Silver has dropped, but not the price of Morgan dollars.

Spot on, I could not agree more :thumb:

 

Log in or Sign up to hide this ad.

I remarked very recently in another thread that at most (although not all) of the local coin shops the premium over silver content value on common date, circulated Morgans seems to have risen to about $10-12 (that may have gone up further as of today). Uncirculated examples are commanding more than that, but not much, surprisingly. A year ago, I was buying raw AU/UNC Morgans for as little as a $5 premium. The curent hike in the premium seems to me to be related to how much many of these dealers paid for their stock when the price of silver was much higher, and their subsequent reluctance to take a loss under current market conditions.

With today's dramatic decline in the price of silver (and gold, too), I'm wondering what the sentiment and activity will be like at any coin shows scheduled for this weekend. Perhaps attendees can report on this.

 

Other than to answer North Korea's post, there is really nothing he could say other than to show this was not just another one of his hit and run threads. Even when complaining most seem to be nothing more than an obvious observation or two that end with a supposed question to which he already knows the answer or is already out of mind by the time anyone answers it.

I too assume that Tim is likely bothered because he either cannot buy for resale on ebay, or that ebay's prices are more than he wishes to pay. Unfortunately, it's always a lose-lose when the entire world conspires to keep you down.

 

I guess that I too must have a complete lack of understanding of human nature, business and numismatic history, as I have been wondering the same thing...

I have been waiting for Peace and Morgans to slide even a little. They are holding more stubbornly than gum on my shoe...

It is not just eBay, but many LCS's are hold prices high.

 

Any smart coin dealers that I know bought morgan and peace silver dollars at the high silver prices would have a source to sell them to days after they got them knowing that the prices could drop at any time,,which is the way to do things in a uncertain market and as far as the sellers on ebay and other coin dealers they are just trying to make as much money as possible on the silver. If the price of silver holds at $20 or less then its only a matter of a month or two is when you will start seeing dealers sell the common silver dollars that would reflect the silver spot price.......so its a wait and see thing.

 

If you post in the WTB section, you'll be likely able to get Morgan/Peace dollars for $20-$25.

 

My LCS has generic oz rounds for $2.50 over spot right now. They had Morgans at 23$ last week, this week, completely out. Said they'd have more in soon.

 

I think that part of the premium on Morgans right now is the recent popularity of the series as a whole. I collect them mainly in MS-63 (or higher when I can afford it), and have enjoyed watching the prices on many i need yet go straight out of my budget. The lower grade commons will likely drop before the rest of the series does, but it might be a sign I can start to think about filling some holes again!