The Morgan Silver Dollar was produced for a span of more than 40 years, from 1878 to 1921. In fact, it was in circulation longer than any other coin of its type. Up to three different coin designs were produced each year during the duration of the minting. That means there are several different Morgan Silver Dollars floating around the market today – but not every Morgan Silver Dollar is super valuable. Also, some of these coins are very rare, but that depends on the design and minting. We’ll discuss that more below.
It was celebrated (and still is celebrated) as the best of the silver dollar designs. Since its first minting the popularity of this coin has been exponential. Collectors in the late 1800’s couldn’t wait to see the latest design and would run to add to their collection. It’s still popular with collectors to this day – and its popularity is not slowing down. When production stopped in 1921 a new coin was released and it wasn’t nearly as popular as the Morgan.
Because these coins are now all 100 years old, or older, finding one that’s untouched and well-preserved is pretty uncommon. Nonetheless, this is always the goal for collectors. Collectors look out for coins that are well-preserved. The coin’s physical status is going to impact its value, but that’s not the only thing that dictates value.
This coin is considered to be one of the few remaining physical relics of the great American western frontier and the spirit of pioneerism. It’s said that holding a Morgan in your hand is akin to being transported back to the American Old West – the America of ingenuity, prosperity and entrepreneurship. These coins are 90% silver and were mined from Nevada’s legendary Comstock Lode, the site of the first major discovery of silver in the United States and named after Henry Comstock.
It’s difficult to determine the “average” price on a Morgan Silver Dollar. That’s mostly because it’s not an average coin and it doesn’t come with an average price tag. One way to determine the actual price of a Morgan Silver Dollar is to have the actual coin in your hand and take it to a reputable dealer who will give you a quote. Without an exact coin we’re only dealing in approximations. There are many different factors that go into the value of coins – especially this one. The price may vary depending on the individual coin’s condition and the scarcity of the particular coin. These coins might go for as little as $10 all the way up to $100 or even more.
The coins that everyone wants are the ones that haven’t succumbed to wear and tear – this is true of most coins and especially true of Morgans. Collectors want to see Morgans that are old but don’t look like they’re old. Well preserved coins are going to fetch the highest price tags.
Buyers will also pay top dollar for coins that meet their specifications as far as the specific design of the coin and the year they’re looking for. Collectors want the oldest available coins. The earliest Morgan Dollars can bring in a pretty penny. These are the coins produced between 1878 and 1879. That first and second year of production are the holy grail for Morgan Silver Dollar collectors. The late 1870’s and early 1880’s coins go for the highest prices simply because they’re the oldest. Ones that are in pristine condition command the highest prices of all. Another important thing to know about these coins is that up to three different designs were produced each year during the duration of their minting. The specific design of the coin is going to be a big determinant in the value. For example, the 1878 CC Morgan Silver Dollar is especially difficult to find. Collectors want this coin specifically because of its rarity and age. Finding one of these in good condition is a big win.
There are a few different things to consider when thinking about the future of coins and their future investment potential. One of the things to think about is, “Is the coin still produced.” Because the Morgans haven’t been printed in over 100 years, they’re automatically going to be rarer than a coin that’s still printed. They’ll never be produced again and for that reason collectors are attracted to them. This also means that the value of the coin is always on the rise. Another thing adding to that value is the fact that hundreds of these coins were melted down during their minting and at the end of their minting. In other words, there were a certain number of these coins produced, but only a percentage actually made it into the future. Fewer and fewer Morgans will make their way onto the market over the years and this is great for collectors. As time goes by these coins will only get more valuable.