Morgan Silver Dollars

Legal Tender - Silver Bullion Coins For the Collector Or Investor

Morgan Silver Dollar — Sat, 20 Dec 2008 00:18:55 +0000

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.

So what is the difference in a bullion gold coin and a bar of bullion? In the early days of bullion trading the bars was popular. People became interested in owning gold so trading volume increased dramatically which sometimes led to problems with bars in general. They were produced by private companies, so at times it was difficult to know the exact weight and purity. This led to confusion and didn't encourage investor participation.

Governments then decided to produce bullion coins. Producing a bullion coin to replace the bar was more desirable because international standards were developed and coins were uniformly produced. This opened the way to buy and sell bullion again. And because large numbers of coins were produced the premium was the same for bullion coins as it was with bullion bars.

Today gold bars are also popular and safe because private manufacturers standardize production and create a polished look which the general public has confidence in.

Legal Tender Silver Bullion Coins for the Collector or Investor

The $1000USD Face 90% Silver Bag: A desired way of owning silver bullion is in the form of $1000USD face value silver coins struck in 1964 or before. They weigh about 54 pounds and are sometimes referred to as "junk" silver bags which is misleading. This derogatory name was developed in the 1970's, and was used to describe a bag of average circulated silver coins that did not contain anything that was rare. These bags contained $1000USD face value so if half dollars were used there would be 2,000 coins, if the bag contained quarters the count would be 4,000 coins, if it contained dimes there would be 10,000 coins, and so on. If you were to melt them they would contain about 715 oz. of pure silver. All silver coins struck in 1964 or earlier are 90% pure, so bags will move up or down with the daily price of silver. For convenience some sources provide bags in two smaller units of $500 face value each, which makes it easier to handle and store.

The private investor should be aware these old silver coins are no longer being produced. That means if demand increases because of rarity the price over their normal silver value could be in play. Premium pricing also develop because survivalists, who want only U.S. silver coins for barter, insist on this form of silver bullion. The premium on 90% silver bags can vary from a negative (trading for less than content) to a positive and price to as much as 30% over their actual silver weight.

The difference between buy and sell is fairly constant and there are investors who buy bags when premiums are cheap or negative and trade them when premiums increase substantially. Keep in mind that dealers are required by law to report the sale of $1000USD face value 90% bags on an I.R.S. Form 1099B. Smaller quantities of 90% bags are not reportable.

The $1000USD Bag Of Silver Dollars: This investment in Silver is not exactly a bullion investment, and it's not a rare coin investment either. Circulated silver dollars struck between 1878 and 1935 carry higher premiums, but they are a prime source of legal tender silver coins because they are so recognizable. The early silver dollars are divided into two price categories. The more expensive being the Morgan dollars struck between 1878 and 1904 and the Peace dollars struck between 1921 and 1935.

The Peace dollar which are less expensive are quoted by the bag. Most of these coins are always in average condition and graded VG (Very Good). A Morgan dollar bag and finer quality coins are at slightly higher prices, so it pays to ask questions before placing an order with your dealer. This option is popular because silver dollar bags represent real, portable wealth, and have for over 100 years.

The 40% Silver Bag: The last silver coin the United States that was made for general circulation was the 40% silver clad 50¢ struck from 1965 through 1969. This is another popular way to own silver bullion in legal tender form. Like circulated 90% pure coins these $1000USD face value bags are traded for content. Because they are 40% pure a bag contains substantially less silver (296 troy oz.) which is generally reflected in a lower selling price.

The investor or collector has a number of advantages with this purchase. First these are real U.S. coins and are legal tender of our nation (U.S.A.). In a fiscal emergency this could be a significant. Second, the bag has a high face value, $1000USD which limits the loss should silver move lower. This is seen in a down market as premiums almost always move higher. And finally, unlike 90% silver bags, a dealer is not required to fill out I.R.S. Form 1099B on the 40% bags when you sell.

