Hey guys, I've been collecting coins for around three years pretty seriously. In reality, I started in 1998 with wheatbacks and Mercs but now mainly purchase Morgans. My best example is a certified (By ANACS) 1884-CC in MS-63 DMPL. This coin was purchased approximately two years ago at $320. The value according to PCGS is now $350. Not really a jump in value. Obviously the precious metal market has really jumped around in the last two years, but I was just curious if anyone could explain why these higher end coins haven't gone up in price. My other certified Morgans have also stayed around the same as well as my certified Walker Halfs. Any incite would be great. I appreciate it.
When did you purchase the coin......sometimes it takes decades and the price you pay could also hinder the amount you will make. If you are paying redbook prices for your coins then it will take quite a bit longer to make any $$$$ if that is what your intentions are. Most folks around here collect because they love coins. Plain and simple.
By all means. The value of coins is really only secondary to my love of identifying varieties (especially Morgan VAM's). However, its beginning to grow enough that I would be stupid not to at least insure it in case anything happens to the house. Also, I'm not sure if anyone around here collects DMPL with the toning on it, but I almost feel like the toning can get in the way of the mirror-finish of the coin. The coin was purchased in December of 2006. By far, it is my most favorite because its just so beautiful.
Take a look at this Tanker - Morgan & Peace Index - that is what has happened in the past 3 years with the price of Morgan and Peace dollars. It should be self-explanatory.
I notice that you mention the precious metals prices. Coins with collector value of more than their metal value are usually not affected much by the precious metal prices. Especially not $300+ silver dollars like your 1884-CC.
Doug's index explains it all. Price is effected by demand. When a series has literally tens of millions of coins available at all times, demand is met and prices remain somewhat constant. Moragans are a good series to use as an example. If prices fluctuated based on novelty or age itself, nobody could afford them. Guy~
It's not rare or, It's not rare or hard to get in that grade and there are plenty of them. Let me explain, 1st off I don't collect Morgans but one of my partners does. The CC coins are desirable but as far as I can tell only few of the CC coins are hard to find even in mint state. That plus MS-63 is not really what I would consider a "high end coin" for that date - I would have reserved that for (in Morgans) a MS-65 or better. The Morgan silver dollars are a very popular series to collect and there are millions of them around but most of them are not rare even in Mint State. The Morgan dollars were never really used for commerce at all and there was really no "good" reason to coin them except for political interest and help absorbing the silver that was being mined. From what I have heard nobody walked around with them in their pockets. Here is a small list of other coins that I believe would have out-paced your coin some of them 5-to-1 during the same time period. 1. 12-S nickel in GD, VG, and Fine. 2. 16-D and 21-P Winged Liberty head Dime plus the over-dates. 3. 14-D & 22 no "D" Lincoln in any grade. 4. 33-S and 38-D Walking Halves in collector grades. 5. Copper nickel Indian Head Cents in VF-35 to XF. At our show there are tons of MS CC Morgans but not so many of these others to chose from I really never worried about being able to find 09-S VDB or 55 DDO - they are at all shows but the 12-S Nickel in "no problem VG there ain't! Just my opinion of course and always subject to revision. Ben Peters Home of THE KNOXVILLE COIN SHOW
