Playing With Silver Dollars

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Now, I'm not an expert in this but last October we were organizing our garage and I found a little metal box. It was combination locked so I took a flat blade screwdriver and pried it open. Much to our surprise it had a wallet full of $2 bills and several zip lock bags full of silver dollars, 1/2 dollars, and miscellaneous coins.

I took a few of the silver dollars to a local reputable coin dealer and he gave me top dollar for them. There were two types of silver dollars in this find: Morgan and Peace. Morgan Silver Dollars were minted between 1878 and 1921 and Peace Silver Dollars between 1921 and 1935. I prefer the design of the Peace dollar. The designer/sculptor was Anthony de Francisci in 1921.


1922 Peace dollar


The Morgan Dollar was designed by sculptor George T. Morgan in 1878.





So, I started hunting for these two kinds of silver dollars on eBay and saw that there are thousands of them available at any one time. At this moment (2/09/2013) silver is valued at $31.42 an ounce and a lot of experts are expecting it to double by the end of this year, which would make it an amazing investment opportunity. One "expert" is saying that it's going to triple to $90 an ounce by the end of 2013. (He's probably selling silver....)

Anyway, it's been fun watching the activity. There is a company called Silver Saver that let's you invest in silver bullion on a monthly basis with a minimum of $50 per month and they will either ship you the silver or keep it in storage for you, if you prefer. I haven't done it yet, but it's definitely on the back burner.

I found that I could get more for my coins by selling them on eBay. There is a ready and waiting group of buyers. If you are going to purchase coins on eBay you have to be careful not to pay too much, and to buy from a reputable seller with lots of positive feedback. You can purchase the coins singularly, in groups or in rolls of 20. In the past I've done some mortgage investing, and stock market, but investing in precious metals seems more solid to me. Well back to fooling around....:)




A 1794 Flowing Hair Silver Dollar, possibly the first of its kind to be struck by the U.S. Mint in Philadelphia, sold at auction for a record-breaking $10 million, according to Reuters. This is the first single coin to break the eight-figure threshold and now stands as the world’s most valuable coin.

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Recent Comments

23

Keep the silver coins! They're worth far more than the US dollars you might be paid for them.

I agree with that. :)

This is quite interesting.

Hello Mandator: Thanks for reading the post. I agree - precious metals are very interesting. :)

You are absolutely right in every respect. Thanks for writing. Of course, the people telling you the market is going to double are selling. by coincidence, of course. Thansk

Hi Newtimes: Appreciate your looking at the post. :) John

Thanks for the info, Jonart. My son has a collection of silver dollars. Don't think he realizes the value. Will have to enlighten him.

You are very welcome, Lippc. It will be a nice asset for him in the future. :)

Yes, ALWAYS check the market first. - I was shocked recently when I wanted to sell a pair of rings: 1 was Gold, the other Platinum. - Believe it or not, at the time, Gold was going for more than Platinum was. - THAT was a kick in the head! - But at least I wasn't surprised when I went to the vendor! - LOL!

Yes, gold has come down a bit recently, but assuredly will be going up greatly in the next few years....thanks for reading the post....:) John

Nice ideas change for the better

Hello Wallhe: Thanks for looking at the post and glad you enjoyed it. Have a great week! :) John

Great post, food for thought,
Regards
Hudson

Thanks Hudson: Appreciate your looking at the post....:)

Coins may be a good investment. It's probably fun, also, but I haven't tapped into that. Yet.

Looks like you've got plenty of time to do that....It is fun :)

I have been collecting coins since childhood......interesting piece you wrote, thx.

Hi Exclusive: When I was a child I was more into stamps - wish I'd been more into coins then. :) Thanks for reading the post.

Thanks for the info. Many of those silver dollars were minted here in Nevada about 20 miles south of where I live. Glad to hear silver is starting to increase in value. Mining is a huge industry here in our state and we sure need the economic boost. Once those values go up the local mines will start more mining operations.

Thanks for looking at the post. They say that silver is becoming more and more scarce and that's what is going to boost the price.

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