By Merak Coins
Investing in Morgan and Peace dollars is an excellent way to combine numismatic passion with financial growth. These historic silver coins offer a blend of collectible value, intrinsic metal worth, and long-term appreciation potential. Whether you’re a beginner or an advanced investor, building a strategic portfolio can help you maximize returns while enjoying the beauty of these iconic pieces of American history.
Why Invest in Morgan and Peace Dollars?
Morgan and Peace dollars are among the most collected U.S. coins, with strong market demand and a proven track record of value appreciation.
✅ Historical Significance – Morgan dollars (minted 1878-1904, 1921) and Peace dollars (minted 1921-1935) played vital roles in U.S. commerce.
✅ Precious Metal Content – Each coin contains 90% silver, making them a hedge against inflation.
✅ Numismatic Rarity – Key date and high-grade coins appreciate significantly over time.
✅ Strong Liquidity – There’s always demand for well-graded examples in the collector and investment markets.
Investment Strategy: How to Build Your Portfolio
A well-structured investment in Morgan and Peace dollars should balance liquidity, rarity, and long-term growth. Here’s how:
1. Budget Allocation
A diversified approach ensures stability while allowing for speculative growth:
- 40% Key Dates – Rare and semi-key coins with historical demand.
- 30% High-Grade Common Dates – Easily tradable and liquid assets.
- 20% Certified Bulk Silver Dollars – Stable investments in MS-63 or better.
- 10% Special Varieties & Errors – Unique coins that may yield high appreciation.
Morgan Dollar Investment Plan
Morgan dollars were struck from 1878 to 1904 and again in 1921. Some dates are widely available, while others are extremely rare.
Key Dates to Target (40% of budget)
These coins are must-haves for any serious investor:
- 1879-CC (Scarce in XF or better)
- 1881-CC (High demand, great in MS grades)
- 1889-CC (Toughest CC coin; XF or better recommended)
- 1893-S (Rarest regular-issue Morgan; even a G-4 is a prize!)
- 1895-P (Proof Only Issue) (One of the ultimate Morgan rarities)
High-Grade Common Date Morgans (30% of budget)
These coins are highly liquid and attractive in higher grades:
- 1878 7TF Reverse of 1879 (First-year appeal)
- 1880-S, 1881-S, 1882-S (Affordable in MS-65+)
- 1898-O, 1899-O, 1904-O (Strong demand, affordable in MS-64)
Bulk Certified Morgans (20% of budget)
Perfect for quick liquidation or market fluctuations:
- 1883-O, 1884-O, 1885-O (MS-63/64, PCGS/NGC)
- 1921 Morgan (Most affordable high-grade Morgans)
Special Varieties (10% of budget)
These add unique appeal and potential for high returns:
- 1888-O “Hot Lips” VAM (Popular doubled-die variety)
- 1900-O/CC Overmintmark VAM (Unique CC transition variety)
- Prooflike (PL) and Deep Mirror Prooflike (DMPL) Coins
Peace Dollar Investment Plan
Peace dollars were minted from 1921 to 1935 and symbolize post-WWI prosperity. They tend to be rarer in higher grades than Morgans.
Key Dates to Target (40% of budget)
- 1921 High Relief (First-year issue, stunning strike)
- 1924-S (Rare in high grades, great investment)
- 1928-P (Lowest mintage Peace dollar; MS-63+ recommended)
- 1934-S (Toughest later-date Peace dollar)
High-Grade Common Date Peace Dollars (30% of budget)
- 1922, 1923, 1924 (MS-63/64, PCGS/NGC)
- 1925-P & 1926-P (High demand in MS-64+)
Certified Bulk Peace Dollars (20% of budget)
Great for steady growth and resale:
- 1922, 1923, 1924 (PCGS/NGC MS-63/64)
Special Varieties (10% of budget)
- 1922 Weak D & Strong D Varieties
- 1923-S and 1924-S with strong strikes
- High-grade toners
Recommended Investment Plan Based on Budget
$1,000 – $2,500 Budget (Entry Level)
✅ 1881-S Morgan (MS-64, PCGS/NGC) – $175-275
✅ 1890-S or 1891-S Morgan (XF/AU, PCGS/NGC) – $150-250
✅ 1921 Morgan (MS-63, PCGS/NGC) – $100-150
✅ 1922 or 1923 Peace (MS-63/64, PCGS/NGC) – $75-125
📌 Focus: Affordable, high-grade Morgans and Peace dollars with strong liquidity.
$5,000 Budget (Intermediate)
✅ 1881-CC Morgan (MS-63, PCGS/NGC) – $1,500-1,800
✅ 1892-S Morgan (AU, PCGS/NGC) – $500-800
✅ 1921 Peace High Relief (AU, PCGS/NGC) – $700-1,000
✅ 1928-P Peace (VF/XF, PCGS/NGC) – $900-1,300
📌 Focus: Introduce key date Morgans and Peace dollars in collectible grades.
$10,000 Budget (Advanced)
✅ 1889-CC Morgan (VF/XF, PCGS/NGC) – $3,500-4,500
✅ 1893-S Morgan (G/VG, PCGS/NGC) – $3,000-4,500
✅ 1921 Peace High Relief (MS-63, PCGS/NGC) – $1,200-1,600
✅ 1928-P Peace (AU/MS-60, PCGS/NGC) – $1,800-2,500
📌 Focus: Key dates and high-grade condition rarities.
$25,000+ Budget (Elite Investor)
✅ 1889-CC Morgan (AU-50+, PCGS/NGC) – $8,000-12,000
✅ 1893-S Morgan (XF/AU, PCGS/NGC) – $10,000-15,000
✅ 1895-P Proof Morgan (PR-62+, PCGS/NGC) – $10,000-20,000
✅ 1928-P Peace (MS-64+, PCGS/NGC) – $4,500-6,000
📌 Focus: Ultra-key dates for maximum long-term appreciation.
Final Thoughts: The Path to Profitable Collecting
Investing in Morgan and Peace dollars offers a unique combination of historical significance, precious metal value, and market stability. By focusing on key dates, high-grade examples, and certified coins, you can build a strategic portfolio that appreciates over time.
📢 At Merak Coins, we specialize in premium numismatic investments. Join one of our live shows and check out our latest offerings and as always ask questions.