Why is Morgan Dollar numismatic value dropping?

Well, there was The Great Southern Hoard recently introduced to the market. I believe it was 13,000 New Orleans Mint Morgan Dollars. I figure that had something to do with it along with the other reasons mentioned above.

 

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I figured The Great Southern Hoard recently being introduced to the market had some influence on the downturn, in addition to the other reasons mentioned above. 13,000 New Orleans Mint Morgan Dollars is exciting but it sure doesn't help the population reports.

 

There have been literally millions of Morgan dollars graded between the top TPGs.

13,000 is nothing, unless they are very rare dates or grades. Most hoards aren't.

 

I didn't hear or read anything about any Southern Hoard of Morgan Dollars....most recent one I think is that smallish New York Bank Hoard.

 

Right, I got it....but to me those same dealers buying from Dealer #1 are going to be looking to sell that stuff, so it's NOT in "strong hands."

When you sell to the public, it's in strong hands -- the coin very likely will not be on the market again for years or decades.

I agree with you on the 80% and total profit figures. I'm just looking at it from ultimately dealers want to -- HAVE TO -- sell what they buy whereas coin collectors, the public, and CT members do not. We are willing to hold coins.

 

Makes sense, Doug. But maybe because I have mostly bullion or bulllion+numismatic coins that I have done very little selling. The coins I have sold in recent years was when I needed $$$ for basic living expenses, not to buy other stuff or add to inventory.

 

That's good if the Morgan prices are dropping maybe I can pick up some nice ones for my set lol.

 

I buy nice looking 63 and 64 Ngc / Pcgs graded now and then.

 

I would consider myself a collector but I have ended up with multiples of the same coin, specifically Morgan Dollars, and I can say that it was definitely eye-opening when I went to re-sell them. Some, I did well on, but others I have to admit I got my feelings hurt a little bit lol. I was actually starting to buy common date MS64's and re-sell them online, was clearing maybe $20 each and I enjoyed it. I kept buying more hoping to repeat that and the last few months I've actually gotten stuck with a good bit of them. I'm happy to keep them but I honestly wasn't planning on it. So I agree with you, the market does seem a bit down lately.

 

If real estate is location, location, location....then I think unless you are a dealer focusing on prices hourly or daily that coin collectors want to focus on QUALITY, QUALITY, QUALITY.

Better to go up as high as possible in grade and have a unique coin with fewe competitors than a coin with hundreds or thousands of similar items.

JMHO...and I realize we all can't have ONLY high-quality coins unless we're recently won MegaMillions.

 

I think more and more people are getting savvy to Ebay's inflated prices vs auction houses. You can get your money out of a newbie making mistakes, but as people get educated and start competing with you for stock, this pool dries up a bit.

 

The ASK prices on Ebay where the item goes unsold are quite different price-wise than a real auction with multiple bidders or bids.

And when you add in the 20% buyers fee....S&H.....taxes....etc...the price on HA is no bargain sometimes compared to other online sites. Granted, as I've said before, there is something to be said for being able to view lots of items and then buy/bid with a click. No driving around to OOS coin shops...no long drives OOS or flights OOS to regional or big national coin shows where you are immediately amortizing $500-$1,000 in expenses if you stay overnight 1-3 nigths.

Going to these has other benefits (meeting CT folks !) and provide great educational benefits but there is no guarantee you'll find what you want at the price you want.

I'm getting more intrigued by Great Collections and their 10% buyers fee. I realize Heritage does lots of quality work -- the Platinum Night booklet I picked up on the opening day of the FUN Convention is a treasure-trove of high-quality pics and information -- but I really would like to see some 10% Buyers Fee Special auctions and maybe a lowering of the $19 minimum on some low-priced stuff.

Hey Heritage folks lurking here...there's no law against running a sale, ya know.

 

Morgan’s very common overall unless new influx investors nothing there for you.

Oversupply vs demand.

 

12.5% with a $5 minimum

 

Just a newbie's perspective for what it's worth, which ain't much.

I've always thought Morgans were overpriced and still are. I remember a decade or so ago many of my doctor colleagues were buying lots of them because it was the "cool" thing to do, like smoking overpriced cigars and drinking overpriced whiskey. They had more money than sense. By the way, they are still working to pay off their overpriced mansions, and I am retired posting on CT.
I do enjoy my cigars and whiskey, though.

It just seems to me that there are soooo many of them around. It doesn't take much effort to shop around and find a lower price with all of the slabbed coins and internet technology. It still seems to be a buyers market, which will drive prices lower.

 

Thanks, I thought it was 10%. Misread that from the site or read it from someone who posted wrong information. My mistake nonetheless.

 

It can go to 10% with some payment methods but the standard is 12.5%

 

You have 2 factors driving the price higher and lower in a leveraged situation: the silver bullion angle, and the numismatic investment angle.

Combine them both with the fact that so many coins are under $1,000 and even under $100 and many under $50....you can have LOTS more people both buying and selling en masse.

OTOH...higher-priced gold coins like Saints are less susceptible to the Morgan volaitlity since the higher entry fee for a 1 oz. coin eliminates many small-fry. Add in the scarcity value for some coins or some grades, and it tends to be stronger-hands owning the Saints.