I would like to add a couple of quality (60+) New Orleans mint Morgans to my collection of mainly silver bullion (eagles, pandas, britannias, maple leafs) coins and modern Dollars (Ikes, sac, SBA). The ones I see on ebay seem kind of high priced. My question is are New Orleans mint coins rare and therefore the price reflects that or is it just the time of the year and should I wait until january/february for better prices?
Rare no. In nice condition, for some dates - yes they can be scarce and yes they can be pricey. What is the price you would be expecting to pay or how much is too much ? And no I don't have any to sell. But to answer your question - I need a bit more information.
GDJMSP, I have no special dates in mine, I figure you have to start somewhere? I would like to spend somewhere between $10 - $15. What date/grade should I be looking for in this range? Thanks for moderating this forum!!
Thank you But participating here is a pleasure - this is how I have fun For common date Unc O Morgans ( MS60 - MS62 ) I would expect to pay between $20 - $25 each. And if the coins are slabbed - perhaps even $35. Check this link on ebay for completed auctions - O Morgans I would only trust the prices realized for the coins slabbed by NGC, PCGS, ANACS & ICG if it were me. Hope this helps
A lot of folks think prices usually spike in December and soften in the 2-3 months starting the new year. Having said that, *personally* (and without a crystal ball) I'd wait to buy commonly seen stuff, but for the coins that are more difficult to find, I'd not wait as I wouldn't know when I'd see it again.
silvereagle, Coins from the New Orleans Mint have always been popular with collectors. That's why you sometimes see them sell for more than their counterparts from the Philadelphia Mint, even though the mintage numbers may be similar. The same can be said for Carson City coins, and San Francisco's. Demand sets prices. Take for instance US coins minted at the Manila Mint. Some of those coins have miniscule mintages when compared to their "mainland" counterparts, but due to collector interest, they can be bought for a fraction of the cost.
I call Morgan O's the sloppy mint. San Francisco probably had the best strikes and highest attention to detail whereas New Orlean's quality control was very suspect. From the Whitman book on Morgan Silver Dollars: "...many miilions were struck there [New Orleans] with little attention to quality, and the dies in the presses were spaced slightly farther apart than they should have been. As a result, the metal in the planchets did not flow into the deepest recesses of the dies. Accordingly, it is the rule, not the exception, that many dates of New Orleans dollars there are flat areas at the center of the obverse and the center of the reverse." Bottom line is if you find a nice detailed strike "O" mint in MS64 condition or better, it is a keeper. Many ended up in Bank vaults and were discovered later. The most famous was the 1903-O dollar where in early 1962 this coin was selling for $1500 in Unc. condition and $400 in EF condition. The Philadelphia Mint happens to find a bunch of these dollars in their vaults and releases them causing prices for this dollar to fall from these 1962 high fees to $13 to $15 literally overnight. Today you can get one in 2004 dollars between $350 to $450 for a MS63 or 64 coin.
you aint gonna pick up a morgan dollar for the price your talking about op maybe a 1921 but nothing else
I am confused. There are only a handful of Morgans that are above the $400 range in MS-64. Was there a date in particular that you were referring?
ND, I think Highlander was referring to the prices I original stated I wanted to spend. I have done more research since my original post and and have found out that GDJMSP is accurate in his pricing suggestions.
You will find GD is right in many areas of numismatics. He is truly a resource that all here on the board should take advantage of. He is quick to help, and has a very sharp view of the hobby as a whole. Add to that, a great eye for coins, and you can easily see why I listen and respect his views.
"Yeah, but he needs to do something about that avatar. That thing is scary". Jody __________________ Are those toe bones in his hat. I know down south they eat chicken feet but GD lives up in Utah which is only a few states from Donner's pass where they ate .......
Hmmmmm - I prefer to think of it as accurate, unique and memorable Awwwww now - you guys aint got nuttin to worry about. Least ways not unless I get hongry
