Morgan Silver Dollars have captured the imagination of collectors and investors worldwide. These iconic coins, minted in the late 19th and early 20th centuries, have rich historical significance and stunning designs that command attention. In this comprehensive guide, we will explore the design, history, value, and various aspects of the Morgan Silver Dollar.
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ToggleDesign and Characteristics of the Morgan Silver Dollar
The obverse of the Morgan Silver Dollar features a left-facing portrait of Lady Liberty. The design was inspired by Anna Willess Williams, who posed for the coin’s engraver, George T. Morgan. The reverse features an eagle with outstretched wings, clutching arrows and an olive branch. This classic design has become synonymous with American heritage and is recognized worldwide.
Throughout the production period of the Morgan Silver Dollar, various design variations occurred, including differences in date positioning, mintmarks, and minor design changes. Collectors often seek out these variations to complete their collections.
The specifications of the Morgan Silver Dollar include a diameter of 38.1mm, weight of 26.73 grams, and composition of 90% silver and 10% copper. Each coin contains 0.77344 troy ounces of silver.
Production and Mintage
The production of the Morgan Silver Dollar spanned from 1878 to 1904 and again in 1921. Millions of coins were minted at several locations, including Philadelphia (no mintmark), New Orleans (O mintmark), Carson City (CC mintmark), San Francisco (S mintmark), and Denver (D mintmark).
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Morgan Silver Dollar Value
The value of a Morgan Silver Dollar depends on various factors, including its condition, rarity, and demand among collectors. Some mintmarks and years are rarer and more valuable than others. Due to their scarcity and historical significance, certain Morgan Silver Dollars are highly sought after by collectors.
The key dates and varieties to look for include the 1889-CC, 1893-S, and 1895 Proof. These coins are considered rare and can significantly enhance a collection’s overall value.
Morgan Silver Dollars Specifications:
Value: $1
Years of minting: 1878–1904, 1921, 2021–present
Mint marks: Philadelphia, Carson City, San Francisco, New Orleans, Denver
Diameter: 38.1 mm
Thickness: 2.4mm
Design: Liberty
Designer: George T. Morgan
Design date: 1878
Design: Eagle clasping arrows and olive branch
Edge: Reeded
Mass: 26.73 g (4121⁄2 gr)
Composition: 90.0% Silver 10.0% Copper (1878–1904, 1921)
Information Source: Wikipedia
1921 Morgan Silver Dollar
The 1921 Morgan Silver Dollar marked the last year of production and was minted in significant quantities to fulfill the requirements of the Pittman Act. Its mintage is higher than earlier years, and its value depends on its condition, rarity, and demand among collectors.
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2021 Morgan Silver Dollar
In celebration of the coin’s 100th anniversary, the United States Mint produced a limited edition 2021 Morgan Silver Dollar. These special anniversary coins pay homage to the coin’s original design and hold historical significance. Their value is influenced by their limited mintage, condition, and demand among collectors.
Historical Significance of the Morgan Silver Dollar:
The Morgan Silver Dollar was authorized by the Bland-Allison Act of 1878 to help support the silver mining industry in the U.S. The coin was named after its designer, George T. Morgan, and was one of the most widely circulated coins in the country during its first run. The coin was also involved in the Gold Standard Act of 1900, which established the gold standard as the official monetary policy of the U.S.
Controversies And Scandals Of The Morgan Silver Dollar:
One of the most well-known controversies involving the Morgan Silver Dollar is the alleged corruption in the minting process. It is claimed that some mint workers would steal silver from the mint, melt it down into bars, and then sell it to metal dealers. Another controversy was the coin’s design, which some critics felt was unappealing or not representative of American values.
Collecting And Investing In The Morgan Silver Dollar:
Morgan Silver Dollars are popular among both collectors and investors because of their historical significance and rarity. Factors that can affect the value of these coins include their condition, year of mintage, and rarity. Collectors and investors alike should do their research and work with reputable dealers when purchasing Morgan Silver Dollars. 3 weeks ago we wrote a detailed guide on Jefferson 1943 S Nickel Value, Worth, Error.
