U.S. Coin Price Guide

Coin Collecting

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Silver dollars in demand
By Mark Ferguson

From the classic 1794 Flowing Hair silver dollar through the Peace dollar series of 1921 to 1935, collectors are busy assembling collections of these large coins in various forms.

Some people collect by design type, others by complete date and Mint mark issues, others by varieties and still others by eye appeal, especially of colorful toning. These collectors provide a foundation of strong support for demand in silver dollars and other coins, for that matter.

But collectors are not isolated. It is difficult to avoid being shaken by the bad economic news bombarding us daily during the past few months. While the coin market has been remarkably resilient during this time, many are wondering if values will continue to hold.

Greater weakness has occurred for off-quality coins, but coins that are solid for the grade are generally holding their own.

Up to this point we've seen no crash in the coin market, but could we? Yes, of course. Markets move both ways – up and down. However, tremendous support continues for collector coins.

Silver dollars comprise a market segment that always seems to show good trading activity in some area of the denomination. Lately the low-end circulated Morgan and Peace silver dollars have been in the demand spotlight because these coins provide a way to purchase silver bullion and they have an added value play in that their collector premiums may increase.

Demand has also been strong for the early silver dollars, dating from 1794 through 1803 (and including the 1804 coins). In fact, during the past five years or so, values have risen so high for these dollars that some collectors have sold those collections, unable to afford the higher prices for coins they still need.

More recently we've seen values increase rather substantially through all grades of Seated Liberty dollars. Trade dollars are following this trend, although with less vigor.

Interest continues for Morgan and Peace dollars. Many high-end Mint State Morgan dollars are posting strong prices. The recent million-dollar-plus, record-setting sale of an 1893-S Morgan dollar, graded Mint State-67 by Professional Coin Grading Service, is a great example.

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