January 23rd, 2012 — 1896 Silver Dollar, Coin Collecting, US Coins
An 1896 silver dollar is one of the Morgan dollars that were minted from 1868 to 1904, and then later again in 1921. The image on these coins was designed by George T. Morgan, and while his dollar is a collector favorite today, easily found in online auctions, they were virtually ignored when they were created.
By 1873, the American collar coin was discontinued. Paper money was favored over coins. So when the large, Morgan dollar came onto the scene in 1878, few people were interested in using them. After the Comstock lode was discovered in Nevada, America’s richest silver strike to date, it was necessary to use that silver to keep Nevada’s economy from collapsing. Pressure was put on the government to make a silver dollar, so the US Treasury, despite the veto by President Rutherford B. Hayes, purchased a few million dollars worth of the silver for coinmaking. Some of that silver was used in the 1896 silver dollars, as well as other dollars from that era.
Morgan, a native of England, was brought over to be an engraver for the director of the Philadelphia Mint. Morgan’s design competed with the design by the normal designer and Chief Engraver, William Barger. Morgan’s coin was chosen, with its head of Lady Liberty on the front and a small eagle on the back. Soon after, Morgan became Chief Engraver and remained there for over 40 years, then became Chief Engraver for the United States Mint in his 70s. The 1896 silver dollar as well as all Morgan dollars produced, bear the distinction of being the only American coin Morgan ever designed.
Less than two weeks after Congress authorized the minting, the first Morgan dollars were struck, on March 11, 1878. Philadelphia produced most of the Morgan dollars, but a small mint in Carson City near the silver Comstock lode produced some dollars of that era. Though that mint closed in 1893, after the mine was essentially emptied of silver. The 1896 silver dollars was one of the 500 million Morgan dollars minted between 1878 and 1904. Despite their numbers, the coins weren’t popular with consumers. There were many used coins, in fact, that in 1918, over 270 million were melted to provide Great Britain with silver during the war. Morgan dollars were produced again in 1921, to the tune of 86 million, but stopped the following year so that the Peace dollar, which became popular, could be produced to commemorate the end of World War I.
Millions more Morgan dollars, including the 1896 silver dollar, were melted down for their silver content in the following years. In fact, it wasn’t until 1972, when the General Services Administration auctioned 2.9 million Morgan dollars, the rare ones produced by the Carson City mint that closed in 1893, that the Morgan dollar interested collectors at all. Then LaVere Redfield, a stock investor who had hoarded 400 bags of Morgan dollars, died in 1974 and his 11 tons of Morgan dollars were auctioned for $7.3 million dollars, giving the Morgan dollar real status in the coin world.
Originally posted 2008-10-14 14:00:58. Republished by Blog Post Promoter
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January 13th, 2012 — Coin Collecting, Coin Value, Rare Coins, Silver Coins, Silver Dollars
Silver coins are among the most valuable of the coins people collect year to year. There are a few different reasons for this. Knowing the reasons for the silver coin value to go up will help you to understand whether you are getting a good deal on a coin you are looking to purchase or if you are purchasing something which is overpriced. You will also be able to determine whether your collection is of extreme value to other collectors or just to yourself.
Rare Coins Are Worth More
Coins which are rare will go up in value by a considerable amount. You can find out how rare a coin is by checking to see how many there are known to exist. The lower the number of coins that exist, the more valuable the coins are likely to be worth in the long run. Reasons for limited numbers can be for reasons of limited production, recalls or simply being a coin which was heavily used so it was heavily lost as well. Coins like the 1804 silver dollar have less than 20 in existence and have extreme silver coin value as a result.
The Purer the Coin
Most silver coins are not made with pure silver. This is because silver has always had value. To make sure that the coins were not originally worth more than what they were struck as, they were melted and struck with other metals mixed in. These were usually sandwiched between silver layers. The more silver there is in a coin, the more it will be worth. This is both because the purer coins are rarer as well as the fact that the higher the purity of the coin, the more the silver coin value.
Grading is Very Important
One of the best ways to determine the silver coin value is to determine the grade of the coin. In general, all things being equal the grade of the coin from one level to the next will cause the value to jump two to three times. This is taking into account mars and markings which the coin might have picked up along the way. The closer the coin is to Mint State, the more it is worth. The most expensive coins are those which appear as if they have never been touched or damaged.
The Value of the Metal Itself
There are times when a coin has been forged or it has been used so heavily that it has no trade value at all. The only silver coin value you will be able to find is in the bullion market itself. This means that the coin will only be worth its weight. This is still a pretty good way to get some cash because the best forgeries still use pure silver as a way to make it appear as if the coin is worth a lot more than it actually is. While you might not have a $10 million piece, you might still have something worth a few hundred.
