Why are people paying retail prices on all auctions i have 3 magazines and grey sheets if a 1921 peace is in pcgs Ms 64 @ 935.00 i have been reading pay no more than 350-400 for it Morgan 1921S Ms 65 no more 700-750 and all other coins Maybe i wrong someone let me know Thanks Col.Gjg
First, welcome to the forum. Second, what have you been reading? The current (Coin World) trends for a 1921 Peace in MS-64 is $1100. So, to expect to pay $350 to $400 fr it seems very unrealistic. I don't have a current grey sheet, anyone out there can you chime in? But: $350 = 31% of Trends $400 = 36% of Trends I'd love to buy at those prices. What & where have you been reading?
A 1921 Peace dollar in MS-64 has a Bid listing of $780 in the greysheet. For a coin of that value I wouldn't even consider buying it unless it was in a major TPG slab. There's something wrong if you can get it for $350-400. Here's a well-used phrase that nevertheless remains true. "If it seem to good to be true, it probably is."
i read this a few weeks ago 10 Solid Buys for 2009 1. 1921- S Morgan Dollar in MS64: This coin has always represented good value. The mintage is high, but about half that of the 1921 Philadelphia mint issues. The MS64’s are great buys as gems are tough and the jump in price is huge. You can pick up MS64’s for about $150, but MS65’s jump to over $700. I would have a few of these in your collection as they are inexpensive, but great value. 2. 1923-S Peace Dollar in MS64: This is another coin that represents great value and is highly underrated in MS64. You can buy 64’s for about $250-300, but MS65’s jump to over $3500! 3. 1932-P Washington Quarter MS64-66: These coins have great potential in that it’s the first year of type, the D and S mints are already keys and the value in these three grades is solid across the board. The 64’s are only $75-90, 65’s are only $350-400 and MS66’s jump to around $1500, if you can find one. Out of all three grades the MS66 is the best bet, but any of the three grades should do well down the road. 4. 1878 Indian Cent: In any grade, this coin is overlooked by the collecting community. The 1877 is, of course, the king of the set, but the 1878 is a relatively low mintage date in comparison to any other date (roughly 5.8 million minted, the 1871 and 1872 are lower of course, but their prices are much higher). This coin is simply underrated and you can pick up a nice uncirculated example in 63-65 Red Brown or Red for $400-2000. The circulated dates would be good to accumulate as well. 5. 1916 Standing Liberty Quarter: This classic key date is a great coin from all aspects. It’s the first year of issue, already a must-have for collectors and has an amazingly low mintage of just 52,000 coins, unheard of for 20th Century issues! This is a great coin and low condition examples can still be found for under $10,000. The VF20-30 coins are a nice, affordable range and offer strong detail. The Full Head examples are really pricey as this date came with a weak strike. The full-head designations have already hit strong premiums and a solid non-full head would represent the better buy at this time. 6. 1856-1866 Seated Half Dollars: These coins are simply great value. They represent lower mintages (the highest mintage from this date range is the 1858-O, with a mintag eof 7.3 million) with the majority of the dates having less than 1 million issued, with many having less than 500,000! Nice, certified coins in grades VF-63 would be solid additions to any collection! 7. Trade Dollars: Trade dollars have always been a popular collectible, but these are poised to take off in the near future. There have been a number of collectors starting to collect these as varieties, like the VAM varieties for Morgan and Peace dollars. This growing population of collectors will eventually make this series even more interesting and popular among average collectors as the varieties become more notable and mainstream. The good buy is nice XF-63 coins and buy any date, even multiples. 8. 1850 $20 Liberty Gold: This is a great coin that represents strong value in grades VF-AU55. The 1850 is the first collectible date in the $20 gold series. With type collectors needing a Liberty Head and Saint Gaudens, they are alway looking for a nice, affordable piece and always the popular first year of issue (the 1849 was minted as a pattern and resides at the Smithsonian). In these lower grades this coin can be purchased from $1000-3500, then jumps to over $7,000 in AU58! If you only buy one Liberty $20 for your collection, make it the 1850. 9. 1909-S VDB Lincoln Cent: The classic key date of any collection, the popularity of this transcends coin collecting and is a good buy for any portfolio. Readily for sale even in full red, the Red Browns can be just as attractive and represent solid value. The RB’s are the way to go in uncirculated grades. Any circulated grade is good to have as well. The popularity and demand for this date will provide consistent increases in the years to come and every collection should have at least one! 10. Booker T. Washington Commemoratives: These coins are the most underrated Silver Commemorative issues in the series and are great buys all the way up to MS66 grades. The following dates are the ones to buy: 1947-PDS, 1948-PDS, 1949-PDS, 1950-PD, and 1951-DS. MS66’s can be bought from $200-700, but MS67’s jump to $1500-2000. Also, in many cases, the MS65’s sell for under $100! The key about these coins are the ultra-low mintages. 1947’s have mintages of 6,000 per mint, 1948’s have mintages of 8,005 per mint, 1949’s have mintages of 6,004 coins per mint! Look at other more modern coins that have low mintages and their selling prices and you will easily see why these are great value. For example, the 1999 Proof Silver State quarters sell for $300 a set and they have mintages of over 800,000 per issue! You can find sets of 1947 BTW’s in MS64 for under $200!
I only track slabbed PCGS coins on my website. But I show an average sale price for ms64 @ $783 and ms63 @ $450 http://cointrends.org/price.php?cointype=peace_dollar&coingrade=60-70
As to your question about auctions. Try to remember that any auction may well be spiked with ringers. That is a person or persons that work for auction houses to keep the bidding high. If your there in person you may be able to spot them. If on the internet, you have no idea of what is going on with an auction. You bid and who knows what is happening next and by whom. Many people get caught up in a bidding frenzy and autioneers know this. Just know your prices and don't go over what you wanted to pay.
Col, I think you're confused as to type. A 1921 Morgan dollar is a common coin, certain mint marks get pricey in higher grades. A 1921 Peace Dollar is a key date coin and rather expensive.
