How valuable can silver dollars be, considering that they are made from a less expensive metal than gold? Actually, silver was the choice of metal for the latest million dollar coin. Many 1794 coins are already considered collectibles because of rarity, historical value and market value. It’s not uncommon to read news about a 1794 $1 coin selling for over one million dollars.
However, even that knowledge won’t prepare you for this latest news item. A new coin collectible record was reached in 2010, with the sale of a 1794 silver dollar (the “Flowing Hair” variety) that sold for $7.8 million dollars. A new record, and one that even surpassed the legendary the gold 1933 Double Eagle coin. As you can see, it’s not just about bullion. The market value and historical value of a coin determine its true worth as a collector’s item.
While it’s unlikely you’re going to find 1794 silver dollars in a pawn shop anytime soon, you can still find other silver pieces from our nation’s youth. Collectible pieces like the Trade dollar, the Eisenhower dollar, the Morgan dollar and the Gobrecht still pop up from time to time. These dollars are not merely coins worth hoarding, but important symbols of the country’s past. Coins like the Peace dollar (World War I), the Trade dollar (trading with China), and the Susan B. Anthony dollar (women’s suffrage) truly represent amazing moments in U.S. culture.
These coins were made back in the day when real silver was used, (usually 10% of copper or less) and the coin collecting hobby peaked. Nowadays, many people invest in coins only for bullion value, as a means to play the “stock market” of silver and gold price. However, true collectors still enjoy their hobby and will often come across a master specimen, if they are diligent.
Where can you find silver dollars today? Every once in a while you can find these rare coins from private sellers, but for the most part, they are found at auctions or at coin dealer companies. What’s nice about modern technology is that you can collect these coins without having to go anywhere or talk to anyone if you prefer to just type away and click. Yes, online auction and online buying are two venues every coin collector should investigate. Who knows? Maybe you will come across some silver dollars as you continue your collecting expedition. Contact a coin dealer to learn more!
