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1885-CC Morgan Dollar - Decrease CDN Bid
Cougar1978
Posts: 7,620 ✭✭✭✭✭
Bid for this issue decreased (Aug 2019 CDN) to $600 in 64 and $1400 in 66. It’s cac 66 bid remained at $1600 / and CAC CPG$2000.
Is this decrease in collectors or some other market factor. I have regarded this issue as a solid investment coin. Slow market erosion?
Future Outlook for it? Should one be buyer or seller?
So Cali Area - Coins & Currency
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These are the kind of little "canaries" that make me wonder about the entire "coal mine". [See my thread on declining Mint customer base.]
Because I'm obsessive about it, consider the stamp market and Zeppelins. The went from $5000 to $1000 in 20 years. A nice set of Zepps was a cornerstone midlevel purchase of a relatively scarce issue that every "good collection" needed to have. They were a bargain at $4000, and at $3000 and at $2000...now, I only buy them at $800 to flip for $1000 and I wouldn't dare hold a set hoping for a rebound.
Keep in mind that the TOTAL NUMBER of all 3 stamp types was only 227,000 making for less than 100,000 possible Zeppelin sets against 228,000 1885-CC Morgans, 65% of which were GSA (according to NGC).
With the canaries weakening I wonder about the coal mine.
Lower prices would invite a wave of new collectors. Many have been priced out of the market.
Collector, occasional seller
As a collector, I find the hobby active and interesting....Just look at most show reports. If I were a dealer, or a seller, my outlook might me different....But I am not...Just a happy collector.
Cheers, RickO
The 1885-CC dollar is really pretty common in MS-64 to 66. It's actually scarce in the circualted grades. It's easy to see why the price has dropped.
A great many Morgan Dollar date and mint mark combinations are common. It's just that a lot of collectors have chased them. If they stop chasing, the prices can go down pretty fast.