Morgan Dollar Price Drop?

[Abaco24-migration]

Has there been a trend since March 05 for Morgans to go down in value? A temp drop is good just for buying possibly, just wondering if anyone else has noticed?

 

What's the word for MS 63-66? in DM PL grades? I noticed they are not actual proofs but some don't show mintage totals?

 

Just started looking into Morgan's to get educated and these are a few Q's.

[numonebuyer]

Some dropping, but others rising.

[James_OldeTowne]

The market for Morgans is softening overall, I think. There are aberrations as usual, but the greysheet has shown a lot of minuses (compared to other series) recently, and I have had trouble trading these coins for full bid with other dealers.

 

James

[Abaco24-migration]

Worth the prices in DMPL or any variation, what are your opinions?

[BankNote1]

? ?

[michael]

overall the market is kind of soft but this is to be expected with regards to the medium/large huge run up of many items in the last few years

 

so a breather is actually good for themarket

 

some items have not moved much and others as per the above again have had great increases

 

some coins that are truly scarce collectible and with good to great eye appeal are still strong and some others are still growing and yet some others have yet to take off so to speak

 

only buy coins you specialize in that you can evaulate yourself that are great values and truly scarce with great eye appeal that you can reconize within your speciality

 

collect as a hobby for the long term with discretionary funds

 

and you will do fine

[Fletcher]

Not only are prices dropping, but supply appears to be as well. There truly are not as many quality NGC or PCGS certified Morgans for sale on ebay as there was even one month ago. I think that the dealers are starting to shelf their inventories until the soft market swings buck to the upside. However, there is still plenty of junk to buy if you want it :-)

[James_OldeTowne]

For most series, the "sweet spot" recently has been in MS-64 grades. I personally think that sweet spot for Morgans right now is MS-62 and MS-63. These grades have underperformed compared to the overheated grades of MS-65, MS-66. Also - again personal opinion - I would stay away from the artificially sustained premiums being charged for DMPL coins right now. The best bargains are the coins that are in undesignated holders, but have a PL or DMPL obverse, with little or no proof-like quality on the reverse. ANACS occasionally designates these as "DMPL Obv", but you can scoop up gorgeous coins with all the obverse appeal of a Proof for a bargain price by comparison to a two-sided DMPL. Finally, as much as I love toned coins, I think they are waaayy overpriced in the Morgan series right now. I'd look for coins with original patina, colorful or not, and you're most likely to find these in coins graded MS-63. Far too many "MS-64" and "MS-65" coins have been dipped in an effort to scrape up that last grading point. Original coins are really coming into their own right now.

 

Now, bear in mind that I'm not a big Morgan fan in general, but I've recently helped two customers with their silver dollar collecitons, and these are just my observations.

 

James

[SilverDollarMan]

Will the TPG's accept dipped coins? If so, what kind? Like acetone? thx

[Merc]

Take a look at the MS65 DMPL Morgans. Common dates were going for $350 only 2 years ago. Then at the beginning of the year, they were going for $600. That is too much of a gain in such a short time. Before I buy, I like to look at the historical price. When I think it is too much, I don't buy.

 

SilverDollarMan,

 

Yes the TPG will grade dipped coins. Most flashy white older silver has been dipped. The will grade it as long as it is not pollished, or overdipped. Acetone dipping removed only organic matter from a coin. It is usually safe for the coin (but dangerous for your health).

[SilverDollarMan]

Thanks Merc.

[James_OldeTowne]

I sold a lot of FOUR certified better-date Morgan dollars at the St. Louis show yesterday, and got "bid" minus $15 on the lot.

 

James

[cutsup]

When prices rise, the overhang is driven out. Just look at Heritage and you will find some Morgans have popped up in batches of 3, 4, 5 with recent cert #'s. Despite what some people believe, overhang is not endless. The other problem is the unreliability of pop numbers, especially in low pop coins. Thye are crosses that are not recorded, upgrades, crack-outs, etc. All of this really screws up the collector who cannot determine the true pop number.