With Silver Undervalued, Morgan Dollars Are a Steal

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.

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!

Your Opportunity to Morgan Silver Dollar Rolls

This mini hoard of Morgan Dollar rolls is in Brilliant Uncirculated condition. Each roll contains twenty silver Morgan dollars. These coins are more than just a store of value—they’re fantastic conversation pieces and a pleasure to study. Each set contains twenty coins of the same date, all pre-1921, but if you're looking to add variety to your collection, we're guaranteeing 5 different dates when you buy 5 sets or more, or 10 different dates when you buy 10 sets or more.

The ability to own 20 historic and storied Morgan dollars at this price is truly remarkable. At well under $100 per coin, these Morgans appear vastly undervalued—and hold the potential to grow tremendously.

You see, as the bullion market heats up, numismatic coins also see a boost due to their melt value. With gold reaching new all-time highs, it's not long until silver catches up!

Buy one 20-coin set for $1,200
Buy ten 20-coin set for $1,100 each... different dates guaranteed!

The dates that can be found in this hoard include:

• 1881-S
• 1883-O
• 1884-O
• 1885
• 1885-O
• 1886
• 1887
• 1889
• 1896
• 1902-O

Call for availability as we anticipate these to go fast! To add these incredible 20-coin Morgan silver dollar rolls 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 set. Offer expires Friday, March 15, 2024 or while supplies last.