Are 1921 Morgan Dollars priced at $80 a good deal? 2 2

[Mr.Bill347]

Wondering about this one that I might buy.

Edited April 11 by Mr.Bill347

[J P M]

I Think that price is average for that coin. With the green label it may be worth a little more but not much.

Verify NGC Certification | NGC (ngccoin.com)

Edited April 11 by J P M

[Sandon]

   I think that you can buy a lot more "coin" for your $80 instead of this extremely common coin in a very common grade.  

[IndigoSynergy]

Sandon... I'm a newbie and curious what coins you would recommend looking for with $80 to spend?

[Sandon]

@IndigoSynergy--Just in perusing this month's Coin World Values, I see the following items, among others, listed at $80 or less:

Large cents 1850-57 in EF and some earlier dates in VF back to 1838

Various Indian cents 1891-1909 in lower uncirculated grades

1864-68 two cent pieces in EF at $50-$75 (AUs of the 1864-65 at $85)

1865-72 and 1874 copper nickel three cent pieces in AU at $68-$75, some of these dates having mintages well below a million pieces

 EF Seated Liberty half dimes of various dates from 1842-73 at $60-$80

 common date Shield nickels 1867-69, 82 at $75-$80

AU Liberty nickels 1900-1912 and the 1883 "No cents" in lower uncirculated grades

BU Buffalo nickels of various dates 1913-38, some later dates in as high as MS 65-66

Capped Bust dimes 1829-37 in Fine, many with mintages of a few hundred thousand and only a small percentage likely still in existence in all grades.

A number of dates of Liberty Seated and Barber dimes and quarters and Barber half dollars in better circulated grades and some scarcer dates in lower ones.

Various twentieth century type coins and semi-key coins in better circulated or uncirculated grades

    The 1921 Morgan dollar, one of the three most common of all silver dollars, has a certified population at NGC alone of 162,128, with 70,531 graded MS 63 and 54,980 graded MS 64.  Many uncertified pieces, including uncirculated ones, can routinely be found at any coin show or shop.  Millions of them likely exist. The coin is simply too common in these grades for one to spend $80 on when there are so many more interesting and scarcer coins available for the same price or less.

[RWB]

The coin is more MS-61 or 62. Definitely not MS-63 based on the photos and Liberty;s scruffy facial hair. As Sandon noted, you can spend $80 and a get a much nicer 1921 or a more interesting coin.

[powermad5000]

It is listed currently at $80 in the NGC price guide. I don't care if the label is green, brown, or purple. The coin is the coin.

I just did a search on eBay for a 1921 (P) Morgan on eBay in MS 63 and graded by NGC. Using price + shipping : lowest first, and using only Buy it Now listings, within less than one minute, I just located well over a dozen of these already graded by NGC in MS 63 for $50-60. Not all of them have the level of white this coin exhibits but some are very close to it, and many are nearly or are equivalent in eye appeal.

If you really want one of these for your collection, I just saved you $20-$30.

[VKurtB]

Wow! When did MS63 1921 Morgans go THIS high? Last I looked they were $25ish. 

[powermad5000]

On 4/12/2024 at 7:14 PM, VKurtB said:

Wow! When did MS63 1921 Morgans go THIS high? Last I looked they were $25ish.

There was a craze created by the pandemic and bored people on lockdown getting into coins. They started buying things up and paying more than price guide prices especially for Morgans. It is starting to come back down a bit, but I don't think we will ever see Morgans especially go back to pre-pandemic levels.

[J P M]

On 4/13/2024 at 2:11 AM, powermad5000 said:

There was a craze created by the pandemic and bored people on lockdown getting into coins. They started buying things up and paying more than price guide prices especially for Morgans. It is starting to come back down a bit, but I don't think we will ever see Morgans especially go back to pre-pandemic levels.

Not just Morgans, I think all the coins have gone to high, I go to the auctions all the time and people bid goofy on things. That drives the prices up, but the value is most of the time well below the hammer. 

[powermad5000]

On 4/13/2024 at 8:21 AM, J P M said:

Not just Morgans, I think all the coins have gone to high, I go to the auctions all the time and people bid goofy on things. That drives the prices up, but the value is most of the time well below the hammer.

I do agree. But as I have a diverse collection, on series that have lesser interest than Morgans such as some dimes and Franklin Halves for instance, when looking to fill slots with coins that are more populous in numbers and easier to obtain, I have found that I am still able to find and obtain some of these coins at undervalued prices.

