Silver Morgan Dollar Value & Where to Sell Them in Las Vegas, NV (Buyer)
Morgan dollar, minted from 1878 to 1904 and in 1921, was the first standard United States silver dollar coin since the passage of the Coinage Act of 1873. The coin is named after Goerge T. Morgan, a famous U.S. Mint engraver. This dollar was authorized for production 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 Value
The value of a Morgan dollar coin cannot be easily determined until it has reached an expert’s hands. Several factors influence the value of the coin, particularly its grade or condition. Morgan dollar coins that have been well-preserved for a long time will definitely get the highest prices. The value of these coins rely mostly on the amount of silver and copper that it contains. When buyers look at a potential purchase, they pretty take the coin’s metal content into consideration more than any other factor. They will give a price that they think would match the silver content of your coin. These prices will vary per ounce depending of the spot price of silver on the day that the coin is being sold. 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
How to Determine the Value of 1921 and 1893 Silver Morgan Dollar
The 1921 Morgan Dollar was minted in Philadelphia with no mint marks. It contains 90% silver and 10% copper. Its designer and engraver was George Morgan, to whom the coin was named after. 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.
The Morgan Dollar was also minted in Philadelphia with no mint mark. It was named after its engraver and designer, George Morgan, who featured Liberty wearing a Phrygian cap on the coin’s obverse. The coin’s reverse, on the other hand, depicts an eagle clutching 3 arrows and and olive branch. The coin has a mintage of 378,792, which is fairly small in comparison to the 1921 version’s mintage of 44,690,000.
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.
Who Buys Silver Morgan Dollars in Las Vegas, NV
Nevada Coin Mart is home to experts on coins and various bullion items. 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, NV.
After a series of repeal of said laws on silver coins production, several other laws like the Sherman Silver Purchase Act and the Pittman Act were approved, requiring the melting and recoining of millions of silver dollars. This then gave the Morgan dollar one year in 1921 to resume its mintage. However, later that year, the design of the Morgan dollar was replaced 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. If you will closely examine the examine, a mint mark appears on the reverse above the “o” in “Dollar.” It weighs 26.73 grams and is made from .900 silver.