Holding a Morgan silver dollar in your hand is a memorable experience. These big silver rich coins are much more impressive than any of our current coinage. For many years the average American worker made only about $1 a day and they were frequently paid in silver dollars. Desperadoes stole bags of these big coins from banks, cowboys plunked them down in saloons and gamblers bet them in poker games.
Imagine the stories these artifacts could tell if they could talk! I believe every collector should own at least one Morgan silver dollar. These big 90% silver coins not only evoke the romance of the past, but offer the value of silver with the added advantage of collectibility.
Morgans are the most collected classic silver dollars in the world. All of these legendary treasures are now over 100 years old and their vintage status is only enhanced with each passing year. And due to melts and attrition, they are tougher and tougher to find all the time.
Very Few Survive:
Only about 17% of original Morgan mintages are estimated to survive today. The vast majority of the silver dollars were lost through melts. In fact, it’s estimated that 40% of Morgans were melted during the two world wars. In the 1960s and again in the 1980s more were lost when silver prices skyrocketed. No one knows how many more were melted a few years ago as silver prices more than doubled. When these irreplaceable keepsakes of history are melted, surviving coins become more valuable.
Double Dynamic of Value:
Silver numismatic coins, like Morgan dollars, have a double foundation of value. The combination of demand in the collecting marketplace and intrinsic precious-metal value give these coins a twofold advantage. As well as hard-asset value and scarcity, personal possession and portability are also all strengths of Morgan silver dollars.
Naturally, previous performance is no guarantee of future gains. (We recommend coin collecting as an enjoyable hobby rather than an investment vehicle.)
Where to Go From Here:
One advantage of collecting Morgan silver dollars is that they come in a wide range of price points! Common dates in circulated condition are a wonderfully affordable way to start a collection. For more committed numismatists, there are plenty of options for scarce Morgans at higher grades with costs ranging up into the four figures and beyond! As always, start with what you can afford that truly interests you and go from there. As you collect learn as much as you can about the series and enjoy the thrill of the coin hunt!
But beware, once you have acquired one Morgan dollar you’ll inevitably want more of the big silver treasures!