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What is the going buy/sell price for cull Morgan Dollars?
291fifth
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Do the culls bring a premium over melt value?
All glory is fleeting.
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nope
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Current spot silver ask price is $25.12/oz., so probably a bit more than that.
- Jim
There is not 1 ounce of silver in a silver dollar. At the current price of $25.11 per ounce, according to coinflation there is $19.42 worth of silver in a Morgan dollar. And if they are culls you would most likely get less then that for them (For common dates). I would say $18 to $19. If you get a dealer that works on a low margin, you could probably buy common date culls for $20-$21 each.
It’s truly amazing any survive after the run ups over the last decades. I pushed out a Lot of silver, sold on the $50 day, for once got the timing right.
I've seen buy prices on culls lately at 21.00.
Culls bring from the larger dealers about $20.00 with a $300.00 min.
Approved dealers they ask for the following EIN, State resale lic. and banking information.
So local dealers pay a bit less to make a profit.
On what do you base this?
Local market maker is buying at $21.75 and selling at $23.75
My wholesaler pays 19
I might add , last week guy comes in the shop looking for low grade cull dollars, said he pay 10.00 , I said, man i sure wish I had some
cheapskate. LOL
I think he's a sub-wholesaler. He can flip them to my guy at $21.75
In my neck of the woods, cull Morgan’s have always sold at a premium over melt value.
I would guess that currently, culls, or decent circulated common date Morgans, are probably going for between $23. and $25.
From what I am seeing (net sites), all culls have a premium over melt... not including tax/shipping. The local antique shops with Morgans, are charging 5x melt for culls.... I guess some people buy them, not knowledgeable people though. Cheers, RickO
My experience with antique shops with collector coins is that they are a waste of time. Everything is severely overpriced.
@291fifth.... And yet... they do sell...obviously not to knowledgeable collectors. Just like the television hucksters...there is a market. Sad. Cheers, RickO
21.50 on pre-'21 and 20.50 on '21 from the guy I use.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
I'm sure that's what you told him while thinking...