Morgan dollars are the most popular collectable coin in the United States. These coins were minted for economic reasons, like all coinage, but for very different reasons than most coins are minted, at the same time. Instead of providing a convenient way to carry wealth, these coins were conceived as a means of stabilizing the market value of silver. These coins have a fineness of .900 and have sometimes been melted down for their bullion when the market for silver hit peaks. Their value to collectors however can be extraordinary and much higher than the value of the materials.
The shine of the metal is one of the principal appeals of coinage, and the deep mirror proof like Morgan dollars are among the most prized by collectors. Some coins are produced in a special way that creates an incredibly mirrored surface. Frosting is another effect that minters can add to the coin. Both of these are found on deep mirror proof like Morgan dollars. These coins generally trace their origins back to the San Francisco mint prior to the year 1883. Among collectors, these examples of Morgan dollar designs are among the most prized and highly valued.
The rarity of a coin determines its value to a great extent. The least common types of the Morgan dollar are those of the 1893 Denver series, the 1895 proof series and the 1889 Carson City Mint series. Not many of these coins were made to begin with and there are very few available on the market at any given time. The most valuable of these coins, the 1895 proof, commands a six-figure price. A good coin dealer is imperative with rare coins. Some coins can be counterfeited by removing distinguishing marks from other, less-valuable coins.
These coins have all the characteristics that make a valuable collector’s item. The coins have diverse origins, with some of them being much rarer than others. They also have a compelling genesis in that they are tied to one of the most significant silver strikes in history. The coins also carry one of the negative hallmarks of valuable coins in that there is motivation for counterfeiters to use them as vehicles for crime. A good coin dealer and a certified coin are the best insurance against purchasing a coin for far more than it is worth. It’s also the best way to get a good investment.