Over the years, the United States has minted many types of silver coins. The current silver dollar coin is the American Silver Eagle with . 999 silver bullion. But, when people speak of silver dollars in coin collection they are typically referring to the coins made in the late 19th and early 20th centuries, the Morgan Silver Dollar. If we want to find out what is so special about this coin, we first need to step back in history. The Morgan Silver Dollar was authorized by the Bland-Allison Act, February 28, 1878. Minting of the coin began in 1878 and ran till 1904. It was again minted from 1921 until 1935. Up until 1965, silver coins minted by the US were all silver. This is one reason why the Morgan Silver Dollar is in such demand among collectors. …show more content…
The Morgan Silver Dollar takes its name from George T. Morgan, its designer. This particular coin has Lady Liberty on the front side (obverse) and an American Eagle on the back side (reverse). Even people who are not coin collectors or investors in silver find this silver dollar very appealing to look at. The coin commemorates the expansion westward that the U. S. Was undergoing at that point in history. At the time the Morgan Silver Dollar was minted, the silver rush was going on in the West. As such, the United States Mint cast more coins than were actually necessary for legal tender. Huge numbers of uncirculated coins were locked away until 1960. A good number of the coins were melted down and used for other coins. It is not difficult to find an uncirculated Morgan coin today. A proof coin is minted especially for collectors and are never meant to be circulated.
Proof coins are the most rare and extremely valuable Morgan coin. Graded Mint State 65 (MS-65) and the Gem uncirculated coins are the second most sought after of this particular coin. Although the face value of the Morgan Silver Dollar is one dollar, the silver it contains is worth far more. Every Morgan dollar has . 77344 troy ounces (ozt) of silver. This is equivalent to . 858575171318 avoirdupois ounces (oz), the commonly used measurement in the States. The PCGS and NGC have more credibility in the world of coin collecting and grading then do smaller organizations. As such, coins graded by PCGS and/or NGC have a higher value as compared with coins graded by smaller …show more content…
companies. One of the reasons that silver is a more prudent and safe investment as compared to other precious metals such as gold, palladium or platinum is that coin collectors do not tend to sell their collections. This makes the market demand hold steady and is one reason why the silver market has been a safe investment for four decades. Additionally, some people like to invest in silver coins to broaden their investment portfolio. Silver is used in many more industrial applications than gold, platinum or palladium.
The demand is so great for silver that the supply can not keep up. In fact, the silver mining industry is running short of available above-ground silver to mine. This demand keeps the price of silver growing. Coins in general are simple to store at home in a flood and fire safe vault or at the bank in a secure safe deposit box. The coins are also easy to transport. No large truck necessary. Simply put the coins in a box in your car and away you go. Another definite advantage to investing in the Morgan silver coins is that most people can afford to start investing fairly easily. With the exception of the proof coins, this is not the coin of the elite collector. Additionally, if the financial world took another downturn, the coins are legal U. S. Currency and can be used as such immediately. No worry about finding a seller to liquidize assets makes this coin even more attractive as an investment. Collecting silver coins as an investment is a wise and prudent financial move that will hold its value for years to
come.
On a stop in Colorado during a business trip to California in 1883, Coin became fascinated with silver and took up a pick to try his hand at mining. Calling his mine “Silver Bell,” Harvey’s mine was the second largest producer in the area; however, due to the increase in transportation costs, increasing labor unrest, and the plummeting market value of silver, Harvey abandoned his mine. From Coin’s mining days, he formed an interest in silver as opposed to gold as the U.S. monetary system standard. In 1891, he became the chairman of the Trans-Mississippi Congress, whose interest was in promoting legislation that would benefit the states west of the Mississippi.
There were many economic effects due to the global flow of silver. One of these
The Lincoln penny has produced excessive amounts that has resulted in outrageous mintage numbering into the billions. While the cent production has surpassed the one billion count in the 1950's, a change has taken place. The Denver Mint had assumed the role as the nation's main source for the Lincoln pennies. The 1952 production of 746,130,000 D-mint cents quadrupled the Philadelphia output. As a result, Denver struck more than one billion Lincolns in the late 1950's. Into the era of the 60's, Philadelphia, Denver and San Francisco minted a total over 33 billion coins. The penny production d...
The story of the penny starts on 1792 it came with several different coins including the dime, nickel, quarter, and half penny. The pennies were first made out of 100% copper but the price of the copper went up, because of inflation the power of the penny went down. The cause of the mint to reduce the amount of copper in pennies first from 100% to 95% but then to 5% copper and 95% zinc. Despite the debate in 2006 the value of metal on older pennies rose over one. They became more dead than alive so people began to melt and sell.
