Anyone on HROT buy Morgan silver dollars?

[lucas80]

I have two that I inherited that are sitting in a safety deposit box at Hills Bank. I've never given them much thought. They came as a box set to my mom. One is a 1921, the other one I can't remember the year. Two nights ago I was watching the Cubs game on KCRG 9.2 and they had one of those late at night commercials trying to sell Morgan's. I don't remember the name of the company, but they were selling them at $29.99 plus s/h. I'm no genius with rare metals, but I recognized that they were pumping up the potential value of the coin if silver soars back up to the $50 an ounce range. One of the problems with this is a Morgan doesn't have a full ounce of silver in it and silver is currently trading right around $16 an ounce. So to buy these coins you get less than $15 in silver for $30 plus probably $5 in s/h. Supposedly they are uncirculated coins.
The other big issue I have as I do a little quick research is it seems that as far as coin collecting value there seems to be a question as to how many Morgan's are out there. It seems as if stocks that were to be melted down were not, and in the late 1960's they entered the public market at auction. From there they dribble out into the market. Just for fun I looked at a few sites, and the JM Bullion site was interesting.
If you collect Morgan's, do you do it for fun, for a silver investment, or both? Do you buy silver rounds for your actual silver investing since the coins themselves aren't pure silver?

 

[ANYCHawk]

 

[OC_Hawk]

I'm confused. Is your assumption that the price things go for in an infomercial equates to the fair market value?

Out of curiosity, what does rent run on the safety deposit box that houses this investment?

 

[I4cy]

I have two that I inherited that are sitting in a safety deposit box at Hills Bank. I've never given them much thought. They came as a box set to my mom. One is a 1921, the other one I can't remember the year. Two nights ago I was watching the Cubs game on KCRG 9.2 and they had one of those late at night commercials trying to sell Morgan's. I don't remember the name of the company, but they were selling them at $29.99 plus s/h. I'm no genius with rare metals, but I recognized that they were pumping up the potential value of the coin if silver soars back up to the $50 an ounce range. One of the problems with this is a Morgan doesn't have a full ounce of silver in it and silver is currently trading right around $16 an ounce. So to buy these coins you get less than $15 in silver for $30 plus probably $5 in s/h. Supposedly they are uncirculated coins.
The other big issue I have as I do a little quick research is it seems that as far as coin collecting value there seems to be a question as to how many Morgan's are out there. It seems as if stocks that were to be melted down were not, and in the late 1960's they entered the public market at auction. From there they dribble out into the market. Just for fun I looked at a few sites, and the JM Bullion site was interesting.
If you collect Morgan's, do you do it for fun, for a silver investment, or both? Do you buy silver rounds for your actual silver investing since the coins themselves aren't pure silver?

http://www.pcgs.com/prices/

 

[lucas80]

I'm confused. Is your assumption that the price things go for in an infomercial equates to the fair market value?

Out of curiosity, what does rent run on the safety deposit box that houses this investment?

No. I thought I fairly summed that up by noting you aren't even getting an ounce of silver.
Just to satisfy your curiosity the safety deposit box isn't for silver dollars alone. It's a place for wills, deeds, car titles and other documents for the most part. I have some gold coins that I've inherited in there that I don't want laying around the house, so I threw in a few other coins including the Morgan's.

 

[dandh]

I have two that I inherited that are sitting in a safety deposit box at Hills Bank. I've never given them much thought. They came as a box set to my mom. One is a 1921, the other one I can't remember the year. Two nights ago I was watching the Cubs game on KCRG 9.2 and they had one of those late at night commercials trying to sell Morgan's. I don't remember the name of the company, but they were selling them at $29.99 plus s/h. I'm no genius with rare metals, but I recognized that they were pumping up the potential value of the coin if silver soars back up to the $50 an ounce range. One of the problems with this is a Morgan doesn't have a full ounce of silver in it and silver is currently trading right around $16 an ounce. So to buy these coins you get less than $15 in silver for $30 plus probably $5 in s/h. Supposedly they are uncirculated coins.
The other big issue I have as I do a little quick research is it seems that as far as coin collecting value there seems to be a question as to how many Morgan's are out there. It seems as if stocks that were to be melted down were not, and in the late 1960's they entered the public market at auction. From there they dribble out into the market. Just for fun I looked at a few sites, and the JM Bullion site was interesting.
If you collect Morgan's, do you do it for fun, for a silver investment, or both? Do you buy silver rounds for your actual silver investing since the coins themselves aren't pure silver?

I buy them for resale in our antique store. The 1921 is very common. When you look at the date on the other one, also look for the mint mark on the back side at the below the bottom of the the wreath. No mint mark is a P (Philadelphia). For most years, the most desirable mint mark is a CC (carson city). Condition of the coin also has a large effect on numismatic value.

 

[HawkVic]

The Carson City ones are the best because they were used in the Old West.

 

[dandh]

The Carson City ones are the best because they were used in the Old West.

There a lot fewer of them.