If you’re planning to buy some precious metal to invest then you’re probably wondering what to get. A lot of people will try to convince you to get gold bars or bullion because they are the most expensive, but is this the best idea?
When someone says silver in a form of investment, a lot of people instantly start laughing. They think that this precious metal is a joke. They simply are not right. In this article, we’ll show you why.
Why silver, in general, is a good idea
Unlike other precious metals, this one’s price is never experiencing big fluctuations. The current price is around $16 and throughout decades before it was always around $10 per ounce. This gives you confidence that even if the price drops, you’ll always be sure that you won’t lose too much if you invest in this.
What is the history of the Morgan Dollar
Morgan silver dollars have a great history behind them. They were made back in 1878 as a 0.96 ounce 1 dollar coin. The amount of silver in it is 90% with an addition of 10% copper.
What is important about it is that this is the first dollar made after the government ordered pulling back of all silver for free trade and banned the free minting of coins. After a bill passed by the constitution, the coin was once again minted and was existing until it was exhausted in 1904.
However, in 1921, after the Pittman act was passed in 1918, the Morgan dollar was once more minted. A total of 86.730.000 pieces were struck in Denver, Philadelphia, and San Francisco to help the British crises at the moment.
Unlike the previous years, this year the production was enormous. That’s why today there are lots of coins from this year.
Why this particular coin is a good idea?
Because looking at the price charts from the last 100 years will show you that the price of these pieces only goes up. The market price of this metal is not so important, what’s important is that aside from being made of this precious metal, they are a true proof about a part of the American history that’s amazing.
As time goes, the rarity of them gets higher and higher. There are no more produced and their number can only become lower. As this happens the price becomes higher. The rarity and the time difference are the key two factors for creating their value. Just like everything else in the world where things that are in demand but there’s not enough to fulfill everyone’s need become more valuable.
Also, antiquities are always pricy. Things dating a long time ago that are a part of the humankind history and stand for something that happened so far ago are always sold for an amount that’s higher than what it was back then.
Where can you find this dollar?
Around a hundred different specimens are being sold all around the world. Devoted numismatists know every single one of them, how rare they are, how expensive they are, and others.
Knowing that back in the day hundreds of millions of coins were produced, you’d expect that a lot of survived until today. It’s true, the market has a lot of these. Especially the one from 1921 when almost 100 million pieces were struck. Look at this article for more info about this.
Based on this, you can be certain that lots of jewelry and precious metals selling shops have this one and sell it for a certain price. If there’s no store nearby or you simply don’t like buying from people in stores, you can always look for it online.
Literally, hundreds of web pages deal with selling silver, gold, and other precious metals in the form of coins, bullion, bars, etc. All you need to do is search through the net using the keywords explaining what you want. The results are numerous.
If you didn’t understand why we think buying the Morgan dollar is always a good idea, here’s a short and fast recap. Buying this dollar is an investment. Your money is safe and over the years you can only profit if you decide to sell them.