Buying Morgan Dollars in Bulk

doughmaking

I was wondering if I was to spend $2000 bucks on Morgan Silver Dollars that were Culls or commons or Almost Good to Fine grade. What do you think the fair price per piece should be? Is there a different price if I was a dealer to dealer? I heard somethin that Dealers have to rotate so much silver per month? I dont know if I heard it correctly?
Thanks for the help you guys/gals are great

Capstick

I would guess that if they are culls you would pay the going rate per ounce of silver.

doughmaking

So there is no added value for culls. good to know.
What about from dealer to dealer, do they get special pricing, like for what they paid for it?

WTCG

<< <i>I was wondering if I was to spend $2000 bucks on Morgan Silver Dollars that were Culls or commons or Almost Good to Fine grade. What do you think the fair price per piece should be? Is there a different price if I was a dealer to dealer? I heard somethin that Dealers have to rotate so much silver per month? I dont know if I heard it correctly?
Thanks for the help you guys/gals are great >>



The best price for coins you described would be whatever is closest to spot price for silver you can buy them for. Dealers will usually give you better prices when you buy larger quantities.

lilmint

At a silver value of $7.50 an ounze a Morgan is worth $5.80.in silver content. Now dealers are going to want more then $5.80 per morgan even for culls. You'll be luckey to buy them at $8.00 a piece from a dealer. You would probably do much better on flea bay or run an ad in your local newspaper a buy from the public.

Just my 2 cents!

JSsson

I see a lot of circulated Morgans at the shops I go to and I've noticed that most of them are priced from $8 and up. I think anything that is over 100 years old is a great buy at eight dollars a piece

Blackhawk

With the TV promotions now even the 1921 dollars are bringing a premium. Someone in the back of the NN was advertising a buy of $9 or $9.50 about a month ago.

doughmaking

DaveG

In the latest Coin World, Arizona Coin & Jewelry is offering to pay $10 for VG pre-21 Morgans and $8 for VG '21 Morgans and common Peace dollars. They're only offering to pay $6.25 for culls with dates (no holes).

Usually, dealers will charge another dealer less than they would a retail customer, because dealers usually buy a larger quantity and there's no question of sales tax in a wholesale (dealer-to-dealer) transaction. Obviously, you'll get a better price if you buy a larger quantity than if you buy a small quantity.

I presume you want to buy silver dollars as a speculation on the price of silver (unless you just want them to play with). If so, it has been my experience that silver dollars usually go for a premium to smaller denominations, so if you just want to buy silver coins for as small premium to spot silver as you can, then you might want to look into buying dimes, quarters or half dollars instead.

doughmaking

Well, Im sure most of you wont like the reason behind my wanting to buy Culls...
Its a 2 part reason,
First part is me and a bunch of guys get together and play poker every week, we have been doing this for the last 10+ years.
Soooo I thought it would be cool to use them as the Poker chips. I figure culls would be good cause they will be tossed around and I dont want to ruin a perfectly good coin, and I want them as cheap as possible.
The second part would be for a speculation of the price of silver, but that isnt really the main reason, the silver coins will always be worth more than reg clay poker chips.
So they are for entertainment value. I guess to live in the past.
Please dont flame me...haha
Thanks a bunch.
Oh and I am looking to buy more than 2000 worth but thats all I want to spend right now...

lordmarcovan

I'd have guessed six or seven bucks for culls, but that might not be possible anymore.

morganbarber

My father used to invest heavily in "junk bags" of pre 1964 silver. It was amazing what you might find. Although buying a dozen culls at you local shop will buy you just afew slickies, buying a bag from a major clearinghouse (bag=$1000) may bring you some nice dates. I suspect that dollars are better searched than other denominations, but, for the 100th time I have bragged aboutit on this forum, I did find a 1902-O Barber Half in a junk bag. The condition sucked compared to the 1964 Kennedy I traded for it.

EJB

Melt plus a buck...IMO...

Conder101

At the show in Cincinnati this past weekend at least one dealer was selling some well circulated, but not cull morgans for $9. And that was for pick in small quantity. I would imagine if you bought a large number or all of them you might have gotten them for $8. And yess dealer will get a little better deals, but on something like this where the margin is thin it wouldn't be much better. Of course there wuld be no tax on a dealer to dealer sale like there would on a retail sale.

DaveG

doughmaking,

Using them as poker chips is the best reason I've heard for buying cull Morgans!

It's gotta be more fun than playing Monopoly with real money.

DenverDave

<< <i>doughmaking,

Using them as poker chips is the best reason I've heard for buying cull Morgans!

It's gotta be more fun than playing Monopoly with real money. >>

doughmaking

Thats what i thought, just the weight and feel of them in my hands is fun about them....I would use gold coins if I could afford it...hahaha
Thanks for all the info i appreciate it.