Wayne Miller Morgan & Peace Dollar Interview
Stuart
Posts: 9,831 ✭✭✭✭✭
Although this is promotional, I thought that others who respect Wayne Miller may wish to read this recent interview with Wayne regarding recent market movement in Morgan & Peace Dollars.... Enjoy !!
SILVER DOWN, MORGAN DOLLARS UP? - David Bradshaw, Editor, RMP
Apr 16, 2004
It's been quite a week for the precious metals, a 5% correction
for gold (from $420 to $400) and a 12% correction for silver
($8.00 to $7.12). Most analysts agree the correction was yet
another vivid illustration of how a healthy bull market works.
FYI a new bull market in silver began in mid-2003, which has driven
the price of silver bullion from a low of $4.50 per ounce to a
high of over $8.00 per ounce -- a rise of 77%. But here's an
interesting fact you WON'T hear on CNN:
MORGANS MOVED UP 3.2% THIS WEEK -- DESPITE A 12% DECLINE IN SILVER!
Why?
Well, for the answer I turned to the most respected author and
collector of Morgan Silver Dollars, Wayne Miller of Helena, MT.
His classic book, "The Morgan and Peace Dollar Textbook" has
helped brings tens of thousands of readers to appreciate the
unique history, beauty and profitability of Morgan Dollars.
The interview below will be included in the brand new 16-page
Research Report going to print next week for Swiss America.
This Special Report examines investment-grade Morgan Silver
Dollars, their amazing history, growing popularity and
viability for portfolio diversification and long-term growth.
Read Part I of the SPECIAL REPORT at this link:
http://www.swissamerica.com/article.php?=SID&art=04-2004/200404130244f.txt
Here's the exclusive RMP interview with Wayne Miller ...
----------------------------------------------------------------
Apr 15, 2004
DAVID BRADSHAW: WAYNE, AS ONE OF THE FOREMOST EXPERTS
ON INVESTMENT-GRADE MORGAN SILVER DOLLARS, WHERE IS THE
MARKET RIGHT NOW?
WAYNE MILLER: Silver dollars are stronger now than ever.
The key dates are just on fire. Even the generic date dollars
are getting hard to find and are selling for 12-15 year highs.
I look for continued interest in Morgan and Peace dollars
because they are big and beautiful. They are the biggest
silver coin we've made and were well designed. There is a
really interesting mix of common date and key date interest,
so you can start with the common dates and there's still a lot
of challenge if you really want to go at it in a serious way.
When I started my Silver dollar collection, I gave myself 15
years to finish the set. I started in 1968, it was completed
in 1983 and I sold it in 1984. The new owner put the collection
an auction in Beverly Hills in January of 1986. The 1878-S
was purchased by Swiss America President Craig Smith
and I believe he still has it.
DB: YES HE DOES, AND HE PLANS TO KEEP IT...
WM: I remember it sold for $37,400 in the auction, which
at the time amazed me since and I paid just $14.00 for it
back in 1973.
DB: WOW!
WM: I remember there was 1895-O and an 1886-O that both
sold for $71,000 -- and 3 years ago the 1886-O was on the
market at $675,000 and the 1895-O was on the market at
$750,000. So, the rare date Morgans have really risen, even
though $70,000 seemed like a lot of money back in 1986,
now they are ten times that amount!
DB: YES, THAT IS FANTASTIC GROWTH, BUT WHAT ABOUT THE FUTURE
AND WHAT ABOUT INVESTORS OR COLLECTORS THAT DON'T HAVE THAT
KIND OF MONEY TO SINK INTO A SINGLE COIN?
WM: I look for Morgan dollars to continue to be strong. There
was an article in Coin World magazine about ten years ago that
featured a major survey among the collecting audience of which
coin series was their favorite among 150 different U.S. coin
series and 37 % of the people listed Morgan or Peace dollars
as their number one collectable choice. Morgan dollar are one of
the few Mint-Condition U.S. rare coins dated in the 1800's that
you can still buy today that is dated for under $100!
DB: I KNOW. SO, DO YOU SEE MORGANS AS A GREAT OPPORTUNITY FOR
THE LITTLE GUY, SO TO SPEAK?
WM: Yes, from the little guy to the top guy, Morgans are a good
investment for everybody!
