Does the Morgan 1878-1904 still have a collector value?

They seem to be ignored in recent sales.

 

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Yes. Lots of collectors

 

It used to be the most collected US coin. Then the ASE came on the scene.

 

One of the reasons I stopped buying them is due to the fact that many collectors are looking to get Dealer prices for their coins. For example, if a dealer lists a coin for $200, a collector wanting to sell the exact same coin, IMO, should be willing to sell for at least 10-15% lower. But, many don't.

 

Is that really true? I would have expected Lincoln cents or Buffalo nickels to be more popular than Morgans.

 

Popularity is a relative term. There are so many more collectors looking for pennies and nickels. The Morgan's are popular, but with a smaller set of collectors. Some collectors can't afford the larger pieces in the first place.

 

No other coin holds that old west mystique like a Morgan. Entry level collectors can afford nice Morgan sets at entry level budgets. I think we have a temporary shift in collector interest to modern error coins and away from the old standards. That will change and the Morgan will come back around again.

 

It depends a lot on the grade. There are so many certified coins below MS65 that make it unreasonable for the collector to expect a decent price whether it be at auction or private sale. However, anyone who has concentrated on collecting coins graded MS65 to MS67 has a distinct advantage, even if the coin is a common date. When I sold my collection, every one graded MS65 and above sold for a nice premium.

Chris

 

I still have a soft spot for Morgans - when I sold off part of my small collection a few years ago, the Morgans were the only ones that stayed. Now that I'm back in the hobby I'm still on the lookout for Morgans but not quite with the frenzy of the past. Given the amount that were released in the 1960s I'm surprised at the prices of BUs coins - ie, I think some of the Red Book values are artificially high given the quantities that are out there. But someone is buying them!

 

This has been true as long as I've been collecting, and I imagine it has ALWAYS been true. And if a collector is selling to another collector I don't see them wanting to try and sell for dealer money or close to it as being odd. If they wanted to sell at 10 to 15% back they could just sell to a dealer. And when they are selling to another collector they are in effect a "quasi-dealer".

 

I'm nearing the end of my collecting days. I remember when I started you could go in the bank almost any day and trade one paper dollar for one Morgan or Peace. There were a few tellers that would hold some for me. Of course, the date mix was not all that good and you had to pass on many because you had one. At best any given week I could only afford one.

 

I imagine that they have lots of followers. There were too many big customers around when I was a dealer for the market to have dried up that much. Of course, if you have common date circulated material, the interest is limited.

 

Despite the higher prices we all like that large solid junk of silver. Morgans just hold a fascination that we can't get over. The feel, the sound, the look and the lore of the Wild West. I'll take a Morgan anytime.

 

Yes, they are more interesting than run of the mill junk silver.

 

Most definitely!

 

I was surprised too. I thought it would be Lincolns. But it is active collectors, not people buying rolls of wheatback cents. I have a lot more people at shows as about Morgan dollars than cents.

 

Among collectors who have and will spend money on coins, Morgan Dollars are by far the most popular series.

 

I've always thought them to be the most popular U.S. coin.

A lot of older collectors really love them.

I have a few semi-keys in MS 63-64 in older holders. I cherry pick the nice ones.

Their drawback is that they are such a long series and some of the keys are ultra-expensive in MS grades....this can frustrate many enthusiasts who wind up quitting before they ever complete the set. In this instance; I believe a nicely matched AU 58-MS 65 set would be quite acceptable.

 

Even in AU-58 it can get a bit expensive to complete a set. Best of luck if you attempt to complete the entire series.

 

Yes, but it's much more feasible for the average to moderate collector.

Not a chance. The best that I will ever do is the 28 coin one-per-date set in MS 63-65.