Collecting Morgan Silver Dollars

Why would anyone want to collect coins? To begin with, many individuals find the idea of coin collecting an interesting prospect because of the historical significance placed on each coin, plus the investment value of a good collection. In the United States, each minting of a particular coin comes with its own unique purpose and is embedded within the US history of the time. This makes learning about the coins both fun and educational. Aside from the historical benefits of collecting coins, there is also a monetary advantage as many people collect coins in hopes that it will appreciate in value. This can be due to its intrinsic value such as in the case of the Morgan silver dollars that have a high silver content making the properties of the coin more valuable than its denomination. It can also be due to the rarity of the coin, and very importantly, the overall condition of the coin.

Morgan silver dollars were minted from 1878 to 1904 and again in 1921. The historical significance of the coin being minted is found as a result of the Comstock Lode and the Bland-Allison Act. When the Comstock Lode produced the world’s most lucrative silver ore find to date, the price of silver dropped worldwide, prompting the United States’ Treasury to purchase large amounts of silver for the purpose of minting coins. The Morgan silver dollar was the coin that was decided upon for this endeavor, and was named for George T. Morgan, the engraver who designed the coin itself and later became Chief Engraver of the United States Mint. Because the Morgan silver dollar is rich in historical fact, it makes it one of the more desirable US coins for collectors.

Morgan silver dollars are comprised of over 24 grams of silver. Depending on silver prices, this can increase the dollar value of the coin substantially simply based on its intrinsic worth. The higher that silver prices increase, the more valuable this silver dollar is. With today’s silver prices, the intrinsic value alone makes the Morgan silver dollar much more valuable than the printed denomination if melted down. While most collectors are not looking to melt down rare coins for their silver value, it is a factor in its worth which makes the coin appealing and highly sought after by many coin collectors.

The rarity of the Morgan silver dollar also affects the value of the coin and makes it one of the more desirable acquisitions among collectors. Specifically, there are particular years, variations and minting cities, that tend to make some coins difficult to find. Collectors of Morgan silver dollars find the search for these rare coins exciting, and enjoy this type of emotional response in their quest to acquire them. In addition to the excitement of finding that special coin, the Morgan silver dollar has the intrinsic value, and makes it one of the most sought after coins.