2021 Morgan/Peace
Ilikecolor
Posts: 99 ✭✭✭
I’m having a hard time looking at the price the 2021 CC minted Morgan’s are selling for. Especially when you look at what real CC minted dollars are getting. These 2021 CC minted coins are actually minted in Philly. The only two Morgan’s that are really minted in the location that bears the accurate mint mark are San Francisco and Denver yet the CC’s seem to be demanding a premium??? Someone please explain this to an old traditionalist….
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Oh boy….
Let me see …… where to begin 🤓🙀
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I think this whole scam is to wake up coin collectors to what is really valuable,
My GSA coins say the same….
To each his own but these coins have zero attraction for me. There are millions of Morgan Dollars struck in the years when they were made for circulation. I really don't get why someone would pay much more than melt for these novelty coins.
I was going to say set completion but that doesn’t explain why the CC is going for about $100 more than the O
Please start by explaining why 2021 CC Morgan’s with the same mintage as Denver minted Morgan’s are selling for a premium.
To be perfectly honest, I already know why but I’m interested to hear other opinions….
Ok I give up. I believe its because the CC Morgan is one of the most sought after and beloved. Due to rarity and their western charm!🤓🙀
Perhaps one reason all these Morgan’s are going to be popular ?where is someone going to get a graded69 or. 70
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Yes, I appreciate the CC minted Morgan dollars and own many.
I’m a coin collector not a bullion/ novelty collector. These CC bullion coins minted in Philly -
Wait, read that again - These CC minted Coins minted in Philly….
Sorry, is this the official or unofficial thread? 😉
He who knows he has enough is rich.
The modern collector anticipates that the CC privy will be a scarcity going forward, like the O privy. However CC coins have a greater appeal historically, Small Wild West Mint, low mintages and shorter tenure relative to the other mintmarks.
I think that is all it takes currently to bump perceived value in this market.
I don’t spend much time on this site but by your comment - it seems there must be a lot of discussion on the topic???
It is suspected that the initial household limit of 10 put a large number of CC and O into speculator’s hands.
The lower HHL of limit of the rest is suspected for the lower prices. There are more of them on the market.
I will say that the CC and O probably have some either not knowing or not caring they are minted in philly.
Sad that “perceived” has so much traction in today’s market. My real 150 year old GSA CC’s are worth the same as these bullion pieces…😞
Visa, Inc. just paid $150,000 equivalent for this female CryptoPunk with a mohawk, one of 10,000 other similar computer generated variant NFT's "minted" in 2017.
Do not try to make any sense out of the current modern mint coin demand for imaginary bullion CC privy's minted in Philly. The best explanation I can think of is too much money chasing whatever is hyped. At least when paying for the Morgan CC privy, they do get an actual .858 of an ounce of silver, not just a blockchain code of a silly art picture.
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This is reality- This right here is where we are kids.
Well it’s late and I’m old. Good night. Just one thing. I am not there and never will be. Give me Gold silver &fine coins 🤓🙀🙏😌
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Gold - yes
Silver - yes
Fine coins -my favorite yes!
Never say never - I’m invested in the crypto space and it has consistently outperformed all of the above.
Still doesn’t explain the reason for CC bullion to be worth more than S,D or P bullion….
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To your point, these are actually more scarce than original Morgans. Lol
Your 150 year old GSAs are more common than these. I just bought an unopened box of 5 1884-CC GSA so from 1980. It was one of 4 such boxes in the auction. So. I'm not sure that this argument really holds water.
It's pretty simple. All 4 coins have the same mintage. If you were only going to own one. It might well be the CC. Simple supply and demand.
Why do original GSA CC dollars carry such a premium? They are arguably the easiest coins to find UNC and they spent 100 years in a safe and didn't circulated in the Old West.
Years ago I completed the CC Morgan set.... and although this new one is Philly minted, it has the CC privy mark and I wanted to add it to the set. A personal preference... as it is with most coins for most collectors. I will be happy when they ship mine. Cheers, RickO
One could also argue that when's the last time a collector could add a MS69/70 Morgan (or Peace) to his/her collection (without resorting to the fantasy coin route)?
Until these coins are actually minted, and all the pre-sales distributed or cancelled on eBay, where the retail prices of all of these ends up by around Thanksgiving is actually still unknown. What will the supply be on eBay 2 weeks after these have been distributed. What is the actual collector demand?
Chances are the CC privy will always hold more value due to demand from those who can only afford one coin, and choose it due to essentially peer pressure on social media and TV coin shows, saying these are the best ones to get. Very few know anything about the CC mint history.
A lot of these are being bought by those who struck out at the Mint to complete sets, and the dealers have their allocations coming up to distribute at whatever prices they want to start with, after grading results start to show up.
For a lot of other modern coin collectors, the price will eventually be determined by the overall quality of these coins and how many 70's are available vs 69's.
My US Mint Commemorative Medal Set
Just take in consideration the availability now on the cc privy vs when they release in October. The HHL of 10 knocked a lot of would be owners out of the game. So the demand/hype is now. Once this shakes out, the demand will likely fall along with prices.
All bets are off for 70’s and if varieties are found. Can you imagine a PL or DMPL? Think about a 7 or 8 tail feathers? Can’t happen? Remember the Wisconsin quarter with the different leaves appearing? The mint loves hype. They can do these things to raise even more attention to these coins! **
**as always, just my opinion.
I absolutely agree🤓🙀
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Mine will remain in the mint box/capsule. I will keep it with my CC Morgan set. I am sure it will be at least a 69 and likely a 70. Over the years, I have only had to return one coin to the Mint and that was a proof ASE with a scratch in the obverse field - a very obvious scratch. They replaced it quickly. That was in the mid nineties. Cheers, RickO
I am hoping they leave the classic morgans alone when it comes to set competition. I have the full collection by year already. I am hoping they do something different on the registry. Only time will tell.
