The Phaserl


Infographic: Watch Out When Buying Morgan Dollar Silver Coins

from Gold Silver Worlds:

Casual investors looking for a recommendation on what type of silver to buy will often hear the same answer from a typical coin dealer, that being, “well Morgan Dollars, of course.” But sadly, accumulating these historic U.S. silver coins often ends up being a big mistake.

Morgan Silver Dollars were minted at the turn of the 20th century. They contain 90% silver while the rest is copper. They are considered to be semi-numismatic coins. The issue is that they do not fall in the category of “rare” coins. Just like the common early 1900s gold coins frequently peddled to unsuspecting buyers by numismatic dealers, the spread between the buy and the sell prices on Morgan Silver Dollars is also awful, thanks to outrageous markups.

A number of tricks and deceptions are used to sell Morgan Silver Dollars.

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1 comment to Infographic: Watch Out When Buying Morgan Dollar Silver Coins

  • Rob

    That is some good advice
    Many Morgans were even counterfeit known as Vams. Some collectors actually like them for differing reasons I suppose.I personally have seen many collector coins hold their value while the spot price and melt value tank as in the last four years. suggesting that it is a bit better diversification to own both.Also agreeing that you need to know what you are doing.Slabbed coins do not always mean a lot.People need to buy the coin not the holder.There are many coins available that are better in the raw than slabbed graded coins.In this age of the internet there is many ways of gathering information that can teach you fairly quickly what to look for and how to grade pretty close on your own.Also there are millions of people that have an interest in collecting coins so it is not that difficult to sell if you had to or wanted to.

    So just buying bullion only seems a bit undiversified.When buying bullion you usually have to pay a premium over spot, walk back in the door to sell and you lose 10% or more/less depending on if it is bars or rounds or say American silver eagles you get a couple cents more. Or maybe the futures spot price just dropped by fifty cents and you are now at a bigger loss Been there done that.
    Go to Wikipedia and get educated on the history of what you are interested in as a coin then go to Grading organizations (NGC PCGS )to see the reasons for price action and the whys and wherefores of the particular coin you are interested in As some people buy coins for their beauty and history. Yes buyer beware but bullion is not the only answer.Education helps in every matter.I buy and sell both and honestly had better luck in the coin market.
    Cheers and good luck to all

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