Coin collecting is the king of hobbies. It is the oldest hobby in the world. There are more than a million coin collectors in the world, bringing together some of the most diverse people in the world. It is a simple enough exercise of patience and some luck to collect as many unique coins as a collector can. If you are a coin collector and would like to own one of the rarest coin collectibles in the United States coin set, then this guide will give you some tips on how to buy a Morgan Silver Dollar Coin.
- Minting. Contrary to popular belief, there are many mints in the United States, all looked after by the U.S. Mint Service under the Treasury Department. In the case of the Morgan Silver Dollar, there are many types of such coins from different mints. When perusing a purchase, check for the small letter on the reverse side between the letters D and O of the word Dollar. If the tiny letter is P from Philadelphia, S for San Francisco, O for New Orleans, D for Denver, and CC for Carson City. The most expensive Morgan Dollar Coins were minted in Carson City as that mint produced the lowest amount of coins and by statistic; most of those coins were melted for their Silver back in the 1970’s. Normal P, S, and O coins are worth along the lines of $1,500 to $2,000 while CC coins are worth far more, around $3000. Be careful with scammers who would make you believe that P coins are expensive. They are, but the asking price should not be more than $2,000.
- Year. Every year from 1878 to 1904 and the year 1921, the US Mint had produced Morgan Silver Dollar coins, all of which were printed on the obverse side. While all Morgan Silver Dollar Coins are expensive, there are three years which are most rare either by time or by demand. These three years include the 1899-CC, the 1893-S, and the 1885 proof coin. The 1885 Proof is the most expensive of all the Morgan Dollars, selling for $100,000 or more per piece! This made the 1885 Proof Morgan Silver Dollar gain the moniker the “King of Morgan Dollars.” If you happen to find these coins at a low price, then it is highly recommended that you buy them as they are very rare. With only 12,000 1885 Proof Morgan Silver Dollars actually minted, and a whole lot more probably lost in time, then that coin is a very rare one.
- Special Coins. There are a number of special coins out there that are also quite expensive. These include Doubled Die coins, having two dies instead of one. One type of these kinds of coins is the 1878-P VAM 44. This type of Special Coin has doubled tail feathers and the numbers 7 and 8 overlapping each other. These coins fetch a very high price.
Of the entire collection American coins out there, arguably the most beautiful and the rarest is the Morgan Silver Dollar Coin. The Morgan Dollar Coin was minted for almost thirty years, designed by its namesake, George T. Morgan. With 24 grams of silver inside the coin, it is valuable not only for its rarity as a collectible but also for its bullion.