Also known as the Liberty Head due to its characteristic Lady Liberty design, Morgan silver dollars were first minted in the late 1870s after the passing of the Bland-Allison Act which sought for the creation of a new dollar currency. The Morgan silver dollar eventually received its current name from the designer George Morgan who oversaw the design and minting of the first Morgan silver dollars. A colored history following that first minting is why the decision to sell Morgan silver dollars can be a huge investment gain for you.
All in all, there were five known mint locations for the Morgan silver dollar. These are San Francisco, Denver, Philadelphia, New Orleans, and Carson City. One of the first steps that you need to do when you decide to sell Morgan silver dollars is to try to determine the exact mint, date, and condition of the coins that you have. These are very important determinants for the coin's final sale value. For example, the 1895 Morgan silver dollar is one of the rarest silver dollars available so much so that some examples graded in MS68 condition are known to sell for as much as $120,000 in auctions.
Other Morgan silver dollars minted in 1895 also bring a nice premium due to the low mintage of the coin, but on a relative basis, fall well short of the type of money that an 1895 proof Morgan silver dollar can bring when selling Morgan silver dollars. For comparison purposes, it should be pointed out that most Morgan silver dollars are common date coins.
Now that we've discussed some of the history surrounding Morgan silver dollars, we'll now share with you some important tips and guidelines that you should follow when you sell Morgan silver dollars.
1. Always have your coins evaluated or appraised by an established coin dealer that conducts coin appraisals. He may do this for free or for a fee. The important thing is to get a realistic value for the price of your coins which will form the basis of your subsequent decision to sell. For the most part, many family-owned coin dealerships do appraisals for free.
2. One coin appraisal isn't typically enough, unless you've already called around and obtained pricing for your Morgan silver dollars. If you haven't, then we recommend that you obtain more than one estimate so that you can feel confident that you're receiving a fair price when you sell your Morgan silver dollars.
3. Alternatively, you can have your coins appraised online if you wish to sell your coins online. There are coin dealerships that offer to evaluate coins that you can send through mail. If bought, you can expect to be reimbursed for a portion of your shipment fees.
4. Try to avoid coin auction sites wherever possible. The listing fees are oftentimes too expensive to justify the transaction. In most cases, you get the same, if not a higher value for your coins by transacting with a local dealer.
With the price of silver performing strongly at the moment, the decision to sell Morgan silver dollars couldn't have come at a better time. Whether your coins are from a coin collection, estate, or received as an inheritance, if you follow the helpful guidelines above, you'll be sure to receive the most when selling your silver dollars.
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