Silver Morgan Dollars Capitalize on Baby Stages of Bull Market
By Brian Zweig
If you’re a precious metals investor, late 2010 and early 2011 probably stand out in your mind. During that period, silver staged one of its most memorable rallies ever – a jump reminiscent of the 1980 market. Not since the Hunt Brothers attempted to corner the silver market did prices accelerate so rapidly. The dramatic move began in August 2010, when spot silver was in the high teens. By year’s end, silver had crossed the $30 mark. The next major move took place in spring 2011, when spot rapidly spiked from $30 in February to a peak of $47 in April.
Make no mistake about it, a move from $19 to $47 in around eight months is extraordinary. But what happened in the vintage Silver Dollar market was even more impressive. A bright spotlight was shone on all silver products during this rally – including vintage silver coins. In addition to the usual rounds and bars, investors were clamoring for American Morgan Dollars. Mints and refineries kept up with demand for modern silver products, but a “supply squeeze” developed for Silver Dollars.
The result: Morgan Dollars increased even more than the spot price of silver! This was especially true for high quality Uncirculated coins. Consider the following:
While silver moved by $16 per ounce, MS63-65 Silver Dollars saw gains of $26-$90 per coin. If you owned silver in the form of graded Morgan Dollars, your return was greatly amplified in 2011. This episode is one reason why we’ve long advocated owning Mint State Silver Dollars. Just like graded pre-1933 U.S. gold coins (like the MS64 Saint-Gaudens) offer additional upside, Silver Dollars have the same benefit. Since there’s a finite supply, a rush of new interest often results in a huge gain in premium.
A common question is which grade to buy. Our response: you might as well call MS63 / MS64 / MS65 as “Good, Better and Best.” The rarer the coin, the more upside potential it has. When there’s a supply squeeze – just like there was in 2011 – the hardest items to find end up appreciating the most. It’s no surprise that MS65 Morgans saw $80-$90 price jumps in mere months; only a miniscule number of Silver Dollars exist in such high grade. When demand heats up, those are the first to disappear from the marketplace.
Why do so few Morgan Dollars exist in MS65? It’s mostly a function of the coin’s design. The cheek on Liberty’s portrait is raised and exposed; most coins exhibit numerous marks in this area. Whereas other sections (and the reverse) are shallower and/or protected by the raised rim, the cheek is completely vulnerable to scratches and marks. Many Morgan Dollars have the reverse quality of an MS64 but the obverse of an MS62!
Even if a Morgan Dollar has clean and well-preserved surfaces, it can only grade MS65 if it has excellent luster, a solid strike, and superb eye appeal. Any deficiency in those areas can knock it down a grade. The New Orleans Mint, for example, was notorious for flat, poorly-struck coins. These pieces are often seen with incomplete design details in the center—which ultimately limits its grade. Even if a coin has MS65 surfaces, a weak strike might result in its being held back to MS64.
Today's Spotlight Offer
Why are we bringing this to your attention today? Right now, MS63-65 Morgan Silver Dollars are currently selling for tremendous discounts. They’re trading well below recent (let alone all-time peak) price levels. In fact, we cannot remember seeing Uncirculated Morgans available at such reasonable prices in the past 5-10 years!
In actual dollars and cents, here’s how low your cost is now:
$50 per coin. Minimum order is 25 coins.
Or just $48 each when you buy 50 or more!
$58 per coin. Minimum order is 25 coins.
Or just $56 each when you buy 50 or more!
$113 per coin. Minimum order is 15 coins.
Or just $110 each when you buy 30 or more!
Speaking of rarity, these prices are in effect until Friday December 6th, or while our inventory remains. We have a limited number of coins available (not just at these bargain levels, but available altogether). Please be sure to let us know earlier if you wish to reserve any of these.
Each coin is graded MS63, MS64, or MS65 by PCGS or NGC, and hand-selected by our numismatic experts for the utmost quality. In addition, each coin will be delivered in a hard, plastic slab box for easy storage and presentation. These coins are more than just a store of value—they’re fantastic conversation pieces and a pleasure to study.
If the lure of historic silver coins in a high grade is irresistible to you, give us a call at 800-831-0007 or email us today to claim your Morgan Dollars.
*Prices subject to change based on market fluctuation and product availability. Prices reflected are for cash, check, or bank wire. Free shipping, handling, and insurance are available for all quantities ordered. Offer expires Friday, December 6th, 2019, or while supplies last.