The Morgan Dollar is a silver United States dollar coin that was minted from 1878 to 1904 and again for one more year in 1921. The Morgan Dollar is named after its designer, George T. Morgan, who designed the obverse and reverse of the coin. Morgan's monogram appears near Lady Liberty's neck on the obverse. The dollar was authorized by the Bland-Allison Act of 1878. It has a fineness of .900, giving a total silver content of 0.77344 troy ounces (24.057 grams) per coin.
You can find Morgan Dollars at various on-line bullion merchants as well as at coin shops around larger cities. Because these have a fineness of .90% pure Silver, their value can rise dramatically with the increase in the spot price of silver. (Keep your eye on the Gold/Silver ratio in the coming years)
They can be easily traded on auction sites like ebay, sold to a coin shop or back to the merchant that you originally purchased them from. They will be nice to have around the home as you can always sell one and have money for groceries or gas, especially if hyper inflation kicks in.
I just checked the Apmex site and they have a wide variety of Morgan Silver Dollars, ranging from junk coins ($18.31 each) to uncirculated ($33.99 each). The closing spot price of Silver today is $18.16 so the 'junk' Morgan's are just a bit over spot. (They are .90% silver, unlike the American Silver Eagles which are 1 troy ounce at 99.9% pure) The 2010 American Silver Eagles are going for $21.19, that's $2.93 premium over spot per coin!
I know some people that purchase them when they have 'disposable' income that they do not want to put in a bank savings account. One way to start a collection is to purchase a certain amount each month going forward. You can purchase 5 each month or whatever you budget is just to start a collection. It's a cheaper way to get started in Silver investing if you do not want to collect the American Silver Eagles which command quite a premium over the spot price.
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