|Anna Williams posed for the Morgan Dollar.|
|Called a "Morgan" dollar. Named for the designer.|
My personal collecting involves part numismatist and part silver/gold "bug". Many, if not most, collectors will collect "type" sets. Most experts advise you to do this. A type set would entail having "all" of a particular series of coins. For example, you may wish to collect all the years of the Morgan dollars. Maybe even all the years and mint marks plus even the variations involved with errors etc. While I find that attractive - it simply is not what I am doing.
I collect US (mostly) coins which are sometimes graded and are selling for an amount not much more than a raw version of the same kind of coin. This plus some raw (junk) coins which will perform the same. I believe these will increase in value along with the spot prices of precious metals and always hold their value in that vicinity. I believe this removes the risk associated with coins which are rare or mint errors etc. Yes, perhaps a penny selling for $3,000 dollars today will increase in value when the dollar crashes - but the number of customers (buyers) will be quite small and I can't imagine that buying food or clothing with a rare penny will ever happen. This is just my opinion and in no way advise.
Coin collecting gets in your blood!
PS: It can be profitable, if you can ever bring yourself to sell one of these magnificent coins.