Commissioning Silver Dollar Question

Discussion in 'Air Force Academy - USAFA' started by Wishful, May 3, 2017.

  1. Wishful

    Wishful "Land of the free, because of the brave..." 5-Year Member

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    Would like to give DD the silver dollar for the 1st salute custom but visited several banks in area with no luck. Is it still a silver dollar that is used, or one of those new ones that look like a quarter? Also any advise on where to get one (other than a coin shop which I am thinking is my next stop, thx.
     
  2. Jcc123

    Jcc123 5-Year Member

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    My son bought an 1892 Morgan Silver dollar at an antique store. It's pretty much up to each cadet as far as what to buy.
     
  3. Stealth_81

    Stealth_81 Super Moderator 10-Year Member Founding Member

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    They will have instruction and opportunities to acquire them as it gets closer to the time. Silver dollars will be available at the banks on base if they need some. Unless you want something really special or unique that is the best route.

    Stealth_81
     
  4. Wishful

    Wishful "Land of the free, because of the brave..." 5-Year Member

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    One less worry, thank you both.
     
  5. Christcorp

    Christcorp 10-Year Member

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    FWIW: There haven't been any REAL Silver Dollars minted since 1935. There's some MODERN Dollar Coins like the Susan B. Anthony, Sacajawea, and other presidentials; but NONE of them are "Silver". There was a short time in the mid 70's when there were some Eisenhower dollars that had 40% silver in them. You're not going to find any SILVER DOLLARS at any bank.

    The TRUE Silver Dollars that you're looking for, are:
    Morgan Dollar &/or Peace Dollar. They are 90% silver and worth (Because of the silver) about $22 at a coin shop.

    You could buy an American Silver Eagle. And while technically it's "Legal Tender", no one has ever used it as "Money". It was started in 1986, and people buy them as Bullion. They are 1 full ounce of silver. But again, even though it's technically a $1.00 coin, no one in their right mind would use it as money, when the SILVER is valued at around $18.

    So, I recommend going to ANY coin shop and ask for a MORGAN or PEACE Dollar. Those are the REAL SILVER DOLLARS. If you want to just give a "DOLLAR COIN", and you don't care about Silver, then there's a lot of choices for the generic ones like look like a quarter. But you only get commissioned once; and the person you're having commission you and you're giving you're first salute to, should be of some significance to you. e.g. relative, close friend of the family, etc. They are WORTH spending $20 on a REAL SILVER DOLLAR. Especially if you give them a Morgan Dollar from 1878-1904. The nostalgia of such an old coin is pretty cool.

    Just remember, when going to a coin shop, don't let them sucker you into buying "COLLECTIBLES". There are some Morgan and Peace dollars that can cost TENS of THOUSANDS of dollars. Some in the HUNDREDS of dollars. You don't need any of those. What you want, it a basic year; average condition; nothing special; Morgan or Peace dollar. One that you can still read the date, patterns, etc. well enough. I have bought LITERALLY THOUSANDS of ounces of silver. Including quite a bit of Morgan and Peace dollars. I still buy them today. No coin in the condition YOU WANT will cost more than $25. Past that, and they are ripping you off. You can get them as CHEAP as about $18. Average is around $22. If you go to a shop that is NOT a coin shop, like an Antique shop or Pawn shop, they'll charge more. Try and go to a regular coin/gold/silver shop.

    Mike
     
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  6. Capt MJ

    Capt MJ 10-Year Member

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    Great advice from @Christcorp

    It's a great tradition, makes me wonder how long it's been around. I went into Newport, RI, to a coin shop to buy mine in the late 70's for use at Navy OCS commissioning. The Navy Master Chief in charge of the OCS Color Guard told me where to go, one of the many early experiences I had with "ask the chief." He was also my first salute, bless him for being a good mentor whom I have never forgotten.
     
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  7. ktnatalk

    ktnatalk Sailor. Shipmate. Parent.

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    2017 Coins Are Available!
    The 2017 American Silver Eagle coins have arrived, and we will have them available for purchase through Commissioning! We are once again offering these coins for sale as a fundraiser for the USNA Parents Club of Maryland.

    IMG_4582.JPG IMG_4581.PNG

    They are the stunning 2017 American Silver Eagle coins, will be shipped to your home, encased in an airtight plastic capsule for $30 each. Each coin is one ounce of 99.9% silver, and is traditionally used by new ensigns and second lieutenants to commemorate their first salute after graduation. (Information on the tradition can be found here)

    IMG_4580.JPG
    IMG_4583.JPG
    Also available again this year are the US Military Rounds, also one ounce of 99.9% silver, and shipped to you in an airtight plastic capsule for $34 each. The reverse of each coin is blank, as shown in the bottom row, rightmost picture, and is suitable for engraving. Engraving can be done by jewelry stores in your area. This rounds were very popular gifts last year.

