Background for my Question: Come 17 March 2010, I will receive my commission in the U.S. Army as a Second Lieutenant. I've been in the Army for a while and I know that the military has a tradition where a newly appointed officer gives a U.S. Silver Dollar to an NCO of choice in exchange for his or her first salute; this is known as the Silver Dollar Salute (the military tries to keep the names of traditions simple...lol). More info on the Silver Dollar Salute: http://www.jcs-group.com/military/rank/salute.html (The First Salute) My Question: What would be the best Silver Dollar to give in exchange for my first salute? I believe 85-90 percent of new officers give older coins rather then newly minted ones. I was thinking of something from the 1800s like a Morgan Dollar; (the coin is usually in the best condition it can be in) but I am open for any suggestions.
Thank you for your service, and congrats! If you're interested in a Morgan dollar, there are certain dates that are very common in uncirculated condition and relatively inexpensive. The early S mint Morgans (1879 S, 1880 S, and 1881 S) are some of the most common in uncirculated condition, and they are know for their rather good strikes.
An Eisenhower dollar is another popular choice because Ike was a general. Many coin shops will sell Ikes for $1.25 to $2.00. A Peace dollar, or Morgan dollar will set a person back about $20 to $25 in AU (almost uncirculated condition). An Ike dollar in 40% silver is an in-between option, and might sell for $10 at a local shop.
Thanks for the info! I've never thought about an Ike piece...but I still think something a bit older would do the trick. I've been looking and asking my fellow soldiers (those that were commissioned) what they presented and most said Morgan Dollars. That's where I thought of my idea. But since I'm giving this coin to a Senior NCO that had a big impact in my life...I really want to "out-do" my friends. My limit for spending will be nor more then $100.00. And since I'm still new to the coin sector (my main collecting is in firearms), I'd thought I'd get some input.
Just an idea. Why not contact PCGS or NGC and have a nice Morgan slabbed with a special label commemorating it as your Silver Dollar Salute coin. Perhaps they'd put your name/date/rank on it. Would be a wonderful keepsake for someone.
When I made Chief Warrant Officer (CWO2) in the Coast Guard a few years back, I purchased 10 "dollar" coins. The very first salute received a BU Peace dollar, the other nine received BU IKE's. You should of seen the fight for the salute line to be first! I also like the idea of getting a Silver round and getting it engraved for the first person that saluted me. If I had had more time, I was going to try that route.
Army333, First, thanks for your service to our country. It is men and women like you that allow us to live the lives we live. If you are looking for a Morgan, you can buy either a certified or non-certified (raw) coin. Here is a raw coin that might fit your criteria: http://www.apmex.com/Product/53454/1884_MS_62_VAM_3_Large_Dot_Top_100_100.aspx Or, if you want to go the certified route: http://www.apmex.com/Product/4516/1878_S_MS_63_PCGS_100.aspx Both coins are in BU (brilliant uncirculated) condition. It is just a matter of if you want to give the man a coin in the flesh, or one that is encapsulated in a plastic 'slab' for protection, as well as a guaranteed grade.
Thanks for all the replies! I like the idea of having one engraved but I don't know if it would be allowed (since there is no rule book or any rules for that matter set in stone, I'd have to ask or find out).
I'd give that NCO an American Silver eagle bullion coin. Classy design, and it's got some "heft" to it. One ounce (troy) of silver. This guy made an impact on you? Giving him a coin like this will make a deep impression on him....
My first thought was an ASE too. Army, if your definite about an older coin (Morgan), there are definitely a lot in uncirculated condition you can pick up for under $100. A proof American Silver Eagle in nearly perfect condition (like this one: 2005-W American Eagle) usually go for around $50.
One can find common-date AU or Unc Morgan or Peace dollars at coin shows for around $25. I went through the same thing in 1969.
Are there any good online dealers? I know if I go to a show I'd be lost and the guy (or girl) might sell me on something I don't want. I guess I'm just nervous that way with sales people (I use to be one myself...so no disrespect to anyone).
You can get a 1921 uncirculated Morgan for really cheap, unless you want an older one. You should be able to find an uncirculated one for about $20-$25 easily. Congratulations, by the way, and thank you for your service to our country. I can probably find one online from a reputable dealer if you'd like. I'll check the stock of a few people that I know are trustworthy.
Hey Army, I'm sending you a PM with a good dealer's website that has some encapsulated choice BU 1870s and 1880s Morgans for about $40.
In addition to the older silver dollars, there are also a number of military type modern commemorative silver dollars that are 90% silver and legal tender (like the old ones). A few of them are: 2002 West Point Bicentennial, 1998 Black Revolutionary War Patriots, 1995 Civil War, 1994 Women in the Military, 1994 US Prisoner of War Museum, 1991 USO. You can probably find these easily on eBay, but look for the uncirculated version (slight premium, but worth it because lower mintage than the proof and better potential). You can buy a slabbed one or if you buy it uncertified, buy one with all the original packaging & COA. And, since we’re talking eBay, buy from someone with a 99% or better rating.
