Prices start at $95 for a coin in very good, circulated condition (VG-8) and go up to $6,000 for a coin in mint condition that has never been circulated. Consult the latest NGC Census Data for Morgan Silver Dollar populations. [7] What came to be known as the BlandAllison Act required that the Treasury purchase between two and four million dollars' worth of silver per month, to be coined into silver dollars at the former gold/silver value ratio of 16:1, meaning that one ounce of gold would be valued the same as sixteen ounces of silver. 1884 S Morgan Silver Dollar - $250,000 5.) There is a single small M at the base of Liberty's neck as a tribute to the designer, George T. Morgan. 1893 O Morgan Silver Dollar - $180,000 6.) [37] In total, 100,000gold and 500,000silver commemorative coins were authorized. The composition of the Morgan Silver Dollar contains 90% pure silver and 10% copper. (Gold and silver are measured in troy ounces.) The figure of the eagle on the coins reverse side was double stamped, and the beak, feathers and arrows all appear slightly duplicated. 1878-S "Funky Feather" Morgan dollar. 246, 248), the obverse features a profile of Lady Liberty, and the reverse features a heraldic eagle. The production of silver dollars would cease completely in 1904 since the government already held millions in storage which were not needed for circulation. All rights reserved. Bookmark this page (Ctrl+D) and come back to get the current melt value for this coin. Morgan Silver Dollar Key Dates- learn about key, semi-key, and better dates. Prices for an 1894-O Morgan dollar start at as low as $50 but can go for up to $40,000. So which ones are worth the most valuable collectibles? These varieties are commonly known as VAMs. It's updated every 15 minutes. Image source: VAMWorld. The Morgan Dollar Obverse Design bears a beautiful close-up profile of Lady Liberty facing left, wearing a Phrygian crown that symbolizes freedom, encircled with a ribbon inscribed with LIBERTY. The Louisiana facility made 4.9 million Morgan coins that year. The Coinage Act of 1873 would discontinue the silver dollar and authorize the Trade Dollar, which carried different specifications and was intended primarily for export trade with Asia. The Mint will produce the 2021 Morgan Dollar with an uncirculated finish in five versions to recognize the Mint facilities that minted the original coin. ADD TO CART *Prices will automatically update every minute Silver Price: $25.79 0.04 Fast Delivery Discreet Packaging His design of Lady Liberty was modeled after Anna Willess Williams. This iconic silver dollar represented the country's westward expansion and industrial development in the late 19th century. Although Morgan silver dollars are still legal tender in the U.S., they are worth far more than just $1 to coin collectors. "[11] Linderman evidently preferred the designs of Morgan over those of the Chief Engraver; he wrote Pollock on February 21, 1878, "I have now to state for your information, that it is my intention, in the event of the silver bill now pending in Congress, becoming law, to request the approval by the Secretary of the Treasury, of the dies prepared by Mr. For the NASCAR team formerly known as Morgan-Dollar Motorsports, see. Morgan Silver Dollar Paperweights "1880 & 1904" . Several different branches of the U.S. Mint struck Morgan dollars. 1901 Morgan Silver Dollar - $425,500 3.) The Morgan Dollar