Is there suddenly increased demand for MS65 Morgans? ...as in $177 wholesale?

philographer

Got a notification that a dealer's buy price is $177 for Pre-21 Morgans in MS65 (for sight seen coins).

Is the "hot market" now extending to more common coins?

Seeing anything similar?

MFeld

Increased demand? Yes. Suddenly? No.

coinbuf

I cannot comment on demand but there was a thread yesterday asking about a price bubble in generic BU Morgans, A few people posted that they have been seeing a recent rise in prices for those, perhaps that is part of the price increase you are seeing with this notification.

Walkerfan

Morgans have gone up across the board. Take a look at the recent CDN or PCGS price guide....there are little green arrows all up and down.

My friend just bought a Morgan 65 and, while he was haggling with the dealer; trying to save a little bit of money the price actually went UP more, so he ended up paying even MORE the next day. I told him not to wait. We were talking about it and theorized it is because of the new 2021 Morgans and Peace dollars that have come out and stimulated interest in the rest of the series. Much like what happened to Washingtons, in 1999, with the introduction of the State Quarter program.

Are these prices in a bubble or is it a steady upward trend? I don't know but I think that, if you have the opportunity to buy nice coins at a reasonable price, then you should do so. They certainly aren't going to be A LOT cheaper in the long run and, yes, some may continue to RISE. JMHO.

MFeld

@Walkerfan said:
Morgans have gone up across the board. Take a look at the recent CDN or PCGS price guide....there are little green arrows all up and down.

My friend just bought a Morgan 65 and, while he was haggling with the dealer; trying to save a little bit of money the price actually went UP more, so he ended up paying even MORE the next day. I told him not to wait. We were talking about it and theorized it is because of the new 2021 Morgans and Peace dollars that have come out and stimulated interest in the rest of the series. Much like what happened to Washingtons, in 1999, with the introduction of the State Quarter program.

Are these prices in a bubble or is it a steady upward trend? I don't know but I think that, if you have the opportunity to buy nice coins at a reasonable price, then you should do so. They certainly aren't going to be A LOT cheaper in the long run and, yes, some may continue to RISE. JMHO.

I'd be very surprised if the increased demand and prices (including even for circulated examples) has much of anything to do with the 1921 Morgan and Peace dollars. This started months ago, at the time there was a shortage of physical silver, and has continued, since then. Other generics, such as Walking Liberty Half Dollars, and many other segments of the rare coin market have also risen in value. And has been mentioned in other threads, collectibles, in general, have been very strong.

Catbert

@MFeld said:

@Walkerfan said:
Morgans have gone up across the board. Take a look at the recent CDN or PCGS price guide....there are little green arrows all up and down.

My friend just bought a Morgan 65 and, while he was haggling with the dealer; trying to save a little bit of money the price actually went UP more, so he ended up paying even MORE the next day. I told him not to wait. We were talking about it and theorized it is because of the new 2021 Morgans and Peace dollars that have come out and stimulated interest in the rest of the series. Much like what happened to Washingtons, in 1999, with the introduction of the State Quarter program.

Are these prices in a bubble or is it a steady upward trend? I don't know but I think that, if you have the opportunity to buy nice coins at a reasonable price, then you should do so. They certainly aren't going to be A LOT cheaper in the long run and, yes, some may continue to RISE. JMHO.

I'd be very surprised if the increased demand and prices (including even for circulated examples) has much of anything to do with the 1921 Morgan and Peace dollars. This started months ago, at the time there was a shortage of physical silver, and has continued, since then. Other generics, such as Walking Liberty Half Dollars, and many other segments of the rare coin market have also risen in value. And has been mentioned in other threads, collectibles, in general, have been very strong.

Are MS65 Morgans generic for those who desire physical silver? And yes, there are millions of Morgan, I guess I've never thought at that grade level that they would attract bullion accumulators.

291fifth

Seems strange. If you are going to buy bullion, buy bullion, not something that is actually very common (MS-65 Morgans) and carries a hefty collector premium.

ChrisH821

@Catbert said:

@MFeld said:

@Walkerfan said:
Morgans have gone up across the board. Take a look at the recent CDN or PCGS price guide....there are little green arrows all up and down.

My friend just bought a Morgan 65 and, while he was haggling with the dealer; trying to save a little bit of money the price actually went UP more, so he ended up paying even MORE the next day. I told him not to wait. We were talking about it and theorized it is because of the new 2021 Morgans and Peace dollars that have come out and stimulated interest in the rest of the series. Much like what happened to Washingtons, in 1999, with the introduction of the State Quarter program.

Are these prices in a bubble or is it a steady upward trend? I don't know but I think that, if you have the opportunity to buy nice coins at a reasonable price, then you should do so. They certainly aren't going to be A LOT cheaper in the long run and, yes, some may continue to RISE. JMHO.

I'd be very surprised if the increased demand and prices (including even for circulated examples) has much of anything to do with the 1921 Morgan and Peace dollars. This started months ago, at the time there was a shortage of physical silver, and has continued, since then. Other generics, such as Walking Liberty Half Dollars, and many other segments of the rare coin market have also risen in value. And has been mentioned in other threads, collectibles, in general, have been very strong.

Are MS65 Morgans generic for those who desire physical silver? And yes, there are millions of Morgan, I guess I've never thought at that grade level that they would attract bullion accumulators.

I would think that the shortage of true generics(60-62) pushed those looking for generics to look slightly higher(63-64), those looking for slightly higher had to look higher yet(65+), and so on. Demand "trickle-up" if you will. I'm no expert but that's my theory.

