Collecting Morgan Silver Dollars can be a rewarding hobby and potentially a form of investment. Consequently, there are individuals who buy and collect these coins, while others engage in buying and selling them online and in auctions to turn a profit. You can participate in this activity as well by sourcing Morgan Silver Dollars at a reasonable price and subsequently selling them online, preferably in online auctions, for profit. The good news is that LuckScout now facilitates the process of running your own auctions in a straightforward manner, and it’s completely free (here).
Morgan Silver Dollars are a type of silver coin that was minted in the United States from 1878 to 1904, and then again in 1921. They are named after their designer, George T. Morgan. These coins are composed of 90% silver and 10% copper, with a diameter of 38.1 millimeters (1.5 inches) and a weight of 26.73 grams (0.77344 troy ounces).
History of Morgan Silver Dollars
The history of Morgan Silver Dollars is intertwined with the economic and legislative developments of the late 19th and early 20th centuries in the United States. Here’s a brief overview:
Bland-Allison Act (1878)
The Bland-Allison Act of 1878 was enacted to address the shortage of silver coinage in the U.S. economy. It required the U.S. Treasury to purchase a certain amount of silver each month and mint it into silver dollars.
Minting of Morgan Silver Dollars (1878-1904)
In response to the Bland-Allison Act, the U.S. Mint began producing Morgan Silver Dollars in 1878. Designed by George T. Morgan, a British engraver, the coin featured Lady Liberty on the obverse and an eagle on the reverse.
George T. Morgan, born in Birmingham, England, in 1845, was a prominent engraver who became the Chief Engraver of the United States Mint. His most renowned work is the design of the Morgan Silver Dollar, first minted in 1878. Notably, Morgan departed from tradition by featuring a realistic left-facing portrait of Lady Liberty, modeled after Philadelphia schoolteacher Anna Willess Williams, on the obverse. The reverse showcased an eagle with outstretched wings, a departure from previous designs, and lacked the explicit “In God We Trust” inscription, causing initial controversy. Morgan’s artistic and innovative approach, including the inclusion of his initial “M” on the coin, resulted in an enduring legacy. The Morgan Silver Dollar remains an iconic and highly collectible piece in American numismatics, reflecting Morgan’s significant contributions to coin design and numismatic artistry.
Pause in Production (1905-1920)
Due to a surplus of silver dollars and changing economic conditions, production of Morgan Dollars ceased in 1904. The last Morgan Dollars were minted in 1921 under the provisions of the Pittman Act.
Pittman Act (1918)
The Pittman Act of 1918 was passed to authorize the melting and recoining of silver dollars. The goal was to provide silver to the British government, which had depleted its silver reserves during World War I.
Resumption of Minting (1921)
In 1921, under the Pittman Act, the U.S. Mint resumed the minting of silver dollars. The design was modified slightly, with the most notable change being the inclusion of the year 1921 on the coin.
End of Production (1921)
The minting of Morgan Silver Dollars ceased in 1921 as the U.S. Mint transitioned to the production of the Peace Dollar.
Collector’s Popularity
Morgan Silver Dollars gained popularity among collectors over the years, driven by their historical significance, attractive design, and silver content. The coins became sought-after items in the numismatic market.
Revival of Interest (Late 20th Century)
In the latter half of the 20th century, Morgan Silver Dollars experienced a resurgence of interest among coin collectors and investors. This led to increased demand for specific dates, mint marks, and well-preserved specimens.
Key features of Morgan Silver Dollars include:
Design
The obverse (front) of the coin features a portrait of Liberty, often thought to be based on Anna Willess Williams, and the reverse (back) typically depicts an eagle with outstretched wings.
Mint Marks
Morgan Dollars were minted at several U.S. Mint locations, including Philadelphia (no mint mark), New Orleans (O), San Francisco (S), and Carson City (CC). The mint mark is usually found below the wreath on the reverse side.
- CC (Carson City): Coins minted in Carson City, Nevada, bear the “CC” mint mark. Carson City Mint operated from 1870 to 1893. Morgan Dollars with the CC mint mark are often considered more collectible due to the limited number of coins produced at this mint.
- O (New Orleans): Coins with the “O” mint mark were minted in New Orleans, Louisiana. The New Orleans Mint operated from 1838 to 1909 (excluding the Civil War years). Morgan Dollars from the New Orleans Mint are also sought after by collectors.
