Buy Silver Dollars Cheap
The first US dollar coin with a $1 (USD) face value was the 1804 silver dollar. It featured a right-profile bust of Liberty on the obverse. Silver dollars, and the $1 denomination, were sparsely minted between 1804 and 1836, with the Gobrecht dollar minted at times during this 32-year period.
buy silver dollars cheap
Although these silver dollars are no longer issued, they are not impossible to find. In fact, plenty of examples of these coins remain as both graded collectible items and former circulation coins available as affordable investment options due to the purity of the silver contained within.
The United States Mint no longer strikes true silver dollars. While various coins with a silver appearance have been struck over the year, only the coins mentioned above are true silver dollars. Each one contained a true silver content of .900 silver. Known as 90% silver coins, these products are popular as an entry-level investment option for those looking to buy silver at affordable prices. Previously circulated silver dollars have signs of wear and tear from handling, but still hold investment value due to the .900 silver content. Additionally, rare pieces from these series that earn certification from the NGC or PCGS are ideal additions to any personal coin collection as a living piece of US coining history.
You can find these US silver dollars and others available in the JM Bullion catalog. If you have any questions, we encourage you to reach out to JM Bullion at 800-276-6508. You can also connect with us online through our live chat and email address features.
Prices for American Eagles are based on the prevailing price of gold, silver, platinum, or palladium plus a modest premium to cover minting, distribution, and marketing costs. Prices change on a daily basis, as the gold, silver, platinum and palladium markets fluctuate.
Provident Metals is proud to offer an outstanding selection of United States silver dollars, allowing our investors and collectors the flexibility of selecting from a variety of fine American silver coins. Some of our Morgan and Peace dollars are in brilliant, mint-state condition, some in near-mint condition, and still others in almost mint condition.
We have United States silver dollars in our collection that were issued as early as 1884 to as late as 1921, but all are produced with 90% Pure .7734 Troy Ounces of Silver. All of these coins represent a piece of American history and pride, and all were struck with great care by the United States Mint. They are all legal tender in the United States that can be used for the purchase of goods and services, but today, their value in silver bullion far outweighs their stated face values of one dollar. Morgan Dollars were minted from 1878 through 1904, and again in 1921 and replacing them, Peace Dollars were produced from 1921 through 1928, and again from 1934 through 1935. Both coins were produced at three mints including the following: Philadelphia (no mintmark), San Francisco (S), and Denver (D). Both are composed of .900 fine silver, yielding a total silver content of .77344 troy ounces per coin, and measures 38.1mm in diameter. By law, the Peace Dollar shared the same design requirements as its predecessor, the Morgan Dollar, and therefore, both feature a profile of Lady Liberty on the front of the coin and a unique eagle design on the reverse side.
Because of thier fine silver content, their place in American history, and their classic artistry, both the Morgan and Peace Silver dollars are coins that will be a treasured addition to your fine silver collection! Provident Metals offers many years and issues to choose from, and our on-line ordering system will ensure both a swift and secure delivery of your historic Silver Dollars. Select as many issues as you see fit, and build an impressive collection of these outstanding U.S. coins.
The Mint Act of April 2, 1792 made it possible for the United States to strike its own coinage. This Act was especially important in the history of the United States, because it established the U.S. Mint in Philadelphia and specified the Silver Dollar as the highest-denomination silver coin.
The first U.S. Silver Dollars were struck in 1794, but American merchants kept the heavier and more valuable Spanish coins for themselves and exported the lighter U.S. coins to Europe for trade. As a result, U.S. coins disappeared almost as fast as they were minted. For this reason, Silver Dollar coinage was suspended in 1804. In 1836, Congress re-established the Silver Dollar (with a slightly lighter weight of 26.73 grams), and by the 1840s, they were being issued for general circulation once again. Even at this time, most Americans rarely saw a Silver Dollar in circulation, because most were held in bank vaults, exported, or melted for their precious silver bullion. This situation led to the Act of 1873 which eliminated the Silver Dollar from regular U.S. coinage altogether.
The Bland-Allison Act was written by Representative Richard P. Bland with amendments made to it by Senator William B. Allison. It was passed in Congress in February of 1878. This act restored silver as legal-tender. It also included verbiage stating that the government would mint 2 million silver dollars per month, leading to the origin of the Morgan Silver Dollar.
