It represented the countrys westward expansion and industrial development in the late 19th century. It also included verbiage stating that the government would mint 2 million silver dollars per month, leading to the origin of the Morgan Silver Dollar. Adhering to the requirements written in the Coinage Act of April 2, 1792 (1 Stat. By continuing to browse our site, you agree that you have read and understand our Privacy Policy. [33] The U.S. Treasury discovered previously unknown mint bags in its vaults containing slightly more than 2.8 million Carson City silver dollars. The US Mint began striking Morgan Dollars again in 2021, initially as a commemorative to celebrate the 100th anniversary of the conclusion of the designs final usage, then as an annual release starting in 2023. Today, prices start at $40 for a coin in very good, circulated condition (VG-8) and go up to $5,750 for a coin in mint condition that has never been circulated, with a high-quality silver luster (MS-65). 1921 Morgan Silver Dollar - $36 (N Olmsted) image 1 of 5 QR Code Link to This Post. A noteworthy pedigree will also influence the price of a Morgan silver dollar. [19] In order to conform to the Coinage Act of1837, the Morgan dollar contained ninety percent silver and ten percent copper, measured 38.1 millimetres (1.50in) in diameter and weighed 412.5 grains (26.73g). Morgans in these hoards were generally kept in bags, hence the "bag marks" you will find on Morgans today. [27] The Pittman Act authorized the U.S. to melt up to 350,000,000 silver dollars,[27] and this commenced immediately after the Act's passage. Prices start at $150 for a coin in very good, circulated condition (VG-8), and go up to $38,000 for a coin in mint condition. The mint sourced its silver from the legendary Comstock Lode. It was struck again in 1977 and1978, but this time only with the copper-nickel clad version. These locations were Carson City (CC), New Orleans (O), San Francisco (S), Denver (D) and Philadelphia (no mark). Buy Bulk Morgan Silver Dollars (1878-1904) Online Morgan Silver Dollars were minted from 1878 until 1904, and again in 1921. Over the years, hundreds of millions of Morgan Dollars were melted. Calculate 90% silver value : ( 26.07 .0321507466 26.73 .90) = $20.1638519270. Prices start at $29 for a coin in very good, circulated condition (VG-8), but you can earn a whopping $17,250 for a coin in mint condition that has never been circulated. Without the required government purchases of silver, the production of silver dollars promptly declined, leading to the creation of numerous low mintage issues. The Morgan was the first silver dollar that was minted after the demonetization of silver set by congress in the Coinage Act of 1873. 1921 $1 Silver Morgan & 1957 $1 Silver Certificate 2-pc Set XF & VF, 1878-P Morgan Silver Dollar 7-Tail Feathers XF, 1884-O Morgan Silver Dollar PCGS/NGC MS63, 1921-1922 Morgan Silver Dollar and Peace Dollar Set - 2PC, 2021(P) Morgan Silver Dollar BU w/O Privy Mark, 1887-P $1 Railroad Silver Dollar XF w/Railroad Stock Certificate, 18831885-O Morgan Silver Dollars 3-pc Set PCGS MS63 w/$5 State of Louisiana Baby Bond, 18921921 50 & $1 George T. Morgan 2-pc Set, 1881-S Wyatt Earp Morgan Silver Dollar BU, 1878-P Morgan Silver Dollar 8 Tail Feathers XF, 1883-O Morgan Silver Dollar w/18701880 $5 State of Louisiana Baby Bond. The inscription E PLURIBUM UNUM appears above, with the date below. In response to economic conditions and pressure from the silver mining industry, the Bland-Allison Act was passed in 1878 to restore the standard silver dollar. The 1887-O Morgan dollar coin was made at the New Orleans Mint. [3] With such a system in place, bullion producers could have silver coined into dollars when the intrinsic value of a silver dollar was lower than the face value, thus making a profit, flooding the money supply and causing inflation. The Peace Dollar was struck from 1921-1928, at which point demand for the dollar was low, and the silver supply resulting from the Pittman Act ran out. The 1893-S Morgan dollar coin was made at the San Francisco Mint. Its fine silver weight is 0.77344 troy oz. This is a short abbreviation on the coin that tells you the location where it came from: In the case of coins from the Philadelphia Mint, the mintmark is omitted. Morgan Dollar, MS | Morgan Dollar, PR | Morgan Dollar, SP. Shop at: APMEX David Lawrence L&C Coins Collectors Corner eBay U.S. The 1891-O Morgan dollar coin was made at the New Orleans Mint. However, the total melt value is continued below. The price chart above is provided for general information purposes. [36] The legislation also stated that all proceeds from the sale were to be "covered into the Treasury as miscellaneous receipts. Linderman favored the designs created by Morgan and production of the new silver dollars would commence on March 11, 1878, about a week after the passage of the Bland-Allison Act. In 1890, the BlandAllison Act was repealed by the Sherman Silver Purchase Act, which required the Treasury to purchase 4,500,000 troy ounces (140,000kg) of silver each month, but only required further silver dollar production for one year. CoinTrackers.com is an invaluable resource dedicated to helping the coin collector and silver community. Click here for the full Morgan silver dollar price chart. Since the New Orleans Mint relied on silver coin production for business, this ultimately led to its shutdown as a Mint facility. The House bill allowed Free Silver; one of Allison's amendments struck that provision. It was the first standard silver dollar minted since the passage of the Coinage Act of 1873, which ended the free coining of silver and the production of the previous design, the Seated Liberty dollar. 