Gold Au $2345.24 $-33.27
Silver Ag $27.91 $-0.60
Platinum Pt $979.95 $-11.01
Palladium Pd $1057.31 $-8.24
Call 317-545-7650

The Allure of the Morgan Silver Dollar: A Collector's Guide

Published by: Matt Dinger - Lost Dutchman Rare Coins on December 11, 2023
The Allure of the Morgan Silver Dollar: A Collector's Guide

The Morgan silver dollar is more than just a coin; it's a piece of American history. Minted from 1878 to 1904 and again in 1921, these silver beauties boast a stunning design and a rich history, making them highly sought after by collectors worldwide.

What makes them so special?

  • Silver content: Morgan silver dollars are minted with 90% silver, making them valuable not only for their numismatic appeal but also for their intrinsic metal content.
  • Unique design: The iconic design by George T. Morgan features Lady Liberty on the obverse and a bald eagle on the reverse, creating a timeless and recognizable image.
  • Variety and rarity: With various mints producing Morgans over the years, each coin has its own unique mintmark and mintage figures, leading to a vast array of rarities and collecting opportunities.
  • Historical significance: These coins witnessed major events in American history, from the Wild West to the Great Depression, adding a layer of intrigue for history buffs.

Getting started with your collection:

  • Define your goals: Do you want to collect every date and mintmark, focus on a specific mint, or simply acquire a few representative examples? Setting clear goals will guide your collecting journey.
  • Do your research: Educate yourself about Morgan silver dollars by reading books, attending coin shows, and joining online forums. Learn about grading, minting processes, and market trends.
  • Set a budget: Determine how much you're willing to spend on your collection. Morgans range in price from a few dollars for circulated examples to tens of thousands for rare Mint State specimens.
  • Buy from reputable dealers: Ensure you're buying genuine coins from trusted sources. Look for dealers with good reputations and certifications such as the Professional Numismatists Guild (PNG).

Collecting strategies:

  • Date and mintmark sets: This popular approach involves collecting one Morgan from each year and mint. While challenging, it offers a comprehensive picture of the entire series.
  • By grade: Focus on acquiring Morgans in specific grades, such as Mint State or Uncirculated, for a more high-quality collection.
  • Variety collecting: Explore the fascinating world of Morgan silver dollar varieties, including errors, overdates, and mintmarks.
  • Themed collections: Build a collection around a specific theme, such as Morgans from a particular historical period or featuring a specific design element.

Beyond the coins:

Collecting Morgan silver dollars is not just about acquiring coins; it's about learning history, appreciating art, and connecting with fellow enthusiasts. Join coin clubs, attend auctions and shows, and share your passion with others.

Remember, collecting is a journey, not a destination. Enjoy the process of learning, acquiring new pieces, and building a treasure trove of silver history.

Additional resources:

  • The Red Book: A Guide Book of United States Coins
  • The Morgan Silver Dollar Collector's Encyclopedia
  • The Numismatic Guaranty Corporation (NGC)
  • The Professional Coin Grading Service (PCGS)
  • The American Numismatic Association (ANA)

Happy collecting!