Absolutely! Old silver dollars are worth at least a little over the spot value of silver. When you are thinking about buying or selling a silver dollar, look for the following attributes to get an idea of how much it is worth:
The rarity of any particular silver dollar is a main indicator how much it will be worth. A coin's date is important, although it is not the same thing as rarity. For example, silver dollars struck in 1948 and 1949 have very different values, even when they're in about the same condition.
There were just under 19,000 coins struck at the mint in 1948, while almost 700,000 coins were struck at the mint in 1949—the beautifully designed "Matthew" silver dollar. As you might guess, the 1948 silver dollar is worth substantially more than the 1949 coin since it is more rare.
The condition, or grade, of a silver dollar is another important indicator of value. The condition refers to the amount of wear a coin has endured. The better the condition, the greater the value. For example, an uncirculated silver dollar is going to fetch more than the same silver dollar of the same year in poorer condition.
The history of a silver dollar can make it more sought-after by collectors, which inherently makes it more valuable. A perfect example of this is a silver dollar known as "The King of American Coins", which sold for nearly $3.9 million at auction. The coin was dated 1804 even though it was made in 1834 or 1835 on behest of President Andrew Jackson.
The appreciation of a silver dollar depends on demand for the numismatic and intrinsic values of the coin. Common silver dollars will fluctuate in value, depending on the spot price of silver. This is the intrinsic value of silver dollars or any coin struck of a precious metal—how much is the metal itself worth? The numismatic value of a silver dollar is what attracts collectors and dealers. The numismatic value, which is the primary factor for a coin's appreciation, is the rarity, condition, and history of a coin. Rare, or Key Date coins, tend to hold or increase in value over time. If you come across a silver dollar that is widely sought-after by collectors, it's wise to snatch it up if the price is fair.
Yes, the condition of a silver dollar or other coin plays a very important role in assessing a coin's value. An original coin that is sharply struck and retained its beautiful mint luster will bring more than a worn or circulated coin. Coins that have been cleaned or polished are usually worth less because the surface is no longer original.
Characteristics relating to the condition of a coin include sharpness of strike, beauty of design, and any damage, such as dents, corrosion, wear, and scratches. So, the rule of thumb regarding a coin's condition is largely eye appeal. Attractive coins have a higher demand, thus, a higher value and appreciation.
WHAT TO LOOK FOR WHEN BUYING A SILVER DOLLAR?
October 13, 2016
Collecting silver dollars is a fun pastime. Building a collection is easy because silver dollars are abundant, and many coin collectors specialize in these large, beautifully-designed coins. They come in a wide range of prices to fit any budget. From common dates under $20 to rare examples that fetch tens of thousands there are coins available to collectors at every price point.
When choosing coins for your collection, find a series you love and focus on the highest grade coins you can afford. Silver dollars have been produced in the U.S. since our nation’s founding. Early examples are somewhat rare and expensive. Many collectors focus on the Morgan and Peace dollar series as these are more common with many affordable dates in each series.
When selecting your coins, look at the grade or condition, the mintage for each date, and the coins “eye” appeal.
September 22nd, 2016
Finding The Right Silver Dollar For Your Collection
The silver dollar has been around since the birth of America. The design has changed throughout history. Today collectors treasure the coins for their large size and beautiful design elements.
The best way to collect silver dollars is to gain some basic knowledge of the series you are interested in. For many collectors, the Morgan silver dollar with its many varieties, mint marks and dates is a great choice. Choosing the right silver dollar for your collection comes down to some basic criteria. Condition, date and where the coin was minted play a large role in terms of availability and affordability.
Prices can vary widely with particularly rare, or pristine examples running into the thousands of dollars. The great thing about Morgan dollars is that there are coins in every grade and price point available so building a collection is possible even with a small budget!
July 6, 2016
If You’re New To Collecting, Consider the Morgan Silver Dollar
If you’re new to the hobby, collecting Morgan silver dollars is a great place to start.. Many dates are readily available, as third-party certified coins (PCGS, NGC) or as raw “unslabbed” examples.
Because of their large size, striking design, affordability and availability, many collectors are drawn to Morgans, so there is an active market. Morgan silver dollars were minted from 1878 – 1921 in Philadelphia (no mark), Denver (D), San Francisco (S), New Orleans (O), and Carson City (CC). You can determine where a coin was minted by the mintmark located under the eagles tail feathers on the reverse.
