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Gold Expert
The Morgan Silver Dollar is one of the most iconic and sought-after coins in American history. First minted in 1878, this classic silver coin has captured the attention of collectors and investors alike due to its rich history, stunning design, and intrinsic silver value. Congress passed key legislation in February 1878 and January 1921, including the Coinage Act and subsequent laws, which shaped the production and regulation of the Morgan Silver Dollar. Whether you’re a seasoned collector or a first-time investor, understanding the Morgan Silver Dollar can help you make informed choices and build a valuable collection.
The design of the Morgan Silver Dollar features Lady Liberty on the obverse, for which Anna Willess Williams served as the model, and an eagle with outstretched wings on the reverse. The first standard silver dollar minted after the passage of the Coinage Act of 1873, the Morgan Dollar marked a significant return to large silver coinage. The 'one dollar' denomination represented both the face value and the monetary significance of silver in U.S. coinage history. In 2021, the U.S. Mint introduced new silver dollars as a revival of the classic Morgan design, continuing its legacy for modern collectors.
Introduction to Morgan Dollars
The Morgan silver dollar stands as a cornerstone of American numismatics, cherished by collectors for its blend of artistry, history, and intrinsic value. First introduced in 1878, the Morgan dollar was the first standard silver dollar minted following the Coinage Act of 1873, marking a new era in U.S. coinage. Designed by George T. Morgan, an English-born assistant engraver at the Philadelphia Mint, the coin features a striking profile portrait of Liberty on the obverse and a majestic eagle with outstretched wings on the reverse. The Morgan silver dollar’s production at the Philadelphia Mint and other facilities, combined with its significant silver content, has made it a prized addition to any collection. Collectors and enthusiasts often refer to these coins as Morgan silver dollars, silver Morgan dollars, or simply Morgan dollars, underscoring their enduring popularity and importance in the world of silver coin collecting.
History of the Morgan Silver Dollar
The Morgan Silver Dollar was designed by George T. Morgan, an English-born engraver who worked for the U.S. Mint. It was minted from 1878 to 1904, with a final issuance in 1921. The coin features Lady Liberty on the obverse and an eagle with outstretched wings on the reverse.
Over the years, the Morgan Silver Dollar has become a symbol of American coinage history, admired for its craftsmanship and historical significance. Key mints include Philadelphia, New Orleans, San Francisco, Carson City, and Denver, each producing coins with unique characteristics. The number of coins minted at each location varied, with Carson City coins being especially rare and highly sought after by collectors due to their limited mintage.
The Morgan Silver Dollar was replaced by the Peace dollar in 1921, marking a significant transition in U.S. coinage design and purpose.
Inflation and economic factors, such as changes in silver prices and monetary policy, influenced both the production and value of the Morgan Silver Dollar during its era. Nevada played a crucial role in the coin's history, as the Comstock Lode in Nevada provided a major source of silver that fueled the minting of these coins. The late 19th century saw a rise in silver production, which contributed to the increased coinage of Morgan dollars.
Citizens and the general public actively participated in the distribution and collection of Morgan Silver Dollars, especially during government sales and exchanges, making these coins a part of everyday American life.
Features and Specifications of Morgan Silver Dollar
Here’s a quick overview of the coin’s specifications:
| Feature | Details |
| Composition | 90% Silver, 10% Copper |
| Weight | 26.73 grams |
| Diameter | 38.1 mm |
| Edge | Reeded |
| Designer | George T. Morgan |
| Mint Marks | CC, O, S, D, None (Philadelphia) |
| Years of Issue | 1878–1904, 1921 |
The age of a Morgan Silver Dollar plays a significant role in its condition, as older coins often show more wear from circulation, and age can greatly impact both their collectible value and historical significance.
Notable Varieties and Rare Coins:
- 1893-S Morgan Silver Dollar (extremely rare)
- 1889-CC Morgan Silver Dollar
- 1895 Proof Only (one of the rarest coins)
These rare coins can fetch thousands or even millions in the collector’s market.
Mints and Variations
Morgan dollars were produced at several United States Mint facilities, each contributing unique characteristics to the series. The Philadelphia Mint, as the primary mint, issued Morgan dollars without a mint mark, while the San Francisco Mint used an “S,” the Carson City Mint used “CC,” the New Orleans Mint used “O,” and the Denver Mint used “D.” These mint marks, found on the reverse below the wreath, help collectors identify the origin of each coin. Variations in mint marks and production numbers have led to a diverse range of Morgan dollars, with certain dates and mints—such as the 1893-S from San Francisco or the 1889-CC from Carson City—being especially sought after due to their rarity. The combination of different mints, mint marks, and years of issue makes collecting Morgan dollars an exciting and rewarding pursuit, with each coin telling a unique story of its time and place of minting.
