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Morgan prices suggest collector interests are shifting

There may be more of a shift in the market for coins than is being recognized. While the more highly desirable Morgan silver dollars (date or condition rarities) continue to hold their value, there are few that have increased significantly in value recently. The market for all other Morgan silver dollars remains weak, with some price declines appearing regularly. Considering the Morgan dollar market has been the meat and potatoes of U.S. coin collecting for many years, this might suggest collector interests are shifting.

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Entry-level material, that being recently issued Mint and Proof sets as well as the collectible versions of gold and silver American Eagles, remain healthy. Some of these buyers will “graduate” to coins that are more in the realm of being collectible rather than representing intrinsic value exclusively. The question to be raised is if these collectors are not excited about Morgan silver dollars, what interests these newer collectors?

Coins worthy of being sold at auction are selling nicely at current levels. Some of these new collectors may be among the bidders. The sales record for “middle area” coins – coins that are collectible but not quite good enough to be offered at auction – can be dubbed spottier and less consistent. Since silver has been trading in a $15 to $16 range and impacts the value of many of these coins, their value remains volatile yet attractive.

The coin market is currently healthy, but trying to read it is challenging since many active collectors appear to be focused on specialized areas.

This article was originally printed in Numismatic News. >> Subscribe today.

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