    See info at http://www.usnamarylandpc.org/ They have been selling them since February.
     
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  8. flieger83

    flieger83 Super Moderator 10-Year Member

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    When ChristCorp says "Morgan" or "Peace" dollar, these are what he means:
    upload_2017-5-3_16-21-4.png upload_2017-5-3_16-21-11.png upload_2017-5-3_16-21-21.png

    Been a collector since I was about 7 yrs old...

    I've always given out a really nice uncirculated Morgan...pricey but worth it.

    Steve
    USAFA ALO
    USAFA '83
     
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  9. Capt MJ

    Capt MJ 10-Year Member

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    I keep waiting for:
    "And there's more! If you call within the next 10 minutes...operators are standing by..."

    But this is a great option!
     
  10. BTCS/USN

    BTCS/USN Member

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    And if you order two, we'll send you a set of Ginzu knives
     
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  11. BTCS/USN

    BTCS/USN Member

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    QUOTE="Capt MJ, post: 555383, member: 1722"]Great advice from @Christcorp

    The Navy Master Chief in charge of the OCS Color Guard told me where to go, one of the many early experiences I had with "ask the chief." He was also my first salute, bless him for being a good mentor whom I have never forgotten.[/QUOTE]

    Capt MJ, I told a few newly minted Ensigns "where to go" before and never got a return salute or any silver dollars. Think it may have been my delivery?
     
  12. ktnatalk

    ktnatalk Sailor. Shipmate. Parent.

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    I hope you won't get mad, @BTCS/USN, but this is exactly where I'd say "you can't trust an even number"! :shake:
     
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  13. BTCS/USN

    BTCS/USN Member

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    Can't fault your logic there MC. I don't even trust them.
     
  14. Capt MJ

    Capt MJ 10-Year Member

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    Capt MJ, I told a few newly minted Ensigns "where to go" before and never got a return salute or any silver dollars. Think it may have been my delivery?[/QUOTE]

    Hmmmm....something worth pondering. Perhaps not the delivery but the intended destination.
     
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  15. BTCS/USN

    BTCS/USN Member

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    Capt., you may well have a point there.
     
  16. Christcorp

    Christcorp 10-Year Member

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    These are definitely the coins I recommend. There's nothing wrong with the American Silver Eagle. Like I mentioned, TECHNICALLY, it's a "Silver Dollar". But NONE, EVER, ON THE FACE OF THE PLANET, has ever been used as "MONEY/CURRENCY". They are for people who buy/invest in silver. And trust me, I've got a LOT of American Silver Eagles.

    But for the true meaning of the first salute after commissioning, a Morgan or Peace dollar is HISTORY.... It's REAL.... Except for some un-circulated ones, the vast majority were used daily as money. There's real meaning behind a Morgan or Peace dollar. Back when the US Dollar was BACKED by silver and gold. When it was actually worth something. Not $20 trillion in debt. Nothing wrong with getting an American Eagle, but that was NEVER a REAL SILVER DOLLAR. The ONLY reason it even says $1 on it, is because it's minted by the government. If it's minted by the government, it's considered legal tender/currency. But again, no one has ever SPENT an american silver eagle.

    If you care about the person you are going to present the silver dollar to, get a REAL Silver Dollar. A Morgan or Peace dollar.
     
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  17. Badfinger

    Badfinger Member

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    eBay would also be a easy place to buy one. Just took a quick look....$21.50 shipped.

    I used to buy AGE and ASE's for investment. Sold out at the most recent peak (gold ~ $1900). Was that in 2011?

    For some reason unknown to me, I would still like to by CC Morgan, but am just too afraid to get ripped off!
     
  18. AROTC-dad

    AROTC-dad Moderator 5-Year Member

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    I'd be afraid that I'd receive one that looked great, until I found the melted chocolate inside of it. :rolleyes:
     
    Last edited: May 5, 2017
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  19. Full Steam

    Full Steam Member

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    My dad gave me a Susan B Anthony dollar at the airport when I headed out to USNA. I passed it on to a friend who was another female midshipman. She also passed it to a third woman. I lost track of it at that point.

    I sent my son off with a Peace dollar. I tried to get one that would be 100 years old when he commissioned but the years didn't work out.

    I think some of the presidential dollars could work too, especially if there were a president you were especially fond of.
     
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  20. flieger83

    flieger83 Super Moderator 10-Year Member

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    FYI...starting with the Class of 2021...you'll be able to get Peace dollars for:
    2021 - 2028 (careful though; the 1928 can be a pricey little rarity if it was minted in Philadelphia)
    2034, and 2035. After that...that's all.

    Steve
    USAFA ALO
    USAFA '83
    OLD Numismatist
     
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