How to Collect Morgan Dollars
Coin collecting is fun, but it is one where strategy is included. Coins come in various sizes, types and collectible value. You want to maximize the value of your collection by applying a good strategy. The Morgan Silver Dollars are widely popular with collectors and investors because of their beauty and history. These collectible coins are good to add to any collection. There are some strategies that will help you collect Morgan Dollars and maximize the value of your collection no matter how small or big.
How to Collect Morgan Dollars
Various mints struck Morgan Silver Dollars between 1878 and 1904, then again in 1921. The varieties of Morgan Silver Dollars are wide and varying, offering collectors several options from which to choose. There are ways to collect Morgan Dollars that will help you maximize your investment with these rare coins. With every collected coin, research should be done to make sure the best possible purchase. Many factors come into play when collecting Silver Dollars such as history,
- First, envision how you want to collect Morgan Silver Dollars. If the goal is to collect as many as you can within a budget, the planning process is simple. If the goal is to maximize the value and buy only the rarest mintage coins by
year, more planning is involved.
- Determine important dates in the series of coins. When you have a historical context to work with, you can decide which date works in your collection. The introduction of the Morgan Silver Dollars was met with positive acclaim. These coins were born of political intrigue combined with the fascination of Silver. Early editions of the Morgan Dollars saw several revisions to its design: "George T. Morgan's design was rushed into production in early 1878 before it was thoroughly tested. As a result, the first few months saw several revisions." (PCGS) Other years offer a different story. The Denver Mint exclusively minted the 1921 Morgan Dollar. Doing research on each year of mintage will help you see the value of the Silver dollar.
- Mint locations can play a role in how you collect. During active circulation for the Morgan Silver Dollars, the Philadelphia, Carson City and San Francisco Mints each produced these coins. The Morgan Dollars would be minted at the Denver Mint in 1921 only. Each mint provided different production quality. This quality is not part and parcel of the value of the coin, but it adds a dimension to how you collect these coins. Some collectors only collect coins minted at the Carson City Mint while others are partial to coins minted at the San Francisco Mint.
- Condition. Collectors have long used the condition of the coin as a base on how to collect their coins. Mint condition is rare and difficult to find, but you will find graded and certified Morgan Dollars at great values. Conditions will range from unrecognizable to excellent without being graded as well. Some strategize their collection by including a mix of all grades and conditions to balance their collection. Others collect Morgan Dollars only in Good or better conditions.
- Find a reputable dealer. This is an important rule of thumb for any collecting. A reputable dealer will have the selections on hand to give you the best chance at purchasing a high-quality coin. At APMEX, there is a large variety of Silver Dollars varying in years and condition, produced at different mints. You can rely on a trusted retailer in APMEX to have the coin you seek.