The Morgan dollar is a popular coin amongst collectors and dealers. Minted in the United States between 1878 and 1921, it is highly affordable and known for its uniquely intricate designs. The Morgan dollar also has an interesting history behind it, as it was not originally struck for general circulation. The value of it is largely based on its condition and its rarity.
Typically, an uncirculated coin is in pristine condition. It is free from visible wear and tear, and contains the luster of a coin that is “hot off the press”. This type of coin is more valuable than one that has been circulated and has obvious signs of damage, particularly in the intricate areas of the Lady Liberty’s locks, and the feathers on the eagle. These are areas that dealers and appraisers often look at first to determine the coins grade.
Where the coin was minted also adds value to it. The Morgan dollar was produced at five different mints: Philadelphia, Carson City, San Francisco, New Orleans and Denver. The mintmark is located below the wreath on the eagle side of the coin. Appraisers and dealers have certain methods of determining the value based on the mint. There are online resources available that will give you more information on this information.
If you are looking to sell your coin, it is important to know the value and history. By going directly to the dealer without doing your own research, you face the risk of not being properly compensated for your coinage. If you have the funds to do so, you should have the coin appraised and certified by a reputable company that will stand by its certification. This is a safe and professional way to approach it dealer, especially if you’re putting several different Morgan dollars on the market.
Once your currency is appraised for its value, you can then decide whether or not you want to keep it or if it is worth selling. Some coins have sentimental value and are better kept in the hands of the owner. These pieces can be mounted as jewelry, or simply stored in a case for viewing. The value of the coin will decrease when it’s mounted, as collectors typically look for pieces in their original state.
If you are a buyer, the Morgan dollar can add value to your portfolio and is an affordable way to do so.