Collecting Modern Morgans
cinque1543
Posts: 46 ✭
Hi all. Newbie here. I collected coins as a kid and am thinking about getting back in the hobby. The big change that has occurred since I was a kid is the introduction of slabbed coins. So my question, I think, is really about slabs.
I've always liked Morgan dollars and might start looking at the older dates one day. But right now I really like the modern Morgans (2021 onwards) and am thinking about starting a collection. I thought I was ok collecting Morgans in the capsules issued by the US Mint. But a coin collector friend of mine says I should go for MS70 coins in slabs to build a "higher quality" collection.
Two FYI's. My goal is to build a little set of really nice coins. I don't want to overpay, but resale value is something my heirs will have to deal with. Also FYI, I'm not interested in proof coins.
What do you think about collecting this series in mint-issued packaging versus in slabs? If in slabs, PCGS or CAC? (Another FYI: I don't care for the white background in NGC slabs - just a matter of taste.) Thank you in advance for your responses.
Comments
Welcome to the Boards! Good questions.
I think for the new issue Morgans (and other new issues) you can't go wrong with mint packaging. In fact, I would prefer them that way, but that's a personal preference.
Just search for the cleanest examples you can find.
Most of these should be grading in the 69 and 70 grades anyway, so paying for the plastic and losing the mint packaging seems a waste.
my 2c ...
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242
There's no right answer. It's strictly a matter of personal preference.
The only reason to buy graded/certified examples is if you want to start a registry set. In that case I'd buy CACG graded coins personally.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Personally, I would stay away from moderns.
Good choice, get engaged in the hobby. You may find other series to enjoy. They are beautiful coins.
The Morgans are affordable and available, do both if you want. Its it's not a huge outlay and the demand will be there for either down the road.
In researching modern Morgans, I think I am learning the value of patience. According to the PCGS Coin Facts site, a 2021 Morgan in PCGS MS70 sold for $2,200 in 2022. Today, the very same coin (same PCGS certificate number) is being auctioned on the Stacks Bowers site, with a. current bid of $160. Another 2021 Morgan in PCGS MS70 (same type of coin, different PCGS certificate number) is available to "buy now" on a different site at $300.
I guess the popularity of the 2021 Morgans was high in 2022, but has since subsided somewhat. Those who bought the coins directly from the US Mint, however, still seem to be receiving a good premium if their coins were graded at PCGS MS70.
Sound right?
Coin collecting (coin buying) is intended to be a fun hobby that brings joy and education to the hobbyist. All coin were "modern" when they first fell from the coin press. So this particular hobby is rich with history and deep in opportunities. Collect what you enjoy! We are all just caretakers of our coins, they will belong to someone else eventually. So have some fun with them. Put a set together. I would not consider the moderns of today A choice as an investment however. But you never know it might work out that you make some money and enjoy the process at the same time.
Nice sentiment!
If it sold for $2200, they was something else going on. Was it part of a set?
Collect what you want, but I personally don’t slab bullion and that’s all modern Morgans are.
Disclaimer--I have bought every "modern" Morgan from the Mint. I like them.
That said, I don't believe that there is a real upside in the price of these things. The 2021 coins were poorly planned by the Mint, and their price shot up. But I don't see them going up a lot (relative, say, to inflation) in the future. And the ones since then are in very good supply, and not showing any particular sign of having a good upside.
From here, I believe that they essentially are just a play on the price of silver; essentially, they're just pretty bullion. And I believe that's true whether you buy them in the Mint's packaging, or certified.
So, collect them if you like them, but don't think you're making an "investment." And don't overthink the form in which you buy them.
PS--You can buy a lot of "real" Morgans, in pretty high grades, for less than you'll pay for many/most of the modern Morgans.
Sounds like good advice.
I probably didn’t make this clear, but whatever I choose to collect, it won’t be for investment. My point on modern Morgans was really to say that it might be better to wait for prices to settle rather than buying a slabbed coin just after its release (assuming one wants a slabbed coin).
As a longtime collector, I've been somewhat dismayed by the Mint's issuance of tons of new series and special issues - many of which have fed the frenzy for instant rarity and hyped-up values. It attracts the wrong types of buyers, in my opinion.
However, as a longtime collector of several Modern Bullion series, I can attest to the fact that over time - the values have risen nicely for many of these types of coins, particularly of the earlier issues in each of the series that I've collected over the years.
Therefore, my suggestion would be similar to that of your collector friend in terms of buying coins graded as 70s. The big caveat is that the populations are much higher now for currently-graded 70s than they were 30 years ago, so that strategy may not be as lucrative in the long run as one might hope. But it might.
In the final analysis, it's hard to predict how well a new series will perform financially, but if you enjoy the coins you should absolutely keep up with the collection and keep it up to the highest standards that your budget will allow. And if the coins are new silver, keep an eagle eye out for milk spots or unattractive toning and replace any coins that start to develop problems.
If you really like the series, consider two sets of the nicest ones you can find - one set in OGP and another set in 70 slabs. If you like the coins, don't worry about overpaying too much. If you overpay now and the series is popular, someone else will probably overpay in the future.
I knew it would happen.
Picked up a nice CAC 69 one recently. Neat series one can start collecting from ground floor. Plan get on board that.
Well done. If I go with slabbed coins, I like the idea of going with CACs. I looked at the CAC population reports, and the numbers for most years/privies are very low. So it might take a while to build a CAC set. That's ok though. That can be a fun part of collecting!