Where to Sell Silver Morgan Dollar | Morgan Dollar Value – Las Vegas, NV
The Morgan dollar was the first silver dollar coin of the United States since the Coinage Act of 1873. The coin was first put into circulation from 1878 until 1904, in 1921, and lastly, in 2021. As a result, the Morgan dollar is quite popular amongst coin collectors and numismatists. Read below to learn more about where to sell silver Morgan dollar coins and Morgan dollar values.
Morgan Silver Dollar Value
If you plan to sell your Morgan silver dollar, you would want to know how it is worth. If you bring your coin to Nevada Coin Mart, we will evaluate and analyze your coin for free. Below are some of the factors we look at when evaluating your coin’s value.
- Mintmark – A silver Morgan dollar coin typically includes date and mintmark variety. Remember that five mints took part in the production of the said coin from 1878 to 1921. The mintmarks indicate their production. Buyers also value these mintmarks, as they can also indicate the demand for supplies of the coins. This factor is key to getting high silver dollar values.
- Condition – The process of inspecting and evaluating the coin’s overall condition is called grading. It has a large impact on the value of a Morgan silver dollar. Closely observing your coin’s obverse and reverse designs and 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 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 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 get good cash when you sell your Silver Morgan Dollar, especially if you have a few. 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 since 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. 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.
Brief History
There have been many silver coins before the Morgan dollar. This was when governments could bring silver lots to mints and have them strike the silver into coins. Because of this, mints and bullion producers can just mint silver into dollars. Thus, swamping the system with an excessive supply of coins resulting in inflation. Hence, Congress passed the Coinage Act of 1873, abolishing the right of silver bullion holders to mint their own legal tender silver coins.
The law effectively paved the way for the minting of the Morgan dollar from 1878 until 1904 as the new silver coin used as legal tender in the United States. The Morgan dollar is made from 90% silver and 10% and was minted in five U.S. mints in Carson City, Denver, New Orleans, Philadelphia, and San Francisco. In the early 1900s, the supply of silver started to decline, resulting in the termination of silver coin production. Because of the decline in the silver supply, the Morgan dollar production stopped in 1904. However, it was minted again in 1921 because of the Pittman Act in 1918, which authorized an estimated 270 million Morgan silver dollars to melt down.
The U.S. Mint issued the Morgan dollar again in 2021 as an uncirculated silver coin. This new coin is 99.9% silver which will surely be a collector favorite.
Design
The United States Mint Assistant Engraver George T. Morgan designed the iconic Morgan dollar. The coin depicted the country’s late 19th century westward growth and industrial growth.
The coin’s obverse side features Lady Liberty’s profile with her head adorned with a cap, flora, and a crown. The words “LIBERTY” are on the top of her head. At the same time, the words “E PLURIBUS UNUM,” 13 stars, and the date of issuance encircle here.
While the coin’s reverse side shows an eagle with outstretched wings clasping an olive branch on its right talon, arrows on its left talon, and a wreath below it. The words “UNITED STATES OF AMERICA,” “IN GOD WE TRUST,” and “ONE DOLLAR” are also on the reverse side.