Photo Credits: kevindooley
Originally posted 2010-09-03 09:17:02. Republished by Blog Post Promoter
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1896 Silver Dollar Coins & Paper Money -> Coins: US -> Dollars An 1896 silver dollar is one of the Morgan dollars that were minted from 1868 to 1904, and then later again in 1921. The image on these coins was designed by George T. Morgan, and while his dollar is a collector...... -
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January 9th, 2012 — Coin Collecting, Coin Value, Silver Coins, Silver Dollars, US Coins
The most valuable silver dollar is the 1804 Silver Dollar with the Draped Bust. As a side note, this coin is not only the most valuable in the silver coin category; it is presently the most valuable in the world. As with any coin, there are a few different reasons for the extreme value of the coin. Taking a closer look at these reasons will help you to understand more about coin collecting in general and what factors a coin can have in order to make it one of the most valuable coins available.
Much of what makes the 1804 silver coin so valuable is the rarity of the coin. Only 15 specimens are known to exist. This is out of the less than 20,000 which were originally produced in 1804 and in 1834. The tale of the coin has a lot to do with the value of the coin as does the beauty of the coin. These are just a few of the factors which make the Draped Bust one of the most valuable coins in American history and one of the coins which stands among the most valued in the world.
Rarity of the Coin
The rarity of the silver coin has a lot to do with the value of the coin itself. This is why a coin which has only 15 left in existence is such a valuable coin While many of the coins ended up residing in Siam and Oman, the rest of the coins live in museums like the Smithsonian Institution and the American Numismatic Association Museum. There are only six coins known to exist in private collections. There have been many fakes, but because of the difficulty of reproducing such a coin, most have been discovered.
The Story of the Coin
The original 1804 silver coin was created in 1804 based on the 1803 die. This was a way for the Mint to be able to save money in order to produce the coins which were needed in circulation. Less than 20,000 of these coins were produced making them few in number to begin with. In 1834 the government reused the die but kept the 1804 date. This was confusing to many people. The coins were then given as gifts to Asian countries to thank them for maintaining trade with the United States. Between 1858 and 1860 there were two versions of the coin which were struck by Theodore Eckfeldt. These comprise the Class II and Class III versions of the coin and were not intended to be distributed. All of the class II coins were seized by a handful of the Class III coins got out to the public.
The Beauty of the Coin
The “>silver coin was created with the intent to look beautiful and its portrayal of lady liberty on the obverse is one of the most striking features. The eagle on the reverse is also quite striking in its use of stars olive branches, arrows and other embellishments.
Photo Credits: Legend Numismatics
Originally posted 2010-08-31 09:14:25. Republished by Blog Post Promoter
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December 30th, 2011 — Double Eagle, Nickels, Rare Coins, Silver Dollars, US Coins
For many people, coins are something you lose under the seat of your car or in the cushion of your sofa. They are tossed on night stands and left in pants only to rattle around in the dryer. It is hard for many people to imagine that coins may ever end up being worth in the millions of dollars. This is exactly the case for some of the rarest American coins out there. The conditions which cause the coins to be so valuable vary on the coin itself. The more you get to know about these coins, the more interesting it is to collect them.
By taking a closer look at the three most expensive American coins, it is a little easier to determine how they might have risen to the value that they are currently valued at. Whether you can purchase these coins, you will be able to understand their value and maybe even dream about the day when you too will be able to have one in your own collection. Among the three most valuable of the coins produced by America include the 1804 Silver Dollar, the 1933 Double Eagle and the 1913 Liberty Nickel.
1804 Silver Dollar
This coin is so rare because it has gone through two different wars in which coins have been melted to be reused for different items including other coins. Not many people were collecting coins during these time periods which explains why is one of the only American coins which is worth over ten million dollars. The beauty of the coin has a lot to do with its value in addition to the fact that there are only 19 coins which are known to exist. Finding a coin of this rarity in good condition is even rarer.
1933 Double Eagle
This coin is a well-known forgery since it is the rarest of American coins. This is not due to misuse or great numbers being lost or melted for other purposes. It is because the coin is actually illegal to purchase. There is only one such coin which has been certified as being legal to own though its whereabouts are in question to date. Other coins have turned up over the years and have been confiscated by the secret service. This all goes back to the executive order Franklin D. Roosevelt signed which was intended to recall all gold coins to stabilize the banking industry.
1913 Liberty Nickel
The value of this nickel is estimated at $5.9 simply because the coin was only created for one year and was not created by the U.S. Mint. Being the only of the American coins to be produced without permission, it has not been kept around. This is because most people tossed out what was considered at the time to be worthless. These days, there are only five of the Liberty Nickels known to exist and they are extremely valuable simply because of how rare they are.
