If you’re looking for a fun hobby that could help you earn some money, you might consider collecting precious metal coins. If you do, it’s only a matter of time before you hear fellow collectors talk about the Morgan silver dollar. Named after its designer, George T. Morgan, the Morgan silver dollar is one of the most famous coins around. Read on to learn more about it.
It Has a Long History
The history of Morgan silver dollar goes back to 1878, when the Bland-Allison Act drastically increased the production of silver coins. The law required the federal government to buy between two and four million dollars’ worth of silver each month and turn it into coinage—specifically the Morgan silver dollar. The U.S. Mint made way too many of these coins, and hundreds of millions were melted down in 1918.
It’s Very Popular
For decades, the Morgan silver dollar has been one of the most popular silver coins in the U.S. and the world. This elegant coin has a profile portrait of Lady Liberty on one side, and an eagle on the other. When collectors acquire a Morgan silver dollar, they acquire a piece of the Wild West—stagecoaches, gambling parlors, and all. Collectors are more excited about the Morgan silver dollar than they are about $20 gold pieces, commemorative coins, and other precious metal coins.
It’s a Virtual Price Barometer
Collectors like the Morgan silver dollar not just because of its beauty and history, but because its value often reflects the value of other coins. If you’re interested in collecting coins, the Morgan silver dollar is a great coin to start with. As with any investment, purchasing Morgan silver dollars comes with some risk—but with some luck, you could make a handsome long-term profit.
California Numismatic Investments is happy to buy and sell Morgan silver dollars. If you’d like to learn more about the history of this coin, or ask about other gold or silver coins, call us at (800) 225-7531. Our precious metal experts are always standing by to help you make sound investments.