A Silver Beauty From 1888, And Why Is Silver So Expensive?
I wish I could say it's been a lazy Sunday today, but so far I've been busy getting things ready for Christmas. I've been opening boxes that have come from Amazon and then gift wrapping the items. Fortunately, it's much easier now that my son is grown, but I still have gifts for other family members and neighbors to prepare. I no longer put a whole lot of effort into decorations around the house, so that has made it easier!
Rather than share my very poor gift wrapping skills, I decided to go with some silver for this Sunday. Why? Because I'm a silver fanatic and have had the silver bug since I was a kid. Today I picked one in particular only for it's date, 1888. My friend @silversaver888 is a huge fan of coins from this year and she has an impressive collection of them.
I love collecting Morgan silver dollars because of the age in which the were produced. It was still the days of the Wild West in the United States and so much of the country was still wide open country. It was a time you could seek your fortune in gold mining in California, Arizona, Colorado and many other places. It's fun to wonder who might have handled this coin, and what it was spent to purchase. If only coins could talk...
So here is the silver dollar of the day, a Morgan Dollar from 1888 minted in Philadelphia, Pennsylvania:
About the coin:
from numista.com
While this coin is far from pristine, as it would have would have looked coming out of the front door on the mint, it's still in great shape. In it's current condition I would guestimate that it's worth around $100, with a silver content value of $51.95 as of the time of writing this post. The Morgan Dollar always demands a premium even in circulated condition as it's an iconic coin and part of the age of the Wild West.
If you don't own one yet, it's a great coin to pick to up that you're sure to enjoy. Although the Peace Dollar is by far prettier, the details in the Morgan make it may favorite. Plus, don't forget the silver content either! You get the great artistry of the coin together with the precious metal, definitely a win/win!
Silver
Silver over the last five days from kitco.com
$67 per Troy ounce, not too bad...
It's hard to share any silver right now without talking about the silver markets. I have been reading multiple articles lately by the "experts" who all anticipate silver to outpace gold in the coming year. The shortages of silver look to be with us for the foreseeable future as demand is by far outpacing refining capacities.
Additionally silver is used in automotive parts, solar panels, medical devices, water filters, aircraft engine bearings, x-ray film, electronics and not to forget jewelry. Silver is just about everywhere in today's world which is why governments and individuals are hording it due to it's scarcity. It's great investment and I've invested in it since I was a kid and I won't be stopping any time soon!
If you haven't started your own stash, today is the day. Start small and continue to purchase more regularly and soon you'll have an impressive stack of silver! It a great way to increase your personal wealth and can be passed down to your children.
I hope you all have a great Sunday and that it's been an enjoyable weekend. Please feel free to leave any questions or comments below, and thanks for all of the support. I really do appreciate all of your support and friendship!
References:
https://www.kitco.com/charts/silver
https://www.usmoneyreserve.com/news/executive-insights/what-is-silver-used-for/
Disclaimer
I am not a financial planner and this isn't financial advice. Please always do your own research before investing your money. You worked hard enough to earn it!
All pictures are mine unless otherwise indicated.
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You have created a Precious Gem!
I was doing some research yesterday as well… it looks like that if you buy now silver even if it is expensive it will pay off next year…
I still think there's room to make money, I agree the run is far from over!
!BBH
!PIZZA
Yes, indeed! I am a fan of 1888 coins, @thebighigg !!! Thank you for remembering that fact!
I have two 1888 Morgan Dollars, both are BUs:
My first 1888 Morgan Dollar BU
and a second 1888 Morgan Dollar BU, which was a gift from @elizabethbit and @silvertop!
Unfortunately, not all understand stacking.
!BBH
!LADY
!PIZZA
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!BBH
!ALIVE
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Those are so beautiful! I love gem BU coins, especially Morgan Dollars! I prefer them that way, but I have many well worn ones as well that came at a great price at the time or part of a package deal.
Have you picked up any new 1888 coins lately?
!BBH
!LADY
!PIZZA
Yes I have new 1888 coins. 1888 coins are key dates for most governments. They are quite expensive!
I'll show them after Christmas!
!BBH
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Awesome 1888 Morgan Silver Dollar my friend!!🤗
$68.21 spot Silver on kitco today.......
We just gifted our four month old granddaughter two Silver rounds for Christmas, to help encourage her dad to start stacking!!🥰😇👍
It hit $69 briefly, and I think that $70 is coming in the next day or two! Great move for your granddaughter!
Liz had to encourage our son and his wife to place our Granddaughters silver rounds in the safe location…….
Finally I let my son know how high Silver spot was currently at.
“Bill make sure you don’t loose Olivia’s Silver!”😇😍
He was thinking Silver was still only about $12 an ounce! 😇☺️
Not many people are paying attention to the spot price………..🙄
!BBH
!ALIVE
!PIZZA
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Thanks!
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I was tempted to get this counter stamped Peruvian 1 Sol coin when I saw it offered for sale from my Hong Kong Dealer just because of the 1888 date. The selling price squashed that ideal in a bug hurry.!LOL
!PIMP
That is a sweet coin, I would love to own that one for sure! What was the asking price on it out of curiosity?
!PIMP
I recall it listed as $200 USD.
I grew up in the Wild West…. I was able to bring a Fifty Dollar Bill to the Bank and ask for Fifty Silver Dollars and they would be brought to me…
When I was a kid I would exchange my bills for Ike dollars, I just loved the size of those things. Then came the Susan B Anthony dollars and I lost interest, they just weren't the same. I have many collected from change I got over the years, but they lack the magic of the bigger, old dollar coins!
I have a thousand Ike Dollars I collected over the years…
if only we still use pure silver coin for currency. I wonder how small it will be with the current inflation rate.
or will it really have any effect?
beautiful coin my friend, and expensive as well. :)
!PIZZA !LUV !LOLZ
Our smallest Silver Coin will contain 1/10 ounce of Silver and have a $1 Face Value… Our largest Silver Coin will contain 1 ounce of Silver and have a $10 Face Value… Our Silver Certificates will range from One Cent to One Hundred Cents, and will be used to remove Fiat USD’s at a 100 to 1 Exchange Rate…
It would tiny! But they won't incorporate it again because of it's price, which is a shame because then your money would actually be worth something no matter what!
!PIZZA
!LOL
!BBH
Nice Morgan. I always like the ones with a little "story" to them anywway.
Silver is going apeshit right? Crazy stuff.
That extra wear does add character and a serious story to ponder about. I generally like the gems, but at times I've picked these up as part of a package deal with some nicer coins. But I'm a sucker for silver dollars, so I usually buy them if the price is decent and I can afford it.
These days can afford much less than in the past unfortunately! lol
I understand the being able to afford much less these days. Grocery store is putting a dent in my hobby money.
I remember thinking about buying silver in 2022, and then again both silver and gold coins were offered to me beginning of 2023 - but I didn't quite understand what to do with it. But that's okay, I did well in other areas. But I'm still thinking about diversifying a little more, add just another basket. When it comes to that, I'll know who to talk to ;-)
!BBH
Too bad you didn't buy in back then, but no time like the present. I recommend to start a stash of silver, not only does it build your personal savings but gives you something to pass onto your daughter. Just something to keep in mind. If I can help out just let me know!
!BBH
!PIZZA
!LOL
The Morgan Dollar coin is a nice to have in the collection
!BBH
We are getting closer to see $70 for Silver this Christmas
$69 last night, that $70 for Christmas may be coming true!
!BBH
!PIZZA
It is the perfect gift for this Christmas
!LADY !PIZZA
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The big banks have finally lost their ability to suppress the silver price. Silver to the Moon!