The Secrets to Selling Morgan Silver Dollars Like a Coin Dealer (2024)

FAQs

The Secrets to Selling Morgan Silver Dollars Like a Coin Dealer? ›

To sell your silver coins, finding a reputable dealer is essential. Choose a local, in-person precious metals dealer with an excellent industry reputation. These dealers specialize in buying and selling coins, so they know how to assess their value and will give you a high price for your pieces.

To sell your silver coins, finding a reputable dealer is essential. Choose a local, in-person precious metals dealer with an excellent industry reputation. These dealers specialize in buying and selling coins, so they know how to assess their value and will give you a high price for your pieces.

Depending on the condition and scarcity of the coin in question, you can pay anywhere from as little as $10 to as much as $100 and more for a Morgan Silver Dollar. As expected, those coins that have been well-preserved over the years are the ones that will sell for the highest prices.

1893‑S. The rare key-date 1893‑S Morgan is the showpiece most collectors need to complete a collection but is difficult to acquire! This rare 90% silver dollar is considered the most desirable Morgan ever struck at a branch mint.

The value of your Morgan silver dollar will depend entirely on the coin itself. Variations of the coin can range from as little as $10 to over $10,000. The average price of a Morgan silver dollar is around $100 per coin, this is still 100x the face value of the coin so you can see they are desirable and valuable.

After the Flowing Hair dollars, the next most collectable silver dollars are the Morgan Dollars and the Peace Dollars. Morgan Dollars were minted from 1878 to 1904 and then again briefly in 1921. They were designed by George T. Morgan and are highly valued both for their comparative rarity and their beauty.

Invest in Only the Highest Grade Morgan Dollars

The following best investments are the very high grade, MS-65, or better coins. They are pricey compared to MS-60 to MS-63, but their incredible rarity in the age of encapsulated coins makes them a good investment.

Of note, the 1888, 1892, 1893, 1895, 1902 and 1903 are more valuable coins. The most valuable of the San Francisco Morgan silver dollars is the 1893.

Morgan, was the first silver dollar minted after the demonetization of silver set by Congress in the Coinage Act of 1873. Because of its size and silver content, the Morgan Silver Dollar is the most valuable silver coin minted in the United States in the late nineteenth century and early part of the twentieth century.

To calculate the value of a silver dollar, you multiply its fine silver content by the current spot price for silver. A silver dollar contains 0.7735 troy ounces of pure silver, so at the time of writing a silver Dollar would be worth over $17 on metal value alone.

Will a magnet stick to a Morgan Silver Dollar? ›

The normal weight of a Morgan is 26.73 grams, so if yours weighs way more or way less, than it is probably fake. Unless there is a hole or part of the coin is missing, of course. Morgan dollars are not magnetic. Find a good magnet, place it against your Morgan, and if it sticks, then your coin is probably fake.

Very Good-8 (VG8 or VG-8)

The design is clear and significant elements are defined but are flat and lacking in detail. The rim should be full and completely separated from the field around the entire circumference of the coin on both the obverse and the reverse.

The 1921 Morgan Silver Dollar is the most common U.S. silver dollar, with nearly 90 million minted at the Philadelphia, San Francisco and the Denver Mints.

999 silver content). Only the Morgan Dollar was minted in larger quantities, about 650 million circulated for more than 27 years. In comparison, 190 million Peace Dollars were circulated over nine years. For that reason, the Morgan Dollar is the more “collected” of the two types.

Key dates in this series include 1889-CC, 1893-S, and 1895 (Proof only). Other dates (such as 1895-O) are considered condition-rarities (common in low grade but extremely rare in high grade).

Coin Grading Costs

Grading prices vary according to the maximum value per coin. For instance, modern coins that are worth a maximum of $300 will cost from $17 to $22, depending on the company of your choosing. Coins with a maximum value of $10,000 can be graded for $65 to $80 dollars.

According to the NGC Price Guide, as of May 2023, a Susan B Anthony Coin from 1979 in circulated condition is worth between $1.05 and $1.35. However, on the open market 1979 D Silver Dollars in pristine, uncirculated condition sell for as much as $1950.

The coins minted in 2021 are in uncirculated finish and sold for $85 apiece.

Selling to a local dealer is one of the easiest options; it doesn't require any shipping, minimum values, or extra hassle. You get paid up front for everything, hand it over the counter, and you're done.

Good storage devices include hard plastic storage cases and glass or plastic coin tubes. Coin folders can be problematic because they expose your coins to air. However, if you have the original, airtight packaging, you can keep the coin in the packaging and place it in the folder.

What is the rarest key date Morgan dollars? ›

Comments: With a very low survival rate, 1889 is the key date and undisputed King of “CC” Morgans. As a matter of fact, it's considered among the rarest of all Morgan Dollars produced by any mint.

Features of the Common Date Morgan Silver Dollar VG+/RAW

Dates and mint marks our choice, based on availability. As 1921 was the most common year for Morgan Silver Dollar minting, orders for this product are typically fulfilled with coins from that year.

The New Orleans Mint began striking the new silver dollars in 1879. The Denver Mint, established in 1906, struck the coins for only one year, in 1921. The mint marks appearing on the coins are none, representing Philadelphia, "CC" for Carson City, "S" for San Francisco, "O" for New Orleans and "D" for Denver.