Morgan Silver Dollar Sets:
Morgan Silver Dollar sets can be organized based on any number of factors, including mint mark, year of mintage, and condition. Some collectors enjoy building sets that represent a certain time period or historical event. These sets can range in size from just a few coins to a comprehensive collection that includes every Morgan Silver Dollar ever minted.
Preservation and Care:
Proper preservation and care are crucial for maintaining the value of Morgan Silver Dollars. These coins should be stored in a cool, dry place to prevent deterioration and should be handled with gloves to prevent oils from the skin from damaging the surfaces. Collectors should also avoid cleaning these coins and, if necessary, seek the advice of a professional before attempting any cleaning.
Morgan Silver Dollar Authentication And Grading:
Authenticity is key when investing in Morgan Silver Dollars, as there are many reproductions and counterfeits on the market. Collectors should work with certified dealers who can authenticate these coins using a variety of methods, including weight, composition, and visual inspection. Grading is also important, as factors such as wear and surface condition can greatly affect the value of these coins.
Morgan Silver Dollar Replicas and Counterfeits:
Because of their value, Morgan Silver Dollars are often the target of counterfeiters. Replicas and counterfeits can be difficult to spot, as they can be made to look very similar to authentic coins. Collectors and investors should be wary of deals that seem too good to be true and should work with certified dealers who can authenticate these coins using a variety of methods.
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Frequently Asked Question
How many silver Morgan Dollars are in a pound?
There are approximately 14.5833 silver Morgan Dollars in a pound, as each coin weighs around 26.73 grams.
How much is a Morgan Silver Dollar worth today?
The value of a Morgan Silver Dollar varies based on factors such as its condition, rarity, and demand. It is recommended to consult reputable coin dealers or online price guides for current market values.
How many silver dollars are in a bag?
typical bag of Morgan Silver Dollars contains 1,000 coins, resulting in a face value of $1,000.
How many total Morgan silver dollars are there?
The total number of Morgan Silver Dollars minted throughout their production years is approximately 657 million coins.
Are Morgan silver dollars 100% silver?
Yes, Morgan Silver Dollars are made of 90% silver and 10% copper, resulting in a coin that contains 0.77344 troy ounces of silver.
Which Morgan Dollar is worth money?
Several Morgan Dollars are considered valuable, including rare dates like the 1893-S and key varieties such as the 1895 Proof.
Are Morgan dollars a good investment?
Morgan Silver Dollars can be a good investment option for those interested in rare coins and silver bullion. The value of these coins may appreciate over time due to their historical significance and collector demand.
Are Morgan silver dollars real currency?
While Morgan Silver Dollars are no longer legal tender, they were once widely used as circulating currency in the United States.
What is the most expensive US silver dollar?
The most expensive US silver dollar is the 1804 Draped Bust Dollar, often referred to as “The King of American Coins.” This coin holds the record for the highest price ever paid for a single coin at auction.
What is the best silver dollar to buy?
The best silver dollar to buy depends on individual preferences and collecting goals. Key date and rare variety coins often have higher potential for value appreciation.
What is the King of Morgan silver dollars?
Within the Morgan Silver Dollar series, the 1893-S is often referred to as the “King of Morgan Silver Dollars” due to its rarity and value.
What are the 10 rarest Morgan silver dollars?
The 10 rarest Morgan Silver Dollars include the 1893-S, 1895 Proof, 1889-CC, 1878-CC, 1884-S, 1886-O, 1882-O/S, 1883-O, 1884-CC, and 1892-S.
