@Panda4456 said:
Classic Morgan dollars have a high percentage of MS examples making them common coins compared to other coins on the market. There are literally thousands of uncirculated examples to choose from and only a few key dates.
People are spending $100+ for common 1921 Morgan dollars right now.
New Morgan dollars are a scam too. When the 2021 Morgan’s came out I bought about 50 of them. Bought them for about $80 dollars and sold them for $300+. Now the price is back down to $80. Good thing I unloaded those right away.
Good to know you're taking advantage of the situation. Hat's off to you for getting and flipping 50 of these hard-to-get coins.
…and don’t get me started on the stupid varieties people come up with on the old dollars.
There are all kinds of varieties for other coins too. A big difference with many is that people will pay for Morgan varieties.
What do you think? Are Morgan dollars one big scam?
They are no more of a scam than the price of an sVDB. Rolls of sVDB's were a couple of bucks in the 1940 Numismatist. Demand exposed post war and so did the price.
Demand sets the price not availability. You can have the rarest of the rare and unless you have interest the price will never reflect a perfect world. That's one reason pure collectors sometimes don't understand why certain items achieve lofty prices and others are inexpensive.
This discussion brought a thought to mind I have had before.
Having patrolled bourse floors since 1964.
Heavens streets are paved with Gold, Coin shows are paved with Morgans.
Some think this is heaven, and thats OK.
I for one preferred to hunt the series that are out of favor or not discovered yet by the masses.
I never look at Morgans at a coin show. The Morgans I have came out of tills and slot machines in Vegas, or a bank
when I was a kid
I've done alright, and had fun too. Whatever you enjoy. "have fun with your coins"
I like Morgans and have had several collections, many ways to collect them and yes they are plentiful but I don't buy them as a financial item but more of a enjoyment item.
Al
Comments
Just the latest in the endless stream of posts by people who feel the need to disparage what other people like, enjoy, and collect.
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Now listen boy, I'm tryin' to teach you sumthin' . . . . that ain't an optical illusion, it only looks like an optical illusion.
My mind reader refuses to charge me....
Confucius say
Thou shall not covet the other dudes coins. Pass the wasabi.
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Good to know you're taking advantage of the situation. Hat's off to you for getting and flipping 50 of these hard-to-get coins.
There are all kinds of varieties for other coins too. A big difference with many is that people will pay for Morgan varieties.
Far from a scam, it's a coin of endearment.
A difference here is that the person is able to make a profit on the coins.
Actually, I appreciate reading the opinions of those who see things differently than I do.
No. The UnFederal Reserve is the biggest scam out there.
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
You don't have to agree to avoid using terms like "scam"... coming from a guy who proudly "scammed" people on 50 coins.
?????? Who/what are you referring to?
They are no more of a scam than the price of an sVDB. Rolls of sVDB's were a couple of bucks in the 1940 Numismatist. Demand exposed post war and so did the price.
Demand sets the price not availability. You can have the rarest of the rare and unless you have interest the price will never reflect a perfect world. That's one reason pure collectors sometimes don't understand why certain items achieve lofty prices and others are inexpensive.
I could never get how someone can say this if you don’t like the price just walk away. I always say buy right and you will never be disappointed.
Hoard the keys.
The OP
This discussion brought a thought to mind I have had before.
Having patrolled bourse floors since 1964.
Heavens streets are paved with Gold, Coin shows are paved with Morgans.
Some think this is heaven, and thats OK.
I for one preferred to hunt the series that are out of favor or not discovered yet by the masses.
I never look at Morgans at a coin show. The Morgans I have came out of tills and slot machines in Vegas, or a bank
when I was a kid
I've done alright, and had fun too. Whatever you enjoy. "have fun with your coins"
Krueger
Hehehehe 🤭🤫
Yes, they are over-priced, when you look at survival rates, mintage numbers and Population/Census figures.
I believe what drives them are sheer collector demand.
They are likely the most popular coin to have EVER been collected.
“I may not believe in myself but I believe in what I’m doing” ~Jimmy Page~
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
Yes I think so. I think Lincoln cents come in second
I think there are far bigger scams.
I like Morgans and have had several collections, many ways to collect them and yes they are plentiful but I don't buy them as a financial item but more of a enjoyment item.
Al
It's clear some people have difficulty understanding how the "demand" side of "supply and demand" works to affect prices.
That implies that Morgan dollars and their popularity amount to a scam in the first place. But they don’t.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Coin folks are constantly obsessed with "rarity" which only considers the supply side.
I agree, I don't believe Morgans are a scam by any stretch of the imagination, but it wasn't really the point I was trying to make.