Photo Credits: oceandesetoiles
Originally posted 2010-08-22 03:55:09. Republished by Blog Post Promoter
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December 12th, 2011 — Buying and Selling Coins, Coin Collecting, Coin Value, Silver Dollars, US Coins
There comes a time in every coin collectors life when they must sell one of the coins in their collection. Some do this voluntarily, as they do not want the coin in their collection anymore or are simply selling off their entire collection. Others are forced to do so, whether they need the money for other coins in the collection or need money for other aspects of their life.
There are some tricks and tips that will help you to sell a silver dollar. Following these various guidelines and taking these tips into consideration will help to give you a quick sale and a high-value sale.
Clean the Coin
The first thing that you are going to need to do when trying to sell a silver dollar is to clean the coin. You want the coin to look its best, and you want the coin to look like it has been cared for. If you do not know how to properly clean a coin with value, head to a local coin dealer. Ask them about their cleaning practices – they may even be willing to clean the coin for you. If you have not cleaned coins before, know that many popular forms of cleaning can actually damage the coin and lower the overall value of the coin. If you are selling a coin, you must clean it but be cautious of the method to ensure that you do not lose money.
Use the Internet
The Internet is going to be a great companion as you work to sell your silver dollar. The Internet is going to help you to promote your coin, whether it be through coin dealer website or online auction websites. It is also going to help you to stay up-to-date on current values for the exact coin you are selling. You can look at other sales and other auctions and have a better understanding of how much the coin is actually selling for. While a coin may have a specific appraised value, it is only worth as much as people are willing to pay for it.
Use Clear Documentation
Organization is the key to success for those who are trying to sell quickly. If you have clear documentation of your coin, you can quickly provide the information that a potential buyer will need. Have the coin appraised to provide a monetary value. List the type of coin, the year of the make, and the mint location of the coin. A photo of the coin will also be helpful for those who will be purchasing the coin online.
These are just a few of the different tips that you will need to put into play to sell your silver dollar quickly and easily. These tips are going to help you to go up against other coins with high coin collecting values and will help your coin to stand out. The more that you can make your coin stand out and the more that you can do to present your coin professionally, the easier the sale will be.
Photo Credits: kevindooley
Originally posted 2011-04-13 03:48:03. Republished by Blog Post Promoter
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October 26th, 2011 — commemorative coins, US Coins
The United States Mint gains authorization from the United States Congress to produce what are known as commemorative coins, which are produced rather regularly throughout the years for a myriad of different purposes. These coins are produced to commemorate, to celebrate or to honor people, events, places and institutions for a number of reasons. When it comes to commemorative coins and coin collections, these coins are typically divided into two different eras, Old and Modern. Old commemorative coins are coins between 1892 and 1981, and Modern commemorative coins are coins from between 1982 and present day.
There have been a wide variety of different people that through the years have been memorialized in the form of United States commemorative coins. Benjamin Franklin, Thomas Edison, Leif Erickson, Christopher Columbus and Chief Justice John Marshall are all examples of people that have been commemorated in this fashion. Ulysses S. Grant, Queen Isabella of Spain and Daniel Boone have also been commemorated in this way in the past as well.
There have also been a number of places that have been honored through the creation of commemorative coins, including the White House, West Point and the Smithsonian. The White House was honored with a 200th Anniversary commemorative coin in 1992. The West Point military school was honored in 2002 for their Bicentennial. The Smithsonian was honored in 1996 for their 150th anniversary.
There have also been a number of events that have been honored through the creation of commemorative coins. The Korean War was commemorated in the form of a Silver Dollar in 1991, and then the Vietnam War received a similar Silver Dollar commemorative coin in 1994 after its memorial’s 10th anniversary. These commemorative coins were created not only to commemorate the creation of the memorials, but also to honor the men who died during those wars.
The Statute of Liberty has also been honored through the creation of numerous commemorative coins. In 1986, three commemorative coins were created to honor the Statue of Liberty, including a half dollar coin, a silver dollar coin and a $5 golf coin. The Statue of Liberty is not only a place worthy of being honored, but the commemorative coins are also meant to honor freedom, democracy and the gift from France to the United States represented by the gift of the statute.
Collectors may choose to collect different commemorative coins depending on what concepts their collections are aimed to symbolize. There are commemorative coins for many different purposes including the Olympic games, the bill of rights, World War II, the civil war battlefields, the Bicentennial of the constitution, desegregation at the Little Rock Central High School, the first flight on the behalf of the Wright Brothers and many others. No matter what type of coin collection you are creating, there are commemorative coins that will fit right in.
Photo Credits: kevindooley
Originally posted 2009-06-27 05:43:11. Republished by Blog Post Promoter
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