- S (San Francisco): The “S” mint mark represents coins minted in San Francisco, California. The San Francisco Mint produced Morgan Dollars from 1878 to 1904 and then resumed in 1921. San Francisco Mint coins are generally popular among collectors as well.
Collectors often pay attention to mint marks when evaluating the rarity and desirability of Morgan Dollars. Additionally, some Morgan Dollars were minted in Philadelphia without a mint mark, and these are referred to as “plain” or “no mint mark” Morgan Dollars. Each mint had its own production numbers and characteristics, contributing to the variety and interest in collecting Morgan Silver Dollars.
Years of Production
The initial production run was from 1878 to 1904. After a hiatus, the U.S. Mint resumed production in 1921 due to the passage of the Pittman Act, which required the melting and recasting of millions of silver dollars.
Collectability
Morgan Silver Dollars are popular among collectors and investors due to their historical significance, silver content, and distinctive design. Some years and mint marks are more sought after, contributing to variations in value.
Silver Content
With 90% silver composition, these coins are valuable not only for their collectible appeal but also for their intrinsic silver value.
Morgan Silver Dollars are highly collected and traded in the numismatic market. Collectors often seek specific years, mint marks, and conditions to complete sets or acquire coins with historical significance. If you possess a Morgan Silver Dollar and are considering buying, selling, or appraising it, factors such as condition, rarity, and demand can influence its value.
Morgan Silver Dollars Price Range
The price range of Morgan Silver Dollars can vary widely based on several factors, including the coin’s condition, rarity, year of minting, and specific mint marks. Here’s a general overview of the price range for different categories of Morgan Silver Dollars:
Common Date Circulated Coins:
- These are Morgan Dollars with common dates and noticeable wear.
- Price Range: $25 to $50 and up.
Better Condition or Specific Mint Marks:
- Morgan Dollars in better condition or with specific mint marks (e.g., Carson City – CC) can be more valuable.
- Price Range: $50 to several hundred dollars or more.
High-Grade or Rare Coins:
- Morgan Dollars in high-grade condition or with rare attributes can command higher prices.
- Price Range: Several hundred to several thousand dollars.
Where to Buy Morgan Silver Dollars to Sell in Online Auctions?
The best places to buy Morgan Silver Dollars include reputable coin shops and numismatic stores. Local coin shops often carry a variety of coins, providing a hands-on experience for collectors. Coin shows and numismatic events are excellent venues to explore, with dealers showcasing diverse selections. Auction houses specializing in numismatics can offer unique finds. Additionally, attending estate sales and local auctions may unearth hidden treasures, as silver dollars are sometimes part of estate inventories. Coin forums and communities can be valuable for connecting with individual collectors willing to sell. These physical venues provide opportunities to examine coins in person, assess their condition, and engage with knowledgeable sellers, contributing to a more personalized coin-buying experience.
Morgan Silver Dollars are not rare; you can also find them in almost any antique shop. As the majority of people may not know or care about the value of these coins, there are instances where many are left abandoned in antique shops, offering the opportunity to purchase them at a lower price. Subsequently, you can sell them in online auctions.
Sell Your Morgan Silver Dollars on LuckScout Auctions
Once you’ve found and purchased some Morgan Silver Dollars, you can sell them on LuckScout Auctions or LuckScout general marketplace, and we’re here to assist you.
Why Sell Them on LuckScout Auctions?
While you can also sell your Morgan Silver Dollars on eBay and other auction sites, there’s a significant difference here. By doing it on LuckScout, you earn points and become a beneficiary of the community income. Moreover, you have numerous other ways to earn money on this site for free and without any risks. Our marketplace is free for our members, and we don’t charge any fees, unlike other sites that impose substantial charges on sellers. While there are routine fees like PayPal fees that don’t go to our pocket, they are unavoidable regardless of where you sell your coins. By participating here, you accumulate points that enable you to earn active and passive income. To learn more about how our system works, please visit this page and explore the other pages listed on it.
What we offer here for free has never been available on any other site before and will never be offered anywhere else in the future because our goal is not to enrich ourselves but to enrich our community. In contrast, others are solely focused on enriching themselves.
Here Is My Morgan Silver Dollar Auction:
I currently possess one from 1880, minted in Philadelphia, and have initiated an auction on LuckScout. The purpose is not to profit from selling this coin but to illustrate how effortlessly one can find and sell these coins. The auction begins with a starting price of $5 CAD and spans one week. If you’re interested in acquiring my Morgan Silver coin, please feel free to place your bid and also share the auction with others to view the coin and participate. Click here to visit the auction page.