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<p>[QUOTE=&quot;Juan Blanco, post: 1564897, member: 41665&quot;]I think of most worn Morgans as scrap, basically bullion (intrinsic rate on 90/10). On eBay, I see quite a few August auctions where Winning Bid + S/H was ~-1% &gt; -2.8% below Spot.&nbsp; Those are the most successful bottom-feeders.</p><p><br /></p><p>In the middle of the completed auction list, a mix of good and worn coin lots ranged from 16% to 45% Over Spot (intrinsic.) Presume the better lots tend to sell higher to collectors looking plus the factor of POS volatility, so bullionists chasing Morgans should bid for LESS than 10% Over Spot at all times.&nbsp; I&#039;m also guessing the quiet and disciplined acculator might bid junk lots +3% Over Spot, no more, and expect to lose far more often than win.&nbsp; Per ~20 auctions, how many would this strategy win?&nbsp; </p><p><br /></p><p>What&#039;s the LCS premium on junk Morgans, nowadays? 12%? 15%?</p><p>Thanks.[/QUOTE]</p><p><br /></p>

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