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Was at an auction today. Lots of sterling silver items. Tea sets, candle holders, dishes, etc.
Set of six sterling spoons came up. I had to guestimate the weight apparently I was light. Picked up six sterling spoons for net $77.22 weight was 125 grams
Scored a pair of 10 k wedding bands for $106.92 weight was 5 gram.
I realized I overpaid but I didn't have a scale. Did I really do that bad?

You bought a bit high and paid for a real cheap lesson.

Learn and drive forward.

Paid about double if you wanted to try to flip them. As Theoguy said...lesson learned and it didn't cost you a ton.

I was just going to tuck them away. Hopefully with a price spike I can be redeemed. What is incredible to me was how much common Morgan were going for. I was going to consign to this auction but I could not bring myself to do it with the silver price so low, especially if I had to take a 20% hit on commission. My lesson was cheap compared to some other buyers.

Changechecker wrote:I was just going to tuck them away. Hopefully with a price spike I can be redeemed. What is incredible to me was how much common Morgan were going for. I was going to consign to this auction but I could not bring myself to do it with the silver price so low, especially if I had to take a 20% hit on commission. My lesson was cheap compared to some other buyers.

I can't believe how much people pay for Morgans. My aunt bought my daughter a Morgan for her 1st birthday. She told me she paid $100 for the beat up crappy Morgan.
Maybe they had to charge so much because it came in a nice plastic case. Needless to say, this aunt knows nothing about coins or silver, but won't listen to advise regarding silver or coins from me because she knows everything.

I wish I could find suckers willing to give me $100 for common Morgans.

The general public has always had the misconception that a Morgan dollar with an 1800's date must be very valuable due to its age and large amount of silver. Last month a new neighbor moved in across the street from me. He's around 70 and I told him my hobbies he told me he had some silver dollars so I told him to bring them over and I'll appraise them for him. And as usual its the same old story as he handed me two '21 Morgans and a '22 & '24 Peace--all average circulated. I told him they're worth about $20 each and he gave me a look of disbelief. After I explained to him the reasons why they are just "glorified bullion" he actually had an angry look on his face. Perhaps he thinks I'm full of it because he hasn't been too friendly since then.

Back in 2011 I attended an auction in Medford, Oregon and I was astounded to watch the non-numismatists bidding $60 to $80 each on average circulated, common date Morgans when at the same time the local coin shop was selling them for $36

Well, a thing is worth what people will pay for it. I know that Morgans are one of the worst ways to buy silver, but I still love a high quality pre-1900 Morgan. And for some reason the O mint mark is appealing, even tho most of these are very common. I wouldnt pay $20 for one, but I do prefer them to rounds; even though the round is a better purchase of silver. So long as the world is full of fools like me, Morgans will hold a premium over their melt value.