The Morgan silver dollar has characteristics that make it ideal for new collectors. Coin collecting is a complex mix of a hobby, an investment and, quite often, a passion. It is also a very convenient way to own wealth, in that a very small coin can be the equivalent of a large amount of money. When one begins to collect, however, maintaining one’s enthusiasm is obviously important. This means that one is better off trying to find a coin that is more or less a “sure thing” than they are being very speculative about their investments.
The Morgan dollar has consistently been a favorite of collectors. In fact, it is the most popular coin among those who collect. The advantages of this coin are myriad. First, these coins are struck of bullion, which means that the value of their materials will most likely always exceed their face value. In the case of silver, these coins generally have 15 to 20 times their bullion value in current markets. Their materials value is far exceeded, however, by the historical value of the coins and by the value added due to their being rare coins.
These coins have an historical connection to the US economy that makes them particularly interesting. They are intrinsically connected to the discovery of the Comstock Lode. In fact, that discovery is the reason they came into existence. These coins were struck as a means of stabilizing the markets after the very large amount of silver in the Comstock Lode became available. An act of Congress brought these coins into existence and they were produced from 1878-1904. They were revived in 1921, but were only produced for the span of that year. This connection to American history makes them very popular with collectors.
There are rare examples of Morgan silver dollars, examples that have flaws which were repeated over a minting and other distinguishing characteristics that make them valuable with collectors, as well. The coins were made at several different mints, which makes them more diverse among their number. Today, there is an amount of these dollars in circulation that makes them rare, but not so rare that one will need to pay an enormous sum to purchase them. For collectors just wanting to make their first purchase, this makes them ideal. The fact that they have maintained value makes them more attractive.
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