Why are prices going up for GSA CC Morgans?

DaveG

I've noticed that prices for GSA CC Morgans have gone up considerably over the past couple of years and they're continuing to go up this year.

For example, in early January "The King of Carson City" was offering to pay $230 for an '81-CC and $80 for '83-CC and '84-CC. In this week's Coin World, he's offering $270 for an '81-CC and $95 for the '83-CC and '84-CC.

I understood that "telemarketers" were responsible for the price increases of a couple of years ago, but I was wondering if anyone had any thoughts on why prices are continuing to go up.

IrishMike

DaveG, that topic came up at the coin show I attended today. The 91 is getting snapped up as soon as it comes up for sale according to the dealers. None of them had insight as to why. For some reason demand is growing for them. Don't know if it is new collectors or what.

cointagious

this seems to be a series that is driven by collectors attempting to put together sets and not so much by telemarketers. the keys, of course, being the 79, 90 and 91 cc. the two late dates seem to be as tuff if not tougher than the 79cc which is still available in limited quantity at shows.

TONEDDOLLARS

Ask the gsaguy. I bet he will have the answere

stman

Okay, yes prices are going up on these cc gsa's. I need only the 79 to complete the set.

But hey, We don't need to keep reminding people like gsaguy that prices keep going up. I may still want to pick up a few of these.

It was mentioned about the 90 & 91 getting tougher to get hold of, And this is true. And also nice ones are even tougher.

stman

stman

Just wanted to add the 91cc gsa is tougher to find in higher grade than the 90 and even 79. I'm confident gsaguy will confirm this, as he mentioned this to me a while back and I have found it to be true.

When I was at the CC show a week ago there were no shortage of any dates there. But that is where you would expect to find them.

But I'm pretty picky and nothing impressed me there.

Except a better date cc 66 dmpl, that was out of my budget.

stman

michael

demand demand demand it has nothing to do with supply just DEMAND

gsaguy

As a buyer and seller of the GSA coins for almost 20 years now, I've seen many of the dates cycle....especially the common date coins, 82, 83, and 84-CC. I've paid as high as $110.00 for them, and as low as $45.00!!!!

I'd have to examine my pricing records, but I don't think that dates such as the 78, 80, 81, and 85 have cycled quite as much percentage-wise.

The 79, 90, and 91 have been on a steady increase for many years. They sometime hit a plateau, and they sometime drop a tad, but on average they've appreciated steadily. I bought many 79-CC's at $1500 (they're now at about $3200) and hundreds of 90 and 91's at $200 (they're now in the $1100-$1200 range).

I think it's easy to see why this group of dates has done so well. For all three dates there were fewer than 6,000 coins each in the Treasury hoard. Now, think of how many have been cracked out of the holders. When collectors wish to put together a complete set, they've got to pay a premium for these three dates.

STMAN's correct, the 91-CC is easily the toughest date in the entire series to find in above average condition.

Finally, if you guys think these things have gone up dramatically in the recent past, just wait until my book is published!

GSAGUY

Edited to add: On the common date coins, there are at least two major dealers buying coins for one or more telemarketers for an upcoming promotion. I know because I've been contacted by several looking for base grade common date coins.

DaveG

Thanks, gsaguy!

Well, that's one reason why I stopped collecting morgans - there ain't no @#$%^&* "telemarketers" messing with the market for No Motto New Orleans gold or Seated halves and Seated dollars.

gsaguy

I know how you feel DaveG! Of course, you can always ride the wave!

GSAGUY