Pre '21 Morgan Silver Dollars

Morgan Dollar Coin – 1878-1904 BU

The Morgan Dollar is an American classic for a reason. This coin is a fantastic specimen and has been kept in Brilliant Uncirculated (BU) condition. Our decades of combined experience as numismatics experts has helped us identify and sell Morgan Dollars in excellent condition to our customers. These coins come from a random year – except for 1921. We recommend stacking numismatic coins with a variety of different conditions. We’re impressed by the tone and luster of these classic coins, and we’re sure you will be, too. 

Morgan Silver Dollar Coin – 1878-1904 VG+

Not all coin collectors are looking for BU Morgan Dollars to stack. If you’re trying to buy a cheaper Pre 21 Morgan Silver Dollar, consider our VG+ coins. These collectables won’t be in perfect condition, but they’ll be rated VG or better when they’re shipped to you. Celebrate the history of the Morgan Dollar by taking a look at a coin that has actually traded thousands of hands throughout its life cycle. Though these coins have been circulated, they maintain their original, beautiful artwork and are still in an excellent condition. 

Shop Pre ‘21 Morgan Silver Dollars – Hero Bullion

There’s a reason why Morgan Silver Dollars have become a staple for investors all around the world. The coins feature impressive designs, high historical value, and exceptional demand from collectors. Ever since these coins were first released, they’ve been some of the most sought-after numismatic coins for collectors. 

Hero Bullion sells a wide range of Pre ‘21 Morgan Silver Dollars. Whether you’re looking for a common year or a rare coin from a low mintage run, we’ve got you covered. Scroll up to see our current inventory of in-stock Pre ‘21 Morgan Silver Dollars. Keep reading for more information on everything you need to know about Pre 21 Morgan Silver Dollars. 

What Are Pre 21 Morgan Silver Dollars?

Morgan Silver Dollars can be divided into two main time periods. From 1878 to 1904, Morgan Silver Dollars were minted for the first time. The series was discontinued until 1921, when it was revived for just one year. 

Collectors often draw a distinction between Pre ‘21 and 1921 Morgan Silver Dollars because of the time difference between the two minting runs. To some investors, Pre ‘21 Morgan Dollars are the best way to invest in historically and numismatically valuable U.S. silver dollars. 

A Brief History Lesson: Morgan Dollars

The first Pre 21 Morgan Silver Dollars were minted in 1878. The coin’s release came at an important time in American coinage history, since they were the first silver dollar minted following the 1873 Coinage Act. Before 1873, the United States Mint followed the “free silver” movement. 

Under the free silver movement, silver stackers could bring any amount of silver to the U.S. Mint and have it converted into silver dollars. While this was great for coin enthusiasts, it created a problem for the economy: it led to a lack of standardization within silver coin mintages. 

But the Morgan Silver Dollar came after the U.S. Mint transitioned away from this system, which allowed the mint to completely control the number of silver dollars that would be minted and enter the market. 

Are Pre 21 Morgan Dollars a Good Investment? 

Pre ‘21 Morgan Dollars are a great investment. Since these coins were minted before the United States stopped using real silver in their dollar coins, Morgan Dollars on our site are minted using .90 fine silver bullion. 

But these coins also have quite a bit more to offer than just pure silver. To many investors, Pre 21 Silver Dollars represent some of the very best that the United States Mint has to offer. From their groundbreaking, influential designs to their strong history of value to numismatic collectors, Pre 21 Morgan Dollars are a certified classic. 

Pros and Cons of Pre 21 Morgan Dollars

Are Pre ‘21 Morgan Dollars a good choice for your growing precious metals portfolio? Pre 1921 Morgan Dollars are a unique way to invest in silver, so they’re certainly not for everybody. Although these coins often come saddled with high premiums compared to modern bullion coins, Pre ‘21 Morgan Dollars offer both pros and cons to coin collectors and silver investors alike. 

Pros of Investing in Pre 21 Morgan Silver Dollars

There are 3 main pros to investing in Pre 1921 Morgan Dollars: historical and collectable value, pure silver content, and ease of resale. When we combine these impressive benefits, it becomes clear that Pre ‘21 Morgan Silver Dollars are an efficient way to diversify your portfolio with historically important bullion coinage. 

