After a two year wait, investors once again have the opportunity to purchase newly minted Morgan and Peace Silver Dollars. The U.S. Mint will put the 2023 uncirculated coins on sale on July 13 at 12 noon, eastern time. But they are very limited in quantity, as the Mint is producing only 275,000 of each coin. When the silver coins were last produced, in 2021, they sold out within 30 minutes. In 2022, the Mint did not produce the coins due to a shortage of silver blanks.
The original Morgan Dollar was designed by the Mint’s Chief Engraver George T. Morgan to celebrate the nation’s westward expansion and industrial development in the late 19th century. It was produced from 1878 to 1904 and in 1921. In 2021, it was revived to mark the 100th anniversary of the last coinage of the Morgan Silver Dollar.
Its replacement was the Peace Silver Dollar, which celebrated victory in World War I and the ensuing peace. The Philadelphia Mint produced the coin for circulation from 1921 to 1928, in 1934 and 1935, and revived it in 2021 to commemorate the 100th anniversary of its first minting.
Due to their limited mintage, both the Morgan and Peace Silver Dollars will sell at a substantial premium to the to the price of silver. The Mint is charging $76 for each one-ounce coin, about three times the market price of silver.
For investors seeking to protect their assets through purchases of silver, a far more affordable and more liquid investment is the American Silver Eagle coin, available through Nationwide Coin & Bullion Reserve.
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