Special Issues and Commemoratives
Beyond the regular production runs, Morgan dollars have seen special issues and commemorative releases that add further intrigue for collectors. A notable example is the 2021 Morgan dollar, struck to celebrate the 100th anniversary of the original coin’s final year of production. These commemorative coins often feature distinctive mint marks, finishes, or packaging, making them highly desirable for those looking to expand their collections. The introduction of the Peace dollar in 1921, following the Morgan dollar, also marked a significant moment in U.S. coinage, symbolizing the end of World War I and the nation’s hope for peace. Additionally, historical events such as the issuance of silver certificates, changes brought by the Coinage Act, and the impact of world wars have all influenced the production, availability, and value of Morgan dollars. These special issues and commemoratives continue to capture the imagination of collectors, offering unique opportunities to own a piece of American history.
How and Where to Buy Morgan Silver Dollar
Morgan Silver Dollars are available for purchase both online and offline. If you prefer seeing and handling coins before buying, The Bullion Bank offers an in-person shopping experience. Buyers can have confidence in the authenticity and quality of the coins offered, as we adhere to strict standards and guarantee customer satisfaction.
Visit us offline at:
- Chantilly
4086 Airline Pkwy, Chantilly,
VA 20151, United States - Vienna
131 Maple Ave W, Vienna,
VA 22180, United States
When buying, consider:
- Coin condition and grade
- Authenticity (always buy from reputable dealers)
- Market price and silver content
Morgan Silver Dollars have been sold through official government sales, auctions, and mail bid sales, with proceeds benefiting collectors and institutions. Coins are sometimes sold in their original mint bag or mounted in display cases for presentation. Posters and other marketing materials have historically promoted the sale of Morgan Silver Dollars to collectors. Collectors and dealers may also sell Morgan Silver Dollars through auctions, direct sales, and other channels.
We also offer online options for those who prefer a convenient purchase experience.
Grading and Authentication
Determining the true value of a Morgan silver dollar begins with professional grading and authentication. Reputable grading services like the Professional Coin Grading Service (PCGS) and Numismatic Guaranty Corporation (NGC) meticulously assess each coin’s condition, examining details such as luster, strike, and surface preservation. Grades range from well-worn circulated examples to pristine mint state coins, with higher grades commanding premium prices. Authentication is equally important, as it verifies that a coin is a genuine Morgan dollar and not a counterfeit. This process involves confirming the coin’s weight, composition, and design details, ensuring it matches the specifications of the first standard silver dollar minted. For collectors and investors, having Morgan dollars professionally graded and authenticated not only protects their investment but also enhances the coin’s marketability and value.
Investment Value of Morgan Silver Dollar
Morgan Silver Dollars are not just collectibles—they’re . Their value is influenced by:
- Rarity and year of minting
- Condition and grade
- Historical significance
- Silver market price
Certain rare and valuable Morgan dollars have been sold for record prices at auction, highlighting their desirability among collectors and investors.
Investors often seek high-grade coins (MS-65 or higher) for maximum appreciation potential.
Market Demand and Trends
The enduring appeal of Morgan dollars is reflected in their strong market demand and dynamic price trends. Collectors and investors are drawn to these coins for their historical significance, limited production, and substantial silver content. Factors such as rarity, condition, and provenance play a significant role in determining a Morgan dollar’s value, with coins from the Philadelphia Mint, Carson City, and New Orleans often commanding particular interest. The distribution of Morgan dollars through post offices and banks in the late 19th and early 20th centuries, as well as their storage in Treasury vaults, has contributed to their mystique and desirability. Today, the price of Morgan dollars is influenced by silver market fluctuations, collector demand, and the security of owning tangible assets. Whether you’re seeking a Carson City CC rarity or a common date for your collection, understanding the market trends and factors affecting Morgan dollar values can help you make informed decisions and capitalize on opportunities in this exciting segment of numismatics.
FAQ: Morgan Silver Dollar
Q: How can I tell if a Morgan Silver Dollar is genuine?
A: Check for correct weight (26.73g), diameter (38.1mm), and mint mark. Buy from reputable dealers for authenticity guarantees.
Q: What is the average price of a Morgan Silver Dollar?
A: Prices vary by year and condition. Common dates may start around $30-$50, while rare coins can exceed thousands.
Q: Which Morgan Silver Dollars are most valuable?
A: Key rarities include the 1893-S, 1889-CC, and the 1895 Proof Only.
Conclusion
The Morgan Silver Dollar is more than just a coin; it’s a piece of history and a smart investment. Collectors treasure its beauty, and investors appreciate its silver content and potential appreciation. Whether online or in-person, The Bullion Bank is your trusted source for authentic Morgan Silver Dollars.
Explore our collection today and start building a legacy with one of America’s most iconic coins.
