Morgan Silver Dollars
debodun
Posts: 18 ✭
in Q & A Forum
A woman in a club I used to attend from time to time mentioned that she had silver dollars she wanted to sell. I asked her to bring them to the next meeting and I would look at them and make an offer. She had 10 Morgans which were circulated in average condition and nothing spectacular or rare. I told her I'd give her $20 apiece. She recoiled like I'd slapped her face. She scooped them up and said huffily, "I wouldn't sell them for $50 each!" I have a few Morgans and I never paid over $20 even from a dealer. Did I make a fair offer or are Morgans worth more than $50? These are the ones I have:
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Comments
All depends on condition (and date/mint mark).....melt valu is around 12-13.00 so I wouldnt say 20 per was a crazy lowball offer in average cond....
Virginia Beach, VA
Collector, Buyer, Seller, Licensed Dealer
U.S. Silver & Gold coins, Foreign Coins, Bullion, Mint/Proof Sets, Currency, Antiques, Collectibles
Melt value
Virginia Beach, VA
Collector, Buyer, Seller, Licensed Dealer
U.S. Silver & Gold coins, Foreign Coins, Bullion, Mint/Proof Sets, Currency, Antiques, Collectibles
I scrap the crappier morgans all the time....I'd feel like it was xmas if I got 20.00 for them 😁
Virginia Beach, VA
Collector, Buyer, Seller, Licensed Dealer
U.S. Silver & Gold coins, Foreign Coins, Bullion, Mint/Proof Sets, Currency, Antiques, Collectibles
Don't people don't collect these for their historic value or beautiful design, they are only interested in scrap value?
They ARE collected for their numismatic value and beauty.
Many times they would need to be graded and slabbed by a TPGS to validate the grade and authenticity. There are many CFs around.
Estimates of graded Morgan values:
https://www.pcgs.com/prices/detail/morgan-dollar/744/most-active
$20 is a nice offer for an average circulated common date. All of your coins look counterfeit to me, by the way. No wonder they didn’t cost more than $20.
My local dealer has a box he keeps around with $20 Morgans and Peace. He throws some nicer ones in occasionally. All are average circulated condition with legible dates and such.
Collect raw morgans, walkers, mercs, SLQ, barber q. Looking at getting into earlier date coins pre 1900s.
Obviously you didn't read her mind before you made your offer. Hey you took your best shot. The hunt continues. Peace Roy
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we do it as a hobby others just want to make a buck.. that is........
From my somewhat limited but also researched experience....many LCS's and coin show dealers sell average circulated or "cull" Morgans out of a box or tray i.e. no frills packaging, for around $17-$20.00. Anything more than that would really need to have some sort of numismatic premium attached i.e. AU or BU condition, a semi key date or mint mark, a special holder, etc. Bottom line is you were dealing with a person without any real concept of real world coin market pricing.
Virginia Beach, VA
Collector, Buyer, Seller, Licensed Dealer
U.S. Silver & Gold coins, Foreign Coins, Bullion, Mint/Proof Sets, Currency, Antiques, Collectibles
Let's not be too hard on the lady. I think what confuses those who are not in the hobby is: They put the date over the condition. I bet we could find many who would say: "1878, wow! Must be rare!" They wind up thinking WE have a problem. LOL.