Options
WHO IS BUYING THE 2024 MORGAN & PEACE SILVER DOLLARS
HATTRICK
Posts: 2,098 ✭✭✭✭✭
Now that all the 2023s have been released who is looking forward to acquiring the 2024s ? For me I believe 2023 is a one and done. Bought one of each in PCGS 70 for my collection and two of each of the uncirculated and proof for the grandkids. They are beautiful coins but I don't plan to buy them annually. I think they should lower the mintages next year to better equal what the demand will be as I believe the flippers will mostly pass them by.
" If you push something hard enough, it will fall over. " The 1st Law of Opposition from The Firesign Theater
6
Comments
You might very well be correct, but recent history suggests they will take the opposite approach. Hell, the simple fact that these were not a one and done in 2021 suggests they are taking the opposite approach. The fact that they went beyond original finishes, to DCAM proofs and reverse proofs in 2023, suggests they will take the opposite approach.
They are not going to risk a fiasco like 2021, where they under produce, have a bunch of pissed off customers, and create a windfall for a fortunate few in the secondary market. The new model includes taking care of the Big Boys, letting them make their money through bulk rate TPG submissions, and also satisfying retail demand through subscriptions. To the extent that demand exists.
They made their best guess as to demand, and came pretty close this year, notwithstanding the pooh-poohing here ahead of each and every release. 4 out of 6 coins sold out, with total sales exceeding 1.5 million coins at around 4x intrinsic value.
Expect proof mintages to be reduced, because they did not sell out at 400K. Expect the other mintages to remain the same, because they did sell out. If you are correct and there is less demand next year, that will be reflected in failures to sell out, and reduced mintages in future years. Don't expect them to go back to 2021 on spec, because it's not going to happen.
I like them and will continue buying.
Successful transactions with forum members commoncents05, dmarks, Coinscratch, Bullsitter, DCW, TwoSides2aCoin, Namvet69 (facilitated for 3rd party), Tetromibi, ProfLizMay, MASSU2, MWallace, Bruce7789, Twobitcollector, 78saen, U1chicago
I plan on collecting all of the varieties in 2024. I will probably buy 3 of each variety.
Here is my Washington Quarter Variety Registry Set
This is my Washington Quarter Proof Variety Registry Set
Well looking at the mint website, it lists the mintage for 2024 Morgan and Peace proof to be 300,000, which is up from 275,000 for 2023. The reverse proof mintage for 2024 is 262,500, which is up from 250,000 in 2023. They do not list the 2024 mintage on the 2024 Unc. at this time.
Here is my Washington Quarter Variety Registry Set
This is my Washington Quarter Proof Variety Registry Set
Corrections on 2024 mintages
Proofs are 300,000 down from 400,000. Uncirculated stays at 275,000 and the reverse proofs are up to 262,500 from 250,000. That is a strange number but as always subject to change by next year.
This shows they are doing EXACTLY what I said they would -- matching mintage to perceived demand.
RPs were the easiest sell out, so they are bumping up the mintage a little. So much for everyone who predicted they would languish after all the subscription cancellations.
The problem here is everyone is looking at everything through the prism of a quick, easy, lucrative flip. That's not this. And, if the Mint has anything to say about it, that is probably gone forever.
Some people actually want to own the coins, or are happy with very modest flips. That's who the Mint is now catering to.
I received my PGCS 70 Reverse Proof set and it was flawless and beautiful.
Not like so many slabbed 70 coins with obvious defects visible to the naked eye. For that reason I will no longer gamble on getting a 70 coin in a 70 slab. I will pause buying until something very special is issued.
You are 100% correct on “gambling on getting a 70 in a 70 holder”; both major grading services are loose on the 70s early on and tighten up later. This has been the case for many years. Personally I have returned two 70s (modern gold) to the sellers for exchange due to obvious “hits” in the obverse fields that should have never passed for a 70.
First experience with the newest service out there; I have not had the experience of 69s passing in 70 holders. They seem to be more strict.
They should really get some dies sent over to the old Carson City Mint. Or at least switch up which facility is producing these each year.
