The Morgan Dollar is asilver united states coin.The dollars wereproduced and mintedfrom 1878 to 1904 and again for one more year in 1921. The Morgan Dollar is named after its designer,George T Morgan, who designed theobverses and reverses of this amazing coin. Truly an artist.Morgan'sfamous monogramappears near theMiss Lady Libertysneck on the obverse. The dollar was authorized by theBlandAllison Actof 1878. It has a fineness of .900, giving a total silver content of 0.77344troy ounces(24.057 grams) per coin. These are the most collected coins amongst all collectors. The design is very famous and one of the best coinage ever minted in the USA.
History
Thefamous gestock lodethe greatest silver strike in history, occurred in Nevada in the late 1850s. The strike put downward pressure on silver prices worldwide. The greatest silver strike in history was followed by the greatest coinageever produced in history. In 1878, to protect the interest of the western states, Congress passed the Bland-Allison Act which forced the mintage of millions of silver dollars and their purchase by the treasury department. The mintage was far more than was needed in circulation. These excess silver dollars quickly began piling up. Some original mint bags of Morgan dollars remained in treasury vaults until the 1960's. This strange past has lead to one of the greatest collectible series in American coins providing collectors with many dates and mint marks readily obtainable in mint state condition along with challenging rarities.
When the dollar was minted in 1878, it was the first dollar issued for American gemercial use since the lastseated liberty dollarof 1873. Then the famousTrade Dollarwas minted during this time period but was for trade inthe orient and other locations. The dollar was continuously minted until 1904 when the supply of dollars in circulation was high and there was an absence of silverbullion and silver mines.Then in 1918, theenforced Pittman Actcalled for over 270 million coins to be destroyed for silver content. In 1921, the coinage of the Morgan Dollar resumed for that year and was replaced by another great design the Peace Dollar gememorative that would begee standard issue. Since 1921, many Morgan Dollars have been melted, mostly when silver prices escalate and they yield silver bullion.
Caches of Morgan Dollars produced at theNevada Carson City Mint were discovered and were sold to coin collectors by the federal government in the late1960's and 1980's.These dollars were uncirculated and are called GSAs and gee in holders that mimic the holders used for the proof silver Eisenhower Dollars. When looking for the CC GSA Morgan Dollar on okay or anywhere you shop, be sure that the GSA card matches the coin. The first 2 digits are usually the date of the coin and look for nice clean GSA box also.
Deep Mirror Proof Like Morgan Dollars (DMPL)
DMPL coins are regular Morgan Dollars that were struck for circulation but have unusually frosted legends and devices and very reflective, mirror-like, fields. There are coins that are heavy DMPL, meaning that they are very frosted/mirrored a good example would be a 1881 S Morgan Silver Dollar this date is usually found to have many DMPL's, and coins that are light DMPL, meaning they are not gepletely frosted/mirrored. These coins occur most frequently during the pre-1883 run of San Francisco dollars. Even with these examples, these coins are worth much more than a regular coin by the same grade. If you search around you can sometimes find one with a bold strike and very reflective for a fair price. They usually demand much higher premiums due to the coins condition and demand.
Storgage For Your Morgans
Always consider taking good care of these coins for a long time. Some Of the best storgage can be airtight holders, coin slabs, NGC or PCGS storgage boxes And Dansco and Whitman Morgan Albums. Be careful of some of the 2x2 flips as they may contain harmful PVC's that over the years can harm your coins. It is worth the investment to purchase the better quality coin supplies to take care of your Morgan Investments.
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