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New Member and new to PM Collecting

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#1
Hello, I am new to GIM and preciouse metal collecting and stacking. I recently inherited a couple hundred Morgan dollars and 50 Peace dollars amongst other junk silver coins as I have learned they are called! This sight is amazing and very helpful. Still trying to set some goals and parameters for my PM collecting....I was able to make 2 sets of Morgan Dollars (set=all years but not all proof marks) for my Daughter and I. I am hoping to convert (sell) some of the duplicate Morgans so I can buy JM 10 oz bars. Happy to have found GIM!
MW
 

smooth

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#4
If it were me I would hang on to those Morgans. They command a pretty good premium right now. If you do let them go, I would look for a private trade.
 

Chester-Copperpot

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#5
If it were me I would hang on to those Morgans. They command a pretty good premium right now. If you do let them go, I would look for a private trade.
Agree with Smooth. I'd take the Morgans, and Peace dollars all day long over 10 oz bars. They can make 10 oz bars all day everyday, silver dollars are extinct.
 

smooth

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#6
Agree with Smooth. I'd take the Morgans, and Peace dollars all day long over 10 oz bars. They can make 10 oz bars all day everyday, silver dollars are extinct.
Exactly............


Oh, and welcome aboard
 

birddog

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#8
Welcome!

I think most folks here would say keep what you got. I would LOVE to inherit a bunch of old morgan and peace dollars. Just buy more PMs when you get too much of that crap FIAT paper laying around.
 
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#9
Thank you for the advice, thats exactly what I plan to do after a trip to my LCS today. As I am new to PM collecting this is not a shop I have a track record with so I bought a 10oz JM bar at a reasonable price in hopes that I could trade some Morgans for more bars.....I was offered $19.50 per for 8 1921 Morgans and $21.50 per for 11 1887 and 4 1898 Morgans. Didn't seem like a square deal so I declined and vowed to be back to buy more silver JM bars, which I will do. I understand how trades work and just wanted to test the waters....makes sense to keep the dollars and buy silver bars as i can afford them! Thanks again for the advice.
 

samwiii

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#10
Good call! Keep those Morgans and Peace Dollars and stack the bars as you can afford them.

I know you've been informed and looked for the Carson City mint marks, but you also want to watch out for some other key dates. You can Google around to see different variations, mints marks, dates, etc... (such as http://www.us-coin-values-advisor.com/Morgan-Dollar-Price-Guide.html or http://ezinearticles.com/?Morgan-Silver-Dollars---What-Are-the-Key-Dates?&id=5354686). There are some very valuable ones that aren't CC and you don't want to be uninformed.

Happy stacking and welcome!
 

smooth

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#12
Morgan and Peace dollars are locked away in the safe, thanks again for the solid advice! Looking forward to the world of PM stacking.
You are making the right choice here Mate. Even if the price of silver declines further, there will still be some demand for those Morgans. As Chester so well explained they are extinct in a manner of speaking. Dont forget to buy a little gold as well friend. Seeing how you already have a silver position, you might want to look at some foreign small gold coins. Trust me, you will enjoy the feel of real money in your palm.
 

TAEZZAR

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#15
Welcome to GIM.
Count your blessings & hold that stash tight.
In my opinion, trading your Morgans for anything is going to cost you. :s9: