Most start Coin Collecting when an elder in the family passes down a few coins to the younger generation. These coins are generally domestic, so the favorite of most collectors are the coins from their own nation.

For Americans the most sought after and prized are the silver dollars. Of all the ones minted, the Morgan Silver Dollar is the most popular and is in the largest quantities. The average price for a decent Morgan Silver Dollar is still approximately $35, but this is not for one of the rare ones.

The extent of your coin collection will be determined by your budget and your interest. For some timing will also play a part in it. This was the case when Czechoslovakia broke up into 2 nations in 1993. These two new nations were called the Czech Republic and Slovakia. For 4 years Slovakia produced coins before joining the European Union and the introduction of the Euro. Most of what was not purchased as collectables has been melted down and are gone forever. They are not that valuable, but rare just the same.

So you see the most popular coins to collect will be determined by the person who has this hobby. There are also no two collections exactly alike.

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While not as much an introductory collectible as the Peace Silver Dollar, collecting Morgan silver dollars has become an exciting and popular hobby for many Americans.

While there aren’t really any Morgan proofs on the market (with one exception), as the coins were all minted for circulation, there are Morgan silver dollars that are called Deep Mirror Proof Like (DMPL).  These are usually the 1883 San Francisco Mint dollars and have a bright sheen and reflective quality.  Others that are just below this grade are usually called “Prooflike.”

These two grades are the most sought-after and hardest to find (and thus nearly the most expensive) for thsoe collecting Morgan Silver Dollars.  They are not the most expensive, however, as those collecting silver dollars will attest.

That is reserved fro the special varieties and error coins.  Commonly called VAM coins (for “Van Allen – Mallis” – the researchers who published a definitive work on the subject), these Morgan Silver Dollars are not easily come by.  There are only about 6,000 of them in total, making them extremely rare.

The only proof coin, as alluded to earlier, is the 1895 Proof Morgan Silver Dollars, which are extremely rare.  The last one to sell was valued in 2009 at over $100,000!  Only 880 of these proof coins are believed to exist, as the majority of this minting was either lost or melted down during the Great War.

In all, collecting Morgan silver dollars is one of the more intriguing and popular passtimes for American collectors.  Of all of those collecting silver dollars, the ones who collect Morgan silver dollars are the most likely to run the gambit in experience from newcomer to old hand.

If you enjoy these coins, let us know about your collection by commenting below!

Susan Headley has a great article on how to make money buying coins – How Do Coin Dealers Get So Many Coins That Are Limited to One Per Person?.  In this article Susan discusses how coin dealers get more than one coin when the US Mint limits sales to one coin per person.  The best part about this article, is that Susan describes how you can make money buying coins by buying these limited coins and reselling them to coin dealers.

I have written several articles on Coinblogger that if you haven’t read yet, I thing you will enjoy them.  This week I had the opportunity to interview Jack Penrod, also know as Arizona Jack on the CoinTalk forum.  Jack is a coin dealer and lincoln cent expert.  This article provides some great insights into becoming a coin dealer and collecting lincoln cents.

I also wrote an article on the 2009 Lincoln Commemorative Silver Dollar.  This is going to be a great coin for any Abraham Lincoln admirer.

Silver Coins Today has a good story about the US Min increasing the price of its 2009 silver bullion coins – US Mint to Increase American Eagle Silver Bullion Coin Premiums.

If you are looking for some stories to read, the Coin Update Blog just posted its February 5 Coin Update.  You should definitely check out its list.

If you would like to see some great new coins for sale, here are some cool coins I have seen for sale on ebay.

• I have always wanted a Carson City Morgan Dollar.  Here is a MS-64 1882 Carson City Morgan Silver Dollar.  This is a beautiful coin.
• Here is a great MS-64 1921 Peace Dollar.  This is certified by PCGS.
• Get you 1909 VDB Lincoln Cent in MS64.  This coin is certified as being red brown.  This is a beautiful coin.

If you have used Susan’s tip to make money buying coins, please leave a comment below describing how you did it.