Morgans topping out ??

bestday

Looking at the many quality Morgans in Heritage 's July FUN auction ,..are the Morgan dollars being sold into a topping price action ?

RedTiger

Morgans as a group, topped out in September 2004, and have been flat to down since. Some of the best dates advanced from the group top, however, those are getting hit too now. Hard to say what if anything will turn the trend around. Still a lot of air under the prices for some of the key dates. When prices increase 200% or 300% like a lot of key date Morgans have, a correction of half that increase is not unusual.

roadrunner

Topping out? They've been slugs for a couple years now. With the exception of the time when common date MS65's went to $150 or so, they've been uninteresting. One could say the same thing for the general classic UNC/PF market since early 2004.

roadrunner

dizzlecc

I think the combination of the increased attention in gold and moderns plus grade deflation rumors have reduced the interest in morgans overall.

According to the graph the topping prices was 2 years ago. You could be seeing discounted prices for lower quality coins.

It will be interesting to see what percentage of coins that have reserves meet them.

Shortgapbob

The Colorado Springs show seemed to have more than a normal amount (which is usually a lot) of slabbed Morgans sitting in display cases without much interest shown, except for individuals VAM hunting.

jdimmick

Morgans have been slow and may get even slower with the possible exception of some of the more specialized examples/ dates that are tough such as some of the DMPL's, tougher GSA, non CC GS's and non frequently encountered fresh examples??

sweetwilliet

I have noticed a decline in the more common morgans as of late. The pl and dpls, however, especially the less common ones, seem to be as hot as ever.

Coxe

Morgans rose nicely in this market. Any coins participating in that rise, and other series did too of course, cannot help but draw out as much material as is possible. So we did have true rarities emerge in the early/mid phase. Unlike many other classic series though, the Morgan supply is enormous. It far outstrips demand at least in the inflated market. That means the common stuff that bled out into the market has no place to go. The rarities, by far and large, found good homes in strong hands. The rest is just drifting. This is why people are noting the obvious that Morgan buyers are still there but are increasingly selective. Why? Because they can be. Should major rarities or fresh uncommon collections arrive on the market, it would become very clear that the series suffers from no lack of interest or overall valuation decline. There are still a lot of eager buyers, but they are more selective and patient. Very few have hit the exits and I would guess more are arriving with the perception that they are cheaper.

DUIGUY

<< <i>I have noticed a decline in the more common morgans as of late. The pl and dpls, however, especially the less common ones, seem to be as hot as ever. >>



And those in GSA holders as well.

sonoranmonsoon

<< <i>Morgans rose nicely in this market. Any coins participating in that rise, and other series did too of course, cannot help but draw out as much material as is possible. So we did have true rarities emerge in the early/mid phase. Unlike many other classic series though, the Morgan supply is enormous. It far outstrips demand at least in the inflated market. That means the common stuff that bled out into the market has no place to go. The rarities, by far and large, found good homes in strong hands. The rest is just drifting. This is why people are noting the obvious that Morgan buyers are still there but are increasingly selective. Why? Because they can be. Should major rarities or fresh uncommon collections arrive on the market, it would become very clear that the series suffers from no lack of interest or overall valuation decline. There are still a lot of eager buyers, but they are more selective and patient. Very few have hit the exits and I would guess more are arriving with the perception that they are cheaper. >>



I agree with this opinion completely. The supply of Morgans far exceeds the demand at the inflated prices. Many of the new issues that are selling like hot cakes from the mint, will probably go through the same correction. The early and seated dollars seem to be holding their values much better, due to the fact that there is a much more limited supply of them.

bestday

<< <i>

<< <i>Morgans rose nicely in this market. Any coins participating in that rise, and other series did too of course, cannot help but draw out as much material as is possible. So we did have true rarities emerge in the early/mid phase. Unlike many other classic series though, the Morgan supply is enormous. It far outstrips demand at least in the inflated market. That means the common stuff that bled out into the market has no place to go. The rarities, by far and large, found good homes in strong hands. The rest is just drifting. This is why people are noting the obvious that Morgan buyers are still there but are increasingly selective. Why? Because they can be. Should major rarities or fresh uncommon collections arrive on the market, it would become very clear that the series suffers from no lack of interest or overall valuation decline. There are still a lot of eager buyers, but they are more selective and patient. Very few have hit the exits and I would guess more are arriving with the perception that they are cheaper. >>



I agree with this opinion completely. The supply of Morgans far exceeds the demand at the inflated prices. Many of the new issues that are selling like hot cakes from the mint, will probably go through the same correction. The early and seated dollars seem to be holding their values much better, due to the fact that there is a much more limited supply of them. >>





This explains why some of the same date Morgans are 10 - 15 deep in the Heritage auction offerings ..thanks

anablep

At my local coin show, the same Morgans appear in the display cases, sometimes for months. And yet the dealers refuse to lower some of their prices.

I've had my eye on a 1901 AU55 in an older ANACS holder for about 5 months but the dealer keeps the price (artificially high) at $675, even after I offered about $600 for it.

BAJJERFAN

<< <i>I've had my eye on a 1901 AU55 in an older ANACS holder for about 5 months but the dealer keeps the price (artificially high) at $675, even after I offered about $600 for it. >>



Thats $600 that he could have working for him in a better way. If he had to pay finance charges on what he has in the coin he would change his tune real fast. In the opposite extreme it seems like the place where I work gets more bent out of shape with having one gram too much of something than they do about being one gram short with orders waiting.

COINB0Y

DUIGUY

I liked your piggy Icon, better.

PocketEasyTreasures

The market has up and downs, and it always seem a bull market will decline, but a few years later return. It all depends on the silver spot, popularity, and what the media says about the Morgans. Presently, I think the modern coins are taking most of the interest away from Morgans.

BAJJERFAN

They may have topped out, but for as common as they are purported to be they aint that cheap.