Morgan Silver Dollar - Rare Coin Profile
Feb 27th 2024
Morgan Silver Dollar - Rare Coin
The Morgan Silver Dollar is one of the most popular U.S. coins of all time, made possible by the Bland-Allison Act of 1878. These coins were minted from 1878-1904 and again in 1921 for a final year of production.1921 served as a transition year, as the Peace Dollar started to be minted in that same year. The 1921 Morgan Dollar was made possible by the Pittman Act, which authorized the melting down and reissuance of millions of Morgan Silver Dollars.This piece was the first, standard issue dollar produced by the U.S. Mint since the Seated Liberty Dollar, which ended production in 1873. The coin is composed of 90% silver and contains .7734 ounces of pure silver.
Basics
Date(s): 1878-1921
Designer: George T. Morgan
Metal Content: 90% Silver, 10% Copper
Silver Content: .7734
Edges: Reeded
Diameter: 38.1 mm
Thickness: 2.4 mm
Mint(s): Philadelphia, New Orleans, San Francisco, Carson City, Denver
Denomination: $1
The designer of the Morgan Dollar is esteemed George T. Morgan. The obverse of the coin depicts a portrait of Lady liberty. The words “E Pluribus Unum,” the date and thirteen stars can also been seen on the obverse of the coin. The letter “M” can also be found at the neck of Lady Liberty’s portrait, which is the initial of the designer. The reverse is beautifully designed with an eagle that is holding arrows and an olive branch. These are meant to be symbols of peace and war. The words “In God We Trust,” “United States of America,” and “One Dollar” are also featured on the reverse of the Morgan Silver Dollar. If the coin contains a mintmark, it can be found above the letter “O” in the word “Dollar” on the reverse. It is important to note that coins minted at the Philadelphia mint do not have a mintmark.
Although these coins were released into circulated, numerous coins were stored in treasury vaults and released by the government in the 1960’s. This silver coin was minted from 1878-1904 and again in 1921. These Morgan Dollars are often associated with the Wild West, which is likely attributed to its tremendous popularity.
The Morgan Silver Dollar series is made up of numerous coins and the series contains numerous rarities. However, it is important to note that the Morgan Silver Dollar series has a coin for all collectors. This means that affordable coins, ultra rarities and everything in between exists.
Some popular collecting methods include picking out VAMS or varieties found within the series, building date sets or complete sets. Some collectors simply purchase these coins in bulk to take advantage of the Morgan Silver Dollar’s silver and numismatic value.
Key Dates
1884-S, 1889-CC, 1892-S, 1893-S, 1893-CC, 1895-P (Proof), 1895-O
*Other key dates exist. This only encompasses some of the rarest of Morgan Silver Dollars.
Mintage Table
| Date | Philadelphia | New Orleans | San Francisco | Carson City | Denver |
| 1878 | 10,500,000 | 0 | 9,774,000 | 2,212,000 | 0 |
| 1879 | 14,806,000 | 2,887,000 | 9,110,000 | 756,000 | 0 |
| 1880 | 12,600,000 | 5,305,000 | 8,900,000 | 591,000 | 0 |
| 1881 | 9,162,991 | 5,708,000 | 12,760,000 | 296,000 | 0 |
| 1882 | 11,100,000 | 6,090,000 | 9,250,000 | 1,133,000 | 0 |
| 1883 | 12,290,000 | 8,725,000 | 6,250,000 | 1,204,000 | 0 |
| 1884 | 14,070,000 | 9,730,000 | 3,200,000 | 1,136,000 | 0 |
| 1885 | 17,787,000 | 9,185,000 | 1,497,000 | 228,000 | 0 |
| 1886 | 19,963,000 | 10,710,000 | 750,000 | 0 | 0 |
| 1887 | 20,290,000 | 11,550,000 | 1,771,000 | 0 | 0 |
| 1888 | 19,183,000 | 12,150,000 | 657,000 | 0 | 0 |
| 1889 | 21,726,000 | 11,875,000 | 700,000 | 350,000 | 0 |
| 1890 | 16,802,000 | 10,701,100 | 8,230,373 | 2,309,041 | 0 |
| 1891 | 8,693,556 | 7,954,529 | 5,296,000 | 1,618,000 | 0 |
