave away, a few thousand dollars worth of Morgan's for a lousy $100. I don't remember the dates, or if I had any rare one's. Just wish I had the coins so I could go over each date and figure out approx. value. Again....no were un-circulated. They I had a few in find to perhaps very find condition. I know there are a few rare dates, like 1894 or 1896. I don't know if I had them. I probably gave away $500 to $2000 for a lousy 100. Don't know. Just curious what guys with more experience have to think about this. Thanks

 

First off, welcome to Coin Talk.

Secondly, the U.S. Mint does not sell Morgans or Peace dollars as they are discontinued designs, and have been since 1921 for the Morgans and 1935 for the Peace dollars.

Buying from APMEX I don't recommend as their prices are higher than you could find from a dealer near you. Current APMEX price for uncertified Morgans is $27.50 plus shipping costs each. Current melt value of Morgans, and Peace dollars, is $22.18 and can be had for as much as $2.50 over that price, retail. APMEX is more than $5 over spot.

 

wait its only worth 2.50.... why should i keep it then!?