Sell Morgan Silver Dollar in Las Vegas | Silver Morgan Dollar Value
The Morgan dollar was the first standard silver coin in the United States since the passage of the Coinage Act of 1873. The US Mint produced them from 1878 through 1904, with special productions in 1921. Makers of the Morgan dollar named it after the US Mint engraver, George T. Morgan. The government authorized the production of Morgan dollars through the Bland-Allison Act or the Grand Bland Plan of 1878. It is an act that requires the U.S. Treasury to purchase quantities of silver and put it into circulation as silver dollars. If you wish to sell and get the best price for your Silver Morgan Dollar, the first step is to understand where its value comes from.
Price of Silver Morgan Dollar
One cannot determine the value of silver Morgan dollars. You need to bring it to coin experts who know its history and composition. Several factors influence the value of the coin, particularly its grade or condition. Obviously, people will value well-preserved silver Morgan dollars more than others. Of course, as a basis, the silver content also contributes to the price of silver Morgan dollars. These prices vary per ounce depending of the spot price of silver on the day you sell your coin. 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
Morgan Silver Dollar Price (1921)
The 1921 Morgan Dollar was minted in Philadelphia with no mint marks. It contains 90% silver and 10% copper. George T. Morgan of the US Mint designed and engraved these coins. Its dimensions are 38.1 mm (1.5 in) in diameter and has a thickness of 2.4 mm (0.09 in). As a fairly small item, it can only carry a minute amount of silver. However, using its content as basis for its value is more favorable than considering its face value of only $1.
Sell Silver Morgan Dollars
Albeit small, you can actually get good cash when you sell your Silver Morgan Dollar, especially if you have a few or more. The key is to sell your Morgan dollars when the price of silver goes up. This way, you can earn more than the average amount of money for your bullion coin. Just make sure to sell your Silver Morgan Dollars at reputable establishments like Nevada Coin Mart who will not risk their good image by offering you a horrible deal.
Where to Sell Morgan Silver Dollars
Nevada Coin Mart is home to experts on coins like peace dollars and even gold bullion. We have been buying precious items from the public for over 25 years and have closed about a million impressive deals so far. We provide customers with accurate and expert analysis on their items so they can have an idea on its metal content – free of charge. Our commitment to acquiring bullion from individuals, along with our friendly and accommodating customer service, truly makes us the best buyer of Morgan Silver Dollar in Las Vegas, Nevada.
After a series of repeal of laws on silver coins production, the government approved several other laws like the Sherman Silver Purchase Act and the Pittman Act. These Acts required the melting and recoining of millions of silver dollars, which allowed the US Mint to manufacture Morgan dollars again for one year in 1921. Later that year, they replaced design of the Morgan dollar with the Peace dollar.
Sometime in the 1960s, a large quantity of uncirculated Morgan dollars was discovered in the Treasury vaults. Then, people started purchasing large quantities of these pieces at face value. Eventually, the Treasury removed them from circulation and ceased the exchange of silver certificates for silver coins.
These challenges faced and overcame by the Morgan dollar earned itself a historical value that considered it the best of all silver dollar coins, especially in terms of design and length of the production of more than 40 years.
The obverse design of the coin depicts a portrait representing the Liberty. It also features a reverse design of an eagle with eight tail feathers. Meanwhile, a mint mark is on the reverse of the coins, above the “o” in “Dollar.” It weighs 26.73 grams and is contains .900 silver.