Morgan Silver Dollars

Morgan Silver Dollars are the silver coins that started it all. Even today, the influence of these circulation coins reverberates all over the American precious metals market. Is it time to add cheap, beautiful Morgan Silver Dollars to your silver stack? 

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Morgan Silver Dollar – Brilliant Uncirculated

Available in Brilliant Uncirculated (BU) condition is the 1921 Morgan Silver Dollar. This coin features few or no blemishes on the coin face and will arrive as a near-perfect specimen for your collection. Like all Morgan Silver Dollars, the coin includes an obverse depiction of Lady Liberty. Here, she wears a bonnet, as well as a headband inscribed with “Liberty.” On the reverse, the coin highlights George T. Morgan’s classic depiction of the American bald eagle. The eagle holds both a bundle of arrows and a single olive branch in its mighty talons. Oh, and did we mention that this coin was minted using .90 fine silver bullion? 

2023 Morgan and Peace Silver Dollar Set 

To the excitement of all silver coin investors, the U.S. Mint decided to re-release its most widely celebrated circulation silver dollars in 2023 – but with a twist. These coins have been certified by one of the world’s main coin grading companies and will arrive in the best possible grade that can be given to a coin. Each set includes both a Morgan and Peace Silver Dollar. Instead of the .90 fineness of their predecessors, these coins will instead feature a groundbreaking silver dollar purity of .999. As a collectable item, these sets will go quickly. A limited mintage makes them a highly sought-after asset for numismatic coin collectors. 

Buy Morgan Silver Dollars with Hero Bullion! 

No silver collector can deny the importance of the American silver dollar to the history of coinage. Since its inception in the earliest days of our republic, the U.S. Mint has produced beautiful, valuable currency dollars with designs that remind us of the shared culture of the United States and its peoples. 

The Morgan Silver Dollar is, in many ways, the father of all modern American coins. Its tremendous success helped to inspire countless silver bullion circulation coins that followed it. Even today, we can see the influence of the Morgan Silver Dollar on the .999 fine silver bullion coins coming out of the United States Mint. 

Hero Bullion sells a wide range of Morgan Silver Dollars. Starting in 2023, we also offer a very limited number of Morgan and Peace Silver Dollar Sets, which are struck with .999 fine silver bullion and come shipped in their original certification cases. 

At the top of this page, you can find a list of our entire in-stock selection of Morgan Silver Dollars. Still not convinced that this historic coin has a place in your portfolio? Keep reading for a full guide on buying cheap Morgan Silver Dollars. 

What is a Morgan Silver Dollar? 

The Morgan Silver Dollar is one of the earliest circulation silver dollars produced by the United States Mint. Compared to modern coin series, the Morgan Silver Dollar had a relatively short run. It was only produced from 1878 to 1904, with two main exceptions. In 1921 and 2021, the U.S. Mint re-released the coin for investors and collectors. 

Like all coins, the Morgan Silver Dollar features both an obverse and reverse designs. The obverse, or front, of the Morgan Silver Dollar features the portrait of Lady Liberty. Here, she’s depicted by model and scholar Anna Willess Williams. Liberty wears her hair in flowing curls, and a bonnet adorns her head. Thirteen stars decorate the coin around Liberty. 

On the reverse, the Morgan Silver Dollar’s image should come as no surprise. Morgan Silver Dollars feature an image of the American bald eagle as imagined by mint artist George T. Morgan. The bird flies through the air with both a bundle of arrows and a single olive branch in its talons. 

This coin, like all coins minted during this period of American history, contains .90 fine silver bullion. 

History of the Morgan Dollar

The Morgan Silver Dollar was initially released in 1878 after being approved by the U.S. Mint. Mint artist George T. Morgan was tasked with designing the coin. Following its release, it was met with extreme interest from collectors, who appreciated the attention to detail and artistry on both sides of the collectable silver coin.

2023 Morgan and Peace Silver Dollar Sets

Unfortunately, the success of the Morgan Dollar was relatively short lived. In 1904, the coin was pulled from the U.S. Mint catalog and replaced with another silver dollar, the Peace Dollar. Still, the Morgan Silver Dollar is an extremely influential coin of tremendous importance to the history of American silver coinage. 

Who is on the Front of the Morgan Silver Dollar? 

The obverse of the Morgan Silver Dollar features the portrait of ‘Lady Liberty.’ Since Liberty isn’t a real person, mint artist George T. Morgan settled on Anna Willess Williams as his model. Williams herself was a philosopher and psychologist and had won several awards and publications for her research. 

Later in her life, she’d explain that she came to regret her modeling days. In one interview, she called it an “incident of her youth.” Despite her nonchalance about her work with the United States Mint, Williams’ legendary modeling helped set the stage for hundreds of years of iconic American coinage. 

