Are Morgan Silver Dollars a Good Investment?

Are Morgan Silver Dollars worth buying? Like many aspects of coin collecting, the answer isn’t black or white. Morgan Silver Dollars can be a great investment, but you must do your due diligence to avoid common missteps. That’s where we come in.

At Endeavor Metals, we strive to educate our customers. Your satisfaction is our highest priority, and that starts with making an informed purchase. We provide unbiased information so you can proceed with confidence or select a different investment vehicle altogether. 

Morgan Silver Dollars are interesting because they can be outstanding investments, but they can also be a money pit if you’re not careful. Don’t worry—we’re going to explain the why and how. Are Morgan Silver Dollars a good investment? Here’s everything you need to know.

A Brief History of the Morgan Silver Dollar

Minted from 1878 to 1904, reissued in 1921, and then reintroduced as a collector’s piece in 2021, the Morgan Silver Dollar is one of America’s most iconic coins.

The controversial Coinage Act of 1873 halted the right of silver bullion owners to turn their silver into spendable coins. Gold bullion owners could still turn their gold into money, which caused the gold standard, directly tying currency to the value of gold.

To alleviate the anger of silverholders, in 1878, the Bland-Allison Act was passed, requiring the Treasury to buy between $2 million and $4 million worth of silver at market price per month. That silver would be used to mint coins, specifically Morgan Silver Dollars.

Are Morgan Silver Dollars a good investment because of their historical significance? Their unique place in history certainly makes them appealing. Are Morgan Silver Dollars worth buying as an investment? Read on.

Morgan Silver Dollars Are American Artifacts

It’s no secret that many historical coins are extremely valuable, putting them out of reach of the casual investor. Morgan Silver Dollars, on the other hand, tend to be relatively affordable. There are exceptions. An 1893-S Morgan Silver Dollar was sold for over $2 million in 2021!

In general, though, Morgan Silver Dollars aren’t as pricey as other historical American coins, so they’re quite attractive to people who enjoy coins with a story.

Morgan Silver Dollars Are Widely Available

There’s no denying their historical significance, but are Morgan Silver Dollars a good investment from a financial standpoint? That’s where things get a little murky. 

Over half a billion Morgan Silver Dollars were minted from 1878 to 1904. While nearly 75% of them were melted down before ever leaving their respective mints, they’re still not exactly rare, in general. 

That said, there are some Morgan Silver Dollars that are extremely rare and, therefore, extremely valuable. In addition to rarity, the value of a Morgan Silver Dollar is also affected by its grade on the Sheldon Coin Grading Scale, which is used to determine its condition.

Are Morgan Silver Dollars worth buying? By now, you should have a better understanding of why we can’t give a simple yes or no. Whether or not Morgan Silver Dollars are a good investment depends on the specific coin.

The Melt Value of Morgan Silver Dollars

In most cases, Morgan Silver Dollars with a grade of AU50 or below are only worth their intrinsic silver content. 

Buying affordable Morgan Silver Dollars can be a great way to invest in silver bullion, but they don’t have value as collectibles. Most Morgan Silver Dollars with low grades are considered “junk” silver.

Furthermore, it has become common for unscrupulous sellers to advertise 1 oz Morgan Silver Dollars as an affordable way to buy 1 oz of silver. 

However, Morgan Silver Dollars are only 90% silver, so it’s very important that you take that fact into account if your goal is just to own silver bullion. Are Morgan Silver Dollars a good investment in silver? They can be, but make sure you know exactly what you’re paying for!

The Future of Morgan Silver Dollars

Coins that are ubiquitous today might become rare over time. While it’s impossible to predict what the future holds, plenty of investors are scooping up Morgan Silver Dollars with hopes of market demand growing as their availability diminishes.

Are Morgan Silver Dollars worth buying as collector’s pieces? Most of the time, the answer is no. However, there are certain Morgan Silver Dollars that are already highly sought after and will grow in value as they become harder to track down.

Are Morgan Silver Dollars a good investment? If you buy the right coin at the right price, absolutely. If you buy an overpriced coin that’s widely available? Probably not. Do your research, and proceed with caution.

Should You Buy Morgan Silver Dollars?

If you’re interested in silver numismatics, Morgan Silver Dollars are a phenomenal entry point. They have a fascinating story and are genuine American artifacts from over a century ago. There’s a reason silver hounds love them! Just be realistic with your expectations. 

If you’re interested in owning silver bullion, buying “junk” silver like Morgan Silver Dollars can be a great approach. At the same time, you may find that silver bullion bars or silver bullion coins are a better fit. It’s a matter of personal preference.

Are Morgan Silver Dollars a good investment for coin collectors? Certain Morgan Silver Dollars can be extremely valuable and are very desirable, but they’re outliers. Be vigilant about vetting your sources and researching the coin.

Talk to a Qualified Numismatist Today

Are Morgan Silver Dollars worth buying? Hopefully, we’ve cleared up some common questions and misconceptions about Morgan Silver Dollars. If you’re still unsure whether they’re right for you, contact us for a free consultation. We’ll be happy to point you in the right direction.

Endeavor Metals is a Tier 1 US Mint precious metals dealer. Whether you’re investing in bullion or numismatics, you can count on us for competitive prices on authentic products backed by our 7-day, 100% money-back guarantee.

Are Morgan Silver Dollars a good investment? Rest assured, if we carry a coin, it’s a sound investment. We do have some exceptional Morgan Silver Dollars in stock. Take a look, and place your order with confidence.