1893 S Morgan Silver Dollar - $550,000 2.) The great big list of Morgan Silver Dollar important dates, also known by collectors as Key Dates. The Morgan Dollar Obverse Design bears a beautiful close-up profile of Lady Liberty facing left, wearing a Phrygian crown that symbolizes freedom, encircled with a ribbon inscribed with LIBERTY. Our price of $39.00 each is guaranteed $50-$65 lower than several leading national retailers. Morgan Silver Dollar (1878-1921) Produced for more than 40 years, the Morgan Silver Dollar was in circulation longer than any other. [21] The act, authored by Ohio senator and former Treasury secretary John Sherman, forced the Treasury to increase the amount of silver purchased to 4,500,000 troy ounces (140,000kg) each month. Click on this link to see the Top 100 Morgan VAMs.. Click on this link to see the Hit List 40.. Ron Guth: The Coinage Act of 1873 demonetized silver, leading to the demise of the silver dollar. After World War I, the Pittman Act of 1918 authorized the melting of millions of previously minted silver dollars (primarily Morgan Dollars). It requires the Secretary of the Treasury to mint and issue $1 silver coins in recognition of the 100th anniversary of completion of coinage of the Morgan Dollar and the 100th anniversary of commencement of coinage of the Peace Dollar. 1891 portrait of Anna Willess Williams. [37] Authorization came at the behest of several hobby publications, who enlisted readers to contact their local congressmen and persuade them to pass necessary legislation. The new silver dollars would feature a design by George T. Morgan, an English-born immigrant. [24] Silver dollar production rose again,[19] until the bullion was exhausted in 1904, when it ceased. Coin Values Moving with Precious Metals: Up-Dated 4/10/2023: Gold $1991 | Silver $24.76 Morgan Silver Dollar Values Popular and always in demand, minimum Morgan silver dollar values begin at $22.59 for a heavily worn example. The composition of the Morgan Silver Dollar contains 90% pure silver and 10% copper. U.S. Mint records indicate that only ten Proof Trade Dollars were minted in 1884. The coin has since been dubbed the "Morgan" dollar as an homage to the coin's celebrated designer, George T. Morgan. 1 2 3 4 5 Minted in 1975 and 1976, the Bicentennial Dollars obverse was akin to the Eisenhower Dollar, with the exception of the dual-date addition of 1776-1976. Find many great new & used options and get the best deals for 2 1878 Morgan Silver Dollar 8TF VAM 23 Top 100 Double Lips NGC MS 62 Proof-like at the best online prices at eBay! The Mint produced the 2021 Morgan Dollar with an uncirculated finish in five versions of the reverse to recognize the Mint facilities that minted the original coin. Again, it will always depend on the exact condition of the coin. This situation led to the Act of 1873 which eliminated the Silver Dollar from regular U.S. coinage altogether. Even at this time, most Americans rarely saw a Silver Dollar in circulation, because most were held in bank vaults, exported, or melted for their precious silver bullion. Above the crown are cotton and wheat that decorate the ribbon that symbolized the reconciliation of the North and South following the Civil War. Liberty Seated Dollar Values. The Nevada facility made 756,000 Morgans that year, including ones with both clear and double-stamped CC marks. This year, the Mint brings those two famous designs back to collectors as a result of the 1921 Silver Dollar Coin Anniversary Act (Public Law 116-286).It requires the Secretary of the Treasury to mint and issue $1 silver coins in recognition of the 100th anniversary of completion of coinage of the Morgan Dollar and the 100th anniversary of commencement of coinage . Learn How to Grade Morgan Silver Dollars Join us today for FREE! The 1903-S Morgan dollar coin was made at the San Francisco Mint, which made 1.24 million Morgan coins that year. [27] The bill, passed on April 22, 1918, stated that "sales of silver bullion under authority of this act may be made for the purpose of conserving the existing stock of gold in the United States, of providing silver for subsidiary coinage and for commercial use, and of assisting foreign governments at war with the enemies of the United States". This iconic silver dollar represented the country's westward expansion and industrial development in the late 19th century. Upon his arrival at the U.S. Mint in Pennsylvania, Morgan was assigned the task of designing the Silver Dollar and working on patterns for the Half Dollar. The Comstock Lode, a massive silver discovery in 1859, flooded the U.S. market with silver and caused the value of silver coins to drop. It was minted one last time prior to World War II, with the passage of what was referred to as the Silver Purchase Act of 1934. Free shipping for many products! [35] The coins were sorted and mounted in small plastic display cases. One