According to source #4, it states, “The one cent has influenced our language, giving us a number of idioms, such as ‘a penny for your thoughts’ (a way to ask what someone is thinking) and ‘not one red cent’ (meaning no money at all).” This is significant because it shows that the penny has affected the English language, giving the language more idioms to use. It is often said that pennies should not be manufactured anymore due to their excessive cost of manufacturing and distribution. Yes, numerous people do acknowledge that fact, but the government can also propose that pennies are to use inexpensive metal, like steel, which makes the entire coin industry save money and has the cost of coins to be cheaper to make.
Bryan wanted the United States to use silver to back the dollar at a value that would inflate the prices farmers received for their crops, easing their debt burden. This position was known as the Free Silver Movement. Free silver was a major issue in the late 19th century; it advocated an inflationary monetary policy using the “free coinage of silver” as opposed to the deflationary of gold. Its supporters were Silverites, many were in the West where silver was mined. They advocated “free silver” the unlimited coinage of silver at a ratio of 16 to 1 against gold coins. The debate pitted the pro-gold financial establishment of the Northeast, along with railroads, factories and businessmen, who would benefit from disinflation. Resulting from demand pressures on the relatively fixed gold money supply against a backdrop of economic expansion against poor farmers who would benefit from higher prices for their crops resulting from the prospective expansion of the money supply by allowing silver to also circulate as
The California Gold Rush in 1849 was the catalyst event for the state that earned them a spot in the U.S. union in 1850. This was not the first gold rush in North America; however, it was one of the most important gold rush events. The story of how the gold was discovered and the stories of the 49ers are well known. Men leaving their families in the East and heading West in hopes of striking it rich are the stories that most of us heard about when we learn about the California Gold Rush. Professors and scholars over the last two decades from various fields of study have taken a deeper look into the Gold Rush phenomena. When California joined the Union in 1850 it helped the U.S. expand westward just as most Americans had intended to do. The event of the Gold Rush can be viewed as important because it led to a national railroad. It also provided the correct circumstances for successful entrepreneurship, capitalism, and the development modern industrialization. The event also had a major influence on agriculture, economics, and politics.
...l Company, the National Tube Company and the American Bridge Company. One of Morgan's most famous business deals was the formation of the United States Steel Corporation in 1901. Morgan collaborated with Elbert Gary and John Gates to consolidate different steel companies to form a "supercombination." The U.S Steel Corporation was
Back in the 1900’s kids all over would be so grateful to find a penny. Doing so meant they got to run to the local candy store. William Safire, author of “Abolish the Penny” agrees with the notation of abolishing the penny. In Safire's article he makes a strong claim stating that you, “can’t buy anything with a penny any more” (Safire). Expanding on that claim, there is no point in keeping something around that is taking a resource of zinc and copper, when the resource is being wasted to the garbage. Back in the day it would be absurd to throw such a useful coin away. There is no real need for the coin so keeping it around is simply
I have given a detailed speech on why pennies are not worth it, yet, the next day, I declared my love for the shiny coin when I found a stray on the ground. “I’m one cent richer,” I exclaimed. My love for the penny is something I have in common with many Americans. The penny-lovers might be thinking, "We can't get rid of the penny! We're Americans. See, there's Honest Abe Lincoln. He deserves his place here immortalized on this coin." I share this sentiment, but Lincoln still has the five dollar bill and the Lincoln Memorial. On the other hand, the penny is bad for the environment (Mining creates pollution.), dangerous to people and pets (It is 97% zinc.), and essentially useless to the consumer in
(i) A product which trades on a commodity exchange; this would also include foreign currencies and financial instruments and indexes.
After being given the gold and silver coins, Shadow’s life began to drastically change and become more and more interesting. There are numerous myths, superstitions, and symbols for gold and silver coins that are represented throughout American Gods. The gold and silver coins symbolize protection along with qualities that help shape his character.
Would you risk everything just for a chance to strike it rich? Even with the advancements in the business, it is still a guarantee that you will spend a lot of money getting started, and the payback is not guaranteed. Gold mining, no matter where you are in the world, is a risk-reward job and could either make you one of the happiest people in the world, or it could make you live out the rest of you life in a mountain of debt. Like what is said at Bering Sea Gold “Gold Mining in general is dangerous and not a get rich quick occupation.”
Paper money is more complex. From 1900 through 1971 (with the exception of during World War I), the US dollar was backed by gold, meaning its value was legally defined by a certain weight of the metal. That ended in 1971, when Richard Nixon shocked the world by breaking the link to gold and allowing the dollar’s value to be determined by trading in the foreign exchange markets. The dollar is valuable not because it’s as good as gold, but because you can buy goods and services produced in the United States with it—and, crucially, it’s the only form the US government will accept for tax payments. Among the Federal Reserve’s many functions is allowing the issuance of just the right quantity of dollars—enough to keep the wheels of commerce well greased without slipping into a hyperinflationary crisis.
Copper is the most common metal today and less of a value than many years ago.