Morgan Silver Dollar Coins

Morgan Silver Dollar: A Legacy of America's Rise to Prominence

The Morgan Silver Dollar, first minted in 1878, is one of the most beloved and historically significant coins in U.S. numismatics.

Named after its designer, George T. Morgan, the coin was produced until 1904, briefly in 1921, and revived as a collectible coin in 2021. Its classic design and historical connection to America’s silver industry make it highly sought after by collectors.

Key Features:

• Face Value: $1 USD (One U.S. Dollar)

• Composition: 90% silver, 10% copper, with a net silver weight of 0.7734 troy ounces.

• Diameter: 38.1 mm; Weight: 26.73 grams.

Obverse (Front) Design:

The obverse of the Morgan Dollar features Lady Liberty in profile, wearing a Phrygian cap (symbolizing freedom) adorned with agricultural elements like wheat and cotton, representing American prosperity and agricultural strength.

The word "Liberty" appears subtly on the band of her cap, in line with the tradition of U.S. coinage as mandated by the Coinage Act of 1792.

• Inscriptions on the obverse:

  • "E PLURIBUS UNUM" (Latin for "Out of Many, One")

  • The year of minting (e.g., 1878, 1893, 1921)

  • Thirteen stars surround Liberty, symbolizing the original 13 colonies.

Reverse (Back) Design:

The reverse side showcases a majestic bald eagle with outstretched wings, clutching an olive branch and arrows in its talons, symbolizing peace and military preparedness.

• Inscriptions on the reverse:

  • "UNITED STATES OF AMERICA"

  • "ONE DOLLAR" (denomination)

  • "IN GOD WE TRUST" (the national motto, written above the eagle’s head)

  • If applicable, the mint mark appears between the “D” and “O” in "DOLLAR" (for mints like San Francisco (S), Carson City (CC), New Orleans (O), and Denver (D)).

Key Historical Events:

Presidents and Legislative Acts that Made the Morgan Dollar Possible:

1. President Rutherford B. Hayes (1877–1881):

   • Bland-Allison Act (1878): Passed during Hayes' presidency, this act was the catalyst for the creation of the Morgan Silver Dollar. Hayes initially vetoed it, but Congress overrode his veto on February 28, 1878. The act required the Treasury to purchase between 2 and 4 million dollars’ worth of silver each month to mint silver dollars.

2. President Grover Cleveland (1885–1889, 1893–1897):

   • Sherman Silver Purchase Act (1890): Signed during President Benjamin Harrison's administration but repealed by Cleveland in 1893, this act increased silver purchases but reduced the minting of silver dollars. Cleveland repealed it to curb inflation caused by silver overproduction.

3. President Woodrow Wilson (1913–1921):

   • Pittman Act (1918): Signed by Wilson, this act authorized melting millions of Morgan Silver Dollars to support Britain during World War I. It mandated re-minting silver dollars, leading to the final year of Morgan Dollar production in 1921.

4. President Donald Trump (2017–2021):

   • 2021 Silver Dollar Coin Anniversary Act: Signed on January 5, 2021, this act authorized the U.S. Mint to issue new Morgan and Peace Dollars to commemorate the 100th anniversary of their transition.

Key Legislative Acts:

• Coinage Act of 1792: Required all U.S. coins to bear the word "Liberty" and an image of liberty on the obverse, and an eagle on the reverse, setting the design framework for future coinage.

• Bland-Allison Act (1878): Mandated the Treasury to purchase silver for minting into silver dollars, directly leading to the Morgan Dollar's creation.

• Sherman Silver Purchase Act (1890): Increased silver purchases but limited silver dollar minting; its repeal in 1893 decreased silver coinage.

• Pittman Act (1918): Allowed melting up to 350 million silver dollars (mainly Morgan Dollars) and mandated their replacement, leading to the 1921 mintage.

• 2021 Silver Dollar Coin Anniversary Act: Authorized new Morgan and Peace Dollars in 2021, struck in .999 fine silver, which quickly sold out.

Revival in 2021:

To commemorate the 100th anniversary of the Morgan to Peace Dollar transition, the U.S. Mint reissued Morgan Dollars in 2021. These modern coins, made of .999 fine silver, were highly sought after and sold out rapidly, marking the Morgan Dollar's return as a collectible treasure.

Key Dates & Rarities:

• 1893-S: The rarest Morgan Dollar, with only 100,000 minted, highly prized among collectors.
• 1921: Final year of original Morgan Dollar production before the Peace Dollar replaced it.
• Carson City Morgan Dollars (CC): Sought-after due to low mintages at the Carson City Mint.

Mint Locations:

1. Philadelphia Mint (no mint mark): The primary mint for Morgan and Peace Dollars.
2. San Francisco Mint (S): Known for high-quality coinage and lower mintages.
3. Carson City Mint (CC): Produced some of the rarest and most valuable Morgan Dollars.
4. New Orleans Mint (O): Minted Morgan Dollars from 1879 to 1904.
5. Denver Mint (D): Struck Morgan Dollars only in 1921; a major mint for modern coinage.

Historical and Economic Context:

The Morgan Silver Dollar was pivotal in U.S. monetary policy during the late 19th and early 20th centuries. Introduced after the Bland-Allison Act of 1878 to support the silver industry and maintain the silver standard, it bolstered the nation's currency during industrial growth.

The Pittman Act of 1918 emphasized silver dollars' importance by melting millions to aid Britain during WWI. Its provision to re-mint silver dollars led to the 1921 Morgan Dollar issuance before being replaced by the Peace Dollar.

Modern Collectibility:

Today, the Morgan Silver Dollar is treasured for its beauty, historical significance, and rarity. Collectors seek key dates and mint marks like the 1893-S and Carson City issues, which command high premiums. The 2021 reissuance solidified its status in American coin collecting.

Important to Remember:

Morgan Dollars offered in both Brilliant Uncirculated (BU) and Almost Uncirculated (AU) condition can exhibit natural signs of wear, such as marks, blemishes, and tarnish.

This is particularly common with older silver coins that have been exposed to air containing sulfur gases.

Over time, traces of sulfur found in the air can lead to discoloration and darkening of silver.

These imperfections, including slight wear for AU coins, are typical for vintage coins and reflect their history and age, which can add to their character and appeal for collectors, significantly impacting their collectible value.