You can order silver dollars through most banks, but they have to special-order them and it takes time
Most banks do not keep silver dollars in their regular cash drawers. If you want them, you ask your bank to order them from their Federal Reserve branch, which usually takes one to two weeks. The bank will charge you the face value of the coins plus a small fee for the order — typically a few dollars per roll. You need to have an account at the bank and enough money in it to cover the purchase.
Silver dollars are real U.S. currency. The most common ones you will find are Morgan dollars (made from 1878 to 1904 and again in 1921) and Peace dollars (made from 1921 to 1935). Banks can order these through their Federal Reserve connection because they are still legal tender, even though they have not been made for decades.
Key Takeaways
- Your bank can order silver dollars from the Federal Reserve, but you must request them in advance and wait one to two weeks for delivery.
- You pay the face value of the coins (usually $1 per silver dollar) plus a handling fee that varies by bank.
- The bank will only order them if you have an account there and the funds available to pay for them.
- Coin dealers and online sellers often have silver dollars in stock when ready, though they charge a premium above face value based on the coin's age and condition.
What happens when you order silver dollars from your bank
Call or visit your bank and tell them you want to order silver dollars. They will ask how many you want and what type (Morgan or Peace dollars are the easiest to get). The bank then submits the order to its Federal Reserve branch, which fills it from its inventory.
The Federal Reserve keeps these coins on hand because they are still currency. Your bank receives the order, notifies you, and you pick them up or have them deposited into your account. Some banks charge a flat fee per order; others charge a small percentage. Ask your specific bank what they charge before you commit.
Why banks do not stock silver dollars regularly
Silver dollars are not used in everyday transactions anymore. Most people who want them are collectors, investors, or people interested in having physical precious metal. Because demand is low and unpredictable, banks do not waste vault space holding them. They order on request instead.
This is different from regular coins like pennies, nickels, dimes, and quarters, which banks keep in stock because people use them every day. Silver dollars sit in collections or safes, so there is no reason for a bank to have them ready.
The cost of ordering through your bank versus buying from a dealer
When you order through your bank, you pay face value plus a small fee. A silver dollar has a face value of $1, so you might pay $1.50 to $3 per coin depending on your bank's fee structure.
Coin dealers and online sellers charge much more — often $20 to $50 per coin or higher, depending on the coin's age, rarity, and condition. They charge this premium because the silver content and collector value are worth more than the $1 face value. If you only want the coins as currency or for the silver metal itself, ordering through your bank is far cheaper. If you want specific rare dates or high-quality coins, a dealer is your only option because banks cannot order those.
How to learn about your bank can order silver dollars
Not every bank offers this service. Call your bank's main branch and ask if they can order silver dollars from the Federal Reserve. Some smaller banks or credit unions may say no, either because they do not have a Federal Reserve relationship or because they do not offer the service. If your bank says no, try another bank in your area or ask if they can refer you to one that does.
When you call, have your account number ready and ask about their fee structure upfront. Also ask how long the order takes — most say one to two weeks, but some may take longer depending on Federal Reserve availability.
What to expect when you receive your order
Silver dollars arrive in rolls, usually 20 coins per roll. They come in paper sleeves or plastic holders. The coins may show wear and tarnish from age, which is normal — they are circulated currency, not mint-condition collector pieces.
Once you receive them, they are yours to keep, spend, or sell. If you decide later that you want to sell them back, coin dealers will buy them at the current silver price minus their margin. Your bank will not buy them back.
Alternatives if your bank cannot order them
If your bank will not order silver dollars, you have two other routes. The first is to visit a local coin dealer in person. They usually have silver dollars in stock and can show you what they have. You pay their asking price, which includes their markup, but you get the coins when ready.
The second is to buy online from a coin dealer or marketplace. Sites like eBay, APMEX, and JM Bullion sell silver dollars, but shipping takes several days and you pay a premium. Read the seller's reviews and return policy before you buy, because condition and authenticity matter when you are paying above face value.
Frequently Asked Questions
Can I order silver dollars if I do not have a bank account?
No. Banks only order coins for their own customers. If you do not have an account, you would need to open one first, or buy from a coin dealer instead. Opening a basic checking account takes about 15 minutes and requires an ID and initial deposit.
Are silver dollars worth more than their face value?
Yes, because they contain about 0.77 ounces of silver. The value changes with the silver market price. A Morgan or Peace dollar is worth at least the silver content, plus a small premium for being a collectible coin. Rare dates or high-quality coins are worth much more.
How long does it take to get silver dollars from the Federal Reserve?
Usually one to two weeks from the time your bank places the order. Some banks may take longer if the Federal Reserve is out of stock or if there is a backlog. Ask your bank for a specific timeline when you place the order.
Can I spend silver dollars at stores?
Technically yes — they are legal U.S. currency with a $1 face value. In practice, most stores will not accept them because they are not in regular circulation and staff may not recognize them. It is better to keep them as collectibles or sell them to a dealer.
What is the difference between a Morgan dollar and a Peace dollar?
Morgan dollars were made from 1878 to 1921 and show Lady Liberty on one side and an eagle on the other. Peace dollars were made from 1921 to 1935 and also show Liberty and an eagle, but with different designs. Both contain the same amount of silver and are equally straightforward to order through a bank.