Morgans vs Peace vs American Eagles

I would like the opinion of as many of you that wants to speak your minds-Even the young collectors--

Currently I am struggling with a personnal decision of whether to get out of the collecting the SAE series in MS70, I have more than half of the MS70, including a few of what you would call low ms70 states if u will (the expensive ones), I already have the complete MS69 set, and instead jump seriously into either the Morgan dollar series, and perhaps into the Peace--

Now I do understand I cannot put together a MS70 morgan or peace dollar collection, it doesn't exist, but I most certainly have the means of putting together a respectable ms63-to lets say 65 type collection or even higher grades--Of course the morgan would be most expensive since there are many many more of them, plus you will admit there are some I will never acquire, like the 1895 proof I believe it is--

As for the Peace dollar, I am a little confused as for the term "high relief"--With the $20 gold Saints for example a few different types were created, some with rims some without, but with the peace I noticed that it have a definite rim, does the relief on these peace dollars higher that the "regular" strikes?? On photos 1921, vs 1922, I don't really see the difference? What am I not seeing here? Finally the red book says that 1,008,873 "high relief" 1921's were produced. It also says that 35,401 of the 1922 HR were produced, I have never seen the 1921 live, only on pictures and ebay. I have not seen the 1922's have you?--

To end this thread, what you post in response to my questions here WILL determine what I will do--I am leaning to get out of the SAE--But what do you want---Morgans?? or Peace?? Thanks in advance for all your comments, hopefully I'll get an ear full--

 

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Well I guess I'm a "young" collector--
I would go with the Morgan and Peace dollars...I'm one of the collectors that doesn't believe that there is such a coin as MS or PF70--to me they just can't be...a coin has some kind of spot or nick...

All 1921 Peace dollars are high relief and that means they wear faster...the 22 are mostly low relief and the ones that are HR are sooo high you would be spending a few thousand to get one...to me a set of peace dollars don't have the HR and the LR...it has the one you can best afford...you might afford the 1895 dollar as some are not PF condition and only grade G-XF--a G-4 1895 dollar is worth (I'm doing this from memory) $25,000.00!!!!

I would go with Peace and just pick up Morgans as you can and someday put together a date set...one from each date...that way you can get the 1895-O or S...My dad almost did that...it makes a nice set--

Speedy

 

Keep in simple. Collect what you like. First time I saw SAE's...I had to have them!

I first started with Lincolns and they still are my pride and joy.

I like Morgans because I think they are beautiful in all grades. Even a Morgan in G to VG condition still exhibits beauty. If you think about it, how many coins do you know that actually looks that good in G to VG conditions...or all grades!

But if you like Peace over Morgans...collect them. Frankly, there are only two Peace dollars I would collect in circulated grades, that is the 1921 and 28. But that is just me.

But whatever you do, go for the quality and keys first because they will go up and become more scarce. The commons will always be there and can be easily picked up later.

But as earlier stated, collect what you like first!

 

I prefer the MORGAN for the over all eye appeal. And the fact that you have not two but 4 mint marks to look for, and with the 1921 striking, along came the 5th with the addition of the Denver Mint. Guess the Morgan dollars just look and feel like so much more history than the Peace Dollar. I collect both but the Peace dollar takes a back seat on this one.

 

I find them tooo different to compare, the 3 have a beautiful design, so I don't REALLY have a preference there...though I have the Silver Eagles on my list...since they begun in 1986, is a pretty easy collection to complete

 

I'm with you all the way, Ed. Lady Liberty is gorgeous no matter where she's been nor how many people have had their grubby hands on her. I got some Morgans back from PCGS last week and they still sit on my desk where I can pick them up and savor them, caress them, and love them; I can't put them away yet.

Not to disparage Peace dollar collectors for she also has her own beauty, but she has that surprised look on her face that I find distracting.

 

A full set of high grade MS Eagles is a BEAUTIFUL thing to see.

A full set of high grade MS Morgans or Peace dollars is an INCREDIBLE sight

 

I wrote about the Peace Dollar for Numismatist magazine a few years ago and an edited version is online at Coin Gallery (http://www.coin-gallery.com/cgmarotta2.htm). Not in that presentation is the claim by Walter Breen that George Morgan was so incensed at the Mint going to an outside designer that he actually took a wooden board and slapped it on the model electrotype to flatten it.

As GDJMSP already pointed out, if you look at a 1921 Peace Dollar in real life, you will see the difference in relief.

Most collectors tend to prefer the Morgan over the Peace. As I discovered in my research, the Peace Dollar was hurried out in a short contest. Also, the reverse is not the one DeFrancisci intended, but was added later by George Morgan. So the Peace Dollar lacks a unifying spirit to its design and that shows, much like a house that is a suburban ranch split-level with square columns.

