When I was watching Barry Chappell the other day and he was talking about the Morgan dollar series. He was saying the he believes popularity for these coins is going to go way up in the coming years and the demand will be huge. He thinks it will start within the next year and within five years from now people will be shocked at the prices of the coins, common dates and less than BU coins as well. I think he could be right because of the huge increase in popularity of PMs the last year to two years, especially silver. And I think for a lot of people that start stacking silver they will gradually transition over to numismatics, that's what happened to me anyways, and for a lot of those people Morgans are going to be VERY attractive coins. What are all of your thoughts?
Idk. You're talking about people and PMs. While some like you said will transition to numismatics, most people (especially Americans) are reactionary. There only interest in the pm is due to the economy. When things improve, I think the majority will just go back to paper/plastic/spending and leave all this pm/coin rush behind. I just don't think the "genuine collector/numismatist" is there for most.
How else do you expect him to sell his overpriced common-date stuff? Do you think a new car salesman would sell many cars if he said, "Well, 5 years down the road, your $50K car won't be running so good and the gas mileage will drop by a third."? Chris
I don't disagree that once the economy improves people will forget about PMs, but not all of them. I think a good amount of people will get interested in coin collecting.
I realize he is just trying to sell his coins, which are over-priced, but I can see him being right about this. I usually just ignore everything those guys say on TV when they're trying to push certain coins, but what he said about Morgan's got me thinking and I just wanted to know some other people's thoughts are here.
True, but not enough to cause a crazy rush/hoard on Morgan's. One there are a lot of Morgan's and two when/if PMs plummet again and you get 10-15(or less) dollar Morgan's people won't want to hoard them because of their cheapness.
Its one thing to enjoy band of brothers, it's something different to go to school to be a historian. Coins are no different, to say its shiny and to really love it is something different.
I think if you would stick with lower mintage Morgans, such as the Carson Citys or other better dates you will be fine in the future. As far as common dates most will trade with the price of silver as to their value. The only expection might be coins of such a high grade that the grade makes them rare and hard to find. Jim
And the higher prices will also cause a lot to sell out and leave. The big run up in silver prices in 79 and 80 didn't create a lot of collectors, and the people pushing silver back then made the same claims.
There is a reason that you don't hear coin promoters say: "Hurry up now we only 10,000 of these Vermont Coppers in stock." They have no choice but to hawk the virtues of common coins. They have air time and staff to pay. So they need endless cash flow which means they need to endlessly roll their inventory, which mean they must constantly replenish inventory. David Bowers has said numerous times that selling rare coins is easy. It's the buying part that's hard. "Rare coins are not common. Common coins are not rare." John Kamin
Exactly, high prices tend to produce more sellers which keeps prices in balance. I fall into that category. I am a Lincoln collector with a good number of Morgans. If the price goes up significantly, I'll be a seller as I have little interest in Morgans. I was having this discussion with my dealer a couple years ago....we both agreed that common date, avg MS Morgans have been ~$30 for a LONG, LONG time regardless of silver spot price.