The 100 oz. Silver Bar: This is another great way to own bullion silver by imvesting in the 100 troy oz. bar which is .999 fine. Keep in mind that not all bars may be equal. Some 100 oz. bars are better than others, a detail many bullion dealers neglect to mention especially if they are not delivering the very finest available. The two most accepted 100 oz. bars are produced by J.M., and Engelhard. Other 100 oz. bars can trade at a discount so the J.M., or Engelhard are the better value. They don't cost any more to purchase, but will fetch more when you sell them. They weigh 6.8 pounds and will fit into a small safe deposit box. Your dealer will be required to report a sale of 100 oz. bars when you sell 10 or more.

The 1oz. & 10oz. Bar: Equally popular are these .999 fine smaller units. In any case these two so called "generic" rounds or bars are traded worldwide and can be bought or sold in any quantity. They do cost slightly more than 100 oz. bars but are easier to handle. The 1 ounce silver piece is produced in the shape of a coin because they easily store in plastic tubes, and that is where the name 1 oz. silver rounds comes from.

The U.S. Silver Eagle: The U.S. Silver Eagle has been produced by the United States Mint since 1986. It contains 1 oz. of pure silver, and actually represents $1 in legal U.S. currency. The Mint produces these coins each year and their price fluctuates directly with the silver market.

Jude Sutton is the Wylie Texas Community Partner at Cagora.com

http://wylie.cagora.com/overview/intro

You can also visit David Morgan at http://Silver-Investor.com

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Silver Dollar Coins - Prized Collectibles

Morgan Silver Dollar — Sun, 14 Dec 2008 22:36:30 +0000

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 coins can be quite striking. The coins which are made of almost pure silver are more valuable and more attractive than the coins that are made of copper. At various times, the United States Government issues limited edition commemorative silver dollar coins. These coins are and rare and collectors often set aside a few of them to trade or add to their collections.

A coins value increases the older and rarer it is. If you have an extremely rare coin, it does not matter what condition it is in. The condition of a coin will matter more if it is less rare, and the better it looks, the more money it will bring in. A Morgan Dollar that is in Brilliant Uncirculated condition commands a lot of money because it is both a rare coin and in perfect condition.

If you are thinking about starting to collect and trade silver dollar coins, it's best to do in-depth research before doing anything else. After all, the more knowledge you have about coins, the more prudent you will be in buying and trading them.

Collecting silver dollar coins is a popular hobby shared by many. Circulated between the late 19th century and 1921, morgan dollar coins are sought after due to their rarity. The United States issues commemorative coins for limited periods, increasing their value. Many people trade dollar coins in order to get better coins. Older and rarer coins are worth more, also if it has not been in circulation or is in mint condition it will be very valuable. Conducting research into which coins you are thinking about collecting can help you manage your collection more effectively and gain the coins you wish to collect.

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Silver Dollar – A Jewel Among Coins

Morgan Silver Dollar — Tue, 09 Dec 2008 23:00:17 +0000

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.

Controversy arose when it was discovered after the die was cast that the bald eagle on the reverse side of the Morgan dollar had eight tail feathers rather than the seven on an actual bald eagle.

It’s no wonder that the silver dollar is a jewel among coins – with a history as rich as America herself and beauty that’s unrivaled among coins.

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Know the Grading System for Morgan Dollars

Morgan Silver Dollar — Thu, 04 Dec 2008 18:56:55 +0000

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:

Details are worn, but the date is readable.

The words etched on the coin are worn into the edge, but still readable.

Some details of the coin (such as Liberty’s hair) are worn, but others are clear.

A Morgan dollar is rated good to high when the following conditions are met:

The coin is worn, but the main design is prominent.

Some original mint luster is visible on a highly rated coin.

It’s fun to search for a Morgan dollar treasure and you’ll know that you got your money’s worth when you know how they’re graded.

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Morgan Silver Dollars – Popular and Beautiful

Morgan Silver Dollar — Mon, 01 Dec 2008 01:03:25 +0000

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.

Morgan silver dollars are adorned with some of the most beautiful engravings in coinage history, including the 1878 Morgan dollar designed by George T. Morgan. The obverse (front) side features the profile of Lady Liberty and the reverse side displays an eagle, wings outspread, holding arrows and an olive branch.

Many of the Morgan silver dollars were squirreled away by the government in the past, but they’ve been making a comeback in recent years with numismatics and history lovers alike.

