Hi- This is my first post on this forum, so be nice! My question is...........with the recent increase in silver per oz. what is a decent price to pick up morgan and peace dollars at? There is a local shop in my town that is selling basically "junk" silver dollars for $15 each, no limit.....is this a good price to buy a bunch at? or is $15 to much for just silver dollars right now? Also, what is a good price range to pick up walkers and other half dollars at? I am semi new to this and would just like to get involved in silver as a long term investment. Thank you for the help CJ
APMEX is selling them for $12.33 each peace or Morgan and $12.08 in bulk. Figure how much the convenience and shipping are worth to you.
Welcome to the forum CJ. I think $15 dollars each for "junk" silver dollars is about average. But if you're looking at buying those as an investment you'll never gain anything more than melt value. Anyone will tell you that coins arent a good investment, its because of the way market prices fluctuate. To me, investing in coins means having the money to purchase truely rare pieces and holding them for a while before putting them up for auction, not meaning Ebay but reputable auction houses like Stacks and Bowers & Merena.
thanks for the help on this topic. My investment goal would be on the melt value side. investment wise if i could invest at $15 each and sell for $20 each down the road for melt value...........i know i wouldn't get rich, but there would be a window of opportunity to make a few bucks.
They can probably be purchased for a couple dollars cheaper at coin shows, $13 dollars in AU for common peace dollars, morgans maybe 15.
If you want to invest in bullion, buy 1oz Silver rounds or various size silver bars. They have the cheapest premium. Melt value on the silver dollars is they are only 90% silver weighing in only .77344oz of pure silver. So just take current silver value at $15.30x77%=$11.83 melt value. So you are paying $15 each-$11.83 actual silver melt value= $3.17 Premium you are paying over the actual silver melt value. That is a high premium for junk dollars. These numbers should be very close. So if you were to invest in 1oz silver rounds, usually premiums are less the $1 an oz. So, which do you think is a better investment in silver?
I'd go with Morgans. They can be picked up cheaply enough. And, on top of future melt value, you also have the historical aspect of the coin, which always brings it's total value above it's melt value. That, to me, makes it a nicer investment. Guy~
If you truly are interested in silver as an investment, but also like coins, you probably can't do better than one ounce American Silver Eagles. It's a beautiful coin that can be sold more easily than heavily worn morgans or silver rounds. Silver rounds are good too, but the ASEs sometimes can develop significant numismatic premiums while rounds never will.
First welcome to the forum. Can't say I've priced "junk" Morgans recently but reckon of melt is $12 or so that ain't too shabby. Of course one never does really know what the market will do. If we did there would be a lot of really wealthy people in this forum. Shipping costs is a consideration as mentioned earlier. If you can get nice XF-AU and not pay shipping or tax (depending on where you live) it can be advantageous to buy locally. Last time I bought them I was getting heavier circ for $12 and higher end AU for $14. That was about 6 months ago. Might need to dump them now and make a few bucks back myself.
