I was searching through some of the silver retailers for some nice looking silver dollars. I'm just curious, where do they get BU Peace and Morgan Dollars in bulk to sell? Any thoughts?! Are they really BU?
They likely buy out estate lots, bank bags, and hand-wrapped rolls for a certain price over melt. If it is marked as BU, it's likely at least an AU-58 (I know that sounds stupid, but I've seen toning make a MS67 quarter look worse than an AU-58 quarter). If you look on places like M. Barr Coins on eBay, they are selling BU 1921 Morgans at $38.92 each, and at the time of writing this, they've sold 4,356 of them. That number is not a joke.
Interesting, I didn't realize there were enough BUs left on the market for large retailers to sell in bulk. I did order some XF/AU Walkers a few years ago at a premium (20 of them), and they looked like the typical harshly washed coins with dark spots around the details, no different than the junk stuff I've picked up over the years online. Pretty disappointing!
I decided to roll the dice and pick up a few "random date" BU Peace Dollars. I'm sure they cherry pick the better dates and mint marks, but it's one of my favorite designs and at $30 each I thought why not?! Just a few years ago my LCS had trays of them for sale at $16 each, I picked up a bunch, but he hasn't gotten them back in stock in quite a while.