On the other hand, in his younger day George Morgan, like Charles Barber, had not much to do at the Mint, the Seated series pretty much taking care of itself through production. If you read one of the Patterns books (Adams & Woodin or Judd; the current standard is by Andrew Pollock; online, click up http://www.uspatterns.com), you can see some stunning designs. Morgan had been working hard every day when Congress asked for a new dollar design. So, the Morgan Dollar has a unity of purpose and intent that is undeniable.

Personally, I like the Peace Dollar more. However, I am not going to buy your collection. If it is all the same to you, then go with the market. The market says, "Morgan."

 

Thanks for all the replys guys, it is appreciated.

Thanks for this article Mike, I really enjoyed it and I learned many facts about the Peace dollar I was totally unaware of--

OK GD, I know exactly what they would look like now, the "stacking" part is the key comment there, thanks.

As for the other comments so far thanks folks for all your thoughts. In away it is sort of what I was expecting, many love all 3 type coins, as I do. But like everything else in our hobby, sometime you have to change course and go in another direction when something you are currently trying to collect does not do it for you any more.

For example: Last night I asked my wife this same question: Honey what would you collect, Morgans, Peace or SAE??>>>>She responded "GOLD"--collect gold coins-- I do collect gold coins also, but I told her, honey these coins are made of silver, she of course responded "I know that", collect what ever you want honey--She was very helpful---hahaha
Any ways, I still have not made a decision--This morning the talking heads said on FOX that the stock market is gonna take off and that gold prices will drop over $100 dollars an ounce this year----decisions decisions---makes life interesting doesn't it??

 

Cisco,

For what it's worth, drop the Morgans, Peace and SAE's altogther. Collect the Buffalo Nickel. IMHO, no coin approaches the beauty of this beloved American classic!

True, the composition isn't silver or gold. But, I think most collectors would agree that we don't collect coins based on their intrinsic value.

I suggest picking up a nice MS-66 or MS-67 example of a Buffalo Nickel and studying it. You'll be amazed at the intricate detail, craftsmanship and magnificence of this humble coin.

Of course, the Morgans would be my choice if you choose that path, but be prepared for some eye-popping sticker shock! The Buffalos are somewhat more reasonable, nevertheless some of these will surprise you when it comes to price. They're one of the most highly collected American coins... and you know what they say about supply and demand...

 

Cisco,
Personally I'm a fan of the Morgans. I would recommend you pick up a copy of Q. David Bowers Redbook of Morgan Silver Dollars. After you're done with it I would venture to guess you'll be hooked too. Great history behind these little beauties. Whatever you decide to do, we all wish you the best...and please keep us posted with your progress and pics!
Robin

 

Cisco:
you know what, If I am you, I would not bother with Morgan or Peace, I would go straight into Trade Dollar. If you collect Morgan or Peace, eventually, you will lose interest and goes into the high end such as Trade dollar or seated Liberty. This is my own experience...

 

CoinOKC I absolutely love the buffalo nickel and currently working my second set but I can't begin to compare them with the Morgan dollar. The buffalo nickel is truely an American classic but we are looking at nickel and silver which is like looking at apples and oranges! Also trying to compare, for the most part, 19th century coinage and design to 20th century coinage and design so again, different time and different place? My advice, after 30 years of collecting, is to collect BOTH!!! How can one go wrong there? There are some real wallet scrappers in the buffalo series now and I believe, after the release of the new buffalo nickel, that demands will increase on the older buffalo's, at least for a time being. Now the Morgan, well they are getting very difficult to obtain, at least here, as NO ONE is selling high grade material right now which I don't understand as prices are very much in the favor of both the buyer and seller? Demand is extremely high for both series at this time so I just grab what I can as it comes available if it is still affordable. Probably my two favorites of all time!

 

Since getting back into coin collecting, I've found the seemingly infinite variations of the Morgan dollars to be a bit intimidating. I'm sticking with American Eagles for the time being, but am also getting into Peace dollars.

 

I'm one of those people that don't consider the AES as a dollar coin. Therefor, it has to be the Morgan Dollar that would be the coin of choice as far as I'm concerned. They have all the necessary features to make it a very nice collection , no matter how you put it togather. In part, or completely, it's a beautiful set.

 

crystalk,
you can get alot of high grade Morgan in eBay. not very rare or difficult to obtain in my opinion. Also there is a local coin dealer in my area that stock about 700 high graded (UNC) in his basement. =) another "not rare" in my opinion.

 

Morgans are nice, but if I had my pick, I'd pass them all up for a nice example of 8 reales.