Morgan experts....Question
Coin Finder
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With the big hoard coming out in NGC holders and presumably some with CAC stickers.... Will this affect the Morgan dollar market for the dates not represented? Will the other dates be affected at all?
What do you think or know for sure?
Thanks in advance..
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I'm guessing if there is any effect, it will be short lived. The mass marketing will generate interest, and maybe affect price. But like a drop in pond....it may ripple for a few minutes, but in the end the pond returns to being still and calm.
But a related question: How did the release of what appears to be 100's(?) of 1794 half dollars affect the price and market for those? Are we still "rippling", or have things settled out?
I herd still lots of after effects of the 1794/95 Dispersal. (this is coming from national dealers in the know, that I know
I don't see it. The hoard is all common dates which there are already millions of anyway. Maybe some of the higher 66/67 coins of these years will take a hit but the average collector won't even notice imo.
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The hoard coins are usually common dates and with rare exceptions, the market is so saturated already I don't see it making much of a difference unless there are several superb gem pieces or rare varieties in the bags.
Million bucks worth of Morgans should be no more than a temporary blip on the market.
6 years ago #353 PCGS 1881-O's DMPL's graded MS63 and MS64 all of a sudden came into the market. The price went down from around $1,450.00 for a MS64 DMPL to $950.00 in a matter of a couple of months and still has not recovered as of today. Coins are valued on rarity and grade so I see this hoard affecting the common date Morgan market maybe for the next couple of years, we will have to wait and see.
The government has finally revealed that no Morgans were ever destroyed or melted and the market will soon be flooded with millions of rare dated coins. Now that would make a big impact. As with this NY Hoard coming out, there will probably be a few ripples, it really depends on their condition....which I have a feeling will have some very high grades IMHO.
Limited effects. Initial pumping of price will be followed by settling to a more reasonable market level. Average cost of about $65 each presumes a grade of MS64 on average, but with several hundred premium pieces. Promoters might make a profit of $200,000 on the lot.
It's a drop of water in a very large ocean. Unless there is an insane amount of 67/8 or even 9 (doubt any 9's but maybe) it wont effect much. Although it should, at least for a short time, raise the overall morgan market with more interested buyers. These small hoards tend to be very good for Morgan dealers in the short term.
They showed the 89-P in what looks to be 67. If there are a bunch of those, the high end 89-P will come down. Everything else, no change at all.
There have been a total of 1737 Morgans graded 68 or higher at both services. That comes out to be 1 for every 375000 coins made. I think the Morgan collector is safe with this small batch. (16000)
Unless they are "mostly" ultra high grades (all 66's+) then no. Matter of fact, I wouldn't waste my time (and money) getting these common dates graded. I might cherry pick a few for grading but the rest just aren't worth it.
The effect will be minimal and not long lasting. It will impact (if felt at all) the upper grade ranges - depending on the quantity of 67/68's found....And some will want the label - special name collectors. That will last about three nano-seconds. Now, if there were CC's, that would be a different story. Cheers, RickO