The Morgan Silver Dollar is so enticing to collectors because it was one of the first Silver Dollars produced by the US Mint that US citizens actually really liked. Unlike previous Silver Dollars, the Morgan played host to a beautiful design that was never before seen on US coins. Nowadays, collectors from all over the world are trying to get their hands on these coins in order to put together a complete collection.
As time moves forward, fewer and fewer of these coins will be available for purchase. Because of that, now is the perfect time to get your hands on Morgan Silver Dollars.
When you are talking about coins that are a hundred years old or older, the condition of the piece is something no one can guarantee. You will notice that these coins are the source of a lot of collector attention in that every collector will pick apart every facet of the coin prior to making a purchase.
For most people, the best option is to have their Morgan Silver Dollar sent away for grading at the hands of a professional organization. Knowing that not everyone has the time and money to do this, we have provided below an outline of the basic coin grades as well as their related characteristics.
Uncirculated: An Uncirculated coin is one that spent absolutely no time at all being circulated and has been well-preserved as a result. When it comes to these coins, the condition is never disputed because there is absolutely nothing wrong with them. In fact, these pieces more closely resemble a brand new coin than anything else.
Extremely Fine: A coin that is determined as being Extremely Fine is one that has spent only a short period of time exchanging hands. Though you may be able to notice some very light signs of circulation, these signs of damage are only visible under close inspection. For collectors, these pieces are in great condition.
Fine: Fine is the grade given to Morgan Silver Dollars that have seen a lot of time exchanging hands but have not been so heavily and irreversibly damaged during that time. The surfaces of these coins will have been worn down a bit thanks to the changing of hands, but the images and inscriptions on the faces will still be able to be made out without too much trouble at all.
Good: Coins that are of Good grade are the worst of the worst. These coins have been very heavily damaged thanks to their spending decades in circulation. For collectors, you will find that coins in this condition are often overlooked save for those purchased by individuals looking to put together a complete collection of Morgan Silver Dollars.
When it comes to assigning a price to the Morgan Silver Dollar, there are but two key factors to take into consideration. For one, the condition of the coin means everything to collectors and is something that will be closely analyzed. Secondly, because there were multiple types of Morgans minted every year, the exact type will also play into the asking price. Listed below is a chart aimed at giving you a better idea of what you might be asked to pay for a Morgan given its condition and type.
1904 Morgan Dollar
|1904 Morgan Dollar||N/A||N/A||$47||$55|
|1904 Morgan Dollar (O)||N/A||N/A||$39||$41|
|1904 Morgan Dollar (S)||N/A||N/A||$200||$500||Source: Red Book|