crazy morgan prices? do you remember?

MoneyLA

Hi. anyone remember the crazy PEAK prices for common date morgan dollars? If so, what were they for

ms65
ms66
ms67
ms68

thanks, cheers, alan mendelson

DennisH

I think the peak for generic MS65 Morgans was 1986/87 at about $800+.

coingame2000

Hi Alan,

According to the June 2, 1989 Bluesheet (generally acknowledged as the "peak" sheet) following are the "sight-unseen" bids for common date Morgan dollars:

MS64 $ 160

MS65 $ 510

MS66 $1,300

MS67 $3,950

Although not reported in the Bluesheet -- MS68 Morgan's were $10,000+ wholesale.

Mike

MoneyLA

Mike, thanks and those prices sound familiar.

I doubt we will see those price levels return, even in this bull market. In the last couple of Heritage Auctions, some of their ms67s failed to reach reserves as low as $800.

cheers, alan mendelson

DennisH

I'm sure the market was already far on the downhill side of its peak by mid-1989.

coingame2000

Dennis,

In regard to generic Morgans (as well as many other generic coins) you're absolutely right. In the summer of 1986 (just prior to any meaningful supplies of PCGS graded coins reaching the open marketplace) generic Morgans graded MS64 were $300 plus while MS65's were $800 plus.

Mike

MoneyLA

We all know that Wall Street investment plans were responsible for the surge in Morgans back in the 1980s.... Im surprised, however, that Morgan prices are as low as they are in THIS (bull) market.

Is there series dead? or just no hype to push prices?

cheers, alan mendelson

coolkarma

According to Ellesmere Numismatics' "The Winning Edge", Issue 157, February 15, 1991, the peak for high grade generic coins was about May 1988. They indicate Morgans peaked at

MS65 $950.
MS66 $1650.

Those probably are full retail prices.



<< <i> Is there series dead? or just no hype to push prices? >>

- Alan Mendelson

I think it's just that high grade generic Morgans have proven much more common than people felt they were back in 1988.