Whether or not you consider yourself a coin collector, you may have coins with significant value lying around your home or safe deposit box. Right now, one of the most in demand coin is the Morgan Silver Dollar, which has seen surging price points as of late. Use the guide below if you want to know about this trend and how to take advantage of it.

The Morgan Silver Dollar

From 1878 to 1921, the Morgan Silver Dollar was produced by the U.S. Mint as a result of the Bland-Allison Act. Per this act, the Treasury had to buy two to four million dollars of silver every month for producing coins.

The Morgan Silver Dollar was designed by Assistant Engraver George T. Morgan, and each is made from 90% silver. The coin’s obverse features the profile of a woman personifying liberty; the reverse features an eagle displaying its wingspan.

What to Know About the Price Surge

The Morgan Silver Dollar ranges widely in value; some are worth $20, while others are worth thousands. Coins made at the Carson City Mint, other rare dates and uncirculated pieces have additional value.  The experts at Coins Plus can help you with evaluating your coins.

The prices reached record heights in 2021. Some coin collectors are reporting up to 70% increases in value—an uncirculated bag of 1,000 coins is worth over $40,000. The surge in value is likely attributed to this year's limited edition release of new Morgan dollars.

Marketing companies are buying older Morgan dollars from wholesalers in bulk. The prices may come back down at the end of the year when the marketing campaigns conclude.

How to Prepare for a Sale

Now is a great time for Morgan dollar owners to sell their coins for a profit. The experts at Coins Plus will help you determine the current market value of your coins and make a fair offer.  Stop in any of our three locations for more information.

Keep your silver dollars safe until the sale to command the highest price. Store them separately to avoid scratches and dents. Don't clean them; this will remove their natural patina and cause surface damage.

If you are a coin collector interested in selling or appraising your pieces, head to Coins Plus in Cincinnati, OH. They will carefully assess the condition and value of your collection to help you get the most from a sale or trade. Get more information about their services online, or call (513) 621-1996 to schedule an appointment.