Opportunity in Morgan, Peace Dollars

By Richard Giedroyc

All sectors of the coin market continue to thrive. Bullion and bullion-impacted coins continue to trade in a tight price range that mirrors the spot price of silver and gold. Overall, the spot price for bullion silver continues to underperform, however there are eager buyers for this metal at current levels.

Collectible yet generally available coins are holding their interest among collectors, with some upward motion seen on individual dates and denominations, especially in particularly attractive conditions. Scarce to rare coins continue to forge ahead, with continuing interest often focusing on those examples being offered at auctions. Even the often forgotten arena of commemorative coins is moving ahead of expectations.

If there is any area in the market that may signal opportunity due to a thinner interest it would be Morgan and Peace silver dollars as well as the mid-level, mid-range 19th century silver composition coins arena. The 19th century silver coinage of which I speak remains soft overall; however, when an example of a date is offered that hasn’t had any auction track record in years, the prices being asked are significantly higher than the price that has been trending since the last time such a coin was available. This, of course, doesn’t account for such a coin having been sold retail through someone whom isn’t tracked by pricing compellation.

Speculators and newly introduced investors who have entered the coin market recently are helping to push demand for what in many cases are challenging areas to supply, resulting in strong price appreciation.

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