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This item has been successfully added: Close. Go to Cart. Shop All. Suggested keywords menu. Read more Join Our Email List. Respond to an Ad. The greatest change that standardized third-party grading brought to numismatics was the possibility of using coins as an investment vehicle. Collectors and investors could finally be assured that the slabbed coins they purchased were not only completely genuine, but also conformed to their stated grade.
Morgan silver dollars, with their impressive size, iconic design and rich historical context, were perfectly matched to the groundbreaking development of third-party certification.
But a funny thing happened on the way to investment nirvana. As you can see from the graph above, high grade Morgan silver dollars are more or less the same price in as they were in , and Now, there are two ways to interpret this situation. One is that certified Morgan silver dollars are terrible investments and no one should ever buy them in the hopes of making money.
I believe this analysis is shallow and excessively facile. Instead, I subscribe to another theory - that Morgan silver dollars, along with most slabbed U.
This bubble hangover was also compounded by the general underperformance of tangible assets during that period against a backdrop of distracting stock market bubbles. Making money in coins works much the same way that it does in any other asset class - buy low and sell high. And it is difficult to argue that prices for mint-state certified Morgan Silver Dollars aren't ridiculously low right now.
In fact, the only other assets I can think of that currently trade for the same prices they did 30 years ago are all fellow s bubble refugees - silver bullion, Japanese stocks and white diamonds. Slabbed Morgan silver dollars are sitting in very exclusive company. These are exceptionally low prices for such iconic coins in excellent states of preservation.
Better yet, the prices are low enough that almost anybody can afford to invest. Let's talk for a moment about coin grading. MS-1 represents an almost worn-smooth slug, with little detail remaining, while MS is a theoretically perfect coin, with no wear or blemishes of any kind, even under magnification. Because most coins sent for third-party certification are higher grade specimens, the uncirculated grades - MS to MS - will be our primary focus.
Due to the fact that many Morgan silver dollars sat in canvas bags in vaults for most of their lives, there are a relatively high number of uncirculated specimens in existence. It is estimated that there may be as many as 50 million mint state Morgan silver dollars still around excluding the high population date.
This might seem like a massive number, but there are some mitigating factors. First, if every one of the million households in the United States decided they wanted to own a single uncirculated Morgan silver dollar, there wouldn't even be enough coins for half of them. And this ignores the possibility that overseas coin collectors or investors might want to own a tangible piece of the American Old West.
As you can see, 50 million coins don't go nearly as far as you might think. Second, although there are many surviving mint-state Morgan silver dollars, most of them are in lower MS to MS condition. The silver dollars in these bags jingled and rattled against each other endlessly, leaving them heavily marked. While technically uncirculated, MS to MS Morgan silver dollars are, with few exceptions, ugly coins. They may suffer from distracting bag marks, unattractive hairlines or obvious scuffs and rim nicks.
MS to MS uncirculated coins generally lack eye appeal. And, as we will see, eye appeal is one of the most important attributes of an investment quality coin. Once we step up to MS coins, the situation changes dramatically. Suddenly we are presented with a coin that may still possess much of its original mint luster or have pleasing toning. It will still have visible marks, but they will not be nearly as visually disagreeable as those found on MS to MS specimens. MS certified Morgan silver dollars can be beautiful, desirable coins.
So whenever the delay has been lifted, a wise collector will be ready to either make their purchases, purchase them in the secondary market or ignore the fuss and fanfare altogether. Collecting these coins and seeing the 19th century coins lying next to these 21st century coins gives you a sense of stewardship of George T.
I am a Morgan collector, and I have essentially a complete set of Morgan dollars Had they been minted to the same specs as the original Morgans I just consider these special mint issued commems. If you want them, good luck! So you have a complete set of Morgan dollars , , went to all that trouble - Now refuse to get the 5 new Morgans? Doesn't make much sense as you now do not have a complete set.
The history of the Morgan Dollar PeaceDollars… not so much is somewhat diluted by this new issue. Why not come up with a truly unique coin like a silver double Eagle…. One for the reverse of each coin …. Or maybe a two headed coin using the obverse of each coin. These would be unique unto themselves… mark the occasion and not just copy these historically significant issues.
There is too much knocking off already. I hate to venture. Jim W. Press Release. Coin Dealers. Currency Dealers. World Coins. Ancient Coins. Supplies Dealers. Our law firm collects nothing unless we recover on our client's behalf.
Please contact us today for a FREE, no obligation, confidential consultation with a qualified policyholder attorney. Toll-Free: Morgan Dollars have become very popular as an investment vehicle for coin collectors because they cost a reasonable amount of money to buy, have performed very well in the past as an investment, and are beautiful to behold.
But like any investment, you must do your homework first if you expect to come out ahead over dealer profits, inflation, rare coin appreciation in general, and knowing which specimens to buy in particular, to ensure that you don't take a loss inctead. Morgan Dollars in General The first thing you need to keep in mind about Morgan Dollars is that specimens that grade below AU are, as a rule, only worth their silver bullion value.
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