Are low grade MS 60-1-2-3 morgans ever going to be worth anything. I go to coin shops and there are display cases full of them, The Internet has them cheaper by the dozen. Everytime I read a magazine it has an article about some hoard they found, Binion, Fitz. etc, The mint even found a couple pallets full of carsons. Every collector I know has some. I know high grades are worth alot, but even PCGS has a bunch at $30 or $40 bucks and we all know how pricey they are. Well anyway! Do you think it would be wise to start collecting Barbers,Walkers,etc. and leave my Morgans in the briefcase for 40 or 50 years. I tryed VAM's but thier is way to many.O'Well just my thoughts.
Read this recent thread and perhaps we won't need another lengthy discussion on the difference between investing and collecting, along with investment advice from good-hearted and well meaning folk who aren't licensed to give it.
I was asking dealers the question. I've been collecting for many many years. Everyone wants to see whatever they collect apprieciate in value, Even a COLLECTOR.
Morgan dollars are one of the most common - if not THE most common coins from that era to be found uncirculated. But people collect them like there's no tomorrow. They like them - they're big - they're silver - they're pretty - whatever - they like them. But as long as they can be found in huge numbers - the lower grade Uncs will never be worth much. And as long as they stay popular and large numbers of people collect them - they'll be easy to find in huge numbers.
The short answer is, "No." To put some numbers into the advice of GDJMSP: 1. Congress was lobbied by silver mine owners. The US Mint was forced to strike 2 million ounces per month, from 1878 to 1904. The US melted about 80 million ounces and sent it to Britain for World War I because Britain was in danger of losing India, actually. After Germany paid for all the civilian damages in WWI, Britain repaid the silver and 80 million Morgan Dollars were strike in 1921. 2. Silver dollars were never popular. About one-third of all known are uncirculated. Back then, the average wage was $1 per day. Now, it is $100 per day. So a silver dollar was like a $100 bill. No one used them. "Shave and a haircut, two bits!" (25 cents). What does it cost to go to the barber now? $10? Beer was 5 cents a glass. A dressed chicken was 8 cents. The silver dollar was basically useless for daily trade. 3. "Everyone" likes them now, but there is no shortage of MS-63s in slabs.
"we won't need another lengthy discussion on the difference between investing and collecting, along with investment advice from good-hearted and well meaning folk who aren't licensed to give it". Roy "Goldman Sachs and nine other top investment banks were socked with $1.4 billion in penalties last year for insider trading and conflicts of interest in an aggressive Securities and Exchange Commission move to reform Wall Street practices". Perhaps one should be even more carefull with the sharks who sell their investment advice one way or the other and sometimes both. "A good broker is as important as a good doctor". Some rich guy's quote. I like morgan silver dollars. They always seem to be a good stocking filler at the holidays and sometimes becomes someone's lucky coin that they carry along with them, non-slabbed of course.
Me too! I don't really collect them, but I have a few. My favorite is a well circulated one that I carry when I officiate football or girls' basketball. I use it for the pregame cointoss and I enjoy the looks I get from the kids. Lots of fun!
Morgans are one of the great collectible ideas. I really like Andy's idea of using them as stocking stuffers. Low grade examples can be picked up at $6 to $10 and make a wonderful example of just how coin collecting can bridge the gaps between young and old, rich and poor, and bring us all together for the joy of the hobby. The very low grade make wonderful pocket pieces. They make fantastic tips to give to waitresses or bank tellers. Here is an old pocket piece of mine, now residing with a toll taker at the Bay Bridge in eastern Maryland
That Morgan is showing slight signs of wear /snicker I love the collect-ability of the Morgan dollars. They are one of the greater value coins I have. PR70
