Facts For Beginner Collectors: Morgan Silver Dollars
As a beginner coin collector, it is important to focus on education. You want to learn all that you can about various coins so that you know when you come across a valuable one and so that you can make sure you don't overpay when purchasing coins from various vendors. One coin that is really interesting, especially for newer collectors, is the Morgan silver dollar. Here are a few important facts to know about these dollars.
They were minted twice.
The Morgan silver dollar is one of very few coins that were minted, taken off production, and then minted again! The first round of coins was minted in the late 1800s, continuing until 1904. More than a decade later, the U.S. minted more Morgan silver dollars in 1921. Although you might assume the older dollars are worth more, the 1921 dollars are often more valuable because there are so few of them. The U.S. mint replaced the Morgan silver dollar with the Peace dollar partway through 1921, so the coin was not back in mint for even a year.
It does not show an image of George T. Morgan.
Usually when a coin is named after someone, it is because the coin has an image of that person on it. This is not the case with the Morgan silver dollar. The coin has Lady Liberty on one side and the classic U.S. eagle on the other side. It is simply named after its designer, George T. Morgan. At the time he designed the coin in 1873, he was working for the U.S. Mint as an assistant engraver.
It was minted at five different mints.
When you examine a Morgan silver dollar to purchase, you should check for the mint mark. It is located on the side of the coin with the eagle, just under the wreath. This coin was minted at the mints in Philadelphia, Carson City, Denver, San Francisco, and New Orleans. Different years from different mints have different values.
It is 90% silver.
This iteration of the silver dollar is heavier than some newer iterations. The coins are made from 90% silver and 10% copper, and that's why they weigh so much. More modern silver dollars contain less silver and more copper, generally.
Now that you know a little more about Morgan silver dollars, head out there and find a few to add to your collection! They are really fun coins.