leading authentication service estimates that they have seen 1.4 million of these historic silver dollars. In order to mint the coin on the Dollar the die needed to be larger and the words half dollar were replaced with "one dollar". It was the first standard silver dollar minted since the passage of the Coinage Act of 1873, which ended the free coining of silver and the production of the previous design, the Seated Liberty dollar. In order to satisfy the Pittman Act, production of the Morgan Dollar resumed in 1921 at Philadelphia, San Francisco, and for the first time Denver. Like its predecessor, the Bicentennial Dollar was minted with two different compositions and was struck at the Philadelphia, Denver, and San Francisco Mints. This is a labor of love you might say, so it is resource intensive and slow. $80 each / BEST OFFER for BOTH *TWO (2) AVAILABLE Dates "1880 & 1904"420 * Encased in Lucite - Round "Ball Shape" on stand / Genuine Silver Dollars Approx. United States Mint All Rights Reserved. E PLURIBUS UNUM is above Libertys head, with 13 stars below. [2] Prior to enactment of the Coinage Act, silver could be brought to the mints and coined into legal tender for a small fee. The Philadelphia Mints 1895 proof production is believed to have consisted of only 12,000 coins. The 1895-S Morgan dollar coin was made at the San Francisco Mint and is rare, as it's only one of 400,000 Morgan coins made that year. It represented the country's westward expansion and industrial development in the late 19th century. Prices in USD Change. 1896 O Morgan Silver Dollar - $140,000 We offer reliable real coin melt conversions and hand written stats on each and every coin in our database. 1878 Morgan Silver Dollar Although the silver dollar had been regarded as the cornerstone of the American monetary system, during its early history the denomination experienced sporadic circulation and long interruptions in production. Encircling the coin above is UNITED STATES OF AMERICA with the denomination, ONE DOLLAR, with stars on either side. Browse our website GovMint.com or call 1-800-642-9160 to see how Morgan Silver Dollars can enhance your coin collection today. These coins were minted from 1878-1904 and then in 1921. That year, the Louisiana facility struck a run of coins with a double-die mark on the face of Lady Liberty. The coins were struck under the specifications set forth in the Coinage Act of 1837 and legal tender for all debts and dues both public and private. Morgan Dollar The Morgan dollar, designed by George T. Morgan, was struck intermittently from 1878 to 1921. The coins were polished and handled carefully to avoid being marked. Once again, legislation played a role in the silver supply chain because of the passage of the 1890 Sherman Silver Purchase Act. Linderman, asking if he knew of someone who could fill the position of Assistant Engraver of the U.S. Mint. Another coin that was made at the San Francisco Mint, the 1896-S Morgan dollar coin is one of 5 million Morgan coins made in the California location that year. 1889 CC Morgan Silver Dollar - $280,000 4.) The Mint Act of April 2, 1792 made it possible for the United States to strike its own coinage. [4] The act ended production of the standard silver dollar (then the Seated Liberty dollar, as designed by Christian Gobrecht) and provided for mintage of a silver trade dollar, which was intended to compete with Mexican dollars for use in the Orient. All purchases are expressly conditioned upon your acceptance of our Terms and Conditions; to decline, return your purchase pursuant to our Return Policy. Due to the high original Morgan Dollar mintages, many issues are readily available even in gem grades. Most passed through the U.S. economy when a 90% silver dollar was a day's pay for many Americans. A list of linkable tags for topics mentioned on this page. So if there is no mintmark, you'll know your coin comes from Philadelphia. Prices start at $2,430 for a coin in very good, circulated condition (VG-8), and go up to $300,000. The Philadelphia Mint was the only facility that did not put a letter mark on Morgan dollars. Although the silver dollar had been regarded as the cornerstone of the American monetary system, during its early history the denomination experienced sporadic circulation and long interruptions in production. There was very little demand for dollar coins, however. [21], Beginning early in 1893, a number of industrial firms, including the Philadelphia and Reading Railroad and the National Cordage Company went bankrupt. It was only briefly in operation, however. On December 18, 2020, the United States Senate unanimously approved the bill, and it was signed into law by President Donald Trump on January 5, 2021. Your browser is out of date. Morgan Silver Dollars were minted continuously from 1878 until 1904. Collectors are drawn to the large size, classic design, and relatively robust availability. [25] In June of that year, President Grover Cleveland, who believed that the Panic was caused by the inflation generated by the Sherman Silver Purchase Act, called a special session of Congress in order to repeal it. Due to a bad die, the coins were struck twice with the mark, resulting in a doubled effect. From 1878 to 1904, and again in 1921, 657 million Morgan Dollars were produced in 96 different