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<p>[QUOTE="Juan Blanco, post: 1629844, member: 41665"]Hotpocket-</p><p>I suppose eBay -13% is probably closer to 'market price' for Morgans. Why? Seller's premium is above the (unknown average) trade-price. But these are different things, not contradictions. I would qualify (caution?) that maybe APMEX itself (the dealer's goodwill) has it's own premium. I noted elsewhere - and believe others agreed - that APMEX premiums seem to have risen above some of their competitors since 2009 (when I calc'd prices in a spreadsheet.) It's a first-rate shop, they can command higher prices. I think they probably do.</p><p><br /></p><p>However I think folks here (retail, collectors, you/me) SELLING will most likely get the lowest price, because we don't have goodwill and 'trade rep' to charge that premium. Sell on the 'bay, get "melt" +/-2 after all fees are deducted.</p><p><br /></p><p>But there a small error in my calc above. <i>I didn't account for wear. </i>Looking at those APMEX "Worse Than Cull" coins (punched, gouged, clipped) I think there might be ~-10% coin-weight loss on the junkiest Morgans. Going back to the data (above, same date) this estimate/adjustment for true intrinsic RAISES THE PREMIUM. </p><p><br /></p><p>At full-weight, a Morgan's intrinsic Ag was $24.60 (POS @ 31.80) </p><p><br /></p><p>2/1/2013 on APMEX POS @ 31.80, ASEs (20 random years: 20 ozt) sell @ $36. (+$25. = $745. or <b>$37.25 ozt.</b> ) .... 17.14% premium over POS</p><p><br /></p><p>2/1/2013 on APMEX POS @ 31.80, the lowest Morgans ("WORSE THAN CULL" <b>-10%, UNDERWEIGHT</b>) sell @ $27.66 (+$25. = $719 or <b>$39.73 ozt</b>.) .... <b>24.3% premium</b> over POS</p><p>2/1/2013 on APMEX POS @ 31.80, the lowest Morgans ("CULL" <b>-6%</b>) sell @ $32.1 (+$25. = $836 or <b>$44.23 ozt.</b> ) .... <b>39.1% premium </b>over POS</p><p>2/1/2013 on APMEX POS @ 31.80, the lowest Morgans ("Almost Good" <b>-5%</b>) sell @ $33.66 (+$25. = $875. or <b>$44.76 ozt. </b>) .... <b>44% premium </b>over POS</p><p>2/1/2013 on APMEX POS @ 31.80, the lowest Morgans ("Good or Better" <b>-3%</b>) sell @ $36.66 (+$25. = $953. or <b>$48.86 ozt.</b> ) .... <b>53.6% premium</b> over POS</p><p><br /></p><p>Except for dregs,<b> APMEX looks to be charging a 22% > 37% premium on cull Morgans.</b> </p><p>I should imagine feeBay is much, much cheaper than that. Look at February 1 auctions Sold for comparison.</p><p><br /></p><p>I have no idea how this premium has been fluctuating, but (in this case) APMEX looks really really pricey for old US Ag $1s. IMO.[/QUOTE]</p><p><br /></p>
[QUOTE="Juan Blanco, post: 1629844, member: 41665"]Hotpocket- I suppose eBay -13% is probably closer to 'market price' for Morgans. Why? Seller's premium is above the (unknown average) trade-price. But these are different things, not contradictions. I would qualify (caution?) that maybe APMEX itself (the dealer's goodwill) has it's own premium. I noted elsewhere - and believe others agreed - that APMEX premiums seem to have risen above some of their competitors since 2009 (when I calc'd prices in a spreadsheet.) It's a first-rate shop, they can command higher prices. I think they probably do. However I think folks here (retail, collectors, you/me) SELLING will most likely get the lowest price, because we don't have goodwill and 'trade rep' to charge that premium. Sell on the 'bay, get "melt" +/-2 after all fees are deducted. But there a small error in my calc above. [I]I didn't account for wear. [/I]Looking at those APMEX "Worse Than Cull" coins (punched, gouged, clipped) I think there might be ~-10% coin-weight loss on the junkiest Morgans. Going back to the data (above, same date) this estimate/adjustment for true intrinsic RAISES THE PREMIUM. At full-weight, a Morgan's intrinsic Ag was $24.60 (POS @ 31.80) 2/1/2013 on APMEX POS @ 31.80, ASEs (20 random years: 20 ozt) sell @ $36. (+$25. = $745. or [B]$37.25 ozt.[/B] ) .... 17.14% premium over POS 2/1/2013 on APMEX POS @ 31.80, the lowest Morgans ("WORSE THAN CULL" [B]-10%, UNDERWEIGHT[/B]) sell @ $27.66 (+$25. = $719 or [B]$39.73 ozt[/B].) .... [B]24.3% premium[/B] over POS 2/1/2013 on APMEX POS @ 31.80, the lowest Morgans ("CULL" [B]-6%[/B]) sell @ $32.1 (+$25. = $836 or [B]$44.23 ozt.[/B] ) .... [B]39.1% premium [/B]over POS 2/1/2013 on APMEX POS @ 31.80, the lowest Morgans ("Almost Good" [B]-5%[/B]) sell @ $33.66 (+$25. = $875. or [B]$44.76 ozt. [/B]) .... [B]44% premium [/B]over POS 2/1/2013 on APMEX POS @ 31.80, the lowest Morgans ("Good or Better" [B]-3%[/B]) sell @ $36.66 (+$25. = $953. or [B]$48.86 ozt.[/B] ) .... [B]53.6% premium[/B] over POS Except for dregs,[B] APMEX looks to be charging a 22% > 37% premium on cull Morgans.[/B] I should imagine feeBay is much, much cheaper than that. Look at February 1 auctions Sold for comparison. I have no idea how this premium has been fluctuating, but (in this case) APMEX looks really really pricey for old US Ag $1s. IMO.[/QUOTE]
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