Silver dollars are hardy and easy to care for. Although this fish is fairly durable, the aquarist must maintain a very large tank for them. A school or six or more will require an aquarium of 75 gallons or larger.

The value of silver isn't directly linked to the dollar. Therefore, its value wouldn't likely decrease if the dollar crashes.

The U.S. Mint produced silver dollars containing 90% silver until 1935. The most popular and traded dollar coins are Morgan silver dollars, which were minted from 1878 – 1904 and again in 1921, and Peace silver dollars, which were minted from 1921 – 1935.

The 1972 Type 2 Silver Dollar was accidentally struck with a reverse die that was intended for proof coins only. Only 40,000 of these coins are believed to exist today.

Because there were plenty of 1977 silver dollars struck that mintage year, there aren't that many rare varieties of the coin. That said, uncirculated 1977 silver dollars in the higher grades (MS67 and above) are incredibly rare, making them extremely valuable.

The mint mark for Morgan silver dollars is located at the bottom center of the coin below the wreath and slightly above the letters “D” and “O” in “Dollar.” This is true for all Morgan silver dollars, including the coins minted in 1921.

The Magnet Test

"Silver is not noticeably magnetic, and exhibits only weak magnetic effects unlike iron, nickel, cobalt, and the like," says Martin. "If your magnet sticks strongly to the piece, it has a ferromagnetic core and is not silver." Fake silver or silver-plated items are generally made of other metals.

What is the best magnet to test silver? ›

eodymium magnets are very strong and can help to test the authenticity of gold and silver bars, coins, bullion, or jewelry.

SULFUR SPOTS. These dark brown to black spots appear on both copper (including bronze) and silver coins (including silver clad). These are formed, not with contact with carbon, but contact with sulfur from the environment. The sulfur comes from any variety of sources.

The only way for a coin to be classified as uncirculated is if there is no evidence of wear anywhere on the coin. In other words, the luster is bright and complete across the entire surface of the coin.

Weight of Morgan Dollars

The weight of an uncirculated Morgan silver dollar is 26.73 grams. Most replica coins weigh substantially less. We commonly see replica coins that weigh in the 18 to 22 gram range.

Morgan Silver Dollars with mintmark CC, for the Carson City Mint, which closed its doors in 1893. The 1895 “King of Morgan's.” That year, only 12,880 coins were minted. Only 880 of these coins survived after so many were melted, and experts believe only about 500 still remain in existence today.

The 1895 Morgan silver dollar is known as the "King of the Morgan Dollars" because it is the rarest and one of the most valuable coins in the entire Morgan Dollar series.

Earliest specimens minted more than 140 years ago...

A complete set of 28 genuine U.S. Morgan Silver Dollars — one from every year of issue (1878-1921) — weighing in at over 1¾ troy pounds of pure silver.

The rarest and most valuable Peace silver dollar, at least in circulated condition, is the 1928-P or Philadelphia-issued dollar with a mintage of 360,000 coins. Prices can vary anywhere from $150 – $300, depending on the coin's condition. Inspect the reverse side of the coin below the word “One” for a mint mark.

Peace dollars range in price from as low as $35 for a worn coin to as high as tens of thousands of dollars for a high grade uncirculated one, depending on date and mintage. There are 24 coins in a complete Peace dollar date and mint set.

The 2023 issues appear to be limited to the following: 2023-P Morgan dollars mint state (MS) Mintage limit: 275,000. 2023-S Morgan dollars proof (PR) Mintage limit: 400,000. 2023-S Morgan dollars reverse proof* (REV PR) Mintage limit: 250,000.

What is the lowest mintage Morgan Dollar? ›

The key date for the series is the 1893-S Morgan Dollar, which had a mintage of 100,000 coins. This represents the lowest mintage for a circulation strike coin and no significant hoards ever surfaced for this issue.

Depending on the condition and scarcity of the coin in question, you can pay anywhere from as little as $10 to as much as $100 and more for a Morgan Silver Dollar. As expected, those coins that have been well-preserved over the years are the ones that will sell for the highest prices.

In nearly all situations, key date coins in uncirculated condition are worth having professionally graded. This is especially the case if you have multiple coins to submit, as this will help reduce your overall expense per coin when factoring in shipping and insurance expenses.

PCGS is considered the more esteemed grading service overall. Coins graded by PCGS tend to have a higher resale value. This does not mean that NGC is a bad grading company, it is still one of the top coin graders in the world and people will pay more for an NGC slabbed coin than a non-slabbed coin.

The value of a silver dollar depends on several factors, such as its date, mintmark, condition, and any potential errors. ###Morgan and Peace Dollars### If you own any common Morgan or Peace silver dollars that are in worn condition, these are usually worth very close to the current price of an ounce of silver.

Like gold, silver is a valuable precious metal that you can sell for cash when needed. If you own silver coins, bars, or jewelry, selling to a trustworthy dealer can get you a sum of money to put toward a car down payment, pay for a milestone event, or invest in a different precious metal like gold.

Silver coins are considered the easiest to sell, since it's fairly easy to quickly liquidate (i.e., get cash for) coins. For example, American Silver Eagles are the top silver bullion coin in the world, according to Goldsilver.com.

Market analysts currently predict that silver will soon price higher than gold. As consumer confidence increases after the Covid-19 lockdown protocols, silver consumption is expected to be sky high. Right now, the coming months will be the best time to sell your silver to maximize your profit.