I've been trying to pick up some silver in the form of morgan dollars, but anywhere I look they are selling for $30-$35. I'm looking to pick some up for under 25. any ideas? I have no idea why they are selling at a 50% premium. I might as well get some ase's for the same price but more silver.
Try apmex: http://www.apmex.com/Product/180/Morgan___Peace_Silver_Dollar___Cull.aspx http://www.apmex.com/Product/12595/1878_1904_Morgan_Silver_Dollar___Good_or_Better.aspx http://www.apmex.com/Product/160/1921_P_D_or_S_Morgan_Silver_Dollar_VG___XF.aspx
Look harder. You should find circulated examples (or even AU) under $30. I see $30-35 for BU common dates.
For under $25? The melt value at the current price of $28.39 is $21.96 and the mark up is as much as $3.50, depending, so I don't see how that's possible unless silver drops lower than it is now.
my local dealer sells some for spot and some for just over spot. the spot ones are low grades. id suggest looking around they are out there
I bought 25 of them for $1 over spot about a month ago from a guy I met through craigslist. There were no key dates or CC's, but most of them were in pretty good shape. There were a couple of AU's, but also a couple that were so worn they weighed a full gram less than normal.
Speculating in Morgans is the wrong way to go. If you want to speculate in silver, go spot market and buy raw bullion. Morgans are popular, even circulated, and you will not be able to go below spot. Too many collectors, as opposed to speculators love them. If you want to make REAL money, as opposed to a fast easy buck, go for good dates, in good condition, and hold onto them for a few years.
I would recommend that you go with ASE or silver bars if you just want silver. Morgans usually carry a premium and the only coins you will get for under $30 are usually culls.
He didn't say he was looking to buy @ spot, did he? "Under $25" gives a lot of room and is absolutely doable. He either needs to meet the right people, think outside the box, and/or take the initiative to find them. Huh? This makes no sense. The fact that many people will pay premiums for Morgans (over other types of junk silver) is all the more reason for him search out said coins, especially since they will give a cushion that "raw bullion" (bought at a "spot market" at a premium) will not. Maybe you should explain to the OP which "good dates in good condition" will make him some REAL money instead of making an intentionally vague statement.
It's all in the red book, or on VAM websites, or whatever. The information is very readily available.
While the redbook or any other pricing/value reference will list the so-called good dates, by simply reading this "very readily available" information, will it make the OP "REAL money"? Just because a Morgan in X grade can be had for $X today, does it mean that - with absolute certainty - the coin will bring the substantial return he implied? Of course not and my whole point is that the gentleman I quoted often makes these baseless claims without backing them up. If he is confident enough to claim this over and over, he should be confident enough to explain.
You, sir, are just looking for a battle. The ignore feature was made just for people like you. I have a problem with deliberately confrontational people, looking just to be bellicose, and as such, troll just for sport. Morgans are not melt category coins at this point, as even the common dates (glad to enumerate them for the OP) are going for above melt. Evidently, you're not that big on the Morgan market.
And you, sir, seem to make claims you're unwilling to back up. If you are so confident that these coins will make the OP "REAL money", why not explain which coins and exactly how this - with absolute certainty - will happen? "If you want to make REAL money" remember this? You are of course welcome to your own opinions, but they are just that... opinions. You are the one who likes to place himself on the pedestal of vast knowledge and experience, so why not prove it and explain the sure bet? Oh wait, I know why.. because you cannot. Oh.. and I hate to break it to you but some of your precious Morgans are in the "melt category" at this point and have long been. Just because you may not be able to hop online and find them at the click of a mouse, this does not mean they all sell for premiums. Now don't go throwing up the smoke and mirrors again... you know as well as I we are not talking uncs here. Someone so entrenched in the "Morgan market" should well understand that there is something beyond ebay and retail, but maybe you've not gotten that far yet.
