MS63 $20 Liberty Double Eagle
1878 MS63 Morgan Silver Dollar
The Morgan silver dollar is arguably the most popular item in American numismatics. These big, beautiful coins are historically intriguing and visually impressive. Holding one in your hands evokes images of the Wild West, old-time saloons, and gambling halls of a bygone era. Indeed, the Morgan dollar owes its existence to Nevada mining interests—and the coin saw its heaviest use in the West. Whereas Americans on the East Coast were more likely to embrace the $1 paper note, Westerners preferred to hold real money in the form of silver dollars.
The Morgan Silver Dollar: A Rare Piece of History
In 1878, the Bland-Allison Act was passed by Congress. In essence, this piece of legislation required the U.S. government to acquire between 2 to 4 million ounces of silver monthly. President Hayes actually vetoed the bill, but Congress pushed it through with huge majorities voting in favor of the legislation. Once the ink was dry on the new act, the U.S. Mint started working on a new silver dollar coin. The task fell to George T. Morgan, a young but talented engraver who was already experimenting with new motifs for America’s silver coins.
The subject matter of Morgan’s silver dollar design wasn’t groundbreaking, but it was superbly executed. Sticking with tradition, Morgan had a female figure of Liberty on the obverse and an outstretched eagle on the reverse. This general theme had existed since the 1790s, but Morgan’s rendition was extraordinarily beautiful. The coin shows exquisite and intricate design detail, especially with regard to Liberty’s flowing hair curls and the eagle’s feathers.
It’s not just the design that makes Morgan dollars beautiful—one cannot ignore their booming luster. Morgan’s design was superbly proportioned and formatted. As a result, most Uncirculated Morgan dollars exhibit outstanding “cartwheel” luster. They have a type of radiant flash the likes of which is rarely seen on any other U.S. coin.
Since the government was mandated to strike Morgan dollars, it spread the production among multiple mints. The Philadelphia, San Francisco, Carson City, and New Orleans Mints were belting out massive quantities of silver dollars, but neither consumers nor businesses wanted many of them.
Nonetheless, Congress passed another act that further increased the government’s silver purchases. The Sherman Silver Purchase Act of 1890 ratcheted monthly silver acquisition up to 4.5 million ounces per month. This time, however, Congress eventually realized its mistake and repealed the act in 1895. For this reason, all 1895 silver dollars are actually quite scarce. In fact, the 1895 Philadelphia issue is an unusual proof-only date worth between $35,000 to $125,000 depending on condition.
Production went back into full swing in 1898. Congress directed the U.S. Mint to convert all of its remaining silver bullion into dollar coins. Consequently, most issues from 1898 through 1904 are relatively common. The U.S. government had an enormous stockpile of silver to work through. Finally, after six years of heavy production, the Mint had exhausted its silver supply, and the Morgan dollar was put on hold.
Amazingly, there would be one more controversial piece of silver legislation in 1918. The Pittman Act forced the federal government to melt over 200 million silver dollars and convert the coins into silver bullion. This metal was sold to Great Britain to help them shore up their currency and combat inflation. Then, incredibly, the same act required the government to buy hundreds of millions of ounces of silver and convert the metal into coinage. The theory was that the U.S. was helping to prop up an ally in World War I while simultaneously supporting domestic mines. In actuality, most historians view the Pittman Act as a colossal waste of taxpayers’ money.
1921 MS63 Morgan Silver Dollar
After enormous production levels in 1921, the Morgan dollar was discontinued. Giant stockpiles of the coin would remain for decades—the surplus was not fully depleted until the 1960s. Since then, however, the Morgan dollar has become an avidly sought collectible. As a testament to the coin’s popularity, consider the Binion Hoard that was discovered and sold in the early 2000s. Ted Binion was a Nevada casino owner who held a large portion of his wealth in silver dollars. The fact that his accumulation of over 100,000 Morgan dollars was scooped up almost immediately is a testament to the coin’s fervent collector demand.
