2021 Morgan Denver Value skyrocketed ?????

Absolution

Does anyone know why the value of the 2021 Morgan Denver value shot up like crazy?

Jzyskowski1

66 % lowest 70/69 grading. Lots of problems with the physical coins 😉🙀🦫

rte592

175,000
And a guy pushing them on the TV?

BillJones

If it’s gone way up, given the “rarity,” I’d say it will be on its way down in the coming months. The 2021 remakes drove this.

ricko

There were a lot of complaints about the quality of those coins here on the forum. I would say that may have contributed to the rise in prices of good coins. Cheers, RickO

SPalladino

It's been a while since I studied the pop reports, but as of my last thorough check in March (see below), the Denver minted 2021 Morgans had a significantly lower rate of making 70. The price of of the 2021-D Morgans is driven, in part, by those seeking a complete set of 2021 Morgans in MS70.
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bignubnumismatics1

The Denver coins were massacred by the mint. I’ve seen many that weren’t properly sealed in the packaging, tumbling about. More than half of the ones sealed in OGP have bad hairlines.

fathom

Huge overall Morgan collector base. Nobody knows where the moderns will eventually settle in popularity and demand it's still early in the rollout.

The proofs may decide significantly, depending on how they are manufactured.

If the enrollments appear lackluster, please no overproduction.

Sorry to hijack, could not help myself.

CoinMeister

When these originally rolled out, a lot of collectors were shut out of the offerings. Then the mint delayed the shipping of these coins by months. No one knew which one would end up being the “key”. So people tried for all of them, some even on the secondary market. Most assumed either of the two privy marked coins or the Peace dollar would be the “key”.
Once the mint shipped these, there was plenty of problems with coins out of the holders, marks on the coins, etc. Then sending in quantity to obtain a 70 would prove even more difficult. Then add in the fact most wanted a complete set.
The D mint had the most obvious problems when I received mine. The numbers provided by @Spalladino proves this point. Thus, supply and demand is driving prices up. Where these settle in is yet to be determined even a year later!

vulcanize

Wow!!! Just checked and the PCGS Price Guide Value is currently at $550

Had sent in three of the 2021 Denver Morgans and one came back as an MS70 while the other two were MS69 ($150) and an MS66 ($115).

Sadly my other 2021 Morgans and Peace dollars all got designated as MS69.

TxCollector

@vulcanize said:
Wow!!! Just checked and the PCGS Price Guide Value is currently at $550

Had sent in three of the 2021 Denver Morgans and one came back as an MS70 while the other two were MS69 ($150) and an MS66 ($115).

Sadly my other 2021 Morgans and Peace dollars all got designated as MS69.

If you think the pcgs price guide is high then take a look at where the ms70 d’s have been transacting on eBay lately. Those price levels make the PCGS values look pretty tame by comparison. I'll be curious to see the next enrollment volumes for the 2023 coins that get released by the Mint.

spyglassdesign

@vulcanize said:
Wow!!! Just checked and the PCGS Price Guide Value is currently at $550

Had sent in three of the 2021 Denver Morgans and one came back as an MS70 while the other two were MS69 ($150) and an MS66 ($115).

Sadly my other 2021 Morgans and Peace dollars all got designated as MS69.

This is one time the price guide actually is low at least when it comes to eBay. Almost universally on most other coins I look at its a bit high based on auction data from multiple houses (gc, ha, sb and eBay).

TxCollector

The jury is still out on the 3 D’s that I sent in earlier this year to PCGS. Can’t say that I won’t be tempted to sell any excess 70s if I get more than one back.

SPalladino

Eight posts up thread, I posted the percentage of 2021 Morgan and Peace dollars making 70...as of 3/22/2022. Here is the updated report as of 8/21/2022.
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Notable:
1) The percentage of 70s by PCGS has declined slightly for all of these issues since March, which saw a decline vs February. One factor would be the continued dilution of the early bulk submitted coins with a likely minimum grade request of 70.
2) The Denver Morgan is the toughest to get in 70 by PCGS by a large margin, with only 61% grading 70 to date.
3) Near 20-25% of mintage of each each issue has been submitted to two major grading companies thus far.