2024 US Mint Product Release Details: Morgan Silver Dollar Uncirculated Coin (24XE) and Peace Silver Dollar Uncirculated Coin (24XH)
Morgan and Peace Dollar Anniversary Series:
Starting in 2021, the US Mint announced that it would begin a commemorative series for the 100th Anniversary of the Morgan and Peace Dollar coins used in circulation at the beginning of the 20th century. These coins were highly regarded as one of the best releases in the history of the U.S. Mint commemoration series which quickly led the way to an annual year run of each production. Missing 2022 due to Silver Shortage issues within the United States, the Mint Came back with 2023 Morgan and Peace dollars in three different strike types, Uncirculated, Proof, and the esteemed Reverse Proof which all had limited mintages. These coins carried the original designs by Chief Engraver George T. Morgan, and Sculptor Anthony de Francisci, with a denomination of $1 USD, making them official morgan and peace dollars in the series.
This year, the Mint has brought back the 2024 Morgan and Peace dollars in each strike type. The Morgan Silver Dollar 2024 Uncirculated Coin (24XE) will be struck in .999 Fine Silver and carry a weight of 0.859 Troy Oz, consistent with the Peace Silver Dollar 2024 Uncirculated Coin (24XH). Subscription programs for the 2023 coins have been heavily popular with collectors and numismatists to secure the release early and on time without having to fight the US Mint website crashing.
The Original 1921 Morgan Dollar
The original 1921 Morgan Dollar was brought back by the United States Mint after a hiatus of minting due to the silver crashes at the end of the 19th and beginning of the 20th century. The previous design between 1878-1904 had a bowl-like luster, whereas the 1921 had a very flat and muted strike. The 1921 is considered the most common date of Morgans in low grade and trades at a low premium even in Mint State conditions. The 2024 design hosts a more flat satin luster that mimics the silver eagle rather than an original struck Morgan dollar.
The Original 1921 Peace Dollars
The original 1921 Peace Dollar was one of the most elegant designs of the 20th century, featuring a high-relief one-year type that radiates luster and eye appeal. The following design between 1922-1934 had a muted flatter luster. The 1921 is considered a key date of the peace dollar series both in low grade and trades at a very high premium in Mint State condition. The 2024 design sadly does not have the high-relief finish, and instead has a flat satin luster that mimics the silver eagle.
Price Point, Mintage & Household Limit
The Morgan Silver Dollar 2024 Uncirculated Coin (24XE) and Peace Silver Dollar 2024 Uncirculated Coin (24XH) are set to release on July 11th, 2024 at Noon EST (9 AM PST), for a retail price of $76.00 USD per unit. The household limit for each coin is set to 25 coins, which will be lifted after 24 hours. Each coin has a mintage limit of 275,000 pieces and a product limit of 275,000 coins. Each coin comes housed in an inner and outer case thick cardstock velvet case, with a respective COA.
There are two important things to note for this release that did not happen for the 2021 and 2023 releases that could cause some scarcity in the issue.
First noted is the subscription service offered by the United States Mint has already accounted for upwards of 179,200 Units of the Morgan Silver Dollar 2024 Uncirculated Coin (24XE), and 174,900 units of the Peace Silver Dollar 2024 Uncirculated Coin (24XH), leaving just under 100,000 units to be released on July 11th.
Second, the Authorized Bulk Purchase Program (ABPP) received an increased price rate of $95.55 USD per unit due to the increasingly difficult process of obtaining silver. This seems to hint that these may have a quick sellout compared to last year's coins which sat for a slight period.
How to Purchase on Release Day
The US Mint will release the Morgan Silver Dollar 2024 Uncirculated Coin (24XE) in July 11th, 2024 at 12PM EST (9 AM PST), as well as the 2Peace Silver Dollar 2024 Uncirculated Coin (24XH) at the same time. These "drops" are challenging to purchase, some tips include signing up for the subscription service before the mint release and making an account with all your billing information on file. Expedited shipping is always the best option so that your coins arrive safely and quickly. Also, make sure to keep the boxes sealed to keep the "First Strike" eligibility open for the grading services.
Aftermarket Buying and Selling
The best place to purchase on the aftermarket is on the Pure Marketplace. All items will be listed before the release to start building the aftermarket, or buy from the lowest ask and add the hottest mint release of the year to your collection.
This article will be updated with more information as it is available from the US Mint.