date-and-mint combinations, over the 27 years of Morgan production. $20.1638 is the rounded silver value for the 1878-1921 silver Morgan dollar on April 13, 2023. When those silver reserves were depleted in 1904, the Mint ceased to strike the Morgan dollar. Note that of the 2021 Philadelphia Morgan Dollars, a third were minted with a "CC" privy mark and a third were minted with an "O" privy mark. [10] Morgan's friend, artist Thomas Eakins, suggested he use Anna Willess Williams of Philadelphia as a model. From 1878 to 1904, and again in 1921, 657 million Morgan Dollars were produced in 96 different date-and-mint combinations, over the 27 years of Morgan production. The store will not work correctly in the case when cookies are disabled. [46] The number of dollars surviving are unknown as the Pittman Act resulted in the melting of millions of these coins, and the individual dates melted were never recorded. It depends on their condition and the date they were minted, among other factors. In 1971, the Mint produced Eisenhower copper-clad and silver-clad dollars. Uncirculated silver Morgan dollar coins garner the highest prices. [30] The change in design was actually authorized under an 1890 act of Congress,[31] which stated: But no change in the design or die of any coin shall be made oftener than once in twenty-five years from and including the year of the first adoption of the design, model, die, or hub for the same coin: Provided, That no change be made in the diameter of any coin: And provided further, That nothing in this section shall prevent the adoption of new designs or models for devices or emblems already authorized for the standard silver dollar and the five-cent nickel piece as soon as practicable after the passage of this act. All rights reserved. [8] Linderman contacted C.W. The Morgan Dollar is minted in 90% silver and 10% copper. Below the eagle and around its sides is a wreath of laurel to honor the nations achievements. So you can multiply that times the current price of silver to find out the absolute minimum your coin should be . That year, the Louisiana facility re-used dies from 1886, altering the six to a seven, and part of the six can still be seen on the 1887 coins. When he came to the United States in 1876, he was hired as the assistant engraver of William Barber and started working on a number of patterns for the half dollar. This act restored silver as legal-tender. Prices start at $225 for a coin in very good, circulated condition (VG-8), you can earn up to $30,000 for a coin in mint condition. [35] Legislation was passed on December 31, 1970 directing the Treasury to transfer the silver dollars to the Administrator of General Services who was given the responsibility for marketing and selling the coins. Prices start at $300 for a coin in good, circulated condition (G-4) and go up to $41,125 for a mint, uncirculated coin (MS-65). These three coins, spanning 100 yearsfrom the first Morgan Dollar in 1878 to the final Eisenhower Dollar in 1978share a connection through history and legacy. As a result, in 1873, the Coinage Act stopped the production of silver coins in the United States. The abbreviation comes from "Van Allen Mallis." As far as Morgan and the rest of the nation was concerned, the era of the Silver Dollar had come to an end. The original design was for that of a half dollar. The 1901 Double Die Reverse, or Shifted Eagle, Morgan dollars were made at the Philadelphia Mint and dont bear a letter mark. On December 31, 1970, President Richard M. Nixon signed into law the Bank Holding Company Act Amendments of 1970. That makes them less expensive than their counterparts from other mints. JavaScript seems to be disabled in your browser. The 1894-S Morgan dollar coin was made at the San Francisco Mint, which used the S letter mark. A die break caused one of the most famous Morgan dollar VAMs called "Scarface." We offer free shipping on orders of $149 or more and have a 30-day return policy for all non-bullion items. Each mint, with the exception of Philadelphia, has its own mint mark. In 1878, dies that were originally made for the San Francisco Mint with the letter S were altered to the letter O for the New Orleans Mint. Image source: CoinStudy. 2. Proof-like 1895-O Morgan dollar (reverse). During this time, the United States went through many changes as the "Age of Technology" became a reality. The mintage on the coin was 12,760,000 and it is estimated that approximately half are still in mint state. The Peace Dollar Source The United States Mint introduced the Peace Silver Dollars in December 1921 to celebrate the newfound peace after the World War. The eagle is clutching both an olive branch and 3 arrows in its talons, symbolizing peace, yet readiness for war. These are the Bland-Allison Act and the Sherman Silver Purchase Act. The 1893-CC Morgan dollar coin was made at the Carson City Mint. It was passed in Congress in February of 1878. Your browser is out of date. New York sculptor Anthony de Francisci's imagery won a competition for the . and new product arrivals. 3- Peace Silver Dollars (1922,1923,1934) do NOT contact me with unsolicited services or offers. The 1895-O Morgan Dollar coin was made at the New Orleans Mint, which made 450,000 Morgan coins that year.
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