When it comes to collecting coins, each of us must make a judgment call on how much to invest in any single coin. Some will wait to purchase the 2023 Morgan and Peace dollars in the anticipation that their cost will lower after they are initially released from the U.S. Mint, while others will buy them right away. Furthermore, when it comes to the two classic collections, everyone will likely search for the best offers available. Here's to a successful silver dollar-collecting year in 2023!
In 2021, the United States Mint caught the attention of many coin collectors by introducing centennial editions of the classic Morgan and Peace dollars. This heightened the existing enthusiasm for these coins, yet the following year brought news that the silver supply to the Mint had been disrupted by the COVID-19 pandemic and no Morgan or Peace dollars were to be issued in 2022. This caused many to assume that the 2021 coins were a one-and-done scenario and the interest in the coins diminished. Currently, the Mint is preparing to issue new Morgan and Peace dollars for 2023, potentially with the same selection of mint and privy marks as before, which may indicate the start of a new series. It is yet to be seen if this will reach the same level of popularity as the silver Eagles. Now is the time to take a look at collecting the classic Morgan and Peace dollars, or for those who have already begun, to investigate what is still a good deal. Beginning with 1921, the year of Morgan's return, each of the three mints issued a large number of coins, with those from Philadelphia having the highest production ever. The 1921 Peace dollar is considered a key date of the series due to its high relief and is costly. A more affordable option is the 1922 Peace dollar, also released from three mints, and all with high mintages and lower prices. When building a Morgan collection, the 1893 and 1894 are quite pricey; however, the San Francisco 'S' minted coins can be bought at a reasonable cost. The Peace dollar key dates are 1921, 1922-high-relief, and 1928, all from Philadelphia. The other common dates in the series, such as 1922, 1923, 1924, and 1925 all have high mintages and are not expensive. Obtaining 'CC' and 'S' mint marks on a Morgan is usually more expensive, but there are some 'S' marked affordable coins. New Orleans 'O' minted coins are also affordable unless their mintage is low. For the Peace dollar, the 1935-S is considered common but still costly. When deciding if coins should be slabbed, the decision is up to the collector. If good-looking coins are desired with no particular grade in mind, then raw coins are the more cost-effective option. If seeking coins with specific grades, then slabbing is the way to go. After the 2023 Morgan and Peace dollars are released, it is likely that they will be found in third-party grading services holders but likely as common coins in good grades. It is up to each collector to determine how much they wish to spend on each coin.