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<p>[QUOTE="Texas John, post: 1190790, member: 25813"]The collector value of a coin is an emotive premium over its intrinsic value.</p><p><br /></p><p>If the coin is a 1921 Peace dollar in VF condition, the price of silver is largely irrelevant to its value. If the coin is a 1921 Morgan dollar in VF condition, then its value is largely determined by the price of silver.</p><p><br /></p><p>The reason for the difference is simple - there are many more 1921 Morgan dollars in VF available at melt price than collectors desire, while there are too few (basically no) 1921 Peace dollars in VF available at melt price than collectors desire.</p><p><br /></p><p>When a silver (or gold) coin is available in quantities beyond collector demand, its intrinsic value determines its worth. When such a coin is not available in quantities beyond collector demand, then collector demand determines its worth.[/QUOTE]</p><p><br /></p>
[QUOTE="Texas John, post: 1190790, member: 25813"]The collector value of a coin is an emotive premium over its intrinsic value. If the coin is a 1921 Peace dollar in VF condition, the price of silver is largely irrelevant to its value. If the coin is a 1921 Morgan dollar in VF condition, then its value is largely determined by the price of silver. The reason for the difference is simple - there are many more 1921 Morgan dollars in VF available at melt price than collectors desire, while there are too few (basically no) 1921 Peace dollars in VF available at melt price than collectors desire. When a silver (or gold) coin is available in quantities beyond collector demand, its intrinsic value determines its worth. When such a coin is not available in quantities beyond collector demand, then collector demand determines its worth.[/QUOTE]
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