MFeld

@Catbert said:

@MFeld said:

@Walkerfan said:
Morgans have gone up across the board. Take a look at the recent CDN or PCGS price guide....there are little green arrows all up and down.

My friend just bought a Morgan 65 and, while he was haggling with the dealer; trying to save a little bit of money the price actually went UP more, so he ended up paying even MORE the next day. I told him not to wait. We were talking about it and theorized it is because of the new 2021 Morgans and Peace dollars that have come out and stimulated interest in the rest of the series. Much like what happened to Washingtons, in 1999, with the introduction of the State Quarter program.

Are these prices in a bubble or is it a steady upward trend? I don't know but I think that, if you have the opportunity to buy nice coins at a reasonable price, then you should do so. They certainly aren't going to be A LOT cheaper in the long run and, yes, some may continue to RISE. JMHO.

I'd be very surprised if the increased demand and prices (including even for circulated examples) has much of anything to do with the 1921 Morgan and Peace dollars. This started months ago, at the time there was a shortage of physical silver, and has continued, since then. Other generics, such as Walking Liberty Half Dollars, and many other segments of the rare coin market have also risen in value. And has been mentioned in other threads, collectibles, in general, have been very strong.

Are MS65 Morgans generic for those who desire physical silver? And yes, there are millions of Morgan, I guess I've never thought at that grade level that they would attract bullion accumulators.

No, I don't believe that they are and I didn't mean to imply that they were necessarily being bought by bullion accumulators. Sorry if I gave that impression. My point was that many types of coins (and other collectibles) have seen very strong activity and price increases over the past several months. And I don't think it's related to the 1921 Morgan and Peace dollars.

philographer

Maybe it was suddenly for me because I'm not monitoring every day or every week. In fact, I thought I was so underwater with my box of 20 MS65 Morgans (all NGC fatties) that I put away 14 years ago that I wasn't paying attention to price.

To me it does seem like "yesterday" that MS65 Morgans were $135 or so--so $177 wholesale is quite a jump.

May be time to revisit the fatties

Walkerfan

@MFeld said:

@Walkerfan said:
Morgans have gone up across the board. Take a look at the recent CDN or PCGS price guide....there are little green arrows all up and down.

My friend just bought a Morgan 65 and, while he was haggling with the dealer; trying to save a little bit of money the price actually went UP more, so he ended up paying even MORE the next day. I told him not to wait. We were talking about it and theorized it is because of the new 2021 Morgans and Peace dollars that have come out and stimulated interest in the rest of the series. Much like what happened to Washingtons, in 1999, with the introduction of the State Quarter program.

Are these prices in a bubble or is it a steady upward trend? I don't know but I think that, if you have the opportunity to buy nice coins at a reasonable price, then you should do so. They certainly aren't going to be A LOT cheaper in the long run and, yes, some may continue to RISE. JMHO.

I'd be very surprised if the increased demand and prices (including even for circulated examples) has much of anything to do with the 1921 Morgan and Peace dollars. This started months ago, at the time there was a shortage of physical silver, and has continued, since then. Other generics, such as Walking Liberty Half Dollars, and many other segments of the rare coin market have also risen in value. And has been mentioned in other threads, collectibles, in general, have been very strong.

Even better and I'm glad that you pointed this information out. Sounds more stable, promising and healthy for the numismatic market, in general, than just a marketing 'bubble'.

MFeld

@Walkerfan said:

@MFeld said:

@Walkerfan said:
Morgans have gone up across the board. Take a look at the recent CDN or PCGS price guide....there are little green arrows all up and down.

My friend just bought a Morgan 65 and, while he was haggling with the dealer; trying to save a little bit of money the price actually went UP more, so he ended up paying even MORE the next day. I told him not to wait. We were talking about it and theorized it is because of the new 2021 Morgans and Peace dollars that have come out and stimulated interest in the rest of the series. Much like what happened to Washingtons, in 1999, with the introduction of the State Quarter program.

Are these prices in a bubble or is it a steady upward trend? I don't know but I think that, if you have the opportunity to buy nice coins at a reasonable price, then you should do so. They certainly aren't going to be A LOT cheaper in the long run and, yes, some may continue to RISE. JMHO.

I'd be very surprised if the increased demand and prices (including even for circulated examples) has much of anything to do with the 1921 Morgan and Peace dollars. This started months ago, at the time there was a shortage of physical silver, and has continued, since then. Other generics, such as Walking Liberty Half Dollars, and many other segments of the rare coin market have also risen in value. And has been mentioned in other threads, collectibles, in general, have been very strong.

Even better and I'm glad that you pointed this information out. Sounds more stable, promising and healthy for the numismatic market, in general, than just a marketing 'bubble'.

On the other hand, as for the large price increases in 1921 Peace dollars...😉

Aercus

Market has been heating up for a while now (at least 9 months or so). I noticed it in popular collector coins like 1909 vdbs, etc. We've just reached the point where we have a supply constraint, so things are going for premium prices now, which is dragging up the market. A welcome change from the previous years!

ricko

There has been a strong market for silver of any type for a while...and this is coinciding with a strong collector demand as well... possibly influenced by the pandemic shutdown, stimulus money, hobby expansion. Cheers, RickO

DelawareDoons

@philographer said:
Maybe it was suddenly for me because I'm not monitoring every day or every week. In fact, I thought I was so underwater with my box of 20 MS65 Morgans (all NGC fatties) that I put away 14 years ago that I wasn't paying attention to price.

To me it does seem like "yesterday" that MS65 Morgans were $135 or so--so $177 wholesale is quite a jump.

May be time to revisit the fatties

Drop me a line of you're parting with any. Working on my own little hoard of fattys now.