The Morgan silver dollar, struck between 1878 and 1904 with a final mintage in 1921, stands as one of the most coveted and well-known coins within American numismatics. It is one of the most venerated and valuable coins in U.S. history.
Collectors and investors alike are drawn to its historical importance, visual attractiveness, rarity, and bullion value. Not many coins can make the same claim to such a distinguished position that the Morgan holds. Let’s take a quick look at what makes this silver coin a sought after asset:
Historical Significance
Rich in history, the Morgan Dollar signifies an age of westward expansion, industrialization, and economic transformation in America. The coin was named after its designer, George T. Morgan, and it came into circulation after the U.S. Treasury, bent on saving the silver-mining industry, was compelled by Congress to purchase great quantities of silver.
The legislation and the resultant coinage embody the political and economic dynamics of the late 19th century. Collectors not only admire the coins as vehicles of commerce but also as collectibles that preserve the memory of a significant period in U.S. history.
Stunning Design
The widely esteemed and intricate design of the silver dollar honors Morgan. The coin’s obverse displays the profile of Lady Liberty, the picture of freedom and opportunity embodied. The coin’s reverse features a heraldic eagle, wings outspread, clutching arrows in one talon and an olive branch in the other.
Three stars are above, and the words “E Pluribus Unum” (Latin for “Out of Many, One”) border the design.
Scarcity and Rarity
Morgan silver dollar do not share equal standing. The roles of rarity and mintages affect their market prices. Certain dates and mint marks are very rare, thanks to low production numbers or minimal survival rates.
And, to add insult to injury (for the Morgan collector), many of these coins that could have formed a stable base for future Morgan investing were melted down in the early 1900s when the price of silver shot up.
Additionally, countless numbers of the coins that fell into the “common date” category at that time were also melted down between 1920 and 1930.
Intrinsic Silver Value
Every Morgan silver dollar has 0.7734 troy ounces of 90% fine silver in it, which means it has lots of intrinsic value. Even though collectible coins often sell for much more than their bullion equivalents, the price of silver can make them even more tempting as investments.
When the economy is shaky or when inflation is rising, people sometimes like to buy silver coins as a way of hedging or preserving their wealth.
Adding the Morgan Silver Dollar to Your Collection
The Morgan Dollar makes a valuable collectible not only because of its historical importance but also because of its wonderful design, coveted rarity, historic silver content, and lasting allure.
For eye appeal, investment potential, or historical connection, the “old lady,” as many refer to her, remains a storied and beautiful asset in the world of coin collecting. Whether you are new to coin collecting or precious metals all together, these silver dollars are a great starting option.