DB: IN THE CYCLE OF RARE COIN PRICES, DO YOU THINK WE ARE IN THE
EARLY STAGES OF A BULL MARKET, IN THE MIDDLE, OR DOES IT DEPEND
ON THE COIN SERIES?
WM: I'm a student of economic and market cycles, so I've looked at
this market for many years and asked myself, "How can I make money
for my customers -- even in a declining coin market like we had during
much of the 1990s.
For 10 or 15 years the coin market was driven largely by investors.
Investors basically don't know anything about coins, they just saw a
financial trend that looks up and so they'll buy it. But during the 1990's
the trends just seemed to keep going down, so the investors gradually
got out of the market and prices drifted lower.
What is different now is that for the last couple of years the serious
coin collector has come back into the market. From my perspective
the collector is the one who really makes this market move, because
they're not buying coins because someone else told them to buy,
they're buying because they're looking at their collection and they
need to fill an empty slot to complete a collection, so they know
that they're going to have to pay a little extra to get a really nice coin.
This growth of collector interest is happening across the board -- from
pennies to $20 gold pieces -- and that also includes Morgan dollars.
For example, Carson City Morgans are up well over 100% over
the last couple of years. So, everything is looking pretty strong and
this new bull market has a good collector base, which is what you
want to have, given that many investors are fickle and fearful. It is
the more serious coin collectors that have an emotional involvement,
or connection with their collection because they've put a lot of
themselves into it.
Unlike investors, collectors are not as prone to sell their coins
out as soon as they see a short term price drop, instead they're just
going to sit tight and keep building their collection for the long term.
I think that the reemergence of the collector as the prime driving
market force in the coins is the healthiest thing I've seen in two decades.
DB: THANKS FOR SHARING YOUR THOUGHTS WAYNE, WE WILL PASS THEM ON
TO OUR READERS.
----------------------------------------------------------------
Read Part I of the SPECIAL REPORT at this link:
http://www.swissamerica.com/article.php?=SID&art=04-2004/200404130244f.txt
----------------------------------------------------------------
SILVER DOWN, MORGAN DOLLARS UP? - David Bradshaw, Editor, RMP
Apr 16, 2004
It's been quite a week for the precious metals, a 5% correction
for gold (from $420 to $400) and a 12% correction for silver
($8.00 to $7.12). Most analysts agree the correction was yet
another vivid illustration of how a healthy bull market works.
FYI a new bull market in silver began in mid-2003, which has driven
the price of silver bullion from a low of $4.50 per ounce to a
high of over $8.00 per ounce -- a rise of 77%. But here's an
interesting fact you WON'T hear on CNN:
MORGANS MOVED UP 3.2% THIS WEEK -- DESPITE A 12% DECLINE IN SILVER!
Why?
Well, for the answer I turned to the most respected author and
collector of Morgan Silver Dollars, Wayne Miller of Helena, MT.
His classic book, "The Morgan and Peace Dollar Textbook" has
helped brings tens of thousands of readers to appreciate the
unique history, beauty and profitability of Morgan Dollars.
The interview below will be included in the brand new 16-page
Research Report going to print next week for Swiss America.
This Special Report examines investment-grade Morgan Silver
Dollars, their amazing history, growing popularity and
viability for portfolio diversification and long-term growth.
Read Part I of the SPECIAL REPORT at this link:
http://www.swissamerica.com/article.php?=SID&art=04-2004/200404130244f.txt
Here's the exclusive RMP interview with Wayne Miller ...
----------------------------------------------------------------
Apr 15, 2004
DAVID BRADSHAW: WAYNE, AS ONE OF THE FOREMOST EXPERTS
ON INVESTMENT-GRADE MORGAN SILVER DOLLARS, WHERE IS THE
MARKET RIGHT NOW?
WAYNE MILLER: Silver dollars are stronger now than ever.
The key dates are just on fire. Even the generic date dollars
are getting hard to find and are selling for 12-15 year highs.
I look for continued interest in Morgan and Peace dollars
because they are big and beautiful. They are the biggest
silver coin we've made and were well designed. There is a
really interesting mix of common date and key date interest,
so you can start with the common dates and there's still a lot
of challenge if you really want to go at it in a serious way.
