Whether you are a novice or advanced collector, the Morgan Silver Dollar makes an excellent addition to any precious metals portfolio. With a fascinating history and a symbolic design, these coins are beloved by numismatists and history enthusiasts alike.
The Morgan Dollar holds the distinction of being the first standard silver dollar struck after the Coinage Act of 1873, which effectively ended the free coining of silver and led to significant economic and political repercussions known as the "Crime of 1873." This act aimed to stabilize the U.S. economy by adopting the gold standard. The Bland-Allison Act of 1878 mandated the purchase of large quantities of silver to be minted into dollars, thus creating the Morgan Dollar. Produced from 1878 to 1904 and again in 1921, the Morgan Dollar was eventually replaced by the Peace Dollar. These coins were minted for over forty years, representing an era of westward expansion and industrialization. In September 2020, the House of Representatives approved the minting of Morgan Dollars alongside Peace Dollars beginning in 2021, reigniting interest in this classic coin.
Designed by Mint Chief Engraver George T. Morgan in 1878, the Morgan Silver Dollar features a rich and symbolic design. The obverse portrays Lady Liberty facing left, adorned with a Phrygian cap and a crown made of cotton, oak, and wheat, representing agricultural prosperity and freedom. The intricate details of Liberty's face and the flowing locks of hair are surrounded by 13 stars, symbolizing the original colonies. Inscriptions include "E PLURIBUS UNUM" and the year of mintage.
The reverse side of the coin depicts a majestic bald eagle with outstretched wings, clutching arrows and an olive branch in its talons, indicating the nation’s readiness to defend peace. The eagle is encircled by a laurel wreath, with inscriptions reading "UNITED STATES OF AMERICA," "IN GOD WE TRUST," and "ONE DOLLAR." The mint marks, except for the Philadelphia Mint (no mint mark), are located on the reverse beneath the wreath's ribbon bow.
Certain Morgan Silver Dollars are particularly prized key dates for their rarity and historical importance:
The original Morgan Dollars were minted between 1878 and 1921, capturing a significant era in American history. Collectors revere these coins for their age, historical context, and intricate design.
Revived in 2021, the modern Morgan Dollars celebrate the legacy of the original coins while incorporating modern minting techniques. These contemporary issues have reignited interest among both seasoned and new collectors.
The value of a Morgan Silver Dollar varies widely, influenced by factors such as the year of mintage, rarity, and condition. Prices can range from around $10 for common dates in lower grades to several thousand dollars for rarer specimens in excellent condition.
For an accurate assessment of your coin's value, professional grading by the Numismatic Guaranty Company (NGC) and the Professional Coin Grading Service (PCGS) is essential. These organizations provide a standardized grading system that impacts the market value of coins, ensuring authenticity and quality.
Morgan Silver Dollars add historical value to any precious metals collection. With a variety of key date issues and an enduring design, these coins are both a smart investment and a piece of American history. When purchasing any coin, it’s crucial to transact with a trusted dealer. Bullion Hunters offers a broad inventory of collectible coins and expert advice. For any inquiries, our customer service team is available through our website or by email during regular business hours.