MS65 Morgan Dollar values

ajaan

Right now I can pick up a PCGS/NGC MS65 pre-1921 Morgan for about $100. Does anyone remember what was the top value back in the day of a certified common date MS65 Morgan? I'm thinking they were fetching $350 or so but my memory isn't so good nowadays.

PhilLynott

Is that right? That was way before my time if it's the case. No clue why they were ever so much I think $100 is overpriced a bit seeing as for instance PCGS estimates 159,000 80-S in 65 or better and 225,000 81-S.

ricko

One hundred dollars is a general area for Morgans of that description... though they can be found - occasionally - for a tad less. And certainly they are still found in listings for more. Cheers, RickO

Coinstartled

65 Morgan's were "gems" at the peak of the market.... Not so much now.

Didn't follow the market three decades ago, but they were fetching close to $200 six or seven years ago.

Smudge

Soon another "hoard" is likely to be found driving prices lower. They made an awful lot of Morgan's.

TomB

An 1881-S Morgan dollar in PCGS MS65 was around $900 for the peak price in 1986 and spiked again to around $600 in 1989 and has spent most of its time since then in the sub-$150 range with the occasional $200+ value.

messydesk

Weren't they around $600 at the peak?

ajaan

@TomB said:
An 1881-S Morgan dollar in PCGS MS65 was around $900 for the peak price in 1986 and spiked again to around $600 in 1989 and has spent most of its time since then in the sub-$150 range with the occasional $200+ value.

Thanks Tom. That's exactly the information I was looking for.

tyler267

They were heavily promoted in the late 1980s, the TPGs could not keep up with demand so not enough to go around, and there was a lot of investor money flowing into the coin market. Prices rocketed and went sky high until they crashed.

I don't remember exactly but I think Messydesk is right the price went to around 500 to 600 for common MS65 Morgans.

Coins are a small thin market so whenever money pours in prices take off.

messydesk

The funny thing is that if you paid $600 for 81-S Morgans in 65 in 1989 and bought only the nicest ones, you'd be fine today (not considering inflation), as they'd all be in 67 holders.

ajaan

@messydesk said:
The funny thing is that if you paid $600 for 81-S Morgans in 65 in 1989 and bought only the nicest ones, you'd be fine today (not considering inflation), as they'd all be in 67 holders.

My brother hopes so. He has a bunch of old holder MS65 and MS66 Morgans he bought 20 years ago.

tyler267

@messydesk said:
The funny thing is that if you paid $600 for 81-S Morgans in 65 in 1989 and bought only the nicest ones, you'd be fine today (not considering inflation), as they'd all be in 67 holders.

I think you are right, there are some very nice coins in some of those old slabs.

tyler267

@ajaan said:

@messydesk said:
The funny thing is that if you paid $600 for 81-S Morgans in 65 in 1989 and bought only the nicest ones, you'd be fine today (not considering inflation), as they'd all be in 67 holders.

My brother hopes so. He has a bunch of old holder MS65 and MS66 Morgans he bought 20 years ago.

If he bought them 20 years ago he is probably okay, that timing would have been after the market crash but before grade inflation really took off, prices got really cheap for a long time after the crash then the market started going up again

philographer

1992 prices, $115 for a MS 65

ARCO

So basically, 65's at the height were really 67's? Prices haven't dropped, grading standards have.

tyler267

@ARCO said:
So basically, 65's at the height were really 67's? Prices haven't dropped, grading standards have.

Some of the old 65's are today's 67, but not all of them, some of them are still 65 or worse.

AlexinPA

You have to search long and hard for old MS 65 Morgan slabs. I have some CC MS 65 that look real nice.

asheland

I recently picked up an 81-S in a PCGS OGH65 for $110. Actually it's the doily type with the green label (2-piece construction)
I'm happy with it for the money.

batumi

@ricko said:
One hundred dollars is a general area for Morgans of that description... though they can be found - occasionally - for a tad less. And certainly they are still found in listings for more. Cheers, RickO

I agree and will add that some are worth well over $100, while I while others are not. One must look at the coins.

messydesk

@ARCO said:
So basically, 65's at the height were really 67's? Prices haven't dropped, grading standards have.

Double check what I wrote. "... bought only the nicest ones..."

