Which grade Morgan to focus on??

My local dealers routinely get walk-ins looking for stacks/bags of "silver dollars." For relatively common dates, there's no grading taking place sub high AU. They're thrown in with the others at a small premium above spot. I remember one old timer who rode down in his power wheel chair driving away with at least a thousand dollars worth of "silver dollars." "Ya mind throwin' in one ah them shiney ones" he said. The dealer charged him maybe $30 for that one, it was certainly MS-62 + with original surfaces. I'm not sure how you figure only culls are affected by bullion when old timers like this are in and out of these places everyday buying thousands of dollars worth of EF-45 Peace and Morgans for little more than what there silver content is worth.

 

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i rest my case

 

Sounds like a reasonable plan of action, and similar to the one I've chosen. I've been picking up MS64 PCGS slabbed Morgans in the common dates because they seem to be $100+ cheaper than their MS65 siblings. Most commons seem to be around $30 - $60, with a few higher. My most recent acquisition was a MS64 1921D in a PCGS case for $130.00. I want to use my $$$ to pick up the rarer offerings, like MS65 CCs.

 

Yeah, and the 81-S has one of the nicest strikes in the entire series. Don't settle for anything without full detail.

Others in that same general ballpark are the 79-S, 80-S & 82-S. These are also noted for a nice strike.

Chris

 

So you're saying that this dealer is selling these for about $14 each? That is about the spot content @ $18 silver.

 

Doug, those are slabbed coins and have nothing to do with silver bullion pricing. Yes, you can buy common date slabbed and very nice examples forn $40, but that is 3X the bullion value.

I think we're talking about 2 different things

 

I believe Doug was referencing the original post which is a discussion about buying slabbed Morgans. The other post was just a sidetrack.

Chris

 

So was the final assessment that the plan of the OP and others to collect MS64 and up slabbed Morgans is sound?

Also, that if you are a pure investor, that MS65 and up is the way to go.

 

That's my take on the gist of the conversation. I think we have someone with a heart of a collector and hopes it will also be a good investment. But I could be wrong.

 

I think Bill is more concerned about the purchase of Morgans in too low a grade which may or may not be influenced by the melt price of silver. As he stated, he's not looking to plan his retirement on these purchases, but he would like to buy them in grades which at least have a chance for some appreciation rather than remain static and have inflation eat away at future value.

Chris

 

Thanks for all the replies guys. One thing I meant/implied but probably didn't make clear in my OP was that it seems a lot of ms63 & ms64 morgans are underpriced in that they should sell for more than their current $50-$60 prices, even if they are common coins. Like I kinda said, I don't have enough $$ to be considered an investor, but I like morgan & I would like to focus on coins that would not Lose money.

 

Fortunately for me, this doesn't bother me in the least. I enjoy coins for the hobby that it is. I'll let my heirs sort out the rest.

Chris

 

ok that is why i was saying what did you do 700 years ago when there were no books. it reminds me you should do a coin of the century thread. we will start with the first century. you have t tell us which coin was the best and why? okie?

 

Nothing new under the sun.............

 

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I bought a few hundred dollars worth of Peace Dollars myself that day (silver hit $19/oz.). I certainly didn't pay more than a dollar or two over melt. Like I said, a small premium over spot. People were lined up trying to buy bullion. He was tapped and I kept seeing guys getting bags of Morgans and Peace Dollars he wasn't even looking at. I only bought some to search for VAMS. Most would grade 35-45, 2 were cleaned.

 

That's my assessment as well. I can't afford to spend $500+ per coin times 80-something coins in the series to satisfy the MS65 investor requirement. I am a collector so I am going with MS64 and up for my set. If some turn out to be investment grade, then great.