Sell Morgan Dollars for Best Price in Las Vegas | Morgan Dollar Value
The Morgan Dollar was the first-ever standard silver dollar since the Coinage Act of 1873 that ended the free coining of silver. This coin has a face value, but individuals collect it more for its bullion value. Selling Morgan Dollars is an easy way to earn a few extra bucks, and Nevada Coin Mart is the perfect place for this. The shop will give you the highest amount of money for the value of Morgan dollars. If you happen to have some lying around the house, you can go ahead and sell it for some cash.
Morgan Dollar Value
Coins minted by the US Government are still accepted as legal tender. As a special coin, however, the value of a Morgan Dollar coin heavily relies on the spot price of silver rather. This is why if you wish to sell your Morgan Dollar, you should keep track of silver’s spot price. You can learn more about it here: https://www.kitco.com/silver-price-today-usa/.
Morgan Dollar buyers also consider a number of other factors including the coin’s condition, production year, its mintmark, and design.
The Morgan Dollar coin was named after its designer, George T. Morgan – the United States Mint Assistant Engraver at the time. The coin’s obverse features a profile of the model Anna Willess Williams representing Liberty. On the other hand, the coin’s reverse depicts an eagle that has its wings stretched out. If present, the mint mark on a Morgan dollar appears on the back of the coin, above the letter “o” in the word “Dollar.”
Sell Your Morgan Dollars
Nevada Coin Mart is the best place where you can sell your Morgan Dollars. Being in the buying business for over 25 years, the shop has proven itself to pay the highest amount of cash in exchange for silver coins and silver jewelry. Don’t get it wrong, though. The team of professional buyers also accepts a wide array of items, from silver scraps to loose diamonds. This winner of the Best of Las Vegas awards is located at 4065 S. Call us at 702-998-4000 or visit us at Jones Blvd in Las Vegas, NV 89103. Their shop is open from 9:00 a.m. to 6 p.m. each and every day of the year.
When the US Government enacted the Coinage Act of 1873, they also passed the Bland-Allison Act as well, which allowed the coinage of the Morgan Dollar. This Act also required the Treasury to purchase around $4M’s worth of silver at market value. The US Mint was to coin these pieces of silver into dollars every month.
In 1890, the Sherman Silver Purchase Act repealed Bland-Allison Act. This new Act required that the Treasury purchase 4.5M toz or around 140,000 kg of silver monthly and continue further productions of silver dollars for only one more year. However, in 1893, this act was repealed once more. During this time, a lot of individuals started selling Morgan dollars off their collection.
In the year 1904, silver reserves became depleted. Hence, the halt in the production and striking of the Morgan Dollar. Mintage of the Morgan dollar only resumed in 1921, pursuant to the Pittman Act, which authorized the melting and recoining of silver dollars.