Silver Dollars may be Taking the Oxygen out of Most Everything Else
Entry posted by coinsbygary ·
If you were to represent the pool of money available to buy coins as a pie, silver dollars are currently taking a much bigger piece of the pie.
No one can deny the sudden surge in value of high-grade common date silver dollars. Conversely, there is evidence showing that the inverse is true concerning copper and smaller silver coins thus proving that with every action, there is an equal and opposite reaction. In other words, for the savvy collector there are some good deals in the marketplace.
There are several numismatic alerts that I subscribe to via e-mail. One of those alerts that help to prove my theorem is a weekly NGC market report. This report is a small sampling of marketplace activity showing changes in coin values. Most weeks the samplings are of little relevance to my collecting interests. This week?s report is quite different and directly relates to my collection and my recent post on the high price of silver.
This week?s report highlights the top five and bottom five 20th Century performers. Three of the top five coins are common-date MS-64 Peace Dollars. The other two are also common-date Peace Dollars of lesser MS grades. Month over month 03/11 to 04/11 each of these coins had risen between 24% and 25% in value. Of particular interest to me is the value of an MS-64 1923 Peace Dollar from my collection, rising from $64.80 to $80.40 in Fair Market Value.
Of the bottom five coins, three were high-grade Lincoln Cents. One coin, in particular, a red 1924, MS-66 Lincoln cent fell 8.48%, from $2240.00 to $2050.00! Showing that smaller silver coins are not immune to the current market rage, the Fair Market Value of a 1942, MS-68 Walker fell 8.07%, from $6440.00 to $5920.00 and a full band 1941, MS-66 Mercury Dime fell 10%, from $75.00 to $67.50.
What does this mean to me? Well, with my MS-65 & MS-66 high-grade Morgan Dollar set complete, I?ll hold off on expanding my Morgan Dollar collection for now. Instead, I think I will focus on my 19th Century type set and other sets that meet my core collecting goals.
Other personal experiences relate to this post along with my attendance at the Central States Numismatic Society Convention in Chicago last week that I will elaborate on in my next post. But until then, happy collecting and to all mothers, a happy Mother?s Day!
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