opinions on 1893-S morgan

[$ilverHawk]

Why can't you anwser a simple question? Refer to my definition of rarity. I repeat if you have a coin of very low mintage and there is little to no demand is it rare? Why do you avoid replying? Do you actuatly believe that an extended diatribe willI change reality. I am Don Quioxte tilting at windmills. I quit. You won.

[World Colonial]

Sorry if my explanation are long but my answer is not going to change just because you ask the same question another way.

 

I understand your questions, I just disagree with your definition of rarity. And apparently, you are the only one who has that definition of reality because no one else does.. The purpose of your definition is to justify or rationalize your claim that the 1893-S Morgan Dollar is rare, by making up your own definition of reality, when it is not . The 1893-S Morgan is common under any widely used definition of scarcity. Its only under yours that it is not. And coins which have low survival rates are scarce or rare no matter what they cost.

 

There, is that simple enough for you?

[jgrinz]

Mr Hawk - I think you are not seeing the whole picture which WC has stated a few times already. In his collecting WORLD which IS the 'world' this coin is not by any means a rare coin per se as compared to others that WC collects and has more knowledge of.

I am seeing totally what WC is saying but Mr Hawks points seem to be going around in circle and ending up at the begining.

 

I could bring up points about condition rarity with the 01p but that would be way off topic as is this conversation to the OP

 

Who By the way has not said a word an is probably upset - I would be

To bring us back on track

 

"Please only comment on what is relevant to acquisition of a 1893-S morgan"

" Or is a 1894 a better choice "

 

 

 

 

 

[physics-fan3.14]

Personally, I would like the cachet and cool points that come with owning a recognized "rarity" or "key date" or "significantly more expensive coin" like the 93S - which you don't get with a 94. Keep in mind that I'm not a Morgan collector, and really don't know anything about them (and more importantly to the OP, I'm not trying to complete a set of them).

[$ilverHawk]

Hawk is out of this thread. My sincere apologies to the OP.

[Oldtrader3]

Actually I have owned both the '95-S and the '94-P during the period that I collected Morgan dollars and, in my personal opinion, I would rather own a nice MS62, '94-P than a low grade '95-S for the same money. Partly this choice is based on the under supply of 1894-P dollars and the over supply of 1895-S dollars in all grades.

 

If you are building a set, as I was, there is some compelling argument for purchasing a '95-S. If you are not a set collector, I would not buy one. The secret of owning key Morgan's is really quality and grade.

[RockMyAmadeus]

In terms of whether the 1893-S is common or not, is is all relative. If the number of surviving specimens is actually around 10,000, on an absolute basis I would classify it as common. That number and even far fewer provide ample opportunity for anyone who can afford it to find and buy one.

 

However, since the mintages for most US coins are much higher than other countries (including those I collect) since the population and economy was and is larger, by US coin standards, I would rate it moderately scarce in "average grade" and only scarce or "rare" in mint state.

 

As for whether it is under or over priced, I consider it absurdly overpriced in any grade given its availability and/or relative scarcity. But since this is the most popular series in the world for one which involves larger outlays, I know that it is expensive despite its availability.

 

Many Newfoundland coins are scarcer than this coin, in any grade, and sell for $100 or less in lower grades...

 

Something to think about....

[RockMyAmadeus]

Definition: Rarity in terms of collectibility includes mintage amount and availibily in terms of demand and that translates to cost to collect and in the real world that translates to rarity.

 

Question that has been avoided--if you have a coin with a very low mintage and very few desire to collect it, is it rare in terms of collectibility? Conversely if you have a coin with a higher mintage and it is in demand from a great many collectors but they cannot afford to buy it at market prices is it rare in terms of collectibility?

 

 

 

Carl

 

You're really not getting this...

 

If money is no object, a complete set of date/mint Morgans can be assembled in a couple of days. That is not rare, by any definition of the word. When every single date/mint shows up several times a year in several venues...it's not rare.

 

Contrast that with a complete set of, say, Capped Head $5, and you will wait years, regardless of how much money you have, to obtain it. How much would it take to get the owner of the single 1822 held privately to sell? $5M? $10M? $15M?

 

That is what everyone is trying to explain to you.

[rld15-migration]

It's Economics 101, Supply vs Demand.

 

A 93-S Morgan is not a rare coin in that they are always available for sale and it takes very little to find one in most grades, OK, an MS67 isn't common, but circ ones are all over the place.

 

However they cost a fortune because the number of people who collect Morgans is huge, it's just like the 1909-SVDB, there's TONS of those out there but they cost a fortune because everyone seems to collect Lincoln cents.

 

I have a beautiful XF40 1879 Seated Half, it's worth less than than an XF 09 S-VDB and MUCH less than an XF 93-S Morgan, but both of those coisn are MUCH easier to find.

[RockMyAmadeus]

I have a beautiful XF40 1879 Seated Half, it's worth less than than an XF 09 S-VDB and MUCH less than an XF 93-S Morgan, but both of those coisn are MUCH easier to find.

 

 

One of the "lean years" halves, when Philly was pumping out millions upon millions of dollars...and tiny handfuls of the other denoms. Silly Bland-Allison.

 

 

I would LOVE to assemble a nice VF-XF set of 1878S ( ) to 1890 halves.

 

For that matter, I've always wondered why $2.50, $3, and $5 golds with mintages as low as 1,000 (or lower!) barely command a premium over their more common brethren.

 

1881 $3 is a prime example. 500 total business strikes...500....and yet it commands barely 4-5 times the amount that the most common date (1854), with a mintage 250+ times greater.

 

It makes no sense.

 

[rld15-migration]

I have a beautiful XF40 1879 Seated Half, it's worth less than than an XF 09 S-VDB and MUCH less than an XF 93-S Morgan, but both of those coisn are MUCH easier to find.

 

 

One of the "lean years" halves, when Philly was pumping out millions upon millions of dollars...and tiny handfuls of the other denoms. Silly Bland-Allison.

 

 

I would LOVE to assemble a nice VF-XF set of 1878S ( ) to 1890 halves.

 

For that matter, I've always wondered why $2.50, $3, and $5 golds with mintages as low as 1,000 (or lower!) barely command a premium over their more common brethren.

 

1881 $3 is a prime example. 500 total business strikes...500....and yet it commands barely 4-5 times the amount that the most common date (1854), with a mintage 250+ times greater.

 

It makes no sense.

 

 

It's supply and demand, very few people colelct $3 gold by series, most people buy them as type coins. Also, watch the price guides on stuff like that, for thinly traded coins they can be very inaccurate.

 

For example, look at what Numismedia/Greysheet/Trends/PCGS says my 93-S VF30 Barber Half or my AU58 96-S Barber Half is worth.... now look what they bring at auction.

 

But it's still that whole suppy vs demand thing, look at Trimes, some of those late date business strikes are truly rare coins, yet look what they sell for.

[RockMyAmadeus]

 

It's supply and demand, very few people colelct $3 gold by series, most people buy them as type coins. Also, watch the price guides on stuff like that, for thinly traded coins they can be very inaccurate.

 

For example, look at what Numismedia/Greysheet/Trends/PCGS says my 93-S VF30 Barber Half or my AU58 96-S Barber Half is worth.... now look what they bring at auction.

 

But it's still that whole suppy vs demand thing, look at Trimes, some of those late date business strikes are truly rare coins, yet look what they sell for.

 

Oh, I know why it happens...it's just never made any sense.