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Scarcity only doesn't interest me. The "real" Morgan's are more of an attraction for me given the historical connection and that they were released for circulation, coins for everyday use.
One might ask...
Why is the mint making coins to commemorate the 100th anniversary of the END of a coin series, when it's actually just the 100th anniversary of the Peace Dollar?
Why are they doing all the mintmarks on the Morgans and only the Philly version on the Peace?
Simple answer... Money.
The Morgan Dollar is far and away the definitive, most popular and widely collected US dollar (and some might say, a contender for most widely collected US coin in general). Millions of collectors worldwide. Not so much for Peace Dollars, which have never really gotten their due except from specialists.
The CC versions are the most popular because of the whole old west tie-in and will retain a premium but I think will soften over time once delivered and the crazy dies down.
jmho
RIP Mom- 1932-2012
Well technically they say $1 and are legal tender ,I think ,so they aren’t not real coins🤓🙀
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Technically yes but technically they weren’t minted for circulation at the value stated and the bill authorizing them references them as numismatic items.
When the grading begins I see prices for these coins going thru the roof. You will have to keep your mouth shut and your checkbook open.
Well said, Hattrick!
Way too much of an interest in these and way too many collectors wanting to complete sets to let this one go idle.
I too believe it will be full throttle, or whiskey throttle, soon.
Best have your helmet, knee and elbow pads ready:
And technically you can spend them. Take a modern comm. no stated value can’t be spent. Look, I hear you but?🤓🙀
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Welcome to the Twilight Zone.
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Although it was made clear in the OP that these were not minted in Carson City, I will be a bit pedantic and respectfully correct this line to "I’m having a hard time looking at the price the 2021 CC minted privy marked Morgan’s are selling for."
I agree, when the context is relative to CC minted Morgans. The 2021 CC privy marked Morgans , as stated, are not minted in Carson City, and are not struck on 100% comstock silver planchets, and are honoring a mint that produced Morgans from 1878-1893 (discontinuously) - no connection to a 2021 100th anniversary.
However, the context is more appropriately relative to the other 2021 Morgans. 1) As has been mentioned, the ownership rights to the CC and O privy marked coins are currently distributed to a smaller number of entities than are the PD&S 2021 Morgans. Supply, demand, irrational exuberance, and FOMO are in play ATM regarding the first two 2021 Morgan issues, with irrational exuberance over the CC mystique additionally accounting for the difference between the CC privy and O privy.
I would conjecture that once grading pop reports start to be generated, that the CC privy marked 2021 Morgan graded 70 will hold premium. The premium on 69 grades will like drop dramatically, but still enjoy a bit of a premium over the other 2021 Morgan issues, because of the persistent misplaced CC mystique that will be applied to the privy mark.
Further conjecture: should the mint decide to continue to produce a modern Morgan series, it is doubtful that they will ever (in our lifetimes) use the CC and O privy marks again. If so, this isolation of the CC and O privy mark to 2021 will stabilize, if not drive up the premium for the 2021 CC and O privy marked 2021 Morgans over time.
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- DIVa (Designated Ike Varieties) Project co-lead and attributor
I had zero interest in the 2021 Morgan Dollars. Paying a high price for the 2022 “CC” is really silly. The coin nothing to do with Carson City. It’s just a gimmick. After spending 50 years as a collector hearing that the 1921 Morgan Dollar was the “red headed step child” in the Morgan Dollar set, I can’t get excited over these pieces.
I did buy the 2021 Peace Dollar in hopes that it will be a really sharp impression of the design. I see these sharply struck 1921 Peace Dollars, but I have never had a chance to buy one.
I am looking forward to it, as well.
"However, the 2021 Peace Dollar isn’t struck in high relief like the original coin. The 1921 high relief design rose higher than the border, which makes the design elements susceptible to damage. The relief of the 2021 Peace and Morgan Dollars matches modern commemorative coin specifications."
Reference
Yes, but if all of the design elements are sharp, as they are in the pictures, it will be okay.
I hope so!
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Most UNC Morgans were never released for circulation.
It is true, few modern collectors are well educated on Carson City Mint history. But they do know Carson City and they do know there was a short-lived Mint. That is all it will take to increase demand, pricing will follow.
At first I was leaning toward premiums settling in around 2001 buffalo tribute Silver $, but now I am convinced this is uncharted territory. Which is cool.....and interesting to see a product marketed to success matching the hype.
If anyone correctly forecasts the values 12 mos. from now they made a spectacular guess. Hit the Sportsbook.
Never released for circulation is not the same as never intended for circulation.
Then why is there a stated value $1 if not for trade and commerce. The twilight zone expands 🤓🙀
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It is non-circulating legal tender (NCLT). Reference
The 2021 Morgan & Peace dollars were authorized by H.R.6192 - 1921 Silver Dollar Coin Anniversary Act.
It requires the coins to be designated $1 in section #4, (a), (2), (A).
Another example is the AGE. See 31 U.S. Code § 5112 - Denominations, specifications, and design of coins.
The monetary designations for the different sizes can be found in section (a), and the requirement for including a "designation of the value of the coin" can be found in section (d), (1).
I forgot. Oh my. $1 face on silver coin is bad. $50 on 1 oz gold 🤓🙀
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