Legal Tender - Silver Bullion Coins For the Collector Or Investor
December 19, 2008
This article will provide a General Description of Gold, Silver, & Platinum Bullion
A lot of people are familiar with bullion coins and bars, and you see them offered on TV or on websites, but the sheer number of these products may cause even the experienced investor to pause. They are similar in nature, they move up or down directly with the price of gold, silver, or platinum on a daily basis. And, their buy and sell prices are easy to comprehend.
They are precious metals and as such are measured by the Troy ounce, as compared to your bathroom or postal scale weight which is called Avoirdupois. For the record 14.58 troy ounces = 16 postal scale ounces. The Troy ounce is approximately 10% heavier than the Avoirdupois weight. These bullion products move directly with the New York Commodity Exchange, which opens for trading at 5:30 AM and closes at 10:30 AM California time. After the Comex (Commodity Exchange) closes the price of these coins usually remain fized until the beginning of the next trading day. However there is an aftermarket which may cause quote changes.
A definition of bullion coin: one in which there is little premium above the content or weight value of the coin. You are buying only the commodity itself. Coins like this will increase in value if world markets go up and will decrease in value if world markets go down. This happens because bullion manufacturers produce large numbers of them each year, and eliminates the idea of these coins being rare in any sense, this is not the same for government issue bullion coins.
Silver Dollar Coins - Prized Collectibles
December 14, 2008
Lots of folks enjoy accumulating and exchanging silver dollar coins as a pastime. Now is it less common to see these silver coins at all so it is a thrill to come across one. Unfortunately, not everyone recognizes rarity and seeing only the denomination of these coins will have no problem spending them like any other cash.
In the late 19th century, a silver dollar known as the Morgan dollar was put into use. This characterizes of an eagle on one side and the face of Miss Liberty on the other side. Due to the weedy looks of the eagle in the coin, it is sometimes referred to as the "buzzard dollar". The production of Morgan dollar coins stopped in 1921, but even now they are worth collecting.
Some people like to trade their coins for others. Hobbyists like themselves may own a certain coin that is needed to fit a specific collection, so they will turn to these fellow coin collectors and offer one of their own unique coins. To trade dollar coins, you will have to have a fairly rare coin yourself. Most coin collectors have many dollar coins and will trade a coin they have a duplicate of, so as not to lose the coin for their collection.
Silver Dollar – A Jewel Among Coins
December 9, 2008
It wasn’t long ago when a silver dollar in your change meant that you’d remove it from your pocket and squirrel it away among your treasures. It’s easy to see why -- silver dollars stand out from ordinary coins that we receive every day in our change. They’re heavier because of their size and silver content and the designs that adorn them are works of art.
Rich in American history and beautiful to behold, silver dollars have long been prized as highly collectible by coin collectors and history buffs alike. Perhaps no other coin is so prized among collectors as the Morgan silver dollar. Designed by George T. Morgan, the Morgan silver dollar is mired in conspiracy.
Morgan became the designer of the coin because of a contest held by Henry P. Linderman, director of the Philadelphia mint. It was later revealed that the contest was staged because Linderman was unhappy with the designs for the dollar by the Chief Engraver. By staging the contest, Linderman was able to help design the dollar himself. The bald eagle and the head of Liberty was actually Linderman’s idea – designed by Morgan.
Know the Grading System for Morgan Dollars
December 4, 2008
The grading system for silver dollars helps you find the Morgan dollar to complete or begin your collection. All coin collectors and dealers use a standardized system to grade Morgan silver dollars.
When minting was low the Morgan dollar is valued highly, but other factors – like its condition – also determine what you’ll pay. Key date coins are especially difficult to find because only a few were minted during a certain time or because there may have been an error during production.
Coins may be graded by numbers, such as 1 through 70, 70 being the best condition possible for a coin and 1 being a damaged coin.
Look at photos of the coin if you’re thinking of buying online. Also take into consideration its rating. But beware that a seller may grade a coin too high because they’re inexperienced or want a higher price for the coin.
A Morgan dollar may be graded low because of the following conditions:
Morgan Silver Dollars – Popular and Beautiful
November 30, 2008
It’s easy to see why Morgan silver dollars are among the most popular with coin collectors – and also why they’re some of the most valued. Their story blends with some of the most tumultuous times in western American history and Morgan silver dollars are some of the most beautiful coins ever minted.
Morgan silver dollars have gained in value over the years and that trend is expected to continue. The Carson City Morgans are highly collectible because the last cache of those minted has all been distributed and because lovers of American west history desire them – not only for their dollar value, but for what they represent.
