If you're interested in selling your silver dollars, read this article first before you sell Morgan silver dollars.
If you’re interested in selling your silver dollars, read this article first before you sell Morgan silver dollars.
Morgan silver dollars were first minted in 1878 following the passage of the Bland-Allison Act, which was implemented for the purposes of establishing a new U.S. dollar coin. They were minted through 1904, and again in 1921, which was the last year of mintage. Designed and named after George Morgan, who oversaw the design and mintage of these coins, Morgan silver dollars are some of the most recognized U.S. silver dollars the world over, helping to make it a liquid market if you’ve made the decision to sell Morgan silver dollars.
All in all, there were five known mint locations for the Morgan silver dollar. These are San Francisco, Denver, Philadelphia, New Orleans, and Carson City. One of the first steps that you need to do when you decide to sell Morgan silver dollars is to try to determine the exact mint, date, and condition of the coins that you have. These are very important determinants for the coin’s final sale value. For example, the 1895 Morgan silver dollar is one of the rarest silver dollars available so much so that some examples graded in MS68 condition are known to sell for as much as $120,000 in auctions.
Other Morgan silver dollars minted in 1895 also bring a nice premium due to the low mintage of the coin, but on a relative basis, fall well short of the type of money that an 1895 proof Morgan silver dollar can bring when selling Morgan silver dollars. For comparison purposes, it should be pointed out that most Morgan silver dollars are common date coins.
Now that we’ve discussed some of the history surrounding Morgan silver dollars, we’ll now share with you some important tips and guidelines that you should follow when you sell Morgan silver dollars.
1. First and foremost, always have your coins evaluated and appraised by an established coin dealer that conducts coin appraisals. This service may be offered for free or for a fee, but a general rule of thumb is that most family owned coin dealers offer coin assessments at no charge.
2. One coin appraisal isn’t typically enough, unless you’ve already called around and obtained pricing for your Morgan silver dollars. If you haven’t, then we recommend that you obtain more than one estimate so that you can feel confident that you’re receiving a fair price when you sell your Morgan silver dollars.
3. Another potential option, if you’re interested in selling your coins online, is to send your coins to a coin dealer that offers a mail-in service. Just be sure that they’re a member of the Better Business Bureau. Your more reputable coin dealers will typically agree to reimburse you for at least a portion of your shipping fees.
4. Try to avoid coin auction sites wherever possible. The listing fees are oftentimes too expensive to justify the transaction. In most cases, you get the same, if not a higher value for your coins by transacting with a local dealer.
With the demand for silver dollars, the decision to sell Morgan silver dollars could not have come at a more opportune time. Check to see if you have Morgan silver dollars in your coin collection, from an estate, or as an inheritance. Have them evaluated, select a coin dealer that offers competitive prices, and cash them out for top dollar.
Want to find out more about how to sell Morgan silver dollars, then visit Atlanta Gold and Coin Buyers’ site on how to choose the best coin dealer when selling Morgan silver dollars to receive top dollar for your coins.