Today, one of the most popular coins that coin
collectors and numismatists collect is the Morgan Silver Dollar. Because
of its rich history and colorful past, it is considered as one of the most
desired and famous American coins in existence. However, it didn’t use to
be that way. The Morgan Silver dollar used to be ignored in
collection. But now, it is sought after by most people.
There was a moment in time when Morgan silver dollar
coins were not deemed worthy of collecting. But today, it is one of the
most popular coins in the U.S. coinage series. How did this happen?
Actually, this is because there are many Morgans out
there, and people have more chances of getting them at good condition, and at a
reasonable price. For this reason, it is easier to complete a Morgan
collection. About half a billion Morgan Dollars were minted between the
years 1878 and 1904, because of the Bland-Allison Act of 1878 which forced the
U.S. mint to make billions of silver dollars. It mandated that the
Treasury should buy about 2 to 4 million troy ounces of silver every
month.
Also, it is collected because it can be really valuable
to the collector. A certain coin, the 1985 Morgan Dollar is the most
valuable Morgan dollar and is considered as the king of all Morgan silver dollar
coins. In fact, PF-68 specimens of this very rare coin has sold for up to
$120,000 in auctions.
What is a Morgan Silver dollar?
Morgan silver dollar coins are silver dollar coins that
were minted from the years 1878 up to 1904. It was re-minted for another
year, in 1921. The Morgan dollar was authorized by the Bland-Allison Act
during the year 1878. It is called a Morgan dollar because George T.
Morgan designed both the obverse and reverse of the coin. On the obverse
is the Lady Liberty, while the reverse features an eagle holding arrows and an
olive branch.
What are its specifications?
Morgan silver dollar coins weigh 26.71 grams, and have a
diameter of 38.1 mm and a thickness of 3.1 mm. Its edge is reeded.
It is composed of 90% silver and 10% copper. Copper is added for strength
and durability of the coin. Overall, it has a total silver content of
24.057 grams or 0.77344 troy ounces per coin.
Mints
The mintmarks can be found underneath the tail feathers
of the eagle on the reverse, between the letters D and O in the word
Dollar. The mintmarks include:
Blank (Philadelphia Mint)
CC (Carson City)
D
(Denver Mint)
O (New Orleans Mint)
S (San Francisco Mint)
Of all the mints, the more valuable ones are the Morgan
silver dollar coins from Carson City. This is because they usually have a
low mintage, and a Western connection.
As a whole, the Morgan silver dollar series is really
one of the most popular coins in the U.S. coinage series. Because of its
colorful past and availability, it has been most pursued by
collectors.
