What the heck just happened on the 2021 Morgan & Peace prices?
claychaser
Posts: 4,406 ✭✭✭✭
I've seen a big drop in prices in offers to buy live coins, as low as $95 to $105 levels.
This seems to me a much larger drop off and earlier in the delivery cycle than other programs.
Maybe there was just too many mint offerings too close together (T-2 eagles, reverse proof eagles, the dollars, etc). Or could it be the actual coins in hand just don't have surface look of old tyme BU Morgans? I find them somewhat unattractive.
What see ye pundits?
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Judging by my own coins that are coming in, they have lots of quality problems.
Probably the quantity buyers are screening their deliveries and just dumping raw any they don't think they can pull a 70 on. It's like going through a bag bag of pennies and those are the returns.
They are only selling retail for 150, except for the CC. What do you expect them to buy then at?
As I said at release, the mintages on these are too high especially if people don't want a full set of 6. The verdict is in: people don't want a full set of 6.
My conspiracy theory, big boys realized the sneaker bros are in over there head and figure they over extended themselves on the 3 releases. They put out decent (not great) buy prices early on. Sneaker bros got gready thinking, like stonks, prices only go up. As the actual shipping dates approached big boys in a coordinated effort slightly lowered the buy offers to give the appearance of falling prices. Sneaker bros hold tight, big boys drop to basically cost, sneaker bros freak out when they realize they have thousands tied up (that they don't have) in something they know zero about and panic sell.
Outside of that, 🤷
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If the sneaker bros take it in the shorts 🩳 am all for it
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They have a very big problem with quality. Absolutely ridiculous. 5 months and they deliver junk in lousy packaging.
🎶 shout shout, let it all out 🎶
See original Morgan & Peace dollar thread
Which one? Seems like they all talk about Morgan/Peace.
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Buy the rumor, sell the news. Same thing happens in the stock market, stocks go up before earnings (excitement) and sell off once everyone see the results/behind the curtain. Also didn’t help with the choices on the look/feel of the coin. They look nice but kinda have a cheap finish IMO.
Should be interesting... I am surprised if prices are dropping already.... will have to look around. Not really after one, but I expected they would enjoy a significant flipping market for several months. Cheers, RickO
Wanted to get three sets (one each for my kids) but managed to snag only two of the CC.
Nevertheless, my youngest decided to offload them right away and is laughing his way to the bank because he sold them righ away and did pretty good before the hype died down.
So yeah, many of these may find it's way back to the mint because of the crappy quality (and the fact that quite a few of the flippers who were holding on for prices to rise panic and offload them).
https://www.pcgs.com/setregistry/u-s-coins/quarters/PCGS-2020-quarter-quest/album/247091
Im not planning on flipping, but is sad to see the quality of some of the coins on here....not suprised.
Meanwhile back at the mint: "what do you mean refund!?"
Ounce by ounce the stack grows .
Poor quality coins will certainly add another blemish mark on the mint.
There is no reason for this to happen with the amount of time they had to strike these.
I only purchased a single Peace coin which I had not planned on opening but now I probably will.
Wayne
Kennedys are my quest...
I’ll probably buy a few, in a couple years, and I’m one of the biggest Peace dollar enthusiasts out there. I just got tired of mint release and flipping shenanigans.
The quality of my first two coins is fine. It's just that the finish makes them look cheap--much worse than original silver dollars. I guess these are "satin finish" but that finish just saps all the life out of the metal. My guess is these will drop below issue price before long, and will not be surprised.
IMO:
Right now, for the raw coins, it is a function of the presale format, the various HHLs that were set, speculative buying, sudden availability, perceptions on quality - all playing into supply and demand.
However, if these turn out to to be tough to get a 70 grade, and if the mint continues the series, then we will likely see stabilization and perhaps even some price growth in the MS70 market.
That said, right now, every coin listed in the PCGS pop report is a 70. (likely bulk submissions with minimum grade request by the big guys).
