Collecting Morgan Silver Dollars
Morgan Silver Dollar Coins are probably some of the most recognizable and collected of all United States coins. But for a true coin collector it is more than just recognition that you are looking for you. A true coin collector wants a coin that has a history and a journey to it, and the Morgan Silver Dollar does have a great deal of history behind it.
The Morgan Dollar is a silver coin that was first manufactured in 1878. The Morgan coin continued to be minted for twenty-six years until 1904. They were also resurrected one more time in 1921. Its name comes from its designer, George T. Morgan. Mr. Morgan is responsible for the design on both sides of the coin, and if you look very carefully next to Lady Liberty’s neck, you will see Morgan’s initials.
In the 1850’s the U.S. enjoyed the largest silver strike that it had ever encountered. Due to the Comstock Lode strike, silver prices were driven down internationally. In 1878, the Bland-Allison Act was passed, which authorized the U.S. Treasury to procure a large amount of silver to be made into coins. With these low silver prices, the US decided that the coins that were going to be made from the silver should be coins that were worth a dollar. Unfortunately, in the years since the Morgan Dollars were at their most popular, many of these have been melted down. Typically, this happened when the prices of the rare metal escalated again.
In the early 1970’s, a large collection of Morgan Dollars were found. These silver coins were originally minted at the Carson City Mint, and were sold by the U.S. government to collectors. A great number of these coins have never entered circulation, and will be found in a plastic case.
In each Morgan Silver Dollar, you will be able to find out which mint the coin was manufactured at. This is due to the Mintmark that can be found under the bald eagle. Though there were many mints that manufactured the Morgan Silver Dollar Coin by far the one with the highest value is a coin from Carson City.
One of the best reasons to invest in a Morgan Silver Dollar is that there are only a few of the original stock in the marketplace today. That means that there is a demand for them. However, right now these coins are incredibly affordable for the ultimate return that they are sure to provide. Not only are Morgan Silver Dollars desired in the U.S., but they also have a fairly large international interest in them. Demand drives up price, so if you have one chances are your profits will be larger due to the larger demand!
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