Which grade Morgan to focus on??

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So are you saying that MS64 and below are to be considered "lower graded Morgans and are for bullion investors and "collectors with moderate means," while High Grade (MS65+) are for true numismatic investors?

 

Correct me if I am wrong, but what he's basically saying is that in these grades, their value is more likely to be affected by swings in silver.

 

A pure numismatic piece or "collector" coin is not influenced by bullion markets.

You and I might feel it has numismatic value at 64, but it also has bullion value... 2 markets affecting the value of the same coin.

 

I would consider grades between VF and MS63-64 for typical years to be a mixed play more influenced by collectors than investors. The lower grades are bullion plays and the higher are numismatic investment plays. The high end plays are heavily influenced by investors with little actual interest in numismatics other than for rate of return and they avoid anything below MS65 IN A SLAB.

 

I have to disagree with this. I try to get Morgans in MS65 and higher whenever the opportunity arises and I can afford it. I'm not an investor! I'm a collector, and I know a lot of other collectors who do the same thing.

Chris

 

I'd be more than happy to take any of these in MS64 for bullion value. As a matter of fact, I'll take all of them........84-S, 89-CC, 92-S, 93-S & 95-O.

 

While you as a collector are part of the high end market and the driving force behind the attraction to coins by investors, you would have much less competition from Investors in the middle grades. Some day, the investment side will find some other new toy for investment and you might find less competition as a collector.

 

I get what your saying and I think I'm saying the same thing with a minor addition about the collector driven middle grades.

 

Silver is currently $17.87/oz.

Silver Value in a Morgan $ is therefore $13.82.

Melt Value is some significant fraction of Silver Value so the costs of acquisition and refinement can be recovered.

I've heard both of these called bullion value.

Any Morgan is therefore valued at about $13.50 melt and anything over that is a numismatic premium. If a coin in AG sells for $1,000 for whatever reason, it is due to a significant numismatic premium and melt, even at AG is irrelevant. If a Morgan in MS63 sells for $30, then the bullion value represents almost half it's value, even in the high grade.

It is the commodity investor that drives the Melt Value. It is the collector that drives the premium up for higher grades until market investors get into the mix. Now perhaps we should consider that as a function of price, rather than Grade, but absent special circumstances of rarity, they are pretty similar.

Anyway, this is my last post since it's getting redundant.

 

Wishful thinking! C'est la vie!

Chris

 

there is no need to be afraid just use the time machine and bring him as many as he wants

 

I have to tell you that the bullion market has almost nothing to do with the Morgan silver dollars right now, outside of the culls. The culls are about the only thing that are based on bullion prices. You might be able to find some bags of Morgans or Peace, but trust me, you will look at about 990 culls and the 10 common dates you get will be a waste of time. I've seen people post over and over about buying them at bullion + a couple bucks or whatever, for the most part it is pieces, not volume, or from sellers informed buyers will not deal with. Market has so little to do with these collectibles it is almost, note the word almost, not worth mentioning.

 

Back to the OP, now that my ranting is over...

If I had to start again, I'd buy all the common dates in MS64 or 65 as they are, generally, available and inexpensive enough, the semi-keys I'd buy in the best grade I could afford and the keys I'd buy whatever I could find and afford that were genuine. There are some strange anomolies, by that I mean the cost difference from circ to ms is marginal and in those I'd buy the ms coins, but I would and have used this "general rule" to my collection of Morgans. I've got a long way to go, but the start I have after 2 years is good enough, without putting financial strain on myself. (I'm most likely going to have to hit the jackpot at the silver dollar slot machine in Reno to get the 93s... and owning a 95 Philly just won't happen for me)

 

Chris: What is a good price for a common date MS65 Morgan in either a PCGS or NGC slab? Thanks, TC

 

I saw a common ms65 for 250 on hsn so im guessing 200?