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I am sooooo glad I did not buy into all this hype, these look like cheap Chinese knockoffs. The good news is this should hopefully kill off all the flipping (and other) threads on these ugly things quickly.
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I assume you are referring to BST prices. Many sellers at once equals lower prices. BST Supply is high.
Repetition of ignorance is ignorance raised to the power two.
If they keep cracking them out in future years then they might as well be bullion. If they are a one year issue then I think the will be OK long term.
As for the finish, it seems that some people prefer a "business strike" appearance. Maybe if they treated them like the unc. 40% Ike dollars people would be happy?
Apparently word got out that I bought some...
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I actually feel exactly the opposite. I find the coins to be gorgeous and far better looking than the original as an artistic expression. Yes, they have a different finish. So what? It's the same finish as ASEs and there are probably as many ASE collectors as there are Morgan $ collectors.
I wouldn't pay anything above melt for these. I might have been interested if they looked more like the coin below.
I committed mine early on to a BST buyer at the current offering then.. Just got them and waiting for my shipping label.
Has anyone gotten the peace dollars yet? I'm holding out hope they look better being high relief...
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The Peace Silver Dollars are Not High Relief...
I don't like the way they did the CC mint mark. Looks strange as a raised bump. I agree that if they looked like ones actually minted back in the 1800's I would have wanted them all.
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Something tells me that If these coins were selling for $500/each there wouldn't be as many complaints...
Cart... horse...
Who knows?
I like them. The details are very sharp. Same finish as the ASEs which people love. I don't see why anyone is so disappointed. They look 100x better than the Mint's artist rendition.
by definition it is not a mint mark. It is a privy mark.
Repetition of ignorance is ignorance raised to the power two.
The Peace look great. The morgans, uhhhh
"It's like God, Family, Country, except Sticker, Plastic, Coin."
I stand corrected. I do not like the privy mark then. Would look much better if they used the same look as one from the 1800's. It looks like a cheap bump added to the coin after it was minted.
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CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
They should have had the RCM strike and package them.
They couldn't/wouldn't since those mints no longer exist (as US Mint facilities).
I agree with you about the look. That's why I wasn't devastated that I missed out on those.
The speculation over these coins was rampant and well-reinforced by these message boards. Everyone did the math with a PCGS MS70 x the speculative prices on eBay. Honestly you guys who stayed away from the fiasco were wise. All business ventures and investments carry risk.
I would slightly disagree. People like me do want a set of 6, but can't afford them at these prices. So they pick 1 or 2 if they can and move on with a sigh..
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
The Deep State is behind it.
The Mint's game of hide the sausage with the delivery dates probably dissuaded the telemarketers from starting their promotions until they were sure they would have product to sell. Mail order rules are fairly strict that if you take an order and cannot deliver within "X" number of days you must offer refunds and etc.
I would not be surprised if they were buying them up now, and will have them slabbed and ready to go for Christmas. Hey, they're not sitting on a boat off of Long Beach, right???
It's a consensus not unanimous verdict.
When I look at that bump I feel like I should see the word "copy" there.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Agree, but I might go spot plus 20%
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People like what the like but I'd take an MS-64 100 year old Morgan or Peace dollar over these glorified commeratives (yea, yea, I know Congress says they are legal tender) all day long.
Another case of the prison of 2 minds.
I, on the other hand, feel like I can have an MS-65 Morgan, a 2021 Morgan AND an ASE!!!
They literally look like counterfeit Morgans. I don't know what the mint was thinking.
Boring.
Actually, that's how I feel about almost all U.S. coins including Morgan dollars.
No offense intended, but if thats the case, why do you post on so many threads about various US issues?
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Seems like most of your posts are either here or in US BST. So if it's so boring, how is it that you've racked up 20 freakin' thousand posts about it? Talking an awful lot about stuff you find boring.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
I said "almost all". Lol. I'm more interested in exonumia than actual coins. And I don't collect any series.
Wow
What’s the record for fastest to 20k?
I need to keep up