Morgan Silver Dollar History from Minting to Modern Times

The Morgan Silver Dollar has a rich history that spans over a century, and its story begins in the late 19th century with the passage of the Bland-Allison Act in 1878, which authorized the government to mint silver dollars.

This act led to the creation of the Morgan Silver Dollar, designed by George T. Morgan, a British engraver who worked for the Philadelphia Mint. The Morgan Silver Dollar was first minted in 1878 and continued to be produced until 1904, with a brief revival in 1921.

The Morgan Silver Dollar was made from 90% silver and 10% copper, giving it a distinctive appearance and durability. Its design features a portrait of Lady Liberty on the obverse side and a depiction of an eagle on the reverse side.

The Morgan Silver Dollar was widely used as a form of currency during its production run and is still highly prized by collectors today for its beauty and historical significance.

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The Morgan dollar has a rich history that dates back to the late 19th century. The Coinage Act of 1873 ended the production of silver dollars, two-cent pieces, three-cent silvers, and half dimes, shifting the country toward a gold standard.

A large silver rush took place in 1859 with the discovery of the Comstock Lode in Nevada, which led to an oversupply of silver and devalued its price. This led to the Coinage Act of 1873.

Silver political forces in Congress, led by Missouri Democratic Representative Richard Bland, fought to promote bimetallism and helped pass the Bland-Allison Act of 1878. The Act required the U.S. Treasury to purchase silver and put it back into circulation as coins.

The Treasury began making plans for a new silver dollar in 1877, commissioning talented British engraver George Morgan to create its new design. Morgan accepted the challenge and the new silver dollar was named after him.

The Morgan Silver Dollar was the first U.S. dollar coin minted after the government ended free coining of silver with the Coinage Act of 1873.

The first acceptable strike of the Morgan silver dollar was coined at 3:17 p.m. on March 11, 1878, at the Philadelphia Mint. This piece was given to President Hayes.

The production of the coins was a complex process, with the Philadelphia Mint operating overtime to meet the monthly quota required by the Bland-Allison Act. Pressure was so great that the mint halted production of all other coins.

The dies used to strike the coins were prepared at the Philadelphia Mint, and it was believed that the Western mints did not have the proper equipment to prepare them.

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The design of the Morgan dollar is truly a masterpiece. It features a left-facing portrait of Lady Liberty, modeled after a young Philadelphia teacher named Anna Willess Williams.

The obverse of the coin showcases Lady Liberty with flowing hair, wearing a cap along with a ribbon inscribed with the word “LIBERTY.” Her hair is also adorned with two cotton blossoms and two sheaves of wheat, signifying the importance of the country’s agriculture industry.

Thirteen stars encircle the bottom half of the obverse, representing the original 13 colonies of the United States. The Latin phrase, E. PLURIBUS UNUM, is written across the top, which means “out of many, one.”

Morgan added his initial “M” at the base of Liberty’s neck, a unique touch that sets the coin apart.

Production of the new silver dollar coins began on March 11, more than a week after the passage of the Bland–Allison Act.

The first acceptable strike was coined at 3:17 p.m. at the Philadelphia Mint, and it was given to President Hayes. The second and third coins were given to Secretary of the Treasury John Sherman and Mint Director Henry Linderman.

The Philadelphia Mint had to operate overtime due to high demand, and it even halted production of all other coins to meet the monthly quota required by the Bland–Allison Act.

The western mints of San Francisco and Carson City were initially delayed in their production due to a lack of proper equipment to prepare the dies for use.

Dies were eventually sent to the Western mints, arriving in both San Francisco and Carson City on April 16, 1878.

The Morgan silver dollar was minted from 1878 to 1904, and then again in 1921 for one final year. The production of the coins began on March 11, 1878, at the Philadelphia Mint, with the first acceptable strike being coined at 3:17 p.m.

The first three coins were given to President Hayes, Secretary of the Treasury John Sherman, and Mint Director Henry Linderman. Linderman wanted to involve the western mints of San Francisco and Carson City in production to meet the monthly quota required under the Bland-Allison Act.