Custom album maker and numismatic photographer, see my portfolio here: (http://www.donahuenumismatics.com/).
Not me.
Methinks a glut is nigh.
Hmmmm...
BST references available on request
The idea of a modern revival of these series is a good thing and should continue. It should be expanded to more series.
+1
Mike
My Indians
Danco Set
Not I
INYNWHWeTrust-TexasNationals,ajaan,blu62vette
coinJP, Outhaul ,illini420,MICHAELDIXON, Fade to Black,epcjimi1,19Lyds,SNMAN,JerseyJoe, bigjpst, DMWJR , lordmarcovan, Weiss,Mfriday4962,UtahCoin,Downtown1974,pitboss,RichieURich,Bullsitter,JDsCoins,toyz4geo,jshaulis, mustanggt, SNMAN
Yeah, I'll keep buying them. After the fiasco of 2021 (yes, I did get three of each, but it was annoying to work through the crashed Mint website), they did an excellent job of adjusting their quantities, and allowing subscriptions, so that the only pain is paying for them. But that's a small portion of what I have spent on coins this year, so I'm not particularly bothered by it. And I think they're pretty.
For me it will be the 2023 coins and done. I wanted them for type, and I also wanted to have the Peace Dollar design fully struck.
I have a 2021 Morgan & Peace and I have the 2023 Proof & Reverse Proof Morgan & Peace.
I like them and I'm glad I got them but I will not be buying the 2024's
I like the design and the quality of the coins. I am still missing the 2021 CC raw and will buy next year. I plan on getting about 3 of each design going forward.
Here is my Washington Quarter Variety Registry Set
This is my Washington Quarter Proof Variety Registry Set
Although I have the full set of 2021
And 2023
I haven't decided if I want to continue. I don't collect Morgan's so getting Morgan's is a waste and while I like the Peace, I'm not certain I want to do the set since I have samples of the various finishes.
My current registry sets:
20th Century Type Set
Virtual DANSCO 7070
Slabbed IHC set - Missing the Anacs Slabbed coins
I got all of the Peace Dollars this year, and only the reverse proof Morgan.
Not sure on the 24’s to be honest.
Initially not planning to get them, but maybe I’ll change my mind.
I hadn’t planned on the 23’s but ended up getting them.
My YouTube Channel
I’m in. I have all the 2021’s, the 2023’s and I have subscribed to one each for the coming years. I believe this is the beginning of a long term series and we have the opportunity to get in on the ground floor.
You probably won’t be able to quit your job and live on flips, but you can assemble a nice affordable collection and have them all.
I think I'm in. Hopefully our hosts will start a registry set so a few thousand of us can be all tied for the 1st place!
Haven't gotten any since inception, aside from picking up a couple of them for a customer who was looking.
Of course, I picked them up on eBay, where I can buy four old silver dollars for the price of one new silver dollar from the mint.
Careful..... lest you offend HoneyBucket.
Hmmmmmm...
😉
I did not buy the 2021 or 2023 issues and will not buy the 2024 issues. I do not own any Morgan or Peace Dollars, I collect other coins, United States and Canada.
I've got a few Morgan (1878-1921) and Peace (1921-1935) dollars and calling it good. No plans to buy any fancy-priced commemorative dollar pieces in 2024.
Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein
I will get them. May be low mintage that everyone is looking for since most seem to be out. I get them for my collection and not to flip, don't get anything else from the mint normally.
I have the 2023 dates, but I'm not buying anymore.
Spring National Battlefield Coin Show is September 5-7, 2024 at the Eisenhower Hotel in Gettysburg, PA. WWW.AmericasCoinShows.com
Do not even dream of flipping the 2024 reverse proofs. Did not sell out this year and they are minting an additional 12,500 sets for big guys in 2024. The mint will milk this cash cow.
If the 23’s drop significantly in value by next year , I definitely won’t buy any 24s from the Mint. May purchase 70s when they also drop in price to keep the series complete.
Funny this should come up, today I cancelled all my Morgan & Peace Dollar subscriptions.
