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Morgan Dollars

Peace Dollars

90% US Coinage

 

Silver Dollars

Description – Morgan & Peace Dollars Numismatic Value Other Silver Dollar Types Intrinsic Value Taxable and Legal Implications Silver Dollar Uses

 

Description – Morgan and Peace Dollars

US Silver Dollars are 90% pure silver bullion that weight 26.8 grams.  Although officially silver dollars exist since 1804 in multiple incarnations, the classic silver dollars are the Morgan Dollar and the Silver Dollar.  When people refer to silver dollars, it means Peace Dollar or Morgan Dollar.  The very vast majority of silver dollars are Peace Dollars and Morgan Dollars.

Numismatic Value

The Morgan and Peace dollars are very common coins.  Very few qualify as rare and high numismatic value.  However, since people like them, and collect them, there is a certain collector value to them, but it is for the most part nominal.  Basically, most people are willing to pay a percentage wise high premium just for the pleasure of owning one.  However, such premiums, in absolute terms are not much anyway.  Thus, silver dollars very inexpensive collectibles.

 

Other Silver Dollar Types

The specifics of the other types of silver dollars are out of the scope of this article.  There is plenty of information about other types of silver dollars.  These other types of silver dollars have a higher numismatic value.

• 1804 Silver Dollar
• Seated Liberty Silver Dollar (1836-1873)
• Trade Silver Dollars (1873-1885)

 

Intrinsic Value

The intrinsic value of silver dollars is based on the actual silver content and the price of silver at that particular moment.  Thus, as bullion, expect some discount with respect to spot market when selling silver dollars.  Very few silver dollars will fetch much more than spot market when sold to a precious metals dealer.

Tax and Legal Implications
Silver dollars, tax wise, qualify as “Numismatic Bullion”.   In the U.S., numismatic bullion is precious metal bullion minted by the U.S. Mint prior 1935.  Tax maters and legal matters are outside the scope of this article about silver dollars.  For details search for other sources.  There are two advantages to this.

1. Can’t be confiscated by the government
2. Can be used in an IRA

Silver Dollar Uses

Silver dollars have great attraction because of what they represent.  They are a piece of history.  Most often silver dollar have been around the world and back several times.   In addition, silver dollars are often used as “right of passage” tokens.  For example, in the US Navy, when enlisted personnel pass to become officer, which takes a lot of effort to accomplish, often the enlisted man will present a silver dollar to the people that vouched for him.  There are many other types of such customs.