| 1892 | 1,036,000 | 2,744,000 | 1,200,000 | 1,352,000 | 0 |
| 1893 | 378,000 | 300,000 | 100,000 | 677,000 | 0 |
| 1894 | 110,000 | 1,723,000 | 1,260,000 | 0 | 0 |
| 1895 | 880 | 450,000 | 400,000 | 0 | 0 |
| 1896 | 9,976,000 | 4,900,000 | 5,000,000 | 0 | 0 |
| 1897 | 2,822,000 | 4,004,000 | 5,825,000 | 0 | 0 |
| 1898 | 5,884,000 | 4,400,000 | 4,102,000 | 0 | 0 |
| 1899 | 330,000 | 12,290,000 | 2,562,000 | 0 | 0 |
| 1900 | 8,830,000 | 12,590,000 | 3,540,000 | 0 | 0 |
| 1901 | 6,962,000 | 13,320,000 | 2,284,000 | 0 | 0 |
| 1902 | 7,994,000 | 8,636,000 | 1,530,000 | 0 | 0 |
| 1903 | 4,652,000 | 4,450,000 | 1,241,000 | 0 | 0 |
| 1904 | 2,788,000 | 3,720,000 | 2,304,000 | 0 | 0 |
| 1921 | 44,690,000 | 0 | 21,695,000 | 0 | 20,345,000 |
| Total | 2,788,000 | 3,720,000 | 2,304,000 | 0 | 0 |
What factors led to the discontinuation of the Morgan Silver Dollar production in 1904 and its one-year resurgence in 1921?
The discontinuation of the Morgan Silver Dollar production in 1904 and its resurgence in 1921 can be attributed to a combination of legislative actions and silver bullion supply dynamics. The cessation in 1904 was largely due to the depletion of the silver bullion purchased under the Sherman Silver Purchase Act of 1890, which required the U.S. Treasury to buy large amounts of silver to mint into dollars. By 1904, the government's stockpile of silver had been exhausted, leading to the end of the Morgan Dollar's initial production run. The series' revival in 1921 was facilitated by the Pittman Act of 1918, which authorized the melting down of millions of existing silver dollars, including Morgans, to aid Britain's silver shortage, and required the replacement of the melted coins with new ones, leading to the reissuance of Morgan Dollars in 1921 before transitioning to the Peace Dollar later that year.
How do the different mint locations impact the value and collectibility of the Morgan Silver Dollars?
The value and collectibility of Morgan Silver Dollars are significantly impacted by their mint locations, with each mint carrying its own historical narrative and production idiosyncrasies that appeal to collectors. Coins from the Carson City mint, for example, are especially sought after due to their relatively lower mintages and the mint's iconic association with the silver mining boom in the late 19th century. Morgan Dollars from the Philadelphia mint, on the other hand, do not feature a mint mark, which is a common trait across U.S. coinage minted there. The rarity, historical context, and even specific year of production can influence a coin's desirability and market value, making certain mints' productions more coveted among numismatists.
What are the specific characteristics that define a coin as a "key date" within the Morgan Silver Dollar series, and how do the mentioned key dates fit these criteria?
A "key date" within the Morgan Silver Dollar series is typically defined by its rarity, historical significance, and minting anomalies, among other factors. Key dates are often characterized by low mintage numbers, being part of a significant legislative or historical event, or errors and variations in design. The mentioned key dates, such as the 1895-P (Proof), which boasts an extraordinarily low mintage and is considered one of the rarest and most enigmatic coins in the series, fit these criteria due to their scarcity, production background, and the stories they carry. For instance, the 1889-CC is highly prized due to its association with the Carson City mint and its low production numbers, making it a treasure for collectors seeking pieces with both numismatic value and a rich historical narrative.
Continue reading:
Morgan Silver Dollar Value and History
Peace Silver Dollar Value and History