The Philadelphia Mint operated overtime to meet the demand, but the use of the western mints was delayed due to a lack of proper equipment. The dies for the dollar were eventually sent to the Western mints on April 16, 1878.

Here's a breakdown of the mintage figures for each year:

The Carson City Mint Morgan dollars are a unique and fascinating part of the Morgan dollar series. They were minted in lower quantities compared to other mints, making them highly sought after by collectors.

One of the most interesting aspects of Carson City Mint Morgan dollars is that they were discovered in a vault at the Philadelphia Mint in 1962. This incident triggered a surge in demand for these coins, with millions being sold to the public between 1962 and 1964.

The U.S. Treasury held back a stash of 2.8 million Carson City silver dollars, which were eventually sold through a mail bid sale between 1972 and 1980. This sale generated $107 million in revenue, with the proceeds going into the Treasury as miscellaneous receipts.

The Carson City Mint is a fascinating piece of American history. Between November 1962 and March 1964, millions of Morgan and Peace dollars were sold to the general public, with some people even pushing wheelbarrows full of silver certificates to redeem them for silver dollars.

In 1962, a single individual redeemed a silver certificate and received a rare and valuable Morgan dollar from a bag of silver dollars in the Philadelphia Mint's vault. This incident triggered huge interest in the coins.

The U.S. Treasury discovered previously unknown mint bags in its vaults containing slightly more than 2.8 million Carson City silver dollars. They decided to hold them back because the total number of coins minted at the Carson City mint were generally lower than others.

The Carson City Mint dollars were eventually sold through a mail bid sale, with the General Services Administration conducting a total of seven sales between 1972 and 1980.

The 1893-S Morgan dollar is a key date in the Morgan dollar series, with a mintage of just 100,000 coins struck at the United States San Francisco Mint.

This low mintage made it a rare coin, and it's believed that few survived in mint state due to their circulation.

In 2021, an 1893-S Morgan dollar in mint state (MS-67) sold for a staggering $2,086,875.00.

The Pittman Act of 1918 had a significant impact on the Morgan dollar. The Act authorized the melting down of over 270 million Morgan dollars for silver bullion.

This massive melt-down was done to conserve the US government's gold supply and balance silver trade domestically. The melting of the Morgan dollars was a crucial step in helping US allies during World War I.

The Pittman Act required that the melted coins be replaced coin for coin, which is why the US Mint began producing Morgan dollars again in 1921. These coins were only minted for one last year, as they were quickly replaced with the Peace dollar.

The Pittman Act of 1918 was a significant piece of legislation that had a lasting impact on the Morgan dollar.

The Act was sponsored by Democratic Senator Key Pittman of Nevada, whose state was the leading source of silver.

To conserve its gold supply and balance silver trade domestically, the U.S. government authorized the melting down of over 270 million Morgan dollars for silver bullion.

The melting of these coins greatly reduced their availability, making the Morgan dollar a rare coin today.

The Act required that the coins that were melted down be replaced coin for coin, which is why the U.S. Mint began producing Morgan dollars again in 1921.

This final minting of the Morgan dollar was done as a last gesture to replace the coins that had been melted down during World War I.

Modern dollars are a type of currency that originated from the Pittman Act, which allowed the melting of silver coins to produce new dimes and half-dollars.

The Pittman Act of 1918 was a significant law that changed the way silver coins were used in the US economy. The law allowed the melting of silver coins to produce new dimes and half-dollars, which were then added to the country's currency supply.

The Pittman Act led to the creation of 270 million silver dimes and 45 million silver half-dollars. These new coins were minted from the melted silver coins and were added to the circulating currency.

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The new coins were made from 90% silver and 10% copper, giving them a distinctive appearance and value. The coins were also stamped with a "P" mint mark, indicating that they were produced at the Philadelphia Mint.

The introduction of modern dollars, including the silver dimes and half-dollars, marked a significant shift in the US currency system. It allowed for the creation of new coins that were more durable and long-lasting than their predecessors.