#1 Morgan Dollar Buyer Las Vegas & Henderson
Sell Morgan Silver Dollars in Las Vegas & Henderson
Made with 90% silver, the Morgan silver dollar was minted from 1878 to 1904 and then again for one year in 1921. Morgan dollars were minted in Philadelphia, San Francisco, New Orleans, Denver and Carson City. They have the distinction of being the most popularly collected United States coin. There are many reasons for this, but likely the chief reason is their association and romance with the old west. It is hard not to imagine one of these old coins being used in a poker game by Doc Holliday or Wyatt Earp.
How Morgan Silver Dollars are Valued
However, the value of these coins is not particularly based on their age. Several factors determine their value. First, as they are a large coin, (38.1 mm in diameter and weighing 26.73 grams) and since they are 90% silver, an aspect of their value is based purely on the silver content. While they will always have a “one dollar” face value, their intrinsic value is tied to the silver content, which is 0.77344 of a troy ounce. This suggests that regardless of any other factor, they will always be worth an amount equal to their weight in silver consistent with the current silver spot price or “melt value”. Other determiners of value are true of any collectible coin. These include, scarcity and condition.
Let’s begin with scarcity. All too often an individual will assume that because my silver dollar was minted in the 1880’s it must be rare. In point of fact, there were over 27 million minted in the year 1880 alone. There are however years where the total mintage were in the hundred thousands and these coins are considered “key” or “semi-key” to the series and may command several hundred to thousands of dollars depending on their condition.
This leads us to the second main determiner of value, condition. Coins are typically evaluated on the quality of their condition from poor, to good, to fine, to almost uncirculated to “mint state”, with a great number of conditions in between. And just like the saying, “Beauty is in the eye of the beholder”, there is no end to the diversity of opinion regarding the condition of a coin. For this reason, third party grading services came into vogue in the last several decades to diminish the argument over the condition of a coin. The third party grading service will assign a grade based upon their expert opinion and encapsulate the coin all for a price.
So what does this mean for the handful of silver dollars that grandpa left me? At the very minimum they are going to be worth the silver content they contain. If they are in exceptional condition, particularly if that condition has been verified by a qualified third party grader, they will likely be worth more. If you happen to be lucky enough to have one of the keys or semi-keys to the series they may be worth hundreds of dollars regardless of condition. Finally, those coins that are both rare and in exceptional condition as confirmed by a top rated grading service, can be worth thousands.
As a business, while we will always strive to offer you fair value for your coins, always remember that the prices you may find online or in price guides usually represent the highest retail value for the coin and a dealer will offer a price they feel is reasonable, but that also allows them to realize a fair profit.