Without denying that Morgan Dollars specimens are grades below AU-50, they have become very popular over the past few years mostly due to their affordability. In case you want to increase the value of your collection and make an investment for your future, here are 5 things you should know about Morgan Dollars.

1. The vast majority Morgan Dollars have never been in circulation

Even though over half a million specimens were minted at the end of the 19^th century, very few have actually made it out of the mint until the 1960s. Not only were the coins very unpopular when they first came out, but it is said that three quarters of the coinage was melted down before being released. However, all that was about to change once the public found out that there are less than 3 million specimens on the market and hence, the scarcest Carson City coinage in existence. This piece of information is important because you will come across a lot of uncirculated Morgan Dollars for your collection, which makes them less pricy than some telemarketers would lead you to believe.

2. Always verify the source of the grade

Verifying the source of the grade is not only applicable for Morgan Dollars, but a precaution to account for with all rare coins. For starters, because there is a significant price difference between the MS-65 and the MS-63 specimens, you will avoid being scammed. Moreover, dealers and grading services in general don’t work with the exact grading standards. If you’re looking to make a solid investment, then go for the coinage graded by the PCGS and NGC, since both authorities are renowned for non-subjective, consistent and precise grading standards.

3. The highest grade specimens have a greater resale value

Considering that most Morgan Dollars available exist in higher grades compared to other series, it is only natural that you should aim to acquire the highest grade specimens. To put it simply, to enhance the value of your coin collection, start looking for very high grade specimens, like the one from the MS-65 series or better. Without denying that they’re expensive compared to other Morgan Dollars specimens, their rarity makes them a good investment with a high ROI potential.

4. Inform yourself before investing

As a coin collector, you will come across numerous individuals who’ll try to take advantage of you. However, just because a coinage is old and in mint state doesn’t automatically make it extremely valuable. For instance, while most Morgan Dollars from the MS-63 series usually sell for up to $70 each, you might be surprised to see the same specimen being sold for $700 by some shady characters. In order to avoid such rip offs, you should get the U.S. Coins Red Book and educate yourself about the true market values of Morgan Dollars.

5. Morgan Dollars are best kept in a personal vault

However strange it might seem, some collectors choose not to take the delivery of their coins and allow the dealer to keep the coinage safe for them. Needless to point out why you should never do that, especially since the investment in Morgan Dollars means an investment in your financial future. The best approach is to store them a proper fire-proof vault or put them in safety deposit box.