Investing In Gold And Silver For Capital Preservation And Appreciation

The Morgan Silver Dollar

Morgan Silver Dollar coins were designed by George T. Morgan in United States. Issued between 1878 and 1904, these coins were again re-minted in 1921. With a purity of .900 every coin is made up of using 24.057 grams of silver.


Morgan Silver Dollar coins were designed by George T. Morgan in United States. Issued between 1878 and 1904, these coins were again re-minted in 1921. With a purity of .900 every coin is made up of using 24.057 grams of silver.

On the obverse side of the coin was the depiction of the face of Lady of Liberty while the reverse side had the portrayal of an eagle holding arrows and branch of olive. Also Morgan artistically placed his monogram at the neck of Lady of Liberty.

There was a great recovery of silver during in 1859 during The Comstock Lode. Due to this the silver prices dipped worldwide. In 1878 the US Government made it compulsory for the asset department to buy tons of silver and convert them into coins by approving and passing the Bland-Allison Act. Minted in 1878; the Morgan Dollar, being silver, became the first of its kind to circulate and make it available for the public as silver was only used for the Orient Trade.

Treasury department went on minting these coins till the 1904. The demand and supply ratio changed so much that there was scarcity of silver bullion in the treasury. Hence to recover the silver in the treasury department; the Pittman Act was passed in 1918 to melt 270 million coins.

The Morgan dollars were in 1921 re-minted and modified to the Peace dollar remembrance. This minting continued only for a year. After that the prices of silver shot so high that the Morgan dollars were melted as these dollars obtain the same amount as the silver bullion.

Four mints had the privilege to mint these coins, namely: Carson City Mint in Nevada, New Orleans Mint in Louisiana, Denver Mint in Colorado, and San Francisco Mint in California. To mark their identity of location each of the mints used their initials on the coin on the feathers of the Eagle between the letters D and O of the “Dollar” as CC, O, D, and S respectively.

Deep Mirror Proof Like (DMPL) – There were many Morgan Dollar coins in circulation which were more reflective in appearance giving mirror like effect both on the front and back side of the coin. These coins were termed as heavy DMPL, means they were deeply frosted. Most of these coins were minted from San Francisco Mint, and fetch much more than the other regular coins. Such reflective surface coins were then called “Prooflike”. They naturally carried premium over the other similar coins.

In 1918, the Pittman Act resulted in shortage of the Morgan Silver Dollar and hence these coins became rare and precious among the collectors. The Coin Dealer Newsletter stated that the MS-65 coin was once priced at $200,000 and MS-67 1895-O was auctioned for $575,000 during the Heritage Auction in November 2005.

Alan Brenner maintains 1900SilverDollar.com. A site dedicated to the Morgan Silver Dollar with a nice selection of 1899 Silver Dollars.

, , , , , , , , , ,