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The Magic Cafe Forum Index » » Nothing up my sleeve... » » Morgan silver dollars (3 Likes) Printer Friendly Version

Dick Oslund
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Cleaning out an old case, I found two Morgan silver $ (1880) They are in good shape, Anyone able to give me an idea of their worth?
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Michael Rubinstein
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Hey Dick, magicians pretty much buy morgans at the cost of their melt value. If you think they are in great condition and have more worth, you probably need to have them evaluated by a coin dealer. Otherwise, expect to sell them for 15-25 bucka each.
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Dick Oslund
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Thanks Michael! They're not "mint", but not "junk" either. Knowing that they are worth at least $15. is good news. I've had them since the '40s when I was "learning" the coin roll.
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inigmntoya
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The site I use to check melt values also has general collector value on coins: http://www.coinflation.com/coins/1878-19......lue.html

1880 Morgans are showing in the low $20s range for collector value for worn coins, which is currently better than melt value but still nothing to get too excited about.
HOWEVER, if it's one that was minted in Carson City, Nevada.... those are worth $100+
The "mint mark" on Morgan dollars is on the lower part of the back of the coin, just above the "D" and "O" in "DOLLAR".
Nothing there means it's from Philadelphia, an "O" means it's from New Orleans, and if there's a "CC" there you've got one of the valuable ones for that year....

Example of an "O" mint mark:

Image
Dick Oslund
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I'll get out my "extra eyes" (magnifying glass) and check mint marks this morning! At 87, I may need a microscope!!!

Thanks a "million" for that additional information!
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gallagher
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Sitting out a rain storm, I wondered what a Morgan Dollar was worth,
...in 1880.
'Buying Power', in today's terms.
This is what google tells me:

$1 in 1880 is equivalent in purchasing power to about $23.53 in 2016, a difference of $22.53 over 136 years.

Dick,
keep sitting on it(!).
It will 'hatch' someday! 🙃
Gallagher

p.s.: Inigmatoya, I took a magnafying glass too my Morgan Silvers..
all I can find,
stamped finely under the eagle is: Replica

Is that a town in Texas?
Josepher
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I have three very realistic looking 1880 Morgans that I know are fake because I bought them on eBay from a seller in Vietnam.
They cost me around $10 for all which included shipping.
pabloinus
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Gallagher, your data shows $1 a bad investment, and to give a more complete story
I checked minimum wage in 1880 and this is what I got,
here is the average weekly wage for 60 hours a week:

Occupation 1860, 1870, 1880, 1890
blacksmith, 10.68, 18.24, 15.54, 16.26
carpenter, 10.92, 24.60, 16.56, 19.32
machinist, 9.48, 15.60, 13.62, 14.58
laborers, 5.88, 9.36, 8.10, 9.06

So 1 dollar of 1880 was around 7% of the weekly salary, if we take NY minimum wage of $11.10 at 60 hours in a week it gives you $660, 7% is aprox. $46, therefore the $1 of 1880 did not appreciated with the salary. In summary as you pointed out very bad investment (I am not assuming "collector" prices that has nothing to do with $1 but with rarity and scarcity)

I think the silver content market value of a Morgan is aprox $18, even worse...

Net: Better use Morgan replicas or Ikes
Dick Oslund
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Most interesting!

I did my first paid show on October 24, 1945, in the Junior High School (I attended St. Joseph High School.) I was 13, almost 14. I did it on 50% pf the gross. We charged $.10 admission!!! I made $24, in forty minutes! My pals were making $.50 an hour mowing lawns, with a "push mower", or bagging groceries.

I became a part time professional, that day.
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Conus
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It can be difficult to extrapolate legacy currency values to today's dollars. Purchasing power and product value varied on the item being purchased or sold at that time, compared to today's costs -- for example, a fresh lemon in Charles Dickens' time would have cost you far more at that time compared to today's prices.

A comparison of the cost of materials can mean very little. Van Gogh was impecunious used inexpensive paints, which have contributed to the ravages of age on his works.
gallagher
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Hey Dick,
I don't want to get you off track,
from your initial question,. 😐
But, I can't help but ask:
Do you still remember what you did for your first Show? 🤔
Miser's Dream?
Silks?
Torn and Restored Newspaper?
Were you 'talking' back then?,..or work 'stumm'?
Billiard Balls?
Were you 'scared'?
Were you any 'good'?

What did you spend your 'first buck' on?
(I bought a McD's cheese burger and milk shake, with mine.. 😋)

Can't help but being curious,
thanks for any thoughts,
gallagher

p.s.: Palonius(!). wOw!
That's really amazing.
Thanks for the research.

A funny thing about those 'old' professions,
..my grand father learned 'waggon building'.
,..wooden waggons.
His father told him,
"No matter HOW hard times get,
folks will ALWAYS need a good strong wooden waggon." 🙂
,...he ended up in the Ford axel factory,
in Detroit. 💪
funsway
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An interesting story about the value of a sliver dollar "back when." An older friend of mine (long deceased) was the foreman of a gold mine in 1907.
A pregnant woman's husband was killed in an accident and the miners chipped in to get her passage to Carson City where she could find a "non-miner" husband,

My friend Will thought it important that she have proper nourishment on the journey, so he sent out word and bought her an egg. One fresh egg!
It cost him 22 silver dollars (Morgans) - at todays pricing almost $400. As they were Carson City mint (collector rate) that is possibly $7700.

Is that a silly value of a dollar or an egg? He thought not. That child was named for him.
"the more one pretends at magic, the more awe and wonder will be found in real life." Arnold Furst



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MGordonB
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Interesting story Funsway

I think that’s an illustration of how folks really got rich during the gold rush. Very few miners and prospectors struck it rich, but the people that sold them supplies sure did!
Dick Oslund
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Quote:
On Jul 16, 2019, gallagher wrote:
Hey Dick,
I don't want to get you off track,
from your initial question,. 😐
But, I can't help but ask:
Do you still remember what you did for your first Show? 🤔
Miser's Dream?
Silks?
Torn and Restored Newspaper?
Were you 'talking' back then?,..or work 'stumm'?
Billiard Balls?
Were you 'scared'?
Were you any 'good'?

What did you spend your 'first buck' on?
(I bought a McD's cheese burger and milk shake, with mine.. 😋)

Can't help but being curious,
thanks for any thoughts,
gallagher

p.s.: Palonius(!). wOw!
That's really amazing.
Thanks for the research.

A funny thing about those 'old' professions,
..my grand father learned 'waggon building'.
,..wooden waggons.
His father told him,
"No matter HOW hard times get,
folks will ALWAYS need a good strong wooden waggon." 🙂
,...he ended up in the Ford axel factory,
in Detroit. 💪


I'll respond later. I keep records!
SNEAKY, UNDERHANDED, DEVIOUS,& SURREPTITIOUS ITINERANT MOUNTEBANK
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