Will there ever be 34,948 collectors that are happy with a PCGS graded 1879-S in MS64 in there collection?:devil:
I'd guess more than a handful of those are now in MS65 or better holders, but point well taken. I'm also going to assume that some are wildly toned and in strong hands. For comparison, NGC lists another 35,591 dollars from 1879-S in MS64. However, the 1879-S in MS64 from NGC is not even close to the most common date in MS64 All of the following have more MS64s than the 1879-S: [TABLE="width: 171"] 1881 S (88,983) 1885 O (78,844) 1884 O (76,857) 1887 (75,594) 1904 O (57,050) 1880 S (50,892) 1886 (49,408) 1883 O (42,757) [/TABLE]
Even still, put those SAE's in $1000 bags, stack $5,000,000 in a corner, leave them there for 60-80 years, move them from one corner to another every couple of years, and don't forget the audits....then see what those SAE's look like. Chris
But---But remember we can't consider all that moving of them around as any form of circulation.:devil:
Reality check.....the mint has progressed and done away with bulky bags and such regarding these issues. Nice tight plastic coin tubes are the hallmark of the day. Little or no movement contained within......1000 years and these coins will fare rather well.
Yeah they use tubes for the Eagles but to be real today's comparison is the Ballistic bags of $250,000 each Prez Dollars. Minted more in the same style and sent to storage from the time minted as the Morgans were.
This kind of stuff is what people always seem to remember and it is the way many think of Morgans. But it is important to understand that this only happened with a select few of the Morgan dollars. There were approx 3 million of them, and almost all of them came from the CC mint. And roughly 2.3 million of that 3 million were all from just 3 years - 1882, 1883, and 1884, all CC. All of the rest of the Morgan dollars were out there in the world someplace. The only reason I mention this is because it puts a different perspective on how we look at Morgan dollars. Very true, as far as the comparison goes. But while there were roughly 3 million Morgans sitting in govt. vaults, there are approx.2.2 BILLION Prez. dollars sitting in govt. vaults. To help visualize that - there are almost 200,000 of those giant ballistic bags sitting around. Almost enough for every coin collector to have a bag of his own. I don't know about you guys, but I find that to be just a staggering number.
Without going political just think what would happen at Wall Mart if the government started using all those Prez dollars to pay out welfare benefits?:devil:
Uh no, bad idea, you'd have 50,000 new permanent disability claims to contend with. People claiming they hurt their back because the government forced them into lugging around 300 dollar coins.
I bet the majority of collectors would be thrilled with a ms64 Morgan. It was the highlight of my collection for years - where money was tight.