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What Makes a Morgan Dollar Rare?

Morgan Silver Dollar — Tue, 18 Nov 2008 21:24:05 +0000

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.

These VAMs made during the minting of the Morgan dollars make them rarer than others. The 1878-P: 7/8 Tail Feathers, VAM-44 is the rarest with the 1879-CC: Clear CC following.

You can look up the value of Morgan silver dollars in The Red Book (A Guide Book of United States Coins). Published every year, the Red Book is used by coin collectors to evaluate a coin’s retail value and lists the value of United States coins in circulation, plus commemorative and other significant coins.

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Silver Dollars – For Collectors or History Lovers

Morgan Silver Dollar — Thu, 13 Nov 2008 21:18:29 +0000

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.

The Morgan silver dollar was designed by George T. Morgan and minted from 1878 until 1904, then ceased because of the huge amount of dollars in circulation and silver bullion again became scarce. Then, in 1921, the Morgan silver dollar was minted again, but only for the year. Silver prices skyrocketed after 1921, and Morgan dollars were melted for their content of silver bullion.

Carson City Morgan dollars were discovered at the Carson City Mint where they were produced in the 1800s. They were ultimately sold by the federal government to coin collectors in the 1970s and are some of the most prized in coin collecting.

The history of silver dollars in America is fascinating and has produced a huge following of collectors.

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Why Carson City Morgan Silver Dollars Are Highly Collectible

Morgan Silver Dollar — Sat, 08 Nov 2008 18:21:54 +0000

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.

All Carson City Morgans are considered very collectible, but among the most valuable of these is the 1885 Morgan CC. During this year, very few of these silver dollars were minted. The Carson City mint was officially closed in 1893.

Meanwhile, the numismatic hobby was growing by leaps and bounds. Then, in the late 1930s a few coin dealers discovered that there were uncirculated Carson City silver dollars worth $5.00 each in Washington D.C.’s Treasury Department. Naturally, the dealers began to take advantage of the opportunity.

New interest in Carson City Morgans began in 1972 when the General Services Administration began to distribute them in mail-bids. This continued until1980, when the entire cache of CC dollars was gone.

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Tips for Buying Carson City Morgan Dollars

Morgan Silver Dollar — Wed, 05 Nov 2008 18:49:32 +0000

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:

Carson City Morgans should be evaluated carefully before purchasing to be sure it isn’t a fake.

Purchase CC Morgans from a reputable dealer. Some online coin auctions are trustworthy, but be sure you do your homework before you buy.

Take into account the CC Morgan’s condition before you purchase it. Even though the coin may be listed as rare, its condition may reduce the value.

Find out how many CC Morgans of the type you’re considering are uncirculated. Sometimes an uncirculated grading doesn’t warrant an increased price.

During some years millions of CC Morgans were minted, while in other years only a few hundred thousand were minted – making some rarer than others.

CC Morgan silver dollars are considered among the most collectible of coins and adding them to your collection should be considered a privilege.

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Coin Collecting - Avoid Worthless Silver Coins

Morgan Silver Dollar — Thu, 30 Oct 2008 17:35:04 +0000

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.

Circulated Canadian coins - dollars, half dollars, dimes and quarters - may also be sought for their silver value. These coins minted before 1966 contained 80% silver. In 1967, they transitioned to 50% silver by minting both 50% and 80% coins, but by 1968, they were all 50%.

While not as common as in the past, many junk silver coins are still in circulation in the United States and Canada. People wishing to collect junk silver can purchase these coins for a small premium over the price of silver at the current time. Especially during periods when the economy is stable, this has become an affordable way to invest in silver at levels below bullion prices. Because these coins are legal tender, they will never fall below their face value, regardless of how low silver may fall. The current values for the coins listed above range from $.90 to around $11 US. The Morgan Dollar and the Peace Dollar have the highest value, and the Mercury and Roosevelt dimes have the lowest.

Junk silver coins have become a popular collectible among survivalist. These individuals have speculated that a disaster or crisis will eventually occur which will render the paper currency worthless and that silver will be the currency of choice because of its inherent value.

Find coin dealers at CoinDealerDepot.com.

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