US Coins

Morgan and Peace program still shows momentum among collectors

Since Proof coins sell at higher prices, what is the Mint's reasoning for limiting the 2024 Proof Morgan and Peace dollar coins' mintage to fewer coins than last year's Proof coin sales figure?

Original images courtesy of the United States Mint.

From all indications in the Coin World's April 15 edition cover story by Paul Gilkes, on the impending release of the latest Morgan and Peace dollars, the program is still highly popular with collectors.

There was a certain faction that questioned the continuation of the coins shortly after the first issues in 2021. After all, the purpose of having these coins was to commemorate an anniversary, the centennial of the end of one design and the beginning of another. Any other year would not have the same impact.

Then, when the Mint announced no coins in 2022 due to a shortage of available silver after previously saying it would be an annual program, many thought that to be the death knell. The program rose again like the mythical phoenix, and strong interest remained as 2023 offerings were announced. Now, with the next  coins in the program heading for public release later this year, subscription sales are encouraging.

The nagging question remains — how long can it last? When will the public move on to something new and different? Will all of the efforts related to the nation’s 250th birthday, another anniversary, derail the coins? With all of the talk about new designs, this program just marches out the same look every year, because you simply can’t redesign history.

Conspiracy theorists may seize the notion that the end is near when they look at the published mintage limits for 2024. According to the report, the mintage limit for both the Morgan and Peace dollar in Proof finish is 300,000, which is 25% fewer than last year. The Uncirculated coin’s mintage limit appears unchanged at 275,000 coins. Since Proof coins sell at higher prices, and the Proof versions outsold the Uncirculated versions in 2023, according to the Mint sales report in the April issue of Coin World, what’s up? Of course, published mintage limits are subject to change. Demand may have a say in that, but both Morgan and Peace Proof coin sales were over the 300,000 figure last year.

This is going to be one to watch in the days and years ahead..

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