Morgan silver dollars are the most popular coin among collectors. They were produced from the late 1800s until the early 1900s. They were put into production following the discovery of the Comstock Lode in Nevada and this historical connection makes them popular. When you see the performance of silver prices these days, it's exciting if you own some of these coins. The price of your coin will be determined largely by the price of silver on the market, in most cases, but you'll need to know how this system works.
Morgan silver dollars are .900 fine, or 90% silver. When you see silver prices on stock tickers, that price is referring to silver that is .999 fine. That level of purity is what investors trade in when they buy and sell bullion. The Morgan silver dollar was intended to be used as circulating currency. A silver coin of ,999 purity would be too soft to be practical, so the Morgan dollar was alloyed with copper. For this reason, you have to deduct this from the bullion value of your coin. The reduction, of course, is not that much.
There are some types of Morgan dollars that are incredibly valuable. Silver coins are a bit different than gold coins in terms of how numismatic value affects their overall value. A gold coin of 1 troy ounce in weight that has $500 in pure numismatic value would still have almost four times that value in bullion if average 2011 prices were used to calculate the price. Silver prices are usually a fraction of the price of gold. In the case of a Morgan dollar, the value of the coin in terms of its numismatic price may be much higher than the value of the silver content.
Morgan dollars do go up and down in price along with silver prices, but their fluctuations usually aren't that much. This makes them attractive to many investors who want something that comes at a somewhat predictable price. Silver prices can be a bit volatile, but it's still one of the most popular investment metals out there and is less volatile over history than are metals such as palladium. Buying silver means buying coins or bullion bars. Morgan dollars, because they are typically not that high in terms of numismatic value, are great ways to get silver bullion of a known purity with a bit of historical appeal, as well!