Buying Morgan Dollars

For anyone who isn’t too familiar with the coin world they would likely be very surprised to find out just how many different types of silver coins there are in the world.  Usually when anyone is going to be thinking of coins the first thing that will come to mind is gold coins.  This is partly because whenever great wealth needs to be portrayed in the media it will usually be in the form of a chest filled with rare gold coins.  It is true that there are certainly quite a few gold coins out there in the world, but because of the fact that gold is actually the most valuable of precious metals it is much more feasible for silver coins to be minted as it is less rare then gold, leading to a great amount of diversity in the silver coin community.

There are quite a few different factors that can determine whether or not a silver coin is going to be rare.  Unlike with other hobbies it is actually very possible for a silver coin to be considered rare even if thousands of them are still around in circulation.  This is because there might have been millions of those silver coins available at one point in time.  Usually what will determine the rarity of the coin is what happened to it when it was cancelled from circulation.  For example, with Morgan dollars when they had become discontinued the majority of the coins were gathered up and all melted down to lead to the creation of new coins.

Of course, some people were smart enough to hold onto their Morgan dollars knowing that in time they would become valuable treasures.  In addition to that, a few years ago a large store of Morgan silver dollars was discovered, again leading to the market starting to become flooded with silver dollars.  Now is a great time to pick up Morgan silver dollars because the market is only going to have them for a very limited period of time.  In a few years once all the available ones had sold the only ones that are going to be available for purchase are the ones that current owners are going to sell.  This means that they’re going to have a huge monopoly on the Morgan silver dollar market, allowing them to set whatever price they want for the coins, knowing that you won’t have anyone else to go to.

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