INYNWHWeTrust-TexasNationals,ajaan,blu62vette
coinJP, Outhaul ,illini420,MICHAELDIXON, Fade to Black,epcjimi1,19Lyds,SNMAN,JerseyJoe, bigjpst, DMWJR , lordmarcovan, Weiss,Mfriday4962,UtahCoin,Downtown1974,pitboss,RichieURich,Bullsitter,JDsCoins,toyz4geo,jshaulis, mustanggt, SNMAN
Not I. I prefer the originals. Can't ponder the roads the new ones traveled,mint to your house. Unlike the older ones there is more history to the original versions.
I have not had any interest in nor have I bought a single one of the "new" morgan dollars. I will be following that same line and will have no interest in buying a 2024 version.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
I liked this set for an example of each finish for a type set. Now that I have them, there is no interest from me to have any more.
My Jefferson Registry:
https://pcgs.com/setregistry/alltimeset/191115
No more for me. I purchase types only in my old age.
What do you mean "did not sell out this year"? I am on the website right now, and they are not available for purchase. The only 2023s currently available are the regular proofs.
They are making an additional 12,500 because they expect to sell them, not because they expect to add to the pile of unsold inventory. I get that reported sales are less than 250K, and I don't know why, but they are indeed sold out, if sold out means they are not available for sale from the Mint at original issue price.
Depends on how you see it. To me a sell out is when the maximum published mintage is sold. The mint not having them available for sale is not a sell out to me. The mint is not even calling it sold out.
Want load up on some.
Fair enough, but to me, a sell out is when something is no longer available for sale, with no promise that it ever will be again. People are speculating as to the fate of the returns, but there were a lot of them, and a lot of time has passed with them not being made available.
Why so many returns, and why have they fallen off the face of the earth? There might be something we don't know that will either cause them to be destroyed, or returned where they came from without ever being made available to the public. Maybe some kind of accounting or inventory glitch, and they will magically just be added back to the count some week.
Yes, "sold out" has a very specific meaning to the Mint, and months typically pass before unavailable items are officially designated as "sold out" by the Mint. The 2024s might very well turn out to be terrible flips (that is certainly the Mint's plan with all new releases now), but saying the 2023s did not sell out when they have been difficult to obtain from the Mint since shortly after noon on the day after they went on sale is just not an accurate representation of demand relative to available supply.
If it does turn out that they only sell 200K 2023s, you can rest assured people will get excited as that fact drives secondary market prices higher, and that will only feed demand for 2024s as people hope for a repeat.
I’ll buy a set already slabbed. No more gambling with buying from the mint for me.
I will continue my single subscription. I have the complete set so far plus a few Carr's. They are pretty.
I bought this year and was not overwhelmed, will not continue.
These are likened to 1923 Peace
No one wants them
I shouldn’t have bought 2023 = 1922
No is my answer.
Based on my limited knowledge it appears to me that the secondary market on the 2023s is dying a slow death.
Please post any info you have on the how they are holding up price wise at this point.
actual sales not "pipe dreams" please.
I see that a forum member has posted on his buy/sale thread "CLOSED DUE TO NO INTEREST"
I’m still undecided on the 2024 Proof peace but all the others I’m a no. I like the peace proof the most and that would be the one I may continue. I never collected Morgan’s so no real interest going forward.
My current registry sets:
20th Century Type Set
Virtual DANSCO 7070
Slabbed IHC set - Missing the Anacs Slabbed coins
I'm done with these.
I probably will buy the 2024 uncirculated Morgan and Peace dollars but most likely will not buy the proof, rp. Got all six for 2023 and that will be enough.
Somebody else will be buying.
Not me.
If I was going to spend any money on coins, it would be for older- original Morgans and Peace dollars, not this new stuff that has no unique characteristics.
I purchased one of the 2021’s and that was it for these.
Nothing against them. They’re very well done. Just not my thing.
I like old stuff.
Happy, humble, honored and proud recipient of the “You Suck” award 10/22/2014
I’m out, with so many millions of the originals out there, I’d rather have one with some character marks.
If I want modern bullion it has to be much closer to spot pricing. Lots of beautiful stuff out there with very little premium.