The Carson City Morgan silver dollar is one of the most prized coins collected by American currency enthusiasts throughout the world. The Carson City coins boast an interesting history and excellent production value. There were 13 different Morgan dollar coins produced between 1878 and 1893 from the Carson City Mint. If you are interested in silver coin investing, the Carson City Morgan silver dollars are an excellent beginner series to get your collection off to a stunning start.
In 1859, Carson City was a booming mining town nestled on the eastern edge of the Sierra Nevada mountains. Because of its relatively isolated position, and the difficulty associated with carting coins across the mountain ranges from the closest mint, located in San Francisco, Congress passed legislation that allocated funding for the establishment of the Carson City Mint. The mint was in operation from 1870 through 1893.
The mint shuttered in part due to easier cross-mountain travel, and the depletion of the famed Comstock Lode, which had previously been the town’s primary source of funding. Nevertheless, the presence of the Carson City Mint played a substantial role in the development of Nevada’s state capital.
Circulation and value
Due in large part to Carson City’s challenging geography, the mint possessed only rudimentary coin-making supplies. This means that coins were produced at the Carson City Mint in far fewer numbers than they were at larger mints, like those in Philadelphia, Chicago and even San Francisco.
Because of the limited production time and smaller production volume, Carson City coins are quite rare compared with most other U.S. coinage. This means that Carson City Morgan silver dollars are typically worth substantially more than coins produced during the same period at other U.S. mints.
The best way to reap the highest possible return on your investment in Carson City Morgan silver dollars is by acquiring the entire series of 13 coins. While this may seem like an insurmountable challenge, it’s actually quite easy. Generally speaking, the entire series can be obtained for around $15,000.
If you don’t want to put forward such a substantial investment all at once, you could start by obtaining a few coins from the Carson City Mint’s most prolific years. Three coins were produced between 1882 and 1884, and they can generally all be purchased for less than $1,000 in total. This could be a great way to get your feet wet in the world of silver coin investing.
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- by Steve Hunt
Categorised in: Silver Coin Investing