Are Morgan Dollars "Modern" Coins?

solid

What is the definition of a modern coin? One that was minted in the last 5, or 20, or 50 years?

Or perhaps modern coins are those that are currently being minted, like Lincoln cents (since 1909 or 1959?), Jefferson nickels, Roosevelt dimes (since 1946 or 1965?), etc.

Many times the argument is made that a person is throwing away their money paying high prices for condition-rarity modern coins because so many more can/will be made (found & graded).

If this potential availability is the defintion of a "modern" coin, couldn't Morgan Dollars be called modern coins? Millions were stored for decades in bank vaults only to be released in the 1960's and later. Certainly most of these have been searched, but there has to be thousands, maybe tens of thousands of raw gems still out there spread among the population.

Or, how about St. Gaudens $20 Gold pieces and other gold coins? The larger denominations in particular were routinely held in BU rolls as bank reserves. How many thousands of rolls were sent to Europe when the private ownership of gold was outlawed? These are still flowing back to the U.S. now.

Obviously, some coins should be called modern. But what is your definition and/or where do you draw the line?

Ken

supercoin

Or perhaps modern coins are those that are currently being minted

Since I collect Ikes, SBAs and Sacagaweas, I like that one -- I'm already 2 out of 3 into the "classic" arena (and 3 out of 3 is not far behind, I'm afraid).

There are so many definitions of "modern" depending on context or viewpoint that the term is often almost useless without a disclaimer. Personally I mean 1965+ when talking about moderns. Unless of course I'm talking about Lincolns, then it's 1959. Or Jeffersons, which, well I don't know.

But your other point is more interesting -- there are definitely strong similarities between common-date Morgans and some "modern" issues like clad Ikes.

They are all common as dirt in typical condition, it's not until you get into higher grades that they become tough. In fact there are common-date Morgans which are far easier to find in gem+ grades than many clad Ikes, and far cheaper too.

Which is why Morgans make great telemarketing fodder -- the average layperson can't believe a 120 year old coin in stunning condition (1881-S MS65), made out of GENUINE SILVER, can be theirs for only $500!

shirohniichan

Many people make the distinction based on method of production, and "modern" coins are those struck on steam powered presses and anything other than screw presses. By this definition Morgans are well into the modern category. I tend to see moderns as anything from 1901 on.

braddick

My cutoff for Moderns is 1932. Morgans are not Moderns in my opinion.

DeepCoin

I am with Braddick on this one. I would say that Walkers and Mercurys started before 1932, so they are not moderns to me. Lincolns are an interesting situation due to their long run, so I will say that wheaties should be classified with the Walkers and the Memorials are modern IMHO.

I also hope this post demonstrates the boards are working properly again!

Flash

My modern coin definition includes coins minted after 1964 when clad coinage began being minted.

tjkillian

Flash is almost right: A modern is a coin that was struck after silver was discontinued and including those types that were struck in silver, i.e. Washington quarters were struck in post-1964 so all Washington quarters are modern. Franklin half dollars were only struck in silver, so they would be classic. Lincoln Memorial were struck post-1964 so they also are modern even though they were never struck in Silver. All the coin series has to be to be modern is have one example not struck in silver.

Tom

shirohniichan

Let me change my definition. Modern coins are common coins that sell on eBay in MS-67 and higher for many times what they sell for in MS-66 and below. So Morgans are definitely modern coins.

Strat

It seems like there's a tendency to equate common coins with modern coins. Yes, generally speaking, Morgan Dollars are common coins. But are they moderns? They were struck well before 1900, are not spent by the general public and are not classified as modern coins by any numismatist, grading service or coin organization I'm aware of. Except perhaps for those who have contributed here. Moderns are often defined as coins whose series include circulating coinage. Then of course, what of modern commemoratives? Modern is becoming a term that resists definition.

The PCGS Population Report makes the distinction by listing modern coins as those minted after 1964. Interesting points, Solid.

Perhaps Ikes are modern while Sacagaweas are post modern???

braddick

Strat- they also consider the "Modern Type Registry" as starting in 1959, so go figure.

You can even take it all a step further. A 1972/72 Memorial is a Modern. A 1912 Matte Proof Lincoln isn't.

supercoin

And they count 1970 or later as modern for submission purposes.

If PCGS already has three definitions of "modern", I rest my case.

clevegreg

An interesting thread. I'm certain the definition will change with time. My great-grandkids ( if I have any) may look upon the old State Quarter Proofs with as much awe as they do some of my Large Cents. It all depends upon your perpective I guess. For my own purposes, I consider 1964 to be the cutoff,,,in most cases

Greg

shirohniichan

How about this categorization:

1792-1836= classic
After 1836= demi-modern
1892-1916= modernesque
1916-1959= modernish
1959-present= modern

Or this:

1792-1836= ancient
1836-1892= medieval
1892-1947= renaissance
1947-1964= enlightenment
1964-2000= antique
2001-present= modern