Common date Morgan and Peace price

Mercfan

I thought I might be able to pick up some not-too-circulated common date Morgans and Peace dollars for a bit of a bargain since the major dip in silver spot price, but I'm not seeing a dip in the price of these coins. They seem to be holding at $30 apiece.

Am I missing something?

tahoe98

...sorta like gasoline at the pump when a a barrel of oil drops why doesn't the gasoline drop

Baley

It's the "bid" price that drops first... "ask" takes a lot longer to catch up. In other words, high volatility=high spreads

If you're talking about auctions rather than fixed price listings, same principles apply: others are still willing to pay closer to the old price than you're hoping.

RedHerring

I don't think you're missing anything. There's about $24 of silver in them at the moment and "not-too-circulated" pieces will have some numismatic premium. Finding decent ones under $30 is going to be tough to do.

Twinturbo

<< <i>I don't think you're missing anything. There's about $24 of silver in them at the moment and "not-too-circulated" pieces will have some numismatic premium. Finding decent ones under $30 is going to be tough to do. >>



Interesting I bought 30 UNC Morgans today for $28 a piece. I guess thats not too shabby

keyman64

<< <i>

<< <i>I don't think you're missing anything. There's about $24 of silver in them at the moment and "not-too-circulated" pieces will have some numismatic premium. Finding decent ones under $30 is going to be tough to do. >>



Interesting I bought 30 UNC Morgans today for $28 a piece. I guess thats not too shabby >>

I was at a show where someone was at a table with me and he bought 2 AU common dates for $28 each.

Twinturbo

<< <i>

<< <i>

<< <i>I don't think you're missing anything. There's about $24 of silver in them at the moment and "not-too-circulated" pieces will have some numismatic premium. Finding decent ones under $30 is going to be tough to do. >>



Interesting I bought 30 UNC Morgans today for $28 a piece. I guess thats not too shabby >>

I was at a show where someone was at a table with me and he bought 2 AU common dates for $28 each. >>



Cool, as long as I'm paying market price I'm very happy.
Most were common but 8 of them command nice premiums

breweryrat

Wholesale bid is about $27 right now for VG or better so $30 is about right for xf/au coins.

$28 for BU's is a nice price!

Mercfan

Thanks to all for your replies!

Twinturbo, please feel free to PM me with your source for UNC Morgans at $28. I'm ready to load up the wagon.

scotty1419

I've seen some locally for $25/ea. $30/ea at this time seems high.