Hobbies And Interests
Instructions
Decide which Morgan dollars you want to collect. Many collectors build a complete set, collecting each year and mint mark that was produced. Others collect Morgan dollars with any date in a particular grade.
Educate yourself on the retail values of Morgan dollars. Buy a price guide, such as the current year's Red Book of United States Coins, that lists values of all Morgan dollars in various grades. Also keep an eye on the silver market, as a spike in the price of silver will raise the value of Morgan dollars because of their silver content.
Compare prices of Morgan dollars at online retailers like eBay and at coin shops in your local area. Find dealers who sell Morgan dollars within your price range and within the range of the prices in your price guide. Purchase coins that fit your preferences of years and condition.
Determine how you are going to store or display your Morgan dollars. Many collectors like to put their Morgan dollars in an album so that can easily view the collection. Others put the coins in individual plastic, air-tight holders to keep them in good condition. If you are collecting low-grade Morgan dollars, you can store them in rolls.