Morgan Silver Dollars were minted continuously from 1878 until 1904. By the early 1900s the Comstock Lode was exhausted and the silver bullion supply ran out. As far as Morgan and the rest of the nation was concerned, the era of the Silver Dollar had come to an end. By this time, most Americans preferred to use paper money instead of carrying around heavy Silver Dollars. In fact, Silver Dollars circulated widely only in the sparsely-populated West, but in the rest of the country they were stockpiled in banks and U.S. Treasury Department vaults. In 1918, Congress passed the Pittman Act to replenish the government's reserves of silver bullion by officially melting millions of the Morgan Silver Dollars stored in Treasury vaults. As a result, over 270,000,000 Morgan Dollars were melted - almost half the entire mintage from 1878-1904. The Pittman Act also required the government to purchase more silver to replace the melted coins, so the Morgan Silver Dollar was briefly revived one more time in 1921 until it was replaced later in the year with the Peace Silver Dollar.
The majority of Morgan Dollars found today can be linked to one of four major hoards. These hoards are known as the Treasury Hoard, the Redfield Hoard, the Continental Bank Hoard and the Casino Hoards. Morgans in these hoards were generally kept in bags, hence the "bag marks" you will find on Morgans today. Bag marks are caused from the coins coming into contact with each other. In total, the number of coins that have survived to this day are small. One leading authentication service estimates that they have seen 1.4 million of these historic silver dollars. The actual number may be greater than this, but in comparison with the number minted, that figure is staggering.
This large, heavy, handsome, historic silver dollar was named after its designer, George Thomas Morgan, the 7th Chief Engraver of the U.S. Mint. His iconic design is one of the most recognized coin designs in the world. Born in 1845, Morgan attended the Birmingham Art School before winning a scholarship to the prestigious South Kensington Art School in London. After running his own engraving business in London, he became an Engraver at England's Royal Mint. There, he continued to learn under the watchful eye of the legendary English engraver, Leonard Charles Wyon. In mid-1876, Morgan's career took an unexpected turn. The Deputy Master of The Royal Mint received a letter from the Director of the U.S. Mint in Philadelphia, H.R. Linderman, asking if he knew of someone who could fill the position of Assistant Engraver of the U.S. Mint. The Royal Mint recommended Morgan - and after examining samples of Morgan's work, Linderman offered him the post of "Special Engraver" for $8 per day. Upon his arrival at the U.S. Mint in Pennsylvania, Morgan was assigned the task of designing the Silver Dollar and working on patterns for the Half Dollar. At this time, the U.S. Mint struck no circulating Silver Dollars, but the Mint realized it was only a matter of time before a Silver Dollar would be called for once again. They wanted to be ready when the time came.
By the time he eventually retired in 1924, George T. Morgan had worked at the U.S. Mint for an amazing 48 years. During this time, the United States went through many changes as the "Age of Technology" became a reality. This was also one of the most exciting and turbulent periods in United States history, and Morgan was witness to dramatic changes taking place all around him - from the winning of the West to World War I, and from the Wright Brothers' flight to Babe Ruth taking the baseball world by storm. Through it all, the one constant factor was the Morgan Silver Dollar, which even then was respected for its beauty and silver heft.
Morgan Dollars are large and heavy coins that are made out of silver which is relatively soft and malleable. The large size of the Morgan Dollar makes it difficult to strike up the design fully. Five branches of the United States Mint manufactured Morgan Silver Dollars: Philadelphia, New Orleans, Carson City, San Francisco, and Denver (in 1921 only). The quality of the strikes vary from strong to weak, depending on the year and mint.
Circulated US junk silver coins are sold in assorted bags with little or no premium over the spot price. Typically these contain silver coins with varying levels of purity and can be found at different prices ranging from 100 to 1000 dollars. This is literally the cheapest way to buy silver. You can find 90% silver coins in these bags as well. However, investing in these bags requires a large amount of investment, as one cannot strike lucky by buying just one bag. Only after buying several bags can one extricate enough silver to justify the investment. Additionally, as a speculator, you would need to go through the bags and segregate the coins to identify the ones with the highest amount of silver. So, it may not be the smartest and the best way to buy silver, in spite of the prices. 041b061a72