What would rather have: Peace & Morgan dollars or Eagles & Rounds?

[billjustbill]

Back several months, I bought 74 Morgan and Peace silver dollars for under $10 each. No real rare dates, but their good condition would be consider way up there.

So, I paid under $10 and about $700.00. Their "scrap" silver value today is about $14.90 each: $1,102.60. Sight-unseen, I've been offered $20 each from a coin dealer, so I've more than doubled my money in $1,480.00 cash dollars.

Would you keep the silver dollars or use the offer of $1,480.00 and buy Eagles, Buffaloes, and other 99.9 bullion rounds? If you were "horse trading" the collectible American coins, how many rolls of bullion rounds would you push for above his cash offer...?

Thanks for your insight,

Bill

 

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[Xraywolf]

No insight here, but in the late 1990's and into 2000's I bought a "green monster", which is a sealed mint box of 500 silver eagles, every year for a few years - Not even sure how many I have, haven't looked in a while, at least 3 maybe 5.
Anyhow, I'd say on average I paid around $8 each, maybe a bit less, silver was cheap then. I ebayed maybe 100 or so when spot price zoomed over $30 a few years back. So personally I'd rather have the silver $'s, though I have a nice stash of them too.
Investment wise, they obviously both hold their value, and rise & fall on the spot wave year after year. So really, it depends on your preference. Both have actual and intrinsic value, one is history in the hand, the other contemporary silver coin art ,,, Of course the eagles are 10% purer so more valuable by weight alone.

 

[jim4silver]

Easy call, sell the silver dollars and buy cheap bullion. Circulated silver dollars (unless rare year, etc) are the most overvalued silver you can buy here in the US. Yes the coins are neat but they are not worth what you pay for them at retail. Don't believe me, then try to resell them back to the store and see how huge the spread is. Since you got them cheap you will be making a gain in silver ounces, which is the whole point of this in my opinion.

Jim

 

[Xraywolf]

Fair points, but if you get anything "cheap" you'll turn a profit.
OP obviously lucked into a deal, seller could have walked into any coin shop anywhere and got $15-$18 each for common Morgans.
People desire antiques and will pay a premium for something old, coins are no exception - And the resale thing holds true for just about anything as well.

I do agree though that cheap generic bullion is the best value from a pure economic standpoint - You'll have more silver for less $$ vs any silver dollar or "name brand" bullion.
But people will always pay a premium for that as well, generic bullion has no intrinsic value and never will, it is just a lump of silver. So there are a number of things to factor into a topic like this.

 

[billjustbill]

Next option for the 74 Morgan and Peace silver dollars: trade all for one ounce bullion coin, Buffalo or Gold Eagle?

 

[TheCoinKid]

Jim is right in that Morgan and Peace dollar prices are very expensive in terms of silver value per ounce. The extra premium is mostly the result of collector value (even the common circulated coins). Don't know what values they would command when selling to a dealer, but they certainly go for a nice price selling on the retail side (Ebay, etc). If it were me, I would hold pat and count my lucky stars for getting them at such a great price. I personally can't get enough Morgan or Peace dollars.

If your goal is to hold for a SHTF or similar such event, then by all means convert to cheaper forms of silver. Such an event would likely take the collector premium to zero.

You still haven't told me what part of Texas you're in. For some reason, i'm thinking the hill country, which is where I was born.

TCK

 

[billjustbill]

Jim is right in that Morgan and Peace dollar prices are very expensive in terms of silver value per ounce. The extra premium is mostly the result of collector value (even the common circulated coins). Don't know what values they would command when selling to a dealer, but they certainly go for a nice price selling on the retail side (Ebay, etc). If it were me, I would hold pat and count my lucky stars for getting them at such a great price. I personally can't get enough Morgan or Peace dollars.

If your goal is to hold for a SHTF or similar such event, then by all means convert to cheaper forms of silver. Such an event would likely take the collector premium to zero.

You still haven't told me what part of Texas you're in. For some reason, i'm thinking the hill country, which is where I was born.

TCK

I'm in North Central Texas, around the Dallas/Ft. Worth Metroplex. Never lived in the Hill Country... ;>)

Bill

 

[TheCoinKid]

I'm in North Central Texas as well.

 

[Beachkid23]

I would sell it all. Then I would buy gold. That's just me though.

 

[fistfulladirt]

I would keep it all and buy gold.

 

[ARC]

Me... would sell em all at 20 across the board... and buy rounds.

 

[ARC]

PS... I would also do it now.
I would not wait due to my metal outlook through Nov-Dec.