Crafts-Hobbies Vivian | 01 Dec 2010 11:52 am

Collecting and Investing in Morgan Silver Dollars

Morgan Silver Dollars were first minted in 1874 and they were produced for 30 years ending in 1904. The U.S. Mint then did a limited production of this coin again in 1921 due to an abundance of silver. The Morgan Silver Dollar isn’t named like other coins after famous politicians or business people, but instead is named for the designer himself. Before these coins were available, the Seated Liberty Silver Dollar and Silver trade coins were in circulation, and mostly used for trade with the Far East. These coins were produced with 0.77344 troy ounce of silver.

Morgan Silver Dollars originated around the same time as a silver strike in Nevada. In 1921, there was an abundance of silver, which caused the government to produce one more round of these coins, which are now more famous than the ones produced prior to this time. Collectors and investors both know that the value of these coins is far more than any monetary compensation.

One man in particular began collecting these Morgan Silver Dollar coins throughout his life, and lived as though he was broke. When he died during the 1970s, he ended up leaving over 100 million dollars in his estate, including 400 bags of Morgan Silver Dollars, which each contained 1,000 coins. The coins were apparently purchased for $1 each at the time, but sold for more than $7 million when they went to auction because of their iconic status as the largest known collection in the world.

There are many different Morgan Silver Dollars that have significant value, including many that are stamped with a “cc” mint mark. This mark means that they were manufactured at the Carson City Mint during the Silver strike, making them rarer and more valuable than other Morgans. The most popular years for these coins include the 1889 cc, the 1893 s and the 1895 Morgan Silver Dollar which are highly sought after by those involved in coin collecting.

The Morgan Silver Dollar is now merely a collector’s item, but can be a great investment for those who collect the right coins, or enough of the coins. If you had one of the rare coins that are highly sought after, you may likely learn that it can be worth far more than you paid for it, and you could easily live out your life with the profit from selling these few coins. Many people collect the Morgan Silver Dollar, even though it has no use in society as money because they are still valued as rare collectible coins.

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