Morgans 1 1

[Tmoney11]

I started looking at my grandparents collection (overwhelming) of paper dollars and all types of currency. So starting with the easiest to get advice on is the following (see pictures). I was to overwhelmed to look through thousands of Kennedy half dollars, and many more coins. Any advice appreciated. 

[Tmoney11]

Having a heck of a time trying to load photos so trying to give some but keeps erroring.

[Tmoney11]

[Tmoney11]

[Tmoney11]

[Tmoney11]

[Tmoney11]

[GoldFinger1969]

First, get a total for each coin type of HOW MANY you have. 

Second, take out the best-looking (highest grade likely) coins and see what they are worth compared to a worn, circulated coin.  If a substantial premium, then do this for other coins also at a big premium.  If you don't have any worth a big premium, then the coins are at most worth face or melt value. 

Third, check the dates and coin types to make sure that even if worn or circulated you don't have a super-rare coin by chance (unlikely but you never know). 

Fourth, read Sandon's and others posts on other Newbie threads about what to do in terms of the basics:  get the Guide Book to U.S. Coins, maybe a specialty book on Morgans or Peace Dollars if you think it's warranted, etc. 

You want to see how many of your coins are in Mint State and/or AU condition.  

[Coinbuf]

@Tmoney11 All of the dollars in your photos, (you have a combination of Morgan and Peace dollars) are very common coins in varying levels of circulation.   While these coins have a sentimental value to you there is no real numismatic value for common coins in this condition.   Each is worth around $30 to $35 dollars which is the value of the silver used to produce them, this varies with the spot price of silver.

[Henri Charriere]

On 7/18/2024 at 3:18 PM, GoldFinger1969 said:

.... If you don't have any worth a big premium, then the coins are at most worth face or melt value. 

🐓  :  Hey, Quintus!  T-Money's back!

Q.A.:  Better speak for me.  This is the Newby's Forum.

🐓  :  No problem. First, a few  corrections:  circulated on not, every "silver" dollar pictured is worth exponentially more than face value and contrary to what one respondent wrote, to suggest the USG spent $30 to $35 "to produce them" is patently false and misleading.  Anyone could pick these up for face value from any bank that had them for ONE DOLLAR back as late as the early 1960's.  The array of mug shots is not necessary.  Get yourself a Red Book and familiarize yourself with mintages, grades and "key" dates -- those coins that are worth much more than the others.

If you show up anywhere with all of them in tow, the dealer will treat you like a pawnshop owner. He will give you a single low-ball price for the entire lot.  Spot Silver is around $30/oz (or thereabouts) but bear in mind the ones you have hold less than an ounce of silver.  If you want to hold out for more, that's your prerogative.  

Other than the 1964, Kennedy halves may have as much as 40% silver.  Do your due diligence.  Don't let anyone buffalo you around and tempt you to "just get rid of them."

The currency can wait.  After all, what's the rush?  Cross that bridge when you come to it. I may be a bird-brained glorified chicken, but I won't steer you wrong. Crack open that Red Book and do your due diligence.  After you've separated the wheat from the chaff, feel free to show us what turned up and the members here will fine-tune your assessments. I can't wait to tell Q the good news!

[The Neophyte Numismatist]

If I had a lot of silver dollars from my grandparents, I would buy a generic silver dollar Dansco Album without the dates under the holes.  This would allow me to enjoy my grandparents' collection in an organized way without feeling obligated to complete the set.

Like @Coinbuf said, the coins you are showing are generally worth silver bullion spot.  However, that really doesn't matter at all.  My favorite coin in my collection is a  circulated 1922 Peace Dollar that my grandfather gave me when I was ~10.  It's worn and toned black.  The value is melt... but I would not trade it for a 1792 Disme (which is my dream coin).  Every time is see that beat-up Peace Dollar, I can remember the day my grandfather put it in my hand.

Enjoy those coins.  The fact that they are not million dollar coins is a blessing, because you can keep them as memories.  If they were 7-figure coins, you would need tremendous willpower (and deep pockets) to be comfortable keeping it. 

[powermad5000]

Please do not hold the coins flat in your hands. Only handle coins by their edges!

That said, I see a lot of common date Morgans and Peace dollars in your photos. Also I see many of them as well worn. Of your few closeups, I am providing some photos for you to compare to and why you are getting the responses that much of what is seen would be valued around melt. The Peace series has two key dates that have value in lower condition due to mintage numbers (1921 and 1928) as well as some semi key dates (1924 S, 1934 S, 1935 S). Morgans would need to be key dates or infrequently seen VAMs. Some Morgans are only valuable as a "condition rarity". Some O, S, and any CC's are ones to look for but the Morgan list is too long for me to type so it is easier to just look them up in the Red Book.

Here is one of each type that you would want your coins to strive for and actually the Peace is really not the best (I have many better) but it is good enough to give you something to go off of.

 

Edited July 20 by powermad5000