Investing in precious metals is one of the great ways to diversify your investment portfolio. If you want to venture into a coin collection, silver coins are the best option to start your collection because they are cheap and accessible. They also share some similarities with gold in that they are rare and expensive to mine. Nonetheless, you do not have to be a billionaire to start a coin collection. Even middle-class salaried persons can comfortably afford it. However, if you are looking for exotic investments options, here are five rare silver coins to assist you in starting your collection.
Flowing Hair Dollar
The flowing hair is a rare silver dollar that was created by Robert Scot and was in supply between 1794 and 1795. It features a depiction of Liberty facing right, with loose hair waving at the back of her head. Fifteen stars surround her with “Liberty” above her and the dates below.
As it is one of the rarest silver coins, the flowing hair dollar is most sought after by collectors. It is attractive and considered extremely important in coin collection. Even if it is a low grade, it shows a mark of importance if you have one.
The Morgan Dollar
The Morgan dollar was named after Gorge T. Morgan, the designer from Britain. It is big and heavy, and the most loved among many collectors. It features a lady liberty head and a bald eagle at the reverse. The silver Morgan dollar was minted from 1878 to 1904 and again in 1921, with the second rare silver coin minted in 1894.
Although there was controversy on the number of tail feathers on the eagle on the coin’s reverse, the silver Morgan dollar minted at the Philadelphia branch was the best design of America’s dollar.
The 1921 Peace Dollar
The peace dollar resulted from the bland Allison act that ordered the government to purchase silver worth $2 million to convert them to silver dollars. They were produced and put into circulation from 1921 to 1928 and in 1934 and 1935. They carried the name Morgan dollar since they were George Morgan’s design.
If you plan to start a silver coin collection, consider the 1928 peace dollar because it is one of the rare silver coins every reputable coin collector must-have. There is also the rarest 1922 high relief, which makes it a valuable series.
The 1900 Lafayette Silver Dollar
The Lafayette silver dollar was produced to remember the idealistic French hero of the American war of independence. It is one of the rarest coins a collector can come across. Also, the Lafayette dollar was the first coin to depict a former US president not once but twice.
Only a few Lafayette dollars were released to the public. The rest were stored and later melted in the 1940s. There were no attempts to preserve the coin for collectors, and that’s why the Lafayette dollar in high MS condition is challenging to find.
1798 Draped Bust Dime Large
When adding coins to your cart, do not forget this hard-to-find silver coin, 1798 draped bust dime large. It was minted in Philadelphia; 1807 brought the highest mintage while 1804 had the lowest. Including the draped bust dime large silver coin in your collection would be wise.
To Sum Up
Silver as a precious metal is cheap and accessible. Also, the metal has numerous industrial uses, making it easy to resell. If you have a plan of trying your luck in coins, including these rare silver coins in your collection will be a brilliant idea.
