I did a search on the subject and did not quite get the answer so here goes. Like the post titled bucket of Morgans, I too found a little shop with common Morgans piled inside. The price was $8.00 each. Found several early dates up to 21's. Condition averaged EF on most with some tarnished or heavily toned. A few were much better. The melt value would be .75 of the price of an ounce so that would make them worth at least $5.50 I was thinking about buying the rest since I picked up about 10 already. What do you think?
If you're looking for an investment, try something else. If you just love having lots of Morgans, go for it.
Howdy victor23 - Welcome to the Forum !! I would agree with Roy. Morgans are actually one of the most common coins around. And MS examples of many dates are relatively inexspensive - $30 - $40 each. So if you really want Morgans - for every 4 or 5 of those from the bucket will buy you an MS coin.
Ohhh... the bucket of Morgans. I stopped by that place about a month ago. The bucket had three coins in it. I was desperate and bought one of them. Check out this nasty looking Peace dollar. It's even more colorful in hand... deep oak, walnut, and mahogany colors. I have several of those Morgans left over from that original $8/coin purchase. I got lucky on a few that were VAMs, but most I've been giving away (gifts, tips, nephew coin collector, etc). I came across another place with similar prices. The Morgans were all $8, $10, or $12. Most 1921's (PDS) in EF or better. I picked up quite a few, but passed on most. My opinion would be to try to cherry pick some out of the lot (VAMs, better dates, toned, 21-D die breaks), sell them, and buy some MS Morgans. Here's the Peace dollar...
Peace dollars - the Churchill crowns of their day. Seriously, IMHO this one abuses the privilege of being ugly.
Never did care for Peace Dollars either. As for the bucket of Morgans at $8 each. Every now and then, I buy them and give one or two to my niece and nephews. I like watching their eyes when they hold a "real old" coin. Heck, they think that a 1971 penny is really old! But remember, spend your money for yourself on quality as these common Morgans will always be common and will sell a buck or two over the melt value. A common date MS Morgan can easily be picked up for $30 to $35 in MS63 condition. Go for the "pretty" high quality Morgans for as the Coin Vault guys state on Home Shopping... "These MS63 or better Morgans represent just 1% of the remaining Morgans left in the world!" I don't know how true those numbers are, but good stuff will always be something while the junk pail will only be worth melt value plus a couple bucks.
nesvt, I know cleaning coins is frowned up on by the "fraternity", but on this coin I think a cleaning is in order!
