Silver Dollar

Morgan Silver Dollar

The Morgan Silver dollar is truly a well-liked silver dollar coin among collectors. Many discover collecting the silver dollar to become an enjoyable pastime and silver dollar collecting also offers the collector increases in monetary value for the old coins value. Silver dollar coins are collected both for their classic and historical properties, as well as for silver price per ounce investing reasons.

The Morgan Silver dollar is rich in a historical past that can be likened to that of Cinderella, by means of a rags to riches tale. In order to fully appreciate the value of these coins, people should try to comprehend the history surrounding them.

George T. Morgan is credited with the design of the Morgan Silver dollar. He developed the obverse and reverse sides on silver dollars coinage, this being the separate pictures that are on both sides. On the obverse side with the coin is a portrait of 'Lady Liberty'. In fact, because the story goes, a woman by the name of Anna Williams sat for her portrait to be taken, and later gained national acclaim as 'Miss Liberty'. Near Lady Liberty's neck, Morgan's monogram can be seen.

The reverse side of the silver dollars coin bears the likeness of an eagle which is grasping olive branches and arrows in each of its feet. Olive branches denote peace, arrows war, and each combined signified a new era for the United States, one that symbolized a time of peace and military strength.

Silver Dollar

The Morgan Silver dollars have a precious metal content material which roughly comes to 24 grams of the metal per coin. They were minted from 1878 to 1904, and then again for one 12 months, 1921. The coins were not well-liked when they had been initially created, in fact, a lot of criticism existed as people thought that the head with the eagle looked rather scraggly and in fact, looked like that of a buzzard, hence bestowing upon the silver dollar coin the nickname of 'Buzzard Dollar'. The silver dollars weren't authorized until the year 1878 with the passing of the Bland-Allison Act. This law required that two to four million ounces of silver be bought by the United States Treasury each month. The Treasury became the biggest buyer of the silver dollar coinage.

The metal silver dollars were commonly used in every day commerce both nationwide and around the world and in some cases became recognized because of the Liberty Head dollar. A shortage of silver in 1904 brought about the end of production for the silver dollar coins. More than two hundred million Morgan dollars were melted down into silver bullion bars. This and subsequent melting contributed to the rarity of Morgan Silver dollars minted in particular years causing the collecting appeal and value of the remaining silver dollars to increase a lot. A few of the dollars, seventeen % to be exact, remained intact. The preservation of this seventeen percent is due to the passing of the Pittman Act in 1918. This law set up the prevention of melting silver dollar coins down to bullion exceeding three million, and in fact because of this law almost that many silver dollars had been, in fact, re-minted.

The value in Morgan Silver dollar prices are dependent on not only the quality of the coinage, but also on where the individual coins were minted. By looking at the reverse side, the one with the eagle, mint marks can be observed in between the D and O in the word dollar. A single letter denotes exactly where the coin was minted, and if no letters can be seen, the coin was minted in Philadelphia. The most collectible and highest Morgan Silver dollar values reside with those minted in Carson City, Nevada. This is due to the reality they're of low mintage.

Morgan Silver dollar values rose and gained in public interest when over four hundred thousand dollars worth of the coins were discovered in the basement of the home of LaVere Redfield. This discovery enticed several collectors who vied for possession of the coins and eventually led to an auction, with the winner posting a bid of over seven million. Value of silver dollar coins continue to rise as they are collected worldwide and valuable due to the precious metal content and beauty in design. Many investors believe there's a level of security within the investing of coins throughout times of economic and political unrest, and precious metals are an excellent investment due to a continual demand and short supply. One of the primary characteristics of the Morgan Silver dollar, despite containing the precious metal, is the fine detailing of the pictures that appear on each side of the coins. The most beautiful proofs of the coins have almost a mirror like affect on each the obverse and reverse. Standard Morgan Silver dollar costs are around $50 per coin, nevertheless, different coins have various values. For instance, one minted in 1887 in San Francisco can easily sell on the current market for close to one hundred dollars, although a silver dollar minted in 1885 from Carson City can sell for over five hundred.

The shimmer of precious metals and the nostalgic pastime of collecting can be sufficient to lure individuals into the appeal discovered in Morgan Silver dollar values. Wise collectors can both appreciate the value in the silver dollar and appreciate what could be represented by means of history as each silver dollar coin tells a story.  

All Images on this website courtesy of www.harlanjberk.com 

Silver Dollar Facts