Without doubt the silver Morgan Dollar is one of the most popular and most collected of all United States coins. Perhaps it's the western lore associated with George T. Morgan's creation. Tales of the old west and the Carson City Mint, and the popularity continues to grow even though some of the coins are reaching astronomical prices.
Created to take advantage of the huge Comstock Lode silver discovery in Nevada these coins are awash in legend. With uninterrupted minting from 1878 to 1904 when the U.S. government depleted the available supply of silver bullion the coin weighed 0.77344 ounces of silver was 38.1 mm with a reeded edge. It was the largest and heaviest coin produced since the Civil War. More than 270 million silver dollars were melted because of the 1918 Pittman act. The coin was minted one last year, 1921, with an estimated mintage of 44.7 million coins.
The silver Morgan Dollar was minted in Philadelphia (no mint mark) for all dates, San Francisco (S) for all dates, New Orleans (O) from 1879 to 1904, Carson City (CC) from 1878 to 1893 and in Denver (D) only for 1921. The lowest year for mintage was the 1893-S with only an estimated 100,000 coins and is considered a key date coin and difficult to find in any grade.
The Morgan Dollar is a beautiful work of art and is considered by many to be the pinnacle of George T. Morgan's career. Lady Liberty's head takes up most of the obverse and is circled by date of issue, thirteen stars and the words "E Pluribus Unum", which means "Out of many, one." On the reverse sits a bald eagle perched on a branch and arrows with wings spread. Partially surrounded by a wreath, above the eagle's head is the motto "In God we Trust" and around the rim are the words "United States of America" separated by a star on either side from the words "One Dollar." A mint mark, if the coin is not from the Philadelphia mint, is located on the reverse directly below the center of the wreath.
Over the years hundreds of varieties, such as the famous seven and eight tail feathers on the reverse, have been discovered making the silver Morgan Dollar more entertaining and interesting to coin collectors and enthusiasts.
Hoards of silver Morgan Dollars have been discovered over the years, including the famous Redfield and Binion finds, but the most famous release came when the US Treasury found nearly 3 million uncirculated Morgan Dollars in the late 1960s. Sales of the silver dollars were conducted by the GSA during the 1970s with the coins housed in GSA holders and boxes and came to be known as GSA Morgan Dollars.
Collecting the Morgan Dollar can be an entertaining, educational and fun hobby. The coins are highly collectible, escalating in value both because of their silver content and their historical value. Morgan Dollars can be found in raw form for relatively low prices, with coins certified by PCGS, NGC and ANACS bringing higher prices but still attainable.
The silver Morgan dollar holds a place in history not just because of its content but because of the times surrounding the coins production. That history covers the time of the Wild West with infamous robbers like Jesse James, Butch Cassidy and the Sundance Kid. It saw the dawn of the industrial age with the forming of the Ford Motor Co., and the first flight of the Wright Brothers. It was the coin of the land and represented the hopes and dreams of a better life for both those who owned it and those who wanted it. It still does today. Enjoy your search and I hope you find what you're searching for.
