Sell Silver Morgan Dollar to the Best Buyer in Las Vegas & Henderson, NV
The Morgan dollar was the first standard United States silver dollar coin since the passage of the Coinage Act of 1873. This coin was minted from 1878 to 1904 and in 1921. It was dubbed as the “King of America’s Coins” for its historic and captivating design. The coin was named after George T. Morgan, a famous U.S. Mint engraver. As genuine pieces of history, these coins were official issues of the United States Treasury.
The passage of the Bland-Allison Act or the Grand Bland Plan of 1878 authorized the Morgan dollar coins production. By that time, the U.S. Treasury purchased quantities of silver and put it into circulation as silver dollars. In 1890, the act was repealed by the Sherman Silver Purchase Act, which required the purchase by the National Treasury of 4,500,000 troy ounces of silver each month. The act was then again repealed in 1893.
Sometime in 1898, following the Sherman Silver Purchase Act’s passage, the Congress approved a bill requiring all remaining bullion to be coined into silver dollars. Then, when the silver reserves got depleted in 1904, the U.S. Mint stopped producing Morgan dollars.
Years passed and the Pittman Act was passed in 1918. The act’s main purpose is to officially authorize the melting and recoining of millions of silver dollars. This gave the Morgan dollar one year of production and mintage in 1921. The Peace dollar’s design was changed later on.
In the 1960s, uncirculated Morgan dollars were discovered in the Treasury vaults of the U.S. This incident urged people to purchase large quantities of the coins at face value, especially that those discovered were believed to be very rare at that time. Eventually, the Treasury ceased exchanging silver certificates or paper currency as representative money for silver coins.
These challenges faced and overcome by the Morgan dollar earned itself a historical value that considered it the best of all silver dollar coins, especially in terms of design and length of the production of more than 40 years.
Design of Silver Morgan Dollar
The design of the Silver Morgan dollar stemmed from the instruction of Linderman to Morgan and Barber to design a coin that depicts Lady Liberty on the obverse and an eagle on the reverse. Instead of depicting a typical Greek profile, Morgan decided to feature an American woman. His friend named Anna Willes Williams volunteered to be the model portrait of the coin.
When the preliminary steps of designing were finished, George Morgan presented the coin’s perfect depictions through its subtle details. Notably, the obverse design of the coin depicts a portrait representing Liberty- a persona representing a goddess on the coin. Her cap was adorned with two stalks of wheat and two cottons blossoms to signify America’s agricultural heritage.
On the other side of the coin, it features a design of an eagle with eight tail feathers. The eagle holds an olive branch to represent and symbolize peace. The eagle was atop a bundle of arrows, a symbol of war signifying that although the U.S. is a peace-loving nation, she will always be at the safeguard and defense of her people.
Value of Silver Morgan Dollar
The value of a Morgan dollar is highly dependent on some equally important factors. Understanding all of these can lead you to get the right price for your silver Morgan dollar coins.
- Mintmark – A silver Morgan dollar coin typically includes date and mintmark variety. Remember that five mints were involved in the production of the said coin from 1878 to 1921. The mintmarks indicate their production and are valued by demand on supplies and condition of the coins. This factor is believed to be a key to getting high silver dollar values.
The 1921 Morgan Dollar was minted in Denver with no mint marks. It contains 90% silver and 10% copper. Its designer and engraver was George Morgan, to whom the coin was named after. The coin dimensions are 38.1 mm (1.5 in) in diameter and has a thickness of 2.4 mm (0.09 in). As a fairly small item, it can only carry a minute amount of silver. However, using its content as basis for its value is more favorable than considering its face value of only $1.
Also, the Morgan Dollar was minted in Philadelphia with no mint mark. It featured the Liberty wearing a Phrygian cap on the coin’s obverse. The coin’s reverse, on the other hand, depicts an eagle clutching 3 arrows and an olive branch. The coin has a mintage of 378,792, which is fairly small in comparison to the 1921 version’s mintage of 44,690,000.
- Condition – The process of inspecting and evaluating the coin’s overall condition is called grading. It definitely has a large impact on the value of a Morgan silver dollar. Closely observing your coin’s obverse and reverse designs along with their subtle details using a magnifying glass can give you a picture of your coin’s condition. Morgan dollar coins that have been well-preserved for a long time will definitely get the highest prices.
- Special Qualities – Although almost all coins are evaluated based on their silver or metal content value, other buyers look for their collector appeal and a premium value. Unique qualities like aesthetics and eye appeal of the surface and overall look of the coin enhance a silver Morgan dollar coin’s value.
- Spot Price – When buyers look at a potential purchase, they consider the coin’s metal content more than any other factor. They will give a price that they think would match the silver content of your coin. These prices will vary per ounce depending on the spot price of silver on the day that the coin is being sold. You can monitor the spot of silver through the following link so you can keep track of the true value of your Silver Morgan Dollars: https://www.kitco.com/charts/livesilver.html
You can actually get good cash when you sell your Silver Morgan Dollar, especially if you have a few or more. The key is to sell your Morgan dollars when the price of silver goes up. That means that you need to keep yourself posted on the daily trends regarding the spot price of silver, especially that it regularly changes.
Where to Sell Silver Morgan Dollars
Nevada Coin Mart is the perfect place for you to sell your Morgan dollar coins. We are the #1 coin buyer in Las Vegas and Henderson, Nevada. We have been buying precious items from the public for over 25 years and have closed about a million impressive deals so far. We provide customers with accurate and expert analysis on their items to have an idea of its metal content that is free of charge using a state-of-the-art spectrometer.
We pay the most cash for silver bullion items and provide the most impressive customer service among all buying-establishments and other pawn shops in Las Vegas, NV. Using a state-of-the-art x-ray spectrometer, we ensure to give the fair price of your top-dollar items. We are open 365 times a year, from 9 am to 6 pm. Visit us at Nevada Coin Mart® 4065 S. Jones Blvd Las Vegas, NV 89103, or call us up at 702-998-4000.