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<p>[QUOTE=&quot;NorthKorea, post: 1184621, member: 29643&quot;]If you&#039;re buying for bullion, why would you buy Morgans?</p><p><br /></p><p>Think of it this way:</p><p><br /></p><p>$3 premium per coin in common condition. Non-key Morgans are actually kind of tough to sell in off-conditions. Why? Because there are so many in low MS (60-62) grades out there for about the book price of VF/AU common Morgans. As a bullion speculation play, a $3 per coin premium works out to ~10.5% above spot AT A MINIMUM. Since you&#039;re dealing in lower grade coins, circulation wear might add another 1-3% of metal loss. (This is far more severe on dimes than Morgans, but it&#039;s still an issue.) For this same reason, 1921s are actually a better value than earlier strikes, since they&#039;re less likely to have excessive circulation wear. Again, this is based purely upon the question you presented of best value in terms of bullion.</p><p><br /></p><p>The reason 1921s are &quot;discounted&quot; relative to other common Morgans is they made over 86mm of them. Additionally, they were the first issue post-Pittman Act, which means a good quantity of them &quot;survived&quot; over the years.</p><p><br /></p><p>Now, if you&#039;re buying for numismatic purposes, that&#039;s a different story entirely.[/QUOTE]</p><p><br /></p>

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