From the very first time I went to an American coin show, I have loved the Morgan Dollar. It is the most collected classic coin in the States and I understand why. Issued between 1878 and 1921 its history conjures up images of the smoke-filled saloon bars of the Wild West.
Taking its place as the cornerstone of the American monetary system when it was first struck in 1878, from the time of cowboys, outlaws and the frontier.
I recommend one for EVERY client.
From a Portfolio perspective it is also a very affordable entry point to American collecting. Once you own the original Philadelphia Mint coin, you can quickly complete your set with the other four mints that struck Morgan Dollars – identified by their mint marks (CC – Carson City, S – San Francisco, D – Denver and O – New Orleans).
These silver dollars are known for their large size, appealing design, wide variety, and its historic significance. They can be collected according to their type, date and mint, designs, or die varieties.
But I’m getting ahead of myself. Let me tell you the story of the Morgan Dollar and the critical collecting tip you need to know.
First issued in 1878, the Morgan Dollar has a unique place in the heart of Americans. It is the coin of the Wild West. Of the gunfight at the O.K. Corral. Of Billy the Kid, Jesse James, Doc Holliday, Wyatt Earp…
It’s the coin every American school boy and girl grows up wanting to own.
Twice as rare overnight
But there was also an important event that overnight doubled the scarcity of the Morgan Dollar…
The US Mint stopped striking Morgan Dollars in 1904. But just 14 years later, the US Government made the Morgan Dollar twice as rare almost overnight.
In an attempt to support the British government’s war effort, the Pittman Act saw the US Treasury recall half of the US Dollars in circulation, which they then melted down.
Further silver speculation during the 1960s and 1970s means that there are now as few as 1 in 5 of all of the Morgan Dollars ever struck still in existence.
So the message is simple…
If you’re at all interested in classic coins, I strongly recommend that you own a Morgan Dollar.
If you’re interested…
Coin Portfolio Management has limited stocks of a Morgan Dollar that shouldn’t exist…
The famous “Hot Lips” error coin, features Lady Liberty’s portrait double-struck, resulting in a noticeable doubling up of her nose, lips and chin.
Struck in 1888, the error wasn’t discovered until the 1960s and has gone on to become one of the most famous coin errors.
You can add one to your Portfolio today for just £295 (+p&p).