The current global economy has driven investors to consider every possible way to add an element of stability to their portfolios. Many are taking a somewhat historical approach to their efforts and relying upon hard assets and commodities to create short and long-term stability. Consider the increase in demand for the Morgan Dollar. While this has always been a popular collectable coin for many experienced and novice numismatists, it is now also a very popular coin for investors as well.
Though the coin offers a significant amount of nearly pure silver (26.73 grams at .900 purity), it is not the underlying metal that is driving the value of the Morgan Dollar higher and higher. Like many rare and valuable coins, the Morgan Dollar is no longer in production, and the finer the condition of the coins the more value they have. The coins were never meant to serve as day to day currency, and not many actually circulated. This means that many investors can easily and readily find virtually mint-condition coins, and with their historic significance, it also means that they have high value.
The Morgan Dollar was produced between 1878 and 1921, and some coins have “key dates” that give them far more value than others. There are also “common dates” that have significant value simply because of their exquisite condition too.
The Morgan Dollar coins were minted in Philadelphia, Carson City, New Orleans, Denver and San Francisco, and had what is known as a “hard strike” which imparted the coins with a very distinct impression and a tremendously high sheen. Some of the coins never made it beyond the proof copies from their mints which make them tremendously valuable as well.
So, how does someone decide which Morgan Dollar coins to purchase for their investment portfolio? This is something that will vary from individual to individual, but all investors should understand that coins are more of a “quality over quantity” sort of issue. This means that buying the finest and most valuable coins possible will yield a better return than purchasing an equivalent dollar amount in less valuable coins. While both options will increase in value and yield returns, the more valuable individual coins are going to see a more measurable profit potential simply due to the demands for them.
It is also important to understand the importance of buying coins through a distributor who can offer certification of the coins as well. The condition and quality of the coins will always have an impact on their value, and it is only reliable vendors who can certify these facts beforehand.