You can purchase some Morgan dollars for several hundred dollars if they’re in extra fine shape. If the dollar is uncirculated, it can be worth several thousand dollars, depending on which year the coin was minted. The actual value of the Morgan coins depends on the condition they’re in, based on the criteria that the coins be clean and certified by a reputable grading service.
What Makes a Morgan Dollar Rare?
November 18, 2008
Silver contained in a Morgan silver dollar may only be worth a few dollars, but the rarity of the coin and date of its mintage or appearance may make the coin worth several thousand dollars.
Some Morgan dollars are graded DMPL (Deep Mirror Proof Like), designating that their legends and devices appear frosted (or mirrored). The level of a coin’s DMPL is rated from light to dark and are worth much more than their non-reflective counterparts.
Some Morgan silver dollars are more rare and valuable than others because there were very few minted. The 1889 Morgan CC (Carson City) is one of the rarest, with only 350,000 minted. 100,000 1893 Morgan Ss were minted in San Francisco -- and the rarest is the 1895 P (Proof) Morgan worth around $65,000.
Morgan silver dollars are also classified by varieties (VAMs) of dies used in minting them. VAM stands for the research of Van Allen and Mallis who researched Morgans minted from 1878 to 1904, 1921 and those minted from 1921 to 1935. They discovered about 6,000 VAMs.
Silver Dollars – For Collectors or History Lovers
November 13, 2008
United States silver dollars have long been prized by coin collectors, but they also have a background that’s valued information for lovers of American history.
Thomas Jefferson first proposed minting a silver dollar coin in 1785 and when Treasury Secretary, Alexander Hamilton, projected a monetary system for the emerging United States of America, they began producing the coins, including the Flowing Hair silver dollar in 1794.
Silver dollars were minted in varying degrees of silver content until silver became scarce. When the incredible riches of Nevada’s Comstock Lode were discovered in the late 1850s, silver prices plummeted and the Treasury Department was required by Congress to begin producing silver coins. The Trade Dollar was minted in Philadelphia, Pennsylvania specifically to improve trade with the Orient – mainly China.
Why Carson City Morgan Silver Dollars Are Highly Collectible
November 8, 2008
Carson City Morgans (CC Silver Dollars) demand an indomitable place in American history. After massive quantities of silver were discovered in the 1850s in Carson City, Nevada, the town built and maintained a mintage that produced what became known as the CC Morgans.
The Carson City silver dollars look the same as the Morgan dollars, with the face of Liberty and an eagle on the reverse side, but also display the double C mint mark on the reverse side. This fact makes it extremely valuable to collectors.
Millions of Carson City silver dollars were minted during certain years, but in other years only a few thousands were minted. As a result, Carson City silver dollars total less than one per cent of the total number of American silver dollars that were minted before and after them.
Tips for Buying Carson City Morgan Dollars
November 5, 2008
The historical and romantic Carson City Morgan silver dollar is also lovely to look at and a pleasure to hold. If you’re searching for one of these unique coins for your collection – or simply because you love it – there are some facts you should know to avoid falling victim to a fake.
Carson City, Nevada – a true Wild West town -- utilized the silver strike of 1859 to mint CC Morgan dollars. Like other Morgan dollars, the CC Morgans display the face of Liberty on the front and an eagle on its reverse side. Also on the reverse side is the double C (Carson City) mark which sets it apart from other Morgan dollars.
Be sure to consider the following tips before you purchase a CC Morgan silver dollar:
Coin Collecting - Avoid Worthless Silver Coins
October 30, 2008
A worthless silver coin for collecting purposes is any circulated silver coin that is only in fair condition and has value to collectors beyond the value of the silver bullion it contains.
This is an unofficial term used in the United States and Canada. Junk silver is not scrap silver. These coins can still be spent in the US and Canadian markets for the value stamped on the coin. However, coin collectors call them “junk” because they have little numismatic, or trading, value.
The Mercury and Roosevelt dimes, the Washington quarters, and the Franklin and Kennedy half dollars are the most popular US coins collected for junk silver. These coins, minted before 1964, contain 90% silver composition, with 0.7 troy ounces of silver per each dollar of face value. Kennedy half-dollars minted from 1965 to 1970 contain 40% silver composition, so they are collected but are not as popular. The Peace Dollar (minted from 1921 to 1928, then again in 1934 and 1935) is also collected for its silver value, which is high at a little over 90%. However, these are more rare and may have collectible value beyond the value of the silver.
