How long will the hype last in the Peace dollar series?
erwindoc
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Lots of new Peace and Morgan dollar collectors out there thanks to the 100 year hype. Just how long will it take to cool off? I put my set on hold a few years ago due to collecting other sets and want to finish it in the future. I wish I had done it before the 2021 releases, but its too late for that.
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Could be awhile.
I think the cool off will start next year. However, if the market stays as active as it is then I think prices will still be higher than in the last few years.
The Peace Dollar series has a lot going for it---large silver coin, beautiful design, only 24 coins in the series, and no impossible or expensive dates. I'm surprised this series isn't more popular.
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
I’m not aware of a lot of new collectors for the Morgan and Peace dollar series. Interest in the issues from 1921, including moderns, isn’t the same thing. And if you’re speaking of higher prices, many, if not most market segments have experienced that.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Not sure how long the hype will last.
But the way inflation is right now, it may be quite awhile before prices retreat, if ever.
It is very popular, just less preferred than the Morgan and to my knowledge, always has been.
It's also very common, except under the very liberal US collecting definitions of scarcity.
I would surmise the hype/fever will abate in 12-30 months. Then, depending on PM prices, or the general state of the coin market, prices could recede - or not. Cheers, RickO
Very common means it's very affordable to coin collectors of average means which is most of us.
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
Yup! A lot of silver stackers out there!
Positive BST as a seller: Namvet69, Lordmarcovan, Bigjpst, Soldi, mustanggt, CoinHoader, moursund, SufinxHi, al410, JWP
Yes, you can collect a nice AU58 set for under $5k and if you wish to go MS 65 you can still stay under $100k.
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
only time will tell when the peace dollar market settles down
Aug 11th
My gut feel - Prices will fall across board on many US issues especially generics. The recent run up a promoted, temporary thing in my view. Not a bad idea time take profits.
However Peace Dollars are an affordable completable series for many and an interesting area for specialization for participants. Anything’s possible. Quality, better dates will always have demand.
IMO
Speculators are the drivers of the hype.
The hype will last as long as there are buyers willing to pay 3x-5x over melt.
The secondary market will tack on at least a 10% price increase over what they had to buy it at.
Eventually people will realize that and stop buying and will start looking for precious metals that are 2-3% over spot.
True **Modern **collectors are between a rock and a hard place.
They have to pay up or give up.
Wayne
Edited original reply to say Modern Collectors.
Kennedys are my quest...
True collectors have another option - patience and waiting to see if prices go back down.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I just got back into Morgans, when the prices were taking off. I bought an 1878 7/8 tail feathers, an 1888S and an 1878 CC all in 64 and I over paid for all three. I am working on other series, now, until prices subside. I’m hoping that prices cool off, in about a year or two, but inflation is probably playing a role, as well, so who knows?
Personally, I don’t think they’re going to go back down to where they were a year ago for quite a long time, if ever. I do think they will stabilize at a higher level.
Take the 1921 peace dollar in 64 for example: that was a $600 graysheet bid coin just about six months ago, now, it’s selling for over $2000 on some websites. Hard to believe that that price will sustain but who knows? I certainly think it’s worth more than $600, though.
I started this thread about a month ago and you might find it of interest:
https://forums.collectors.com/discussion/1060136/the-morgan-and-peace-dollar-market-seem-to-be-on-fire#latest
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
"True collectors" - God, I hate that term - aren't buying classic coins for their bullion content.
Yes, I understand that. But what's your definition of popular?
There are a lot of Peace dollar collectors. No realistic prospect of enough to absorb the supply of the most common dates but still many, as in presumably tens of thousands.
Maybe not, but there must be a lot of buying for financial reasons for both Peace and Morgan dollars (including non-collectors) given the TPG counts. I don't see any other explanation.
Some of the counts are in the hundreds of thousands with the 81-S over 500K. I see no possibility that most of these are owned by series collectors, for type sets, or even random buyers. Far too common.
Well, the 1921 Peace dollar is in a bit of a bubble. That will last another year or two maybe. The rest of the series, maybe not so much.... just a general elevation of prices like every other category. I wonder if the coins are worth more, or if the purchasing power of a dollar, in general, is just less?
This is another pump and dump, just like what happened with Lincoln cents in 2009. Prices shot up, especially for MPLs, and then they came down in the next 1-2 years.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
My op edited to say Modern collectors.
Thanks
Wayne
Kennedys are my quest...
I may be in the minority but to me at least it's much more popular than the Morgans.
The Peace Dollar hype?
Six months to a year.
With my usual impeccable timing, I sold off my Peace Dollar set late last year.
LIBERTY SEATED DIMES WITH MAJOR VARIETIES CIRCULATION STRIKES (1837-1891) digital album
Agree. It will last through the end of the centennial anniversary and a bit after.
Still better than my timing. I bought a bunch of nice 65 and 66 matte proof Lincolns in late 2007-early 2008, intending to sell them in 2009. The collector in me wouldn't let go of them. They are still in one of my safety deposit boxes, and I looked at them last week...for the first time in more than 10 years.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
Don't feel bad, I sold both of mine, an AU and a 63.
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain