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Where Do I Buy Silver Dollars

Provident Metals is proud to offer an outstanding selection of United States silver dollars, allowing our investors and collectors the flexibility of selecting from a variety of fine American silver coins. Some of our Morgan and Peace dollars are in brilliant, mint-state condition, some in near-mint condition, and still others in almost mint condition.

where do i buy silver dollars

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We have United States silver dollars in our collection that were issued as early as 1884 to as late as 1921, but all are produced with 90% Pure .7734 Troy Ounces of Silver. All of these coins represent a piece of American history and pride, and all were struck with great care by the United States Mint. They are all legal tender in the United States that can be used for the purchase of goods and services, but today, their value in silver bullion far outweighs their stated face values of one dollar. Morgan Dollars were minted from 1878 through 1904, and again in 1921 and replacing them, Peace Dollars were produced from 1921 through 1928, and again from 1934 through 1935. Both coins were produced at three mints including the following: Philadelphia (no mintmark), San Francisco (S), and Denver (D). Both are composed of .900 fine silver, yielding a total silver content of .77344 troy ounces per coin, and measures 38.1mm in diameter. By law, the Peace Dollar shared the same design requirements as its predecessor, the Morgan Dollar, and therefore, both feature a profile of Lady Liberty on the front of the coin and a unique eagle design on the reverse side.

Because of thier fine silver content, their place in American history, and their classic artistry, both the Morgan and Peace Silver dollars are coins that will be a treasured addition to your fine silver collection! Provident Metals offers many years and issues to choose from, and our on-line ordering system will ensure both a swift and secure delivery of your historic Silver Dollars. Select as many issues as you see fit, and build an impressive collection of these outstanding U.S. coins.

Silver mining in the United States, mainly the Comstock Lode (1859), is the catalyst that gave silver dollar coinage its heyday. Before the nation could truly benefit from this discovery, previous legislation demonetizing silver first had to be overcome. The Bland-Allison Act re-authorized the standard silver dollar to the weight and fineness as stated in the Act of January 18, 1837 (26.73 grams; .900 silver, .100 copper).

Once again, legislation played a role in the silver supply chain because of the passage of the 1890 Sherman Silver Purchase Act. When demand and silver bullion supplies dropped as a result of this legislation, production of the Morgan Dollar was suspended in 1904 at all U.S. Mint facilities.

After World War I, the Pittman Act of 1918 authorized the melting of millions of previously minted silver dollars (primarily Morgan Dollars). However, the Act also required silver to be purchased in order to manufacture new silver coins to replace the melted ones.

The Peace Dollar was struck from 1921-1928, at which point demand for the dollar was low, and the silver supply resulting from the Pittman Act ran out. It was minted one last time prior to World War II, with the passage of what was referred to as the Silver Purchase Act of 1934. The coinage was short-lived, lasting only through 1935. These last Peace Dollars were struck at the Philadelphia, Denver, and San Francisco Mints.

No silver dollar coins were struck by the Mint and issued into circulation after 1935. The silver dollar drought almost ended in 1964, when new legislation allowed the Denver Mint to strike Peace Dollars. However, none were released to the public.

At the same time, legislation was also being worked to remove silver from coins because of the ongoing shortage. On July 23, 1965, President Johnson approved the Coinage Act of 1965, which removed silver from circulating coins and authorized that clad coins be used for the half dollar, quarter, and dime.

In 1971, the Mint produced Eisenhower copper-clad and silver-clad dollars. This coin marked the first time a portrait of a U.S. president was authorized to appear on a circulating dollar coin. It was also the first circulating silver dollar coin minted since 1935.

This year, the Mint brings those two famous designs back to collectors as a result of the 1921 Silver Dollar Coin Anniversary Act (Public Law 116-286). It requires the Secretary of the Treasury to mint and issue $1 silver coins in recognition of the 100th anniversary of completion of coinage of the Morgan Dollar and the 100th anniversary of commencement of coinage of the Peace Dollar. More information about these products will be available in the upcoming weeks on our website and social media channels.

There are few relics, like the Morgan Silver Dollar, that show us a glimpse into our past as an evolving country. The Morgan Silver Dollar was successfully minted from 1878 to 1904 and again for one more year in 1921. Throughout its 27 years of production, two famous mints closed their doors, three bills were passed to approve the minting of silver dollars, and the Denver Mint was established and currently stands as the world leader of coin production. The Morgan Silver Dollar has a fineness of .900, and weighs a total silver content of 0.77344 troy ounces per coin. After 130 years of being minted, the Morgan Silver Dollar is still among the most popular coins sold in the country and is also advised as a smart investment, due to its low mintage averages and 90% silver content.

The New Orleans Mint first opened in 1838-1861. Then, it reopened in 1879-1909 since it was closed during the American Civil War and the Reconstruction period. In its prime, it produced 427 million gold and silver coins of every US denomination. The New Orleans Mint was decommissioned in 1909 but the state wanted to keep the building so it has been used for several unrelated purposes, such as a fallout shelter, US Coast Guard storage facility, and an assay office. Since 1981, it has served as a branch of the Louisiana State Museum and is now considered a National Historic Landmark; being the oldest surviving structure of a US Mint. The New Orleans Mint stamped all of their coins with an "O" mint-mark.

The Carson City Mint was built at the peak of silver mining and was conveniently located near a popular silver mine. Based in Nevada, the Carson City Mint was built in 1863 but didn't begin operating until 1870, when it minted mainly silver coins. It operated for 15 years, took a break and picked back up in 1889. Finally, in 1893, the Carson City Mint closed its doors as a US Mint branch and now is the Nevada State Museum. The Carson City Mint used the "CC" mint-mark on all of its coins.

Only established in 1906, which is considered young for the almost 200 year old mints, the Denver Mint mainly produced commemoratives or mint sets. Coin collectors will see the "D" mint-mark from time to time, on silver coins, because the Denver Mint had to aid in fulfilling the requirements of the Pittman Act. Often viewed as the underdog in its earlier days, the Denver Mint has now earned the name of the largest producer of coins in the world!

Caches of Morgan Dollars produced at the Carson City Mint were discovered and were sold to coin collectors by the federal government in the early 1970s. Many of these dollars were uncirculated and are called GSAs (named after the General Services Administration) and come in black plastic holders that mimic the holders used for proof silver Eisenhower dollars of the period. These have become collectible items within the GSA encapsulation.

The Morgan Silver Dollar is what one thinks of when referring to the old silver dollars. Replacing the Seated Liberty Dollar, the Morgan offered a fresh perspective on the traditional design of the US coin. Ever since the Mint Act of 1792, the US Mint was required to feature an emblematic symbol of Liberty on all of its coins. This bill resulted in an overuse of Lady Liberty's portrait, with the US Bald Eagle at a close second. On the Morgan Silver Dollar's obverse, Lady Liberty's full body is not pictured, which wasn't the norm for her design. Instead, Lady Liberty's lovely face and delicate features became the highlight of the coin's portrait. Lady Liberty came to life through this design and is quite a memorable one at that. The Morgan Silver Dollar's legacy lives on today, representing a past that is the foundation of this nation.The Man Behind the CoinGeorge T. Morgan was an English immigrant when given the chance to work directly under William Barber, at the US Mint. Morgan's continuous education and dedication to die engraving literally unleashed a whole new world from what he was used to. Although he was only the Assistant Engraver, Morgan's talent could not be ignored and so he was assigned the daunting task of designing the new dollar. It wouldn't be until 40 years later that George T. Morgan would become the 7th Chief Engraver of the US Mint. Throughout his time at the mint, Morgan designed other coin collections but all fail in comparison to the timeless Morgan Silver Dollar. 041b061a72


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