The Binion Hoard was also the last major cache of Morgan dollars to be discovered and distributed. Decades ago, Uncirculated bags of silver dollars would be seen with regularity. Now, it’s difficult to even find an original roll of 20! The available supply of high-grade Morgans has dwindled considerably in recent years. This is especially true for coins graded MS63 or higher. Morgan dollars are large, heavy coins that were usually stored in canvas bags. This resulted in the coins becoming heavily abraded and laden with contact marks. Most Uncirculated Morgans will only grade MS60 to MS62, and they become tougher to find above that range.
MS63 Morgan Dollars at a Steal for Their Rarity
Amazingly, despite their rarity, MS63 Morgan dollars are available for less than $65 in today’s market. This strikes us as outstanding value. Considering their fascinating backstory, undeniable beauty, and broad appeal, MS63 Morgans should trade for substantially more. This is the kind of coin that can be appreciated by a wide audience, including novice collectors. An excellent argument could be made that these coins should be worth $200 or more.
It’s important to mention that in 2011, when silver marched to nearly $50 per ounce, high-grade Morgan dollars spiked in value, too. In just six months, the coin doubled in value thanks to intense interest in silver. Just as pre-1933 vintage gold coins appreciate when the spot price climbs, graded silver dollars do the same when silver rallies. During the 2011 bull market, a $20 jump in the price of silver resulted in MS63 Morgans surging by more than $50 per coin!
For maximum enjoyment and investment upside, we recommend owning a wide variety of MS63 Morgan dates. This is why we’re particularly excited about the present offering. We have secured a small quantity of 20-date MS63 Morgan dollar sets. That is, every set contains 20 different date and mintmark combinations. This is more than just a “pack” of MS63 Morgans—it’s an instant collection!
Perhaps most importantly: each and every set contains one coin dated 1878 and one coin dated 1921. This means you receive both the first year of issue and the last year of issue. These two historically important dates are particularly desirable—and are you guaranteed to receive both. The 1878 has a direct connection to the Bland Allison Act, while the 1921 traces its roots to the Pittman Act. Owning the two “bookends” of the entire Morgan dollar series makes these sets even more noteworthy.
As an added bonus, in addition to receiving 20 different date and mintmark combinations—including the important first and last years of issue—every 20-coin set will include at least one coin from the Philadelphia, New Orleans, and San Francisco Mints. These three facilities struck the lion’s share of Morgans over the decades—and all three will be represented in your collection.
Your Opportunity to Own 20-Date Morgan Silver Dollar Sets
We have just 29 of these MS63 Morgan sets available today. Finding high-grade Morgans is a challenge in and of itself, but assembling 20-date sets is even tougher. Rarely, if ever, have we been able to offer so many vintage coins at such a low price point.
The ability to own 20 historic, high-grade, certified, and storied Morgan dollars at this price is truly remarkable. The fact that each set contains the important first and last years of issue makes these sets even more alluring. In our eyes, this is one of the absolute best values in American numismatics right now. At well under $100 per coin, these Morgans appear vastly undervalued—and hold the potential to grow tremendously.
Each coin is graded MS63 by PCGS or NGC and is selected by our numismatic experts for the utmost quality. In addition, each set will be delivered in a hard, plastic slab box for easy storage and presentation. These coins are more than just a store of value—they’re fantastic conversation pieces and a pleasure to study. That’s why we want to include a convenient way to view and display your collection.
If you’re interested in owning one of these 20-date sets, we encourage you to purchase your coins early. It took many months to assemble these collections, but we expect it’ll take mere days (or hours!) for them to be spoken for. Don’t miss your opportunity to own 20 different MS63 Morgans, including the first and last years of issue, at such an affordable price per coin! To add these incredible 20-date Morgan silver dollar sets to your portfolio today, please call us at 800-831-0007 or email us.
*Prices subject to change based on market fluctuation and product availability. Prices reflected are for cash, check, or bank wire. Free shipping, handling, and insurance are available with the purchase of each 20-date MS63 Morgan silver dollar set. Offer expires Friday, May 4, 2018, or while supplies last.