Collectors often build date sets, collecting one specimen of each year. In the lower grades, coins are readily available and very reasonably priced. As you get to the higher grades, Morgan dollars can cost thousands of dollars depending on the rarity, particular date and condition.
The best way to get started building your collection is to find a reputable dealer to work with. They can help to educate you on grading coins, and many dealers offer a “wish list” service, where you can give them a list of the coins/dates for which you are searching.
June 20, 2016
Building A Silver Dollar Collection
If you’re just starting to collect coins, consider the silver dollar. Minted since the birth of our nation, this coin consists of many different series including:
• Flowing Hair (1794, 95)
• Draped Bust (1795 – 1804)
• Seated Liberty (1840 – 1873)
• Trade Dollars, (1873 – 1878
• Morgan (1878 – 1904, 1921
• Peace Dollars (1921 – 1935)
Their large size and beautiful detail make silver dollars one of the most popularly collected coins, and many collectors start with silver dollars. They remain readily available despite their popularity.
Basic knowledge of the various series is one of the keys to building a silver dollar collection. Learn the basics of grading each type. Condition, date, mint mark, and rarity play a large role in the availability and price of the various series. As a general rule, the earlier series (Flowing Hair, Draped Bust) are much more rare and usually priced out of the reach of the novice silver dollar collector.
Prices can vary widely with some rare or extremely pristine examples costing thousands of dollars. A smart way to begin to build your collection is through the purchase of third party graded coins.
April 13, 2016
Coin collecting is a love for art and history with the potential for your investment to grow over time. The silver dollar is a popular collector’s coin because of its large size, beautiful design and silver content.
Whether you collect Trade, Morgan, or Peace dollars, there are several characteristics to look for when choosing coins to add to your collection.
• Grade/Condition – Third party grading companies like PCGS, and NGC, have standardized grading. Third party graded coins are traded much like stocks, with prices established and trackable online.
• Rarity/Date – Coins are priced based on their condition and rarity. If you collect a series like Morgan dollars, check the mintages for “key dates.” These are the lowest mintages in the series. Having this knowledge can be beneficial if you look for coins at yard sales, antique shops or flea markets.
• Eye Appeal – Coins can “tone” exhibiting beautiful pinks and blues that make them appealing to the eye of the astute collector. A silver dollar can also exhibit striking mirrored fields and frost on the raised areas. These coins have “eye appeal” and can add to the value and beauty of the piece.
One coin that holds collector interest is the silver dollar. Dollar coins have been minted since our country’s earliest days and are highly popular with collectors, creating a thriving market. The coins large size and beautiful details make the silver dollar a great choice for young collectors, those new to the hobby and seasoned pros alike.
Knowledge of the particular series you choose to collect is the key to successfully building a collection. You’ll need to understand the basics of grading. Condition is a key factor in terms of price, availability, and rarity. Many collectors choose coins that have been graded by a third party grading service like PCGS or NCG. Graded coins take a lot of the guesswork out of building your collection.
When building your collection, consider “eye appeal” and condition. Higher graded coins usually cost more. Rarity is determined by the mintage of a particular year, as well as the population of coins of a particular grade. Eye appeal is subjective. Some collectors like their coins pristine, while others prefer a “toned” coin. The main goal is, collect a series that you love and buy the highest grade your budget can afford.
When purchasing a silver dollar for your collection, there are several factors to consider.
Raw coins (non-certified) are often best left to the experts. Grading can be subjective and the difference in price between a silver dollar graded MS63 and one graded MS65 can often be hundreds of dollars.
Doing business with a reputable dealer and purchasing coins graded by a third-party company like PCGS or NGC can help ensure that you are buying coins of quality. Graded coins are guaranteed authentic, liquid and priced much like stocks, with values that are easily found online.
As a collector, some other characteristic to look for when purchasing a silver dollar include “eye appeal”, rarity, and condition—for example mint state or proof. Eye appeal is a quality in the coin that you, as a collector, find appealing. For example, a silver dollar can exhibit signs of “toning” or coloration that can add beauty, interest and individualization to a particular coin. A mint state silver dollar can also exhibit “proof-like” qualities of frost on the raised devices, with a mirrored background. Graded coins will designate this on the holder using PL, DPL, or DMPL designations (proof-like, deeply proof-like, and deeply mirrored proof-like.)
Rarity is another factor that can be researched online. PCGS and NGC both offer census numbers for coins by grade, which can be helpful when building a collection. Coin collecting is a labor of love and the key is to find and buy coins that appeal to your personal taste and budget.