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Post by Larry Madsen on Feb 13, 2024 11:34:18 GMT -5
My Brother (Ray) has a bunch of coins in his possession he wants to cash in. They came to him via his now decease wife's father many years ago. Ray has no affinity for coins and is ready to let go of the bunch. Queenie had a collection of silver coins years ago. At the time of her divorce back in the 1990s the collection somehow came up missing. Queenie has an interest in "recovering" her old collection to some degree by purchasing some of Ray's coins. Only a few examples are in really good/great condition, so I imagine the majority are just common "bullion grade" or slightly better in value. I am going to a local coin shop today to see what info I can glean there. One of the "better" examples of an old Morgan. Looks better to the eye than it does in the close up PIC. it was taped into a holder, hence the clean vs discolored areas.  Morgan by Larry Madsen, on Flickr Anyone with recommendations about how a complete novice might start assessing the situation here is welcome to chime in. |
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Tequila Rob
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Formerly Known As: Guitar Fool
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Post by Tequila Rob on Feb 17, 2024 20:56:33 GMT -5
Hey Larry....not a coin "expert" but certainly an aficionado..lol...I've got a bunch of the Morgan's as well as a bunch of other stuff...one of the most beautiful coins ever minted......spin it on a table and listen to it ring...it's beautiful!...yours is in what I would call extra fine condition...circulated but very little wear....when you start getting into the Almost Uncirculated or Brilliant Uncirculated specimens that you get into more value.....
Unless your coin is in almost pristine condition or a low mint coin does the value increase....and most coin shops will only give you what an oz of silver goes for based on the market....people sell this stuff on ebay all of the time...
if you can resist the urge, hang on to them......and dont clean them....I know its tempting!
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Post by Larry Madsen on Feb 17, 2024 21:18:46 GMT -5
I took what I have to 2 coin shops.
One quoted a value of $483.00 and the other $692.00. Fairly large disparity there.
There are 19 Morgan’s, some half dollars and quarters. Then some other assorted sets.
Queenie (we) offered Ray $800.00 for what I have here. Ray has a bit more.
I think he had hopes of them being worth more, but it looks like his father-in-law knew what he had and anything of greater collectible value (if he had any) he dealt with before the remainder was passed on down.
Ray accepted the offer of $800.00.
It helps Queenie finally feel whole again after the loss of her coins 30 years ago. That result also sits well with Ray.
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argo
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Post by argo on Feb 17, 2024 21:29:20 GMT -5
I have one of those silver dollars with the same date, My grandmother gave one to me and my sister when I was 10 years old. Its remarkable to me that I still have it 62 years later.
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Post by Larry Madsen on Feb 17, 2024 21:42:46 GMT -5
I have a couple of consecutive numbered $2 bills I went to the bank and acquired the day they were put in circulation. I think that was about 1976. I still have those.
I think the Morgan’s are 3/4 oz and are 90% silver and 10% copper.
The second coin shop (higher quote) valued these coins (dollars, halves, quarters, dimes) at $14.00 per dollar of face value.
We have steel pennys, shell pennys and a few other unusual coins which are unique, but not of great value.
I have learned the Morgan’s from Carson City mint are generally going to be higher value, assuming good condition.
I could add, the books of half dollars, quarters , dimes and cents were assigned a greater value simply because they are mounted in the books. Granted they are also collections of specific coins (date & mint), but I was surprised a bit when the dealer told me the book was a significant consideration in the value.
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Tequila Rob
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Post by Tequila Rob on Feb 17, 2024 21:49:30 GMT -5
Well shoot Larry that's pretty good!...when you think about the actual dollar value of the coin, compared to its numismatic value..
it amazes me though that the price of silver per oz, is still soo much less than gold...Silver was 60 bucks an oz in 1980...now?...23
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Post by Larry Madsen on Feb 17, 2024 21:56:20 GMT -5
Yes, that disparity between gold and silver seems odd.
I bought Morgan’s back then and after the price climbed I sold them and purchased a Nikon FM and some really nice lenses.
Weird gold is at all time high pricing and silver at about 1/3 of all time.
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Tequila Rob
Wholenote
Posts: 683
Formerly Known As: Guitar Fool
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Post by Tequila Rob on Feb 17, 2024 21:57:45 GMT -5
A few years ago, I was in my bank cashing a check...and the teller happened to have 3 rolls of halves visible next to her...on a whim, I went ahead and gave her 30 bucks for them...10 bucks a roll face value...went out to my truck and opened them up and they were all 1964-69 Kennedy halves...the 64's being 90% silver the rest being 40%...I freaked!...so I went back in and asked if she had any more and she went in the back and came out with 5 more rolls.....
same thing...it was a major score!
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Post by Larry Madsen on Feb 17, 2024 22:09:06 GMT -5
👍🏻 😀
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