When I started my Silver dollar collection, I gave myself 15
years to finish the set. I started in 1968, it was completed
in 1983 and I sold it in 1984. The new owner put the collection
an auction in Beverly Hills in January of 1986. The 1878-S
was purchased by Swiss America President Craig Smith
and I believe he still has it.
DB: YES HE DOES, AND HE PLANS TO KEEP IT...
WM: I remember it sold for $37,400 in the auction, which
at the time amazed me since and I paid just $14.00 for it
back in 1973.
DB: WOW!
WM: I remember there was 1895-O and an 1886-O that both
sold for $71,000 -- and 3 years ago the 1886-O was on the
market at $675,000 and the 1895-O was on the market at
$750,000. So, the rare date Morgans have really risen, even
though $70,000 seemed like a lot of money back in 1986,
now they are ten times that amount!
DB: YES, THAT IS FANTASTIC GROWTH, BUT WHAT ABOUT THE FUTURE
AND WHAT ABOUT INVESTORS OR COLLECTORS THAT DON'T HAVE THAT
KIND OF MONEY TO SINK INTO A SINGLE COIN?
WM: I look for Morgan dollars to continue to be strong. There
was an article in Coin World magazine about ten years ago that
featured a major survey among the collecting audience of which
coin series was their favorite among 150 different U.S. coin
series and 37 % of the people listed Morgan or Peace dollars
as their number one collectable choice. Morgan dollar are one of
the few Mint-Condition U.S. rare coins dated in the 1800's that
you can still buy today that is dated for under $100!
DB: I KNOW. SO, DO YOU SEE MORGANS AS A GREAT OPPORTUNITY FOR
THE LITTLE GUY, SO TO SPEAK?
WM: Yes, from the little guy to the top guy, Morgans are a good
investment for everybody!
DB: IN THE CYCLE OF RARE COIN PRICES, DO YOU THINK WE ARE IN THE
EARLY STAGES OF A BULL MARKET, IN THE MIDDLE, OR DOES IT DEPEND
ON THE COIN SERIES?
WM: I'm a student of economic and market cycles, so I've looked at
this market for many years and asked myself, "How can I make money
for my customers -- even in a declining coin market like we had during
much of the 1990s.
For 10 or 15 years the coin market was driven largely by investors.
Investors basically don't know anything about coins, they just saw a
financial trend that looks up and so they'll buy it. But during the 1990's
the trends just seemed to keep going down, so the investors gradually
got out of the market and prices drifted lower.
What is different now is that for the last couple of years the serious
coin collector has come back into the market. From my perspective
the collector is the one who really makes this market move, because
they're not buying coins because someone else told them to buy,
they're buying because they're looking at their collection and they
need to fill an empty slot to complete a collection, so they know
that they're going to have to pay a little extra to get a really nice coin.
This growth of collector interest is happening across the board -- from
pennies to $20 gold pieces -- and that also includes Morgan dollars.
For example, Carson City Morgans are up well over 100% over
the last couple of years. So, everything is looking pretty strong and
this new bull market has a good collector base, which is what you
want to have, given that many investors are fickle and fearful. It is
the more serious coin collectors that have an emotional involvement,
or connection with their collection because they've put a lot of
themselves into it.
Unlike investors, collectors are not as prone to sell their coins
out as soon as they see a short term price drop, instead they're just
going to sit tight and keep building their collection for the long term.
I think that the reemergence of the collector as the prime driving
market force in the coins is the healthiest thing I've seen in two decades.
DB: THANKS FOR SHARING YOUR THOUGHTS WAYNE, WE WILL PASS THEM ON
TO OUR READERS.
----------------------------------------------------------------
Read Part I of the SPECIAL REPORT at this link:
http://www.swissamerica.com/article.php?=SID&art=04-2004/200404130244f.txt
----------------------------------------------------------------
Stuart
Collect 18th & 19th Century US Type Coins, Silver Dollars, $20 Gold Double Eagles and World Crowns & Talers with High Eye Appeal
"Luck is what happens when Preparation meets Opportunity"
0
Comments
Free Trial
TP
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
I highly respect Miller had his publications.
Morgan Dollar Aficionado & Vammer
Current Set: Morgan Hit List 40 VAM Set