[GoldFinger1969]

On 4/13/2024 at 2:11 AM, powermad5000 said:

There was a craze created by the pandemic and bored people on lockdown getting into coins. They started buying things up and paying more than price guide prices especially for Morgans. It is starting to come back down a bit, but I don't think we will ever see Morgans especially go back to pre-pandemic levels.

My understanding was that we saw lots of lower-priced "trophy collectibles" like some coins, currency, etc.....all get bid up but not to crazy levels like sports cards, NFTs, etc.  I thought they had held that pricing and maybe moved higher.

Do you have some hard numbers for certain Morgans round-tripping on price ?  

[GoldFinger1969]

On 4/13/2024 at 9:21 AM, J P M said:

Not just Morgans, I think all the coins have gone to high, I go to the auctions all the time and people bid goofy on things. That drives the prices up, but the value is most of the time well below the hammer. 

Numbers ? 

[powermad5000]

On 4/14/2024 at 12:25 AM, GoldFinger1969 said:

Do you have some hard numbers for certain Morgans round-tripping on price ?

The one in this thread. As a matter of fact, all of the 1921 Morgans. Pre pandemic a 1921 (P) used to go for around $25-30 for an MS 62-63. Currently that price has doubled. And get into higher grades and sometimes it goes exponentially up.

1881 S is another one. You used to be able to get an MS 65 for about $175-$200 pre pandemic. I have seen auctions for one of these go as high as $400 in MS 65.

It's across a lot of the series. And it is not just lowball Morgans. Even some of the higher dollar specimens have gone up by thousands at the gavel.

Here's another. Try this. Go to the NGC Price Guide for Morgans and find 1883 CC. Click on the MS 63 Price. There are two spikes in it happening after the pandemic began. You can click on many others and see the same trends.

[GoldFinger1969]

On 4/14/2024 at 2:28 AM, powermad5000 said:

The one in this thread. As a matter of fact, all of the 1921 Morgans. Pre pandemic a 1921 (P) used to go for around $25-30 for an MS 62-63. Currently that price has doubled. And get into higher grades and sometimes it goes exponentially up. 1881 S is another one. You used to be able to get an MS 65 for about $175-$200 pre pandemic. I have seen auctions for one of these go as high as $400 in MS 65.

How much of that rise is a result in the price of silver rising -- that sets the floor for some of these coins ?

I do agree with you on the low-hanging fruit being bid up, no doubt.  The people with stimulus checks in 2020 and 2021 were buying lower-priced stuff in lower grades that they could afford, i.e, large denomination bills in medium grade, silver coins as opposed to gold.

[Halbrook Family]

On 4/13/2024 at 3:09 PM, powermad5000 said:

I do agree. But as I have a diverse collection, on series that have lesser interest than Morgans such as some dimes and Franklin Halves for instance, when looking to fill slots with coins that are more populous in numbers and easier to obtain, I have found that I am still able to find and obtain some of these coins at undervalued prices.

Just wondering. What grade range do you like to keep your Franklin's in? 

[powermad5000]

On 4/14/2024 at 10:38 PM, Halbrook Family said:

Just wondering. What grade range do you like to keep your Franklin's in?

I am at about 83% of making the full set of MS 64 FBL splattered with some MS 65 FBL's. If I get back anything less than MS 64 FBL, I will upgrade it. Some day I will complete this set. Where I am at right now, I built the whole thing from raw coins, but the empty slots are getting really hard to fill in the grade I want so I might just have to bite the bullet and complete the rest of the set with ones already slabbed.

Edited April 15 by powermad5000

[GoldFinger1969]

On 4/14/2024 at 2:28 AM, powermad5000 said:

The one in this thread. As a matter of fact, all of the 1921 Morgans. Pre pandemic a 1921 (P) used to go for around $25-30 for an MS 62-63. Currently that price has doubled. And get into higher grades and sometimes it goes exponentially up.  1881 S is another one. You used to be able to get an MS 65 for about $175-$200 pre pandemic. I have seen auctions for one of these go as high as $400 in MS 65. It's across a lot of the series. And it is not just lowball Morgans. Even some of the higher dollar specimens have gone up by thousands at the gavel.  Here's another. Try this. Go to the NGC Price Guide for Morgans and find 1883 CC. Click on the MS 63 Price. There are two spikes in it happening after the pandemic began. You can click on many others and see the same trends.

So the spike UP has held ?  They didn't roundtrip in price ?  

I know for gold that the rising price of the metal since 2020 has provided support so I presume silver's rising price has done the same.

[powermad5000]

On 4/15/2024 at 8:19 AM, GoldFinger1969 said:

So the spike UP has held ?

Prices have come down a little bit but for the most part, yes.