The Silver Morgan Dollar is a United States dollar coin that was minted from 1878 to 1904 and again in 1921. It consists of 90% silver and 10% copper, giving it a total weight of 26.73 grams. The Silver Morgan Dollar entered the market as a result of the Bland-Allison Act of 1878. It required the US government to purchase large quantities of silver and use it to mint new silver coins.
US Mint Assistant Engraver George T. Morgan created the design of the Silver Morgan Dollar. It featured Lady Liberty on the obverse and an eagle with outstretched wings on the reverse. These dollars quickly became popular and were widely popular in commerce throughout the late 19th and early 20th centuries. However, the production of the coin was suspended in 1904 due to a surplus of silver in the US Treasury. Subsequently, the US Treasury reintroduced these coins in 1921 for one final year of production. Later, the Peace Dollar replaced them.
Today, this coin is a popular collector’s item and investment option for those interested in numismatics or silver bullion. The coin’s historical significance, iconic design, and silver content make it a sought-after addition to many coin collections.
Characteristics of Silver Morgan Dollar:
The Silver Morgan Dollar is made of 90% silver and 10% copper. This gives it a total weight of 26.73 grams (0.77344 troy ounces) and a silver content of 0.77344 troy ounces. Moreover, the coin has a diameter of 38.1mm and a thickness of 2.4mm.
The obverse of the coin features a left-facing profile of Lady Liberty wearing a Phrygian cap with the word “LIBERTY” inscribed on a ribbon in her hair. The date of issue is present below Liberty’s neck, while the phrase “E PLURIBUS UNUM” is inscribed above her head.
The reverse of the coin features an eagle with outstretched wings, holding an olive branch and arrows in its talons. Also, a wreath surrounds the eagle while the inscriptions “UNITED STATES OF AMERICA” and “ONE DOLLAR” are located above and below the eagle, respectively.
Minting and Production of the Silver Morgan Dollar:
The Silver Morgan Dollar was minted at several locations throughout the United States, including Philadelphia, San Francisco, New Orleans, Carson City, and Denver Mints. Production of the coin began in 1878 and continued until 1904, when it was suspended due to a surplus of silver in the US Treasury. It was briefly reintroduced in 1921 before being replaced by the Peace Dollar. The total mintage of Silver Morgan Dollars is estimated to be over 657 million.
Value of The Silver Morgan Dollar:
Factors that affect the value of the coin are given below:
- Silver content: As with all silver coins, the value of the Silver Morgan Dollar is largely determined by the current market price of silver.
- Rarity: Some years and mint marks of the Silver Morgan Dollar are rarer than others. These coins can be worth significantly more than their silver content alone.
- Condition: The condition of the coin can also have a significant impact on its value. Coins that are well-preserved and have little wear or damage are typically worth more than those that are heavily worn or damaged.
- Historical significance: Coins that have a significant historical association or provenance can also be worth more than their silver content alone.
The Historical and Numismatic Value of Silver Morgan Dollar:
The Silver Morgan Dollar has significant historical and numismatic value. That’s due in part to its association with the Old West and the early days of the American silver industry. Many collectors are drawn to the coin’s iconic design and historical significance. Hence, it is a sought-after addition to many coin collections.
Comparison of Silver Morgan Dollar to Other Silver Coins and Bullion:
When compared to other silver coins and bullion, the Silver Morgan Dollar offers a unique combination of historical significance, iconic design, and silver content. While other silver coins may have a higher silver content or be more affordable to purchase. The Silver Morgan Dollar’s historical and numismatic value can make it worth more to collectors. As with any investment, it is important to carefully consider one’s investment goals and overall investment strategy before investing in Silver Morgan Dollars or any other form of silver bullion or coins.
Specifications of the Silver Morgan Dollar:
These are the following specifications of RCM Silver Bars:
|Thickness||38.1 mm (1.5 inch)|
|Purity||9o% Silver and 10% Copper Content|
How to buy and sell Silver Morgan Dollar?
Silver Morgan Dollars can be purchased from a variety of sources, including coin dealers, online marketplaces, and auction sites. It is important to do your research and buy from a reputable dealer to ensure that you are getting a genuine coin at a fair price.
Silver Morgan Dollars can be sold to coin dealers, online marketplaces, and auction sites. It is important to shop around and compare prices to ensure that you are getting a fair price for your coin.
Factors to consider when buying and selling Silver Morgan Dollar:
When buying or selling Silver Morgan Dollars, it is important to consider several factors, including:
- Authenticity: It is important to ensure that the Silver Morgan Dollar you are buying or selling is authentic. This can be done by working with a reputable dealer or by having the coin authenticated by a third-party grading service.
- Condition: The condition of the coin can have a significant impact on its value. When buying or selling, be sure to carefully examine the coin for signs of wear or damage, and consider having it professionally graded.
- Rarity: As mentioned earlier, some years and mint marks of the Silver Morgan Dollar are rarer than others. These coins can be worth significantly more than their silver content alone.
- Market conditions: The price of silver and the demand for Silver Morgan Dollars can fluctuate based on market conditions. So it is important to stay up-to-date on the current market before buying or selling.
- Fees and commissions: When buying or selling through a dealer or auction site, be sure to consider any fees or commissions that may be charged, as these can impact the overall cost or profit of the transaction.
The Silver Morgan Dollar can be a unique and valuable addition to a coin collection, but it is important to carefully consider your investment goals and overall investment strategy before investing in this or any other form of silver bullion or coins.
While the coin’s historical significance and iconic design can make it attractive to collectors, its value is primarily based on the current market price of silver, which can be subject to fluctuations.
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