Key Date United States Morgan Dollars have been collected both for their beauty and their historical elements. United States numismatics take the collector back in time.
A feeling of the past when these great silver coins circulated throughout the financial world. Changing hands for ordinary transactions, providing a means for commerce to happen.
On February 28th 1878 the Bland Allison act authorized the resumption of striking silver dollars for circulation. With a 412 1/2 grain weight and a fineness of .900 the United States Mint would resume it's production.
Over 20,000,000 examples of the new Liberty head Morgan silver dollar were struck in total, combining the output from all mints.
Proofs for the first year of issue were struck for collectors but in minimal numbers, only 750 were produced and they are extremely rare today. Making the 1878 proof Morgan silver dollar the first key date coin in the series.
1879 brought the Carson City mint coins to the mix. This mint produced short runs for most of the years they minted dollars. CC Morgan dollars are all key dates and are disappearing from the market very quickly.
With the exception of the CC coins, the next year we find a key date would be 1893. Short runs for all mints would make this the year to collect. Leading the price category and rarity would be the 1893-S with a reported striking of only a meager 100,000 examples, the 1893-S is quite an acquisition to most collectors in any grade.
In 1895 the Morgan dollar was struck in proof for collectors again but this time only 12,880 were minted. This created the ultra key date 1895 proof Morgan silver dollar. This coin will bring thousands of dollars when it does appear for sale no matter what the condition.
1894 Morgan dollars are also rare. They had a short run of only 110,972 examples and are seldom seen for sale. 1895, both O mint and S mint are also short runs and would be known as semi key dates.
Jump ahead to the 1903-O coin from the New Orleans mint and another high priced semi key is found. 1904-S is also a premium coin.
If you are seriously interested in collecting these coins. It is highly recommended that you do some research for yourself and investigate both pricing methods and grading techniques prior to bidding or buying any Morgan dollars. Familiarize yourself with what they sell for by watching ongoing auctions on Ebay and other on line auction sites. Get a feel for the market.
R.S. Yeoman's Redbook Of United States Coins is a great place to acquire mint numbers and a rough idea of values for certain dates. The actual research you do for live auctions will be more valuable for current trends and price changes. With todays communications and the invention of the Internet, global trading has changed the game for collecting coins.
Values will fluctuate much faster then a yearly publication like the Redbook can keep up with. Websites such as PCGS have taken up the task of listing daily values and price changes for all United States coins and this can be a very good resource for the new collector or the advanced numismatist. Membership will allow you to submit coins for certification and encapsulation.
Certified coins are a good way to buy Morgan Dollars as this will provide peace of mind, as well as added value when you sell. Collectors can buy and sell coins assured of their grade and the attached value the grade supports. It just makes it easier to trade when a generally agreed upon grade is being discussed. NGC is another well know grading company and also has the respect of the collecting community.
Key Date United States Morgan Dollars are a very good investment. They are a limited commodity in an expanding collector base and are going to disappear very soon from the market. Collections are started anew every day and each coin placed within a collection is one less available. The combination of factors aligning is about to create the next Key date Morgan dollar. Buy yours before the prices go off the chart and you could find you've made a very good investment.