APMEX Showcase: The 1880-S Morgan Dollar
This is a follow-up article to our showcase of the 1880-S Morgan Silver Dollar MS-68 PCGS, this time offering similar, affordable options. Read that full article here.
The Morgan Silver Dollar is arguably one of the most commonly collected coins in the world, especially in the United States. More than 656,000,000 total Morgan Dollars were produced at five U.S. Mint locations between 1878 and 1904, and again in 1921.
As with any bullion series, there are of course certain years or minting locations that produced a lower-than-average number of coins. Today we will look at the 1880-S Morgan Dollar, which may not seem special at first, with a total mintage of 8,900,000 coins struck, but immediately gains collectible appeal once you start looking at PCGS-certified versions, especially in high grades.
In our first APMEX Showcase piece, we highlighted the MS-68 PCGS version of this coin, which is currently available for nearly $4,800, which may be out of the price range of many Silver collectors. However, if you look for an 1880-S Morgan Dollar just a few points lower on the Sheldon Grading Scale results in a minimal change in condition but a drastic drop in price.
For instance, the 1880-S Morgan Dollar MS-67 PCGS has a population 10x that of the low-population MS-68 example. Thanks to this increased population, the price drops comparatively, currently at a price just 12% of the high-dollar MS-68!
Going one step further down on the grading scale, you will find the MS-66 PCGS Morgan Dollar. Of course, an MS-66 is still extremely high on the 70-point grading scale, especially for a coin that is more than 130 years old.
If you are looking even more of a bargain, while still getting an exception coin, consider the 1880-S Morgan Dollar MS-65 PCGS, with a seemingly high population of 37,625. For a coin of this age and this condition, that is still a low population and still commands wonderful collectible appeal, but at just $140, this coin works in any collection.
As you can see, whether you are a beginning collector or an advanced numismatist, you should not shy away from a product just because of its high cost. There are almost always affordable options that will fill in your collection while you build up to those extremely rare finds!
Check back with us to dig more into our inventory and see what we have up next in our APMEX Showcase.