Exactly no other 19th c coin is readily collectable in uncirculated grade for under $100 add to that their nearly an ounce of silver and their a good looking design and theirs some serious rarities for the advanced collector and it adds up to the Morgan's incredible appeal
To me the Morgan carries an almost romance of knowing this coin could have been circulated in all kinds of interesting places. I like to think brothels and poker tables of the west. The design is beautiful and IMO there are not many coins that attract my eye like a nicely toned XF Morgan. On the other hand, I think a MS63 Morgan covered is bag marks is one of the ugliest coins around. And the mint options make it all that much more intriguing,
I tend to collect more Peace as they are easier to complete a set. However, a nice Morgan has a much better detailed design than the Peace. Still, I enjoy both.
I looked it up in the red book and it appears the P coins are the ones with the premium. Mine is an S. Not that I care as I'll never sell it.
I got an almost new Whitman Album for Peace Dollars for $5 and thought, well, I will just work on that set. Its shorter and doable. Morgans are a more significant commitment. I get a Morgan every now and then, but I am not working on a set. Doing Franklins for the same reasons, but in a Dansco album. And am upgrading those boys lately, making it prettier all the time.
The peace dollar Liberty is far hotter than the Morgan dollar Liberty. I think I prefer the Morgan reverse, however. I love both of them.
I guess one can come up with any theory that they want, but the point in fact is that Morgan dollars are one of the most collected coins in the entire world. In terms of US coins, the two most collected series are Morgans and Lincoln Cents. So, I guess someone must just like Morgans, and there are a lot of "someones."
The proliferation of information regarding varieties (VAMs) are what attracted me to Morgans. I find die varieties, clashes and all that to be really interesting - specially for 78's. I don't know if there's an equivalent for Peace Dollars - or for any other commonly collected coin? duk