A History Lesson For Making The Right Investment
by D. L. Crane
The record and history of many United States coins is very intriguing, and for that reason, coin collecting has become a increasing investment. Their past shows us a quick look into a part of US history, including economic facts and other major events taking place worldwide. Specifically one coin in particular, the Morgan Silver Dollar, named after its designer, George T. Morgan, has a rich and very fascinating historical meaning in its birth. Besides being uncommon, the Morgan Silver Dollar has historical importance, and an added value to the coin is its silver content. Because of this, the Morgan Silver Dollar coin is highly desirable among the coin investors today.
Morgan silver dollars are the perfect addition to any coin investment collection. Because of the silver content, these coins were at risk to melting for profit. Many of these coins still survive and have a high value to numismatists (The study or collection of money, coins, and often medals.)
Morgan silver dollars were minted between 1878 and 1903, then again in 1921. It is composed of 90% silver and 10% copper. Production was stopped in 1904, and hundreds of millions of Morgan Dollars were melted down for their 90% silver content because the price of silver went up. To provide war-time silver for Great Britain in 1918, over 270 million Morgan Dollars were melted down. Today's admiration of the Morgan Dollars show in its rarity thus investors and collectors have made the Morgan Dollar one of the most desired and valuable American coins in the world. There is the feeling of tradition and American history in holding a Morgan Dollar in your hand feeling and knowing what the silver coin carries in its weight and worth. The owner of Morgan Dollar knows the rarity of the coin's true value and worth. From 1904 to 1920, the mint ceased the Morgan silver dollar. Many of the older silver dollars were melted and replaced with the Peace design after one final run of the Morgan silver dollar in 1921.
Morgan Dollars are a little difficult to give average values for because many dates of Morgan Dollars were never circulated in large amounts. They were sold by the Treasury Department straight to coin collectors. Consequently, the Morgan Dollar values are given in two grades, "average circulated" and "basic uncirculated."
One hundred and sixteen years ago the San Francisco Mint struck 100,000 of the 1893-S Morgan Dollars so there are no more than 100,000 people with a 93-S Morgan. The 1893-S Morgan is the "KEY" Morgan Silver Dollar with the highest grades valued well into the high hundred thousands of dollars. The Record Morgan Silver Dollar sold for over One Million dollars.
The Morgan Silver Dollar Series carries a number of Key Dates as well as some Semi-Key Dates that all have significant values. See Price Guide
1883-S is both a common date and a key date coin in the Morgan Dollar series. These coins were widely circulated, and so most became heavily worn. Therefore, in heavily worn condition, these coins are common. However, since they were so widely circulated, the number of remaining coins that did not get circulated is very low -- making this a key date in the upper grades.
Now I am listing some samples of Morgan Silver Dollar values to show what you have the chance to invest in. And remember the values continue to increase.
A 1884-S Morgan dollar retails for - $17 if very worn, - $28 with moderate wear, - $250 if almost like new
The 1889 CC Morgan Dollar in circulated condition is valued from $475 in well worn condition to $9500 in almost uncirculated condition. Uncirculated coins have a value from about $30,000 in an MS62 grade to $450,000 in an MS67 grade. These higher grade coins are scarce. Additionally, exceptional coins such as those displaying a proof like appearance or a deep mirror proof like appearance have values that range from about $30,000 for an MS62 to $90,000 in an MS64 grade.
1893-S is the highest value circulation issue, at least in better grades - while a worn specimen retails for \"only\" a couple of thousand, mint-state coins retail in the $85K-$100K range. When the Norweb 1893-San Francisco Mint dollar was auctioned for $355,500 in Nov. 1988, collectors were stunned. Nobody then thought that a Morgan Dollar could be worth more than a quarter of a million dollars. Indeed, until the Norweb III auction, a Morgan Dollar had probably never before sold for as much as $150,000. Just imagine the value now with the current economic situation!
A 1895-S in very fine condition is worth: $450.00
Click here for a price guide on Morgan Dollar Values
The Morgan silver dollar is arguably the most popular coin in the history of the world. If investing in premier rare coins is the way you want to go, remember these are the classic coins that have literally made fortunes for some of the richest investors and collectors in America. The Morgan Silver Dollar coins are timeless beauties. They continue to hold their value and will for decades continue to be loaded with appreciation potential and should be part of any rare coin collection.
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