Historical/Collectable Value 

The historical importance of Pre 1921 Morgan Dollars is undeniable. These coins are a massive hit from their release, and the popularity of Morgan Silver Dollars hasn’t waned in the 100+ years since they were first circulated by the United States Mint. 

Today, Pre 21 Morgan Dollars are an important asset to coin collectors all over the world. We recommend adding numismatic silver to your silver stack for a couple of reasons. First, numismatic coins are just cool. They offer a glimpse into a bygone era of American coinage. Second, numismatic coins can diversify your portfolio by helping you secure profit during times when the general silver market is down. 

Pure Silver Bullion 

Another important advantage of stacking Pre 21 Morgan Dollars is their high silver content. Modern U.S. Mint silver bullion coins contain a standard purity of .999. By contrast, Pre 21 Morgan Dollars are minted with .90 fine silver. This means that Pre ‘21 Morgan Dollars are only a little bit less pure than 2024 American Silver Eagles. 

Some investors balk at the diminished purity of Pre 21 Morgan Dollars. To us, it’s a bit of a non-issue. These coins do contain actual silver, and they make up for a lower purity with exceptional historical and numismatic value. 

Easy to Resell

Because of their popularity with collectors, Pre 21 Morgan Silver Dollars are easy to resell. We often recommend a holistic approach to evaluating silver investments. It isn’t always about silver content alone. 

Luckily for investors, Pre ‘21 Morgan Dollars combine .90 fine silver with an unprecedented level of investor demand and collector interest. In other words, these coins are valuable to both coin collectors and pure silver stackers. 

Cons of Buying Pre 21 Morgan Dollars

Pre 1921 Morgan Dollars also come with a few notable downsides. Three main cons to buying Pre 21 Morgan Silver Dollars include their limited variety, circulated condition, and high premiums. 

Limited Variety

This con to buying Pre 1921 Morgan Dollars should be obvious. Throughout the 26 year initial minting run of the Morgan Dollar, the coin’s design didn’t really change at all. Investors looking for some variety in their numismatic silver dollars should look at several numismatic coins. 

If you buy Pre 1921 Morgan Dollars alone, prepare to see very little variation in the coin’s design over the course of its first minting run. This isn’t necessarily a bad thing. For numismatic collectors, the fun of collecting a coin series is looking for error coins or finding all of the rare mintage editions available for a given specimen. 

Not BU Condition 

Most Pre 21 Morgan Dollars aren’t sold in Brilliant Uncirculated (BU) condition. The vast majority of specimens are sold in circulated condition, which means they’ll bear the marks of having been worn down over years of use. 

Again, this isn’t a huge deal to most numismatic investors. Pre 21 Morgan Dollars are collectable coins minted over a century ago. Seeing their marks and blemishes isn’t a bug – it’s a feature of stacking old silver dollars. 

High Premiums 

Silver coins in general are known for their high premiums over spot price, but this is especially true for numismatic coins. Coins with historical value are frequently sold with exceptionally high premiums over their melt value in pure silver. 

For investors, this could be a risk worth taking. We recommend taking stock of what your goals are when stacking bullion. If you’re willing to pay an inflated premium in order to collect coins with high numismatic value, Pre 21 Morgan Dollars are a good choice. 

Some stackers, on the other hand, are primarily concerned with buying low premium silver bullion. If this is you, it might be best to skip the numismatics and focus on bullion bars and certain low-premium rounds. 

Final Thoughts: Pre 21 Morgan Dollars from Hero Bullion

Pre 21 Morgan Dollars are a fantastic choice for investors who want to diversify their portfolios with classic American coins. These coins were minted before the 1921 revival of the Morgan Dollar series, and they represent the very best of the U.S. Mint’s work. 

If you’re looking to start stacking beautiful Pre 21 Morgan Dollars, Hero Bullion has you covered. We offer a wide variety of Pre 21 Morgan Dollars at some of the lowest premiums you’ll find anywhere.