Why Invest in Morgan Silver Dollars? 

Are Morgan Silver Dollars a good investment? Like any silver product, Morgan Silver Dollars come with both pros and cons. 

Pros and Cons of Morgan Silver Dollars

There are both advantages and disadvantages to investing in Morgan Silver Dollars. While these coins offer tremendous historical and numismatic value, they might come at a relatively high premium over spot. Let’s take a look at the biggest pros and cons of buying Morgan Silver Dollars. 

Advantages of Buying Morgan Silver Dollars

We’ll start with the positives. We highlight 3 main benefits to buying Morgan Silver Dollars for your silver coin collection: collectable value, beautiful designs, and pure silver content. For some investors, these three things are all you need for a successful silver stack! 

1921 Morgan Silver Dollar Coin - BU
1921 BU Morgan Silver Dollar

Collectable Value 

Over time, Morgan Silver Dollars have increased in popularity among collectors. Some investors see them as one of the last great American silver dollars. After all, the United States Mint stopped making silver dollars with .90 fine silver quite some time ago. 

These coins also come at an important time in American history. Directly following the turn of the century and preceding World War 1, the Morgan Silver Dollar burst onto the scene during an essential transitionary period in American coinage – and government. 

Collectable value is one big reason that investors love the Morgan Silver Dollar. For investors who are set on diversifying their portfolio, we always recommend adding some numismatic coins like the Morgan Silver Dollar to your bullion stack. 

Beautiful Designs 

It’s undeniable that the Morgan Silver Dollar is a beautiful work of art in coinage. Modern coins certainly boast a higher cost of production, and coins like the American Silver Eagle look quite a bit more professional and artistically sound than the Morgan Dollar. 

However, a growing class of coin investors love the look and feel of classic American coins. To these collectors, the Morgan Silver Dollars represent a personal touch to coinage that has simply been lost to time. 

Morgan Silver Dollars might not offer the beautiful, technologically sophisticated artistry of the Silver Eagle, but they have a charm of their own that’s hard to pass up. 

Pure Silver

Of course, we can’t round out our list of the best reasons to buy Morgan Silver Dollars without mentioning the obvious. These coins contain .90 pure silver bullion. If you find the right dealer, you might actually be able to score more silver for your money buying silver dollars than you would buying bullion coins. 

It’s also worth noting that the Morgan Silver Dollar is actually one of the last American dollar coins to be minted with actual silver bullion. In 1935, the U.S. Mint ceased their production of silver dollars for general circulation. While the mint does release bullion silver coins even today, the Peace Dollar that directly followed the Morgan was really the last true silver dollar to come from the U.S. government. 

Morgan Silver Dollar Coin - 1878-1904 BU Reverse
1878-1904 BU Morgan Silver Dollar

The pure silver content of Morgan Silver Dollars is a massive reason to invest in this historically significant piece of American coinage culture. 

Cons of Morgan Silver Dollars

Morgan Silver Dollars are fantastic, but this doesn’t mean they’re without their drawbacks. Notably, we find two main cons to buying Morgan Silver Dollars: the difficulty of finding BU specimens and value fluctuations. 

Hard to Find BU Specimens 

Hero Bullion sells several Brilliant Uncirculated (BU) versions of popular silver dollars. However, it can be extremely difficult to find BU graded specimens of your favorite Morgan Silver Dollars. For some years with low mintage numbers, perfect examples of the coin could cost you thousands of dollars. 

Most investors operating on a small budget opt to spend their money on Morgan Silver Dollars in low or cull grade. Doing so can save you quite a bit of cash, as these circulated coins are usually much easier to find and buy at a discount. 

Value Fluctuations 

Morgan Silver Dollar values are determined by a number of factors. Silver’s current spot price is one thing, but these coins are also traded based on their numismatic or collectable value. When you combine all of these factors, you have a coin market that is subject to change quickly and without much notice. 

Some investors buy Morgan Silver Dollars because they’re excellent collectables. But for investors looking to profit in the long term, it can be tough to determine a fair price of these historical artifacts. Be sure to keep track of the current spot price of silver and watch auction prices to buy cheap Morgan Silver Dollars. 

Final Thoughts: Buying Cheap Morgan Silver Dollars

Morgan Silver Dollars are a pivotal part of coin – and American – history. Featuring a brilliant obverse depiction of Lady Liberty and a reverse that reminds us of America’s most enduring symbol of freedom, these .90 pure silver coins are a crucial part of many coin collections. 

Check out the top of this page for Hero Bullion current stock of Morgan Silver Dollars. Let us be your Bullion Hero!