Jan-Feb 1989 peak question
Kimchee
Posts: 301
When the coin market was at its all time high, how much were MS65 common-date Morgans selling for? I didn't re-start collecting until 1990. Thanks.
Sean
Sean
Sometimes I sits and thinks, and sometimes I just sits.
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New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
<< <i>About $500-$600 if I recall correctly. >>
That's what I remember that common date Morgans traded for.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
and was probably a retail price.
Don't lose sight of the fact that some of these would grade much
higher now days. The services didn't want to grade much higher
than MS-65 and the next step up was a couple grades anyway.
The other series that has still not recovered from those days is silver commems.
I recall selling A Delaware in 65 for about $1400. Even most of the keys are cheaper now than then, although not as bad as the Del example.
When the bottom dropped out you had to buy at 30% below sheet because that was 10% below the next weeks sheet and bid of the week after. It was ugly for a while.
That market was pushed by none other than Wall Street......coins didn't get a bailout!!!
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