Picked Up Some New Coins ..
And I wasn’t really in the market for these .. As I did spend my quota for the month. But, as they say, it’s hard to pass up a good deal. I was able to negotiate these coins to the price tag of $20 a piece. I believe them to be worth a bit more than that and I think I could turn around and resell them if I wanted to and make a (very tiny) profit. I don’t think that’s what I’m going to do just yet. I may hang onto them or I may wait till silver prices rise and turn around and leverage into pure silver coins.
Morgan silver dollars contain 26.73 g or .77344 ounces of silver. They also contain 10% copper. Considering that the melt value or the bullion value of these coins is about $18.56 USD (per todays silver spot price). I didn’t pay that much more over spot price, meaning the premium for me to buy these was not that high. On average these coins should be selling somewhere around $19-$25 apiece, but I’m finding it increasingly harder to find “Good” to “Fine” Morgan‘s for that price. I suppose since I purchased them as a group, I got a better deal than individually. I got the feeling the person just wanted to unload them because they needed the extra cash. Usually those are great opportunities to grow your stack.
The Arrival ..
The coins came in these cheap plastic flips. I’m grateful that the guy package them in these flips for me, because they do help to keep them separated during shipping. The coins are already pretty old. A few of them turned 100 this year while another is 122 years old, So they don’t need any more wear and tear than they’ve already seen. As soon as they arrived, believe me the flips were out the door.
I have quite a few spare capsules for Silver Round‘s, and the Morgan's fit in these quite well although they do rattle around a little. That doesn’t bother me at this point I just rather have them in the capsules than the flips. One of these days I will buy some capsules that these will fit into a little bit better, but for now I am happy enough.
Here are all four coins encapsulated and ready to be placed in my stack. I already have a few other on Morgan’s, and I’m happy to see the quantity growing.
Let's Take A Look At The Coins Individually..
1899-O Morgan Silver Dollar
This 1899 O is not all that rare. The mintage number on these coins was 12,290,000. What this means is that chances are if you’re looking for one you will find it. This one isn’t in the finest condition but it still has some nice details left in it. As you can see it’s quite worn at the edges and on Lady Liberty’s bust. Also on the flip side, the Eagles wings, head, wreaths and edges all are worn down. I can still make out some distinct features which give it a little bit of value, besides it’s silver content.
1921-P Morgan Silver Dollar
Next up is a 1921 P Morgan. Again the quantity minted is quite high at 44,690,000. Again the chances of finding and purchasing one of these coins is quite high. They are a very abundant and can be found almost everywhere including eBay and coin shops. You have to have a really nice specimen, like an uncirculated coin, before any real value is found in it, other than the silver content.
Overall I think this was the best out of the four coins. The condition is awesome for being circulated. Both the obverse and reverse have great detailed quality and even have a sheen to the smooth areas.
1921-S Morgan Silver Dollar
Next up is a 1921S Morgan silver dollar. This one had half or about half of the mintage of the 1921P. There were only 20,695,000 of these coins minted. LOL. That’s still a whole heck of a lot! Again the coin is fairly easily found and the value is more in the silver than in the coin itself.
After taking a closer look at this coin I noticed some interesting markings on the front and even on the back.
This coin has some weird markings on it, almost as if it was double stamped or another coin got caught in between. Not sure what happened, but you can check it out for yourself. I marked the oddities with a few red arrows. I am sure you may even be able to find a few more. I can see what appears like shadows of a 'P' and an 'E' and also ribbing.
On the flip side, I can make out the shadow of another wing or the tips of it at least.
1921-D Morgan Silver Dollar
The final coin I have to show you, it’s also a 1921 Morgan silver dollar but this one was minted in Denver. Total mintage on this coin was 20,345,000. I think it’s safe to say that 1921 was quite a year for the Morgan silver dollar. They mentored a boatload of them!
This coin has some great detail left in it, although it has been lightly circulated. It also has some spotting us to the silver surface. I just consider this a little bit of character.
I am quite happy with this unexpected purchase and I think the value will only grow from here. Maybe they aren’t the best coins to purchase as high value collectibles, but they do add to my silver stack.
Even so, Morgan’s or a great coin to collect in my opinion. An absolutely Beautiful design with Lady Liberty on one side and a Bald Eagle with its wings spread wide on the other. What’s not to like about a Morgan Silver Dollar?!
Molly say's she likes the Morgan's Too!
“Send a coin into the abyss and wish for a blissful kiss”
― Sean F. Hogan, Painting Angels
Thank you for swinging by my blog and checking out the post. Have a great day!
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