For those of you new to coin collecting as an investment, an excellent first choice would be the popular Morgan silver dollar.  Minted from 1878 through 1904, and then again in 1921, these beautiful coins offer a variety of dates, rarity, and grades to fit any budget.

Named after its designer George T. Morgan, the Morgan silver dollar depicts Liberty on the front of the coin with the motto “E PLURIBUS UNUM” above her head and the date below her.  There are also seven stars to her left and six stars to her right around the perimeter of the coin between the motto and the date.  The back of the coin features an eagle with outstretched wings.  It is also clasping arrows and an olive branch to signify America’s military strength and peaceful intentions.  Above the eagle is “UNITED STATES OF AMERICA” and below it are the words “ONE DOLLAR,” and the motto “In God We Trust” can be found between the outstretched wings.  Finally, the eagle is surrounded at the sides and bottom by a wreath.  All mints except for Philadelphia placed a mint mark at the center bottom of the reverse, between the “D” and “O” of the word “DOLLAR” and just below the center of the wreath.

The Morgan silver dollar contains 90% silver and 10% copper so with today’s silver and copper prices of around $28 an ounce and $4 a pound respectively, a common date coin in average condition is worth a little over $21 for its metal content alone.  The investment value of any coin is dependent upon the date, rarity, and condition or grade of the coin.  Coins that have been stored and never circulated are called “uncirculated” or “mint state” (MS).  Coins that have been circulated but still look nearly new are graded “about uncirculated” (AU) followed by grades “extremely fine,” “very fine,” “fine,” “very good,” “good,” “about good,” “fair,” and “poor.”

For example, a total of 756,000 1879 Morgan silver dollars were minted in Carson City (CC), Nevada.  That is a relatively low number and since it is difficult to know how many of that date have actually survived, that coin will trade between $155 and $7,000 depending on its grade or condition.  Another example is the more common 1902-O (New Orleans mint) Morgan which in MS-65 condition is worth around $165.  When purchasing any collectible coin, be sure it has been graded by either PCGS or NGC.  This will guarantee you are getting what you pay for.