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<p>[QUOTE=&quot;KTO, post: 1484289, member: 37914&quot;]I think it may be helpful to recall some of the history of the Morgan dollar. The Treasury had kept large quantities of them (and to some extent, the Peace dollar) in reserve for decades. If you held a (paper) silver certificate note, according to law, you could redeem it for a silver dollar, so the Treasury needed to maintain a sufficient inventory of the coins. Once fewer silver certificates were in circulation, the Treasury began selling off Morgan and Peace dollars in 1962 at greater than face value because the price of silver in the coins was by now worth more than $1.00. The government then withdrew the coins from sale in March, 1964 because: A) collector demand (especially hunting for rare dates and mints) was overwhelming, and B) the law requiring redemption for silver certificates was revoked. The surplus coins were then transferred to the General Services Administration, and about 3 million were sold between 1972-1980 (again) at greater than face value for $107,000,000.00. All of which were uncirculated. And all of which gave every coin collector a fairly even playing field in trying to obtain a set of Mint State coins without having to hope that a well-to-do Grandpa had put aside some bank fresh Morgan dollar rolls from every year and every mint back in the day.</p><p><br /></p><p>IMHO, It was the need to distinguish between various AU and MS grades of uncirculated Morgans all hitting the market in a short space of time that really drove the introduction of TPG and slabbing in the 1980&#039;s.</p><p><br /></p><p>This is a very different story from the collecting context for the Kennedy half. The Kennedys were minted each year by the hundred millions through 1976 and tens of millions through 1986 and put into circulation. It is a very easily available clad coin. Collectors and hoarders have been pulling them aside and out of circulation since Day 1. There are enough Kennedys to more than meet collector demand.</p><p><br /></p><p>And since there will be no new significant stock of uncirculated Kennedys held by the Treasury for up to 80 years that can be sold to collectors at greater than face value (since their intrinsic value is below their face value, and there is no pent up collector demand) then I cannot see how Kennedy halves will suddenly gain the collectible status of the Morgan dollar series.</p><p><br /></p><p>Kennedy halves are certainly collectible and should hold their value as well or better than any contemporary US coin for all the reasons given in the article from the OP. But in terms of value of purchase price, I would expect $1000 spent on choice, high grade Morgan dollars to be a better investment than the same $1000 spent on choice, high grade Kennedy halves.[/QUOTE]</p><p><br /></p>

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