Do Morgan Silver Dollars Classify as Bullion or Numismatic?

By GovMint :

Morgan Silver Dollars occupy a unique position in the world of coin collecting, as they can be classified both as bullion and numismatic coins, depending on attributes such as condition, scarcity, and historical significance. All Morgan Silver Dollars contain a significant amount of silver, 90% silver and 10% copper, which means they hold a base value tied to the current market price of silver. However, many Morgan Silver Dollars transcend beyond their precious metal value due to their age, potential scarcity, the historical context they were issued in, and their condition, placing them firmly in the numismatic category.

Coins with hard-to-find dates and mint marks, or coins in excellent condition, can fetch prices well above their silver content, appealing to collectors of this beloved silver dollar series.

Sources Used:

$12 Million for America's First Silver Dollar - Numismatic News

100 Years of Silver Dollar Coinage, 1878-1978 | U.S. Mint (usmint.gov)

| National Museum of American History (si.edu)