The History of the Morgan Silver Dollar
Origin
Morgan dollars were the first standard silver dollars minted after the Coinage Act of 1873. The Bland-Allison Act of 1878 reversed the country’s demonetization of silver, allowing silver coins to re-enter circulation. This act ended the production of the previous silver dollar design, the Seated Liberty dollar.
New and seasoned collectors alike buy Morgan silver dollars. Inspired by the Free Silver Movement, which advocated for unlimited silver coinage to boost the economy, these coins remind us of the entrepreneurial spirit.
The first 1878 silver dollar coin was struck at the Philadelphia Mint. Production continued in not only Philadelphia, but also at the New Orleans, Denver, Carson City, and San Francisco mints.
Design
Designed by British-born George T. Morgan, the US Mint Chief Engraver from 1876 to 1925, the Morgan silver dollar is known for its beautiful and intricate design. It was minted with an alloy of 90% silver and 10% copper.
On the obverse is Lady Liberty’s profile surrounded by 13 stars and the inscription “E PLURIBUS UNUM.” This portrait of Liberty was based on the features of a Philadelphia schoolteacher named Anna Willess Williams. The heraldic eagle of the Great Seal of the United States is on the reverse with the mint mark and "IN GOD WE TRUST."
Overall, the design of the Morgan dollar was considered a great success, and the coin remains a favorite among collectors today. Its unique combination of realism, intricate design, and historical significance make it a valuable and beautiful addition to any coin collection.
Circulation and Availability
The Morgan silver dollar was produced by the United States Mint from 1878 to 1904, and again in 1921. During this time, a total of over 657 million Morgan Silver Dollars were minted across various mint facilities in the United States. The production pause in 1904 was due to the US Mint’s silver reserves from the 1898 Sherman Silver Purchase Act being depleted. With no more silver, the Mint ceased striking new dollars.
In 1921, production of the Morgan dollar resumed for one year only, as there was a high demand for silver dollars due to the Pittman Act. However, the Morgan dollar was eventually replaced by the Peace silver dollar in 1921, which featured a design that was meant to symbolize peace following World War I.
Despite being out of circulation for over a century, collectors still buy Morgan silver dollars. Add one to your collection from L&C Coins’ wide selection.
Build Your Collection With the Support of L&C Coins
is a family-owned business founded in 1974. We’re PCGS and NGC-certified dealers, advertising regularly with Coin World and Numismatic News. Our industry experience and in-depth knowledge of the coin market allow us to offer the best possible coin shopping experience for collectors.
Along with our extensive inventory, our customers enjoy free shipping on standard orders. We also offer express shipping starting at $25. If the coin you receive isn’t quite what you expect, we offer a 15-day return privilege.
Are you ready to expand your collection with brilliant Morgan dollars and more? Order now or contact us with any questions you have about your purchase.
Frequently-Asked Questions
Are Morgan silver dollars worth collecting?
Yes, Morgan dollars are a popular and highly collectible coin among numismatists and coin enthusiasts. Their unique history, design, and rarity make them a valuable addition to any coin collection.
What year Morgan dollars are most valuable?
The most valuable Morgan dollar in existence today is the 1893-S, which is estimated to be worth $550,000 in mint condition. Generally, Morgan dollars minted in 1893 and 1895 tend to be the most valuable due to their lower mintage numbers. However, there are other factors to consider such as condition, rarity, and mint mark.
What are the top 10 Morgan dollars?
The top 10 Morgan dollars are subjective and can vary based on personal preferences and market trends. However, some of the most popular and valuable Morgan silver dollars include the 1878 8 Tail Feathers, 1878 7 Tail Feathers, 1879-CC, 1889-CC, 1893-S, 1895, 1892-S, 1901-S, 1899-O, and 1904-O.
How much is a Morgan dollar with no mint mark worth?
Morgan dollars without a mint mark were minted in Philadelphia and are known as "P" dollars. Their value depends on several factors such as condition, rarity, and year, but you can typically buy Morgan silver dollars for around $20 to $30.
What is the most common Morgan dollar?
The most common Morgan dollar is the 1921 Morgan dollar, which had a high mintage of over 86 million coins and was minted at the Philadelphia, San Francisco, and Denver mints.
How can you tell where a Morgan dollar was minted?
Morgan dollars have mint marks on the reverse side, just above the letters "DO" in the word "DOLLAR." The mint marks indicate where the coin was minted. “P” stands for Philadelphia, "S" for San Francisco, "O" for New Orleans, "CC" for Carson City, and "D" for Denver.
How do I tell if my Morgan silver dollar is valuable?
The value of a Morgan dollar depends on several factors such as year, condition, mint mark, and rarity. The condition of your coin can also be evaluated by looking for signs of wear and tear such as scratches, dents, and discoloration. You can check the current value of your coin by consulting a coin price guide or a trusted coin dealer like L&C Coins.
