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Gold And Silver Coin Collecting Article Of The Month

Morgan Silver Dollars - A Staple For Silver Dollar Collectors

By Blake Hygate

First minted in 1874, Morgan silver dollars were produced for 30 years, ending production in 1904. After almost 20 years of not being produced, the US Mint did a production run of 1921 Silver Dollars and thus the coins finally ceased production after 1921, never to be produced again. Oddly enough, and unlike many other silver dollar coins, Morgan silver dollars were not named after a famous politician or businessperson, but was named after the designer of the Morgan Silver Dollar.

Prior to the Morgan Silver Dollar was the Seated Liberty Silver Dollar and Silver trade coins which were used mainly for trade with the orient. Morgan Silver Dollars were made of 0.77344 troy ounce of silver and were produced around the same time as a large silver strike in Nevada. Because the availability of silver was so large, the US government resumed production for one year to produce the now famous 1921 Morgan Silver Dollar.

One interesting story comes to mind regarding the fate of the 1921 Silver Dollars. An old farmer by the name of Lavere Redfield began to accumulate a huge supply of them. He was a savvy investor and lived as though he had nothing. At the time of his death in the 1970's, he left an estate valued at over 100 million dollars. Among his assets were a cache of Morgan's so large that no one had ever come across such a large hoard. It seems that over the years Redfield would visit a bank and buy bags of 1000 Morgan Silver Dollars at one time, driving them home in his old pickup truck. At the time he was able to purchase the coins for only $1 each. Upon his death, a mountain of silver coins were found in his basement, to the tune of 400 bags. 400 bags of coins with each bag containing 1000 coins. Even at face value would have been $400,000, however the coins went to auction and fetched over 7 million dollars!

Since their issue in the 1920's the Morgan coins have been an important part of many coin collections. Among the most valuable of the Morgan Silver Dollars are the coins marked with 'cc', which is an indication that these coins were made at the Carson City facility. In terms of high value, there are 3 years of Morgan's that stand out as being rare: the 1889-CC, the 1893-S and the 1895 Morgan Silver Dollars. Of all Morgan Silver Dollars, these are the most sought after. If you happen to be the owner of one of these coins, you may be pleasantly surprised with the worth of the coin.

About The Author

Blake Hygate is the webmaster of SilverDollarCoinStore.com which helps buyers find the best deals on Morgan Silver Dollars and other US, Canadian and international silver dollars.

More Numismatists News

1840 $1,000 Bank of the United States notes: Any note with the serial number 8894 is a replica that was made in the 1960's for a promotional giveaway in cereal boxes. These replicas are essentially worthless. These replicas are made from yellowish-brown "antiqued" paper that is crisp and brittle to the touch. The genuine $1,000 Bank of the United States notes are printed on thin banknote paper that was originally white or cream colored. One supposes that if a genuine note with the serial number 8894 ever were to show up that it is likely to cause quite a stir among dealers and collectors who have grown weary of answering questions regarding this particular replica.
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On March 10, 1862 the first United States paper money was issued. The denominations were $5, $10, and $20. They became legal tender by Act of March 17, 1862. The inclusion of "In God We Trust" on all currency was required by law in 1955. The national motto first appeared on paper money in 1957 on $1 Silver Certificates, and on all Federal Reserve Notes beginning with Series 1963.
Buy silver dollars for a great investment.

A set of high-magnification hand lenses is an invaluable tool for numismatists. However, magnification of 10� and up is only recommended for spotting signs of counterfeiting. Skip Fazzari offers these tips and more.
Buy US paper money.

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