Morgan coins are among the most prized possessions of a coin collector. The Morgan silver dollar may be one of the most sought after collection of coins amidst the serious coin collector. A completed set of Morgan’s silver dollars is priceless in a mint state condition. The average collector cannot afford this set in anything above fine to about uncirculated grades, above that they can be very pricey.
Example the 1893 S with a mintage of only 100,000 can be worth over 8,000.00 US in just VF-20 condition (very Fine) to an astonishing price of 375,000.00 US in Mint State 65 condition.
The Morgan series ran from 1878 to 1904 they were again minted for less than one year in 1921. No US silver dollar was minted from 1905 to 1920 due to a lack of silver bullion. The coin was made at five different US mints. The most prized ones come for the Carson City mint or (“CC”). The coin is made of .900% fine silver and weighs 412 1/2 grams. There were as many as 6000 different varieties of this coin but all had the face of lady liberty on the front and the US eagle on the back.
Probably the three rarest of the whole collection are the 1889CC (valued at over 400,000.00 US in MS 65), 1893S (over 375,000.00 US MS65), and the 1895 proof (over 120,000 in proof 68). The proof coins although the prettiest do not bring as much as a mint sate coin does.
One of the most interesting things about the Morgan Dollar coin is when they were in circulation back in the 1800’s people did not like them it wasn’t until the 1960’s or 70’s that they became a hot item for collectors. From 1960 till about 1972, you could actually buy one from the US government at face value, in exchange for a silver certificate one dollar bill. The government had so many stock piled that they wanted to get rid of. Around 1972, that stock pile dwindled down to almost nothing.