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Message:: [QUOTE="Juan Blanco, post: 1586174, member: 41665"]On another thread, I just took a 1921-S Morgan "UNC BU" into a very reputable LCS, to see it's REAL value. The dealer would pay $27.50 (POS @ 34.28) for a nice-looking common-date Morgan, unslabbed. jeffb mentioned he'd expect a dealer to offer right around melt, maybe a dollar or two above, for common Morgans. That point is correct, the dealer offered THIS, in fact. (On CT some mistakenly conflate 'melt' with 'Spot' ; you can see the stark difference here.) In this case: POS @ 34.28 Fri 11/30/20121) "Melt" is currently $25.50, ~ $8.8 or 17.4% UNDER SPOT. ('Cull Morgan' or melt rate at a Massachusetts LCS) 2) "Numismatic Premium" is hypothetically ~ $2. or 7.8% OVER "Melt"3) "Real numismatic VALUE" is a Loss, ~ $3.35 or 10.9% UNDER SPOT. ('UNC BU Common Date Morgan' BID at a Massachusetts LCS) 4) eBay Completed Auctions ~$35 (avg; same date, approx condition) net -13% fees = $30.45 or ~Spot/Intrinsic. Not sure what I paid for the coin in the early 1980s, but I'll guess ~$23. Given this example, I'd say Common Morgans were a terrible investment LOLBut SELLING better common dates, fleabay is probably better than the LCS: you have a decent chance of realizing Spot/intrinsic (but not always so much for cull Morgans I saw.) fwiw I have no idea what a Dealer's BID was, circa 1983, as a %age. What was typical in the early-mid 1980s?[/QUOTE]