Today, few forms of currency are worth more than the value printed on the currency. This is the situation for the silver dollar. At a store, these are worth, well, a dollar. But the reality is that they are actually worth much more than that. They have stood the test of time by increasing in value with age. Because of this, the silver dollar can withstand any economy and any situation.
This article looks to examine today’s value of older silver dollars and the most recent produced ones. It will also look at how it has stood the test of time in terms of value.
What Is Silver Dollars Value Based On?
You may think that the value of silver has a lot to do with the value of a silver dollar. It does play a small role, but the value resides in aspects such as a coin’s grade, age, and historical significance. The grade of a coin is dependent on the amount of wear on the coin. The article “How to Grade Peace Silver Dollars-What is the Grade of My Peace Silver Dollar?” explains the grading technique in more detail. Essentially, the coins are graded on a sliding scale in terms of “About Good 3” to “Mint State-65.” Variables that affect the grades include wear, detail, abrasions, etc. A perfect coin is in “Mint State-65.” These will pull the most money.
How Much is a Silver Dollars Worth?
When you hear someone refer to a silver dollar, they are likely referring to a coin minted between the 1870s and the 1930s. While there are still coins minted in the United States, they no longer carry that name. The current silver coin being minted carries the name “American Silver Eagle Bullion,” because, in fact, it is actually a bullion. The most popular one is the older Morgan Silver Dollar. It was minted from 1874 to 1904 and then once more in 1921.
Morgan Silver Dollar
The Morgan Silver Dollar’s value fluctuates, especially depending on the year and rarity, among other factors. The circulated usually value of it is between $15-$30. If it’s an uncirculated coin, the Morgan Dollar’s value rises to between $30-$50 in good condition. This is not to say that there aren’t exceptions to this. Some are worth far more. For instance, the 1893-s can go for $2,000-$3,000 in good condition.
This video “ Morgan Silver Dollar Values- Quality Silver Bullion” covers how these rates can vary. Towards the end of the video, the author discusses how the 1893-S he has could go for at least $5,000 in its current condition.
Peace Silver Dollar
Other older type, such as the Peace Silver Dollar, which was released in the 1920s and the 1930s is worth around $15-$20 in “good condition.” This is only 90% silver, as opposed to the Morgan dollar which is 99.99%.
Peace Dollars also can hold significant value, such as a rare 1922 High-Relief Proof Coin that was featured on the History Channel show “Pawn Stars” in 2014. That coin was valued between $50,000-$100,000.
American Silver Eagle Bullion
American Eagle Silver Eagle is the current official silver bullion of the United States. It has been minted since 1986 and features one troy ounce of silver. It is also the only coin in the world to have its composition be guaranteed by the issuing agency. There have been over 200 million of these minted, which makes it the most successful coin.
Value and Worth
The American Eagle Silver Eagle carries the $1 amount on it as a tip of the hat to past silver dollars. Because the number is symbolic, the United States mint is able to sell them for more than their face value. However, the coin is considered legal tender and is worth $1 if you tried to spend it.
The value of these coins, like the other coins discussed, is largely dependent on its grade, historical significance, age, etc. These coins fall into a similar pricing structure, as they can be bought for around $15-$20 on the low end.
Why Silver Dollars Stand The Test of Time
Silver dollars stand the test of time due to the nature of the coin. First, it contains silver. It is one of the most affordable rare metals you can get. Its prices can fluctuate pretty heavily, but the values of these coins aren't based off the silver value.
The real value of these coins is in the age, historical significance and the amount of which were minted. Because of this, these coins are able to maintain their value much easier than being based off the price of silver. That is why, many opted to invest in silver dollars. Check out our main page Personal Income to learn more about investing.
However, on the other end of the spectrum, if the coins lost their value, they could always be broken down and sold at the silver value at that time to be re-purposed. You can learn more here on how to invest in silver bullion.
Silver dollars have managed to not only keep their value, but even grow in value over their lifespan. Even today’s silver bullion has seen a growth in what it is worth in just a few decade’s time. This is due in part to the value rising steadily over the last decade, but also a higher demand for the coins.
The silver dollar is able to stand the test of time due to the fact that it is not tied directly to the price of itself. The prices have fluctuated greatly over the last 100 years, while the silver dollar coin value has continued to go up. This is due to the valuing process of the coins, in which coins are valued not by their content, but their age, historical significance, and rarity.
If you're considering venturing into precious metals, it is best to get yourself well-versed on not just their value, but also on techniques on how to maximize that value and all its fluctuations so that you get yourself some decent returns. Here's an interesting webinar to get you started.