RogerB

A sticker or plastic slab adds nothign to the numismatic value of a coin....even if some will pay more, it is merely a self-deception - much like "MS-65 Morgans" in the late 1980s.

"Grading" has become so screwed up and inconsistent that it seems futile to try and compare anymore.....

AlexinPA

@RogerB said:
A sticker or plastic slab adds nothign to the numismatic value of a coin....even if some will pay more, it is merely a self-deception - much like "MS-65 Morgans" in the late 1980s.

"Grading" has become so screwed up and inconsistent that it seems futile to try and compare anymore.....

I totally agree . I may b wrong but all the 'add on' stuff left me confused over the years. These plus grades and things like 'proof like' and 'semi-proof like' etc, etc. To me it is either a proof or it's a business strike. Sure it looks better but in reality is it better? I'm probably wrong but I've been wrong before (more than I've been right).

Wabbit2313

@tyler267 said:

@ARCO said:
So basically, 65's at the height were really 67's? Prices haven't dropped, grading standards have.

Some of the old 65's are today's 67, but not all of them, some of them are still 65 or worse.

Utter foolishness. Those 65's are now 64's with a few 65's. Any 65 that would now be a 67 would be a label error, either from back then or now. Those who claim this are not cracking and sending them over the last year. Try it and see for yourself.

Wabbit2313

Here is the price history of the peak on an 81-S Morgan: Peaks just under 1K.

.

tyler267

@Wabbit2313 said:

@tyler267 said:

@ARCO said:
So basically, 65's at the height were really 67's? Prices haven't dropped, grading standards have.

Some of the old 65's are today's 67, but not all of them, some of them are still 65 or worse.

Utter foolishness. Those 65's are now 64's with a few 65's. Any 65 that would now be a 67 would be a label error, either from back then or now. Those who claim this are not cracking and sending them over the last year. Try it and see for yourself.

I respectfully disagree there are a lot of coins that have been upgraded that used to reside in rattelers and OGH. People who were picky and bought nice for grade coins in the 1990s mostly did okay on upgrades. A lot of the low end for the grade coins are still in the old holders, and will probably stay in the old holders, while the nicer coins have been upgraded.

Wabbit2313

@tyler267 said:

@Wabbit2313 said:

@tyler267 said:

@ARCO said:
So basically, 65's at the height were really 67's? Prices haven't dropped, grading standards have.

Some of the old 65's are today's 67, but not all of them, some of them are still 65 or worse.

Utter foolishness. Those 65's are now 64's with a few 65's. Any 65 that would now be a 67 would be a label error, either from back then or now. Those who claim this are not cracking and sending them over the last year. Try it and see for yourself.

I respectfully disagree there are a lot of coins that have been upgraded that used to reside in rattelers and OGH. People who were picky and bought nice for grade coins in the 1990s mostly did okay on upgrades. A lot of the low end for the grade coins are still in the old holders, and will probably stay in the old holders, while the nicer coins have been upgraded.

Try and get a 67 out of those right now? How many have you personally cracked and sent in, in the last 12 months?

CyndieChildress

@messydesk said:
The funny thing is that if you paid $600 for 81-S Morgans in 65 in 1989 and bought only the nicest ones, you'd be fine today (not considering inflation), as they'd all be in 67 holders.

I was just thinking of taking mine out of sleeves. I have a few 1921s and a whole bunch of 1922 in a roll (all nice and shiny). I could only hope for a 67 or better, lol

CyndieChildress

@AlexinPA said:
You have to search long and hard for old MS 65 Morgan slabs. I have some CC MS 65 that look real nice.

Nice.!.!

Cougar1978

Dollar market been in trouble for sometime.

Lower pop of colectors means bids going down.

blitzdude

Keep looking, should be able to find common date 65s in the $75-80 range. $100 is severely overpriced in todays market.

Aspie_Rocco

Glad I bought one for $125 last month I still like it but feel kinda dumb for stepping outside my comfort zone. At least it was with ebucks and has die clash both sides.
Where do you find Pcgs MS65 Morgans for under $100?

SurfinxHI

Well, greysheet has common date morgans at $110 right now, 10% higher than what you all are quoting. Finding them at $100 would be nice. $70? I’d back the truck up. A wholesaler I know is buying common date 65s at $85....and he is selling them for a profit....my guess it is at least 10-20%, thus he is wholesaling them at $93-100.

Find them at $100, you might want to buy. At $70? Buy them and sell them to me for $80, and I’ll make $5 on the trade....

AlexinPA

@Aspie_Rocco said:
Glad I bought one for $125 last month I still like it but feel kinda dumb for stepping outside my comfort zone. At least it was with ebucks and has die clash both sides.
Where do you find Pcgs MS65 Morgans for under $100?

Just this minute on EBay: All MS 65 - 1879 S 80.00 - 1880 O 84.00 - 1901 O 80.00 - 1887 P 85.00 - 1921 P 85.00 - 1885 P 85.00 and more. Most are ICG MS 65 some PCGS and NGC.

ajaan

@AlexinPA said:

@Aspie_Rocco said:
Glad I bought one for $125 last month I still like it but feel kinda dumb for stepping outside my comfort zone. At least it was with ebucks and has die clash both sides.
Where do you find Pcgs MS65 Morgans for under $100?

Just this minute on EBay: All MS 65 - 1879 S 80.00 - 1880 O 84.00 - 1901 O 80.00 - 1887 P 85.00 - 1921 P 85.00 - 1885 P 85.00 and more. Most are ICG MS 65 some PCGS and NGC.

Are those closed auctions? ICG coins sell for a lot less than PCGS.

DoubleEagle59

@ARCO said:
So basically, 65's at the height were really 67's? Prices haven't dropped, grading standards have.

@ARCO said:
So basically, 65's at the height were really 67's? Prices haven't dropped, grading standards have.

Don't lump all old ms65's into the ms67 category.

I've seen plenty of old ms65's that are still ms65's today.

AlexinPA

@ajaan said:

@AlexinPA said:

@Aspie_Rocco said:
Glad I bought one for $125 last month I still like it but feel kinda dumb for stepping outside my comfort zone. At least it was with ebucks and has die clash both sides.
Where do you find Pcgs MS65 Morgans for under $100?

Just this minute on EBay: All MS 65 - 1879 S 80.00 - 1880 O 84.00 - 1901 O 80.00 - 1887 P 85.00 - 1921 P 85.00 - 1885 P 85.00 and more. Most are ICG MS 65 some PCGS and NGC.

Are those closed auctions? ICG coins sell for a lot less than PCGS.

I used the Buy It Now search.

batumi

@DoubleEagle59 said:

@ARCO said:
So basically, 65's at the height were really 67's? Prices haven't dropped, grading standards have.

@ARCO said:
So basically, 65's at the height were really 67's? Prices haven't dropped, grading standards have.

Don't lump all old ms65's into the ms67 category.

I've seen plenty of old ms65's that are still ms65's today.

I will add- and lower'! One has to look at the coins.

Cougar1978

It’s foolish to make generations lumping earlier era graded coins into the 67 grade.

Until PCGS grades your crack out a higher grade all bets are off.

Each coin has to stand on its own merits. I don’t pay above the grade on the Holder.

Cougar1978

Only MS65 Morgan coins I c on eBay in $100 and lower range BIN are ICG or some softly struck dog.

Now If you walk up to my table at upcoming show offering me PCGS 65 Morgan’s at $100 that are actually all there then I will believe that. You will need put your coins where your mouth is lol.

dmwest

This was a 67 before a Smurf left prints......

ajaan

@Cougar1978 said:
Only MS65 Morgan coins I c on eBay in $100 and lower range BIN are ICG or some softly struck dog.

Now If you walk up to my table at upcoming show offering me PCGS 65 Morgan’s at $100 that are actually all there then I will believe that. You will need put your coins where your mouth is lol.

Yesterday I bought 2 PCGS MS65 Morgans off eBay for $92. dlvd. each.

golden

65's were priced at $105 at the Silver Dollar Show.

AlexinPA

As long as folks keep buying at higher than normal prices then that's it.

jughead1893

I can remember them being around $450 in 1986 and $ 75 in 2001

Soldi

@ajaan said:
Right now I can pick up a PCGS/NGC MS65 pre-1921 Morgan for about $100. Does anyone remember what was the top value back in the day of a certified common date MS65 Morgan? I'm thinking they were fetching $350 or so but my memory isn't so good nowadays.

They were fetching 800 dollars at one point and they were considered cheap in 1990 at 350 per common date

Cougar1978

The sheet has them at 110 wholesale.

Can they fall further?