You may be wondering what Morgan dollars even are. If so, then you're probably fairly new to coin collecting! Welcome! We're glad we're here to help. Believe it or not, these coins are actually the most collected coins in the entire United States of America. There are a number of reasons for that, and we're going to explore a few of them. Of course, these coins are only the beginning. It could be that they are opening new vistas of collecting and investing to you. If that's the case, then so much the better. We'll begin, though, by describing the Morgan coin itself.
Minted from 1878 to 1921, Morgan dollars are really quite beautiful. Their beauty, of course, accounts in large part for their popularity with collectors, especially new ones. It's more than just their beauty, though, that makes them appealing. They're also quite affordable! Of course, there are plenty of coins you could collect that are very affordable, but you have to carefully consider the reason they're so affordable if you want to make an informed buying decision. For example, if they're so affordable because they're almost worthless, and therefore represent very poor (if any) investment potential, then they're pretty much a waste of your time. That isn't the case at all with these coins.
Of all of the coins that were minted in their century, there are more Morgan dollars still in mint condition than any other type. Of course, there's a very simple reason for that. That reason is that these coins weren't initially produced for circulation! Instead, they were minted for the sole purpose of ensuring a market for nineteenth century silver miners. Besides being historically significant, Morgans are also highly liquid investments. In fact, certain key date Morgans have sold for hundreds of thousands of dollars! The 1895 Philadelphia printed Morgan is the rarest, partly because it was only issued in proof that year.
In case you're wondering, these coins get their name from the man who designed them. He was actually an English born immigrant, who came to the United States when he was thirty-one years of age at the behest of the Treasury Department. He had studied under a family that had designed some American coins before. The design he came up with is rumored to have been based on a Philadelphia schoolteacher by the name of Anna Williams, though Morgan himself never confirmed that to be the case.