Morgan Silver Dollars Value, Price Chart | |||||
DATE | Good | Fine | EXTREMELY FINE | UNCIRCULATED | |
1878 Morgan Dollar (8 Feathers) | N/A | N/A | $80 | $105 | |
1878 Morgan Dollar (7 Feathers) | N/A | N/A | $55 | $75 | |
1878 Morgan Dollar (CC) | N/A | N/A | $40 | $70 | |
1878 Morgan Dollar (S) | N/A | N/A | $47 | $48 | |
1879 Morgan Dollar | N/A | N/A | $39 | $40 | |
1879 Morgan Dollar (CC) | N/A | N/A | $770 | $1,700 | |
1879 Morgan Dollar (O) | N/A | N/A | $42 | $47 | |
1879 Morgan Dollar (S) | N/A | N/A | $45 | $70 | |
1880 Morgan Dollar | N/A | N/A | $39 | $41 | |
1880 Morgan Dollar (CC) | N/A | N/A | $285 | $350 | |
1880 Morgan Dollar (0) | N/A | N/A | $39 | $43 | |
1880 Morgan Dollar (S) | N/A | N/A | $40 | $46 | |
1881 Morgan Dollar | N/A | N/A | $39 | $42 | |
1881 Morgan Dollar (CC) | N/A | N/A | $425 | $440 | |
1881 Morgan Dollar (O) | N/A | N/A | $39 | $41 | |
1881 Morgan Dollar (S) | N/A | N/A | $39 | $41 | |
1882 Morgan Dollar | N/A | N/A | $39 | $41 | |
1882 Morgan Dollar (CC) | N/A | N/A | $120 | $145 | |
1882 Morgan Dollar (0) | N/A | N/A | $39 | $42 | |
1883 Morgan Dollar (S) | N/A | N/A | $53 | $140 | |
1884 Morgan Dollar | N/A | N/A | $39 | $41 | |
1884 Morgan Dollar (CC) | N/A | N/A | $150 | $160 | |
1884 Morgan Dollar (0) | N/A | N/A | $39 | $41 | |
1884 Morgan Dollar (S) | N/A | N/A | $60 | $290 | |
1885 Morgan Dollar | N/A | N/A | $39 | $41 | |
1885 Morgan Dollar (CC) | N/A | N/A | $570 | $590 | |
1885 Morgan Dollar (0) | N/A | N/A | $39 | $41 | |
1885 Morgan Dollar (S) | N/A | N/A | $63 | $110 | |
1886 Morgan Dollar | N/A | N/A | $39 | $41 | |
1886 Morgan Dollar (O) | N/A | N/A | $45 | $75 | |
1886 Morgan Dollar (S) | N/A | N/A | $105 | $150 | |
1887 Morgan Dollar | N/A | N/A | $39 | $41 | |
1887 Morgan Dollar (0) | N/A | N/A | $42 | $55 | |
1887 Morgan Dollar (S) | N/A | N/A | $45 | $50 | |
1888 Morgan Dollar | N/A | N/A | $39 | $41 | |
1888 Morgan Dollar (0) | N/A | N/A | $39 | $41 | |
1888 Morgan Dollar (S) | N/A | N/A | $185 | $205 | |
1889 Morgan Dollar | N/A | N/A | $39 | $41 | |
1889 Morgan Dollar (CC) | N/A | N/A | $3,000 | $7,000 | |
1889 Morgan Dollar (0) | N/A | N/A | $39 | $55 | |
1889 Morgan Dollar (S) | N/A | N/A | $75 | $105 | |
1890 Morgan Dollar | N/A | N/A | $39 | $43 | |
1890 Morgan Dollar (CC) | N/A | N/A | $140 | $190 | |
1890 Morgan Dollar (0) | N/A | N/A | $39 | $49 | |
1890 Morgan Dollar (S) | N/A | N/A | $39 | $45 | |
1891 Morgan Dollar | N/A | N/A | $40 | $45 | |
1891 Morgan Dollar (CC) | N/A | N/A | $140 | $190 | |
1891 Morgan Dollar (0) | N/A | N/A | $40 | $55 | |
1891 Morgan Dollar (S) | N/A | N/A | $40 | $45 | |
1892 Morgan Dollar | N/A | N/A | $53 | $90 | |
1892 Morgan Dollar (CC) | N/A | N/A | $450 | $690 | |
1892 Morgan Dollar (Q) | N/A | N/A | $48 | $70 | |
1892 Morgan Dollar (S) | N/A | N/A | $300 | $1,650 | |
1893 Morgan Dollar | N/A | N/A | $275 | $400 |