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What is a morgan silver dollar worth?

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posted on Sep, 11 2006 @ 03:26 AM
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Originally posted by Hobbes
I'd say buyer beware.


NOT FOR SALE




[edit on 11-9-2006 by In nothing we trust]




posted on Sep, 11 2006 @ 03:50 AM
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Now, if one was so inclined to talk about conspiracies and such, the Morgan Dollar has an interesting tale...

Congress passed the Bland-Allison Act in 1878, which entailed purchasing tons of silver, minting way more coins than circulation needed, and purchasing them by the Department of the Treasury... to protect the interests of the western US, which was in the afterglow of the Comstock Lode (THE big silver find).

The coins were stuck away in a vault, and 'forgotten'.

The coins are minted by a fair number of mints, making for a fair variety within the line... meaning, they are valuable to collectors, who want one of every variety.

In 1918, the Pittman Act ordered over 270 million Morgan Dollars destroyed, to abate the silver shortage. The coins naturally become harder to collect.

In the late 1960s, the coins stashed away in the vault were 'discovered', and sold directly to collectors in lots.

The rarest Morgan Dollars, these days, are listed in price guides for hundreds of thousands of dollars.

Nice investment. Sounds... like a con game.



posted on Sep, 11 2006 @ 04:24 AM
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Originally posted by Hobbes
Sounds... like a con game.


I would just say they are fixing the market so that they always win.



posted on Sep, 11 2006 @ 04:41 AM
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Well, there is always risk with that sort of 'investment'.

If the coins weren't of significant value to collectors, then the costs associated with the gamble (purchase of the coins, many years of storage, paying people to forget about them) would have lost them money.

It wasn't really a sure thing.

The only evidence I can put forth against it being a conspiracy is that publically announcing the 'find' and selling the coins in bulk flooded the market, and essentially devalued them. Had they been sold on the sly, a few at a time, they'd have generated much, much more.

But still... they surely still made a ton of money off of the deal.



posted on Sep, 14 2006 @ 03:17 AM
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Originally posted by Hobbes
The only evidence I can put forth against it being a conspiracy is that publically announcing the 'find' and selling the coins in bulk flooded the market, and essentially devalued them. Had they been sold on the sly, a few at a time, they'd have generated much, much more.


Maybe by flooding the market, with morgans, they just wanted to cash out right then and there, because they felt that there would be no future market value for the coins.


[edit on 14-9-2006 by In nothing we trust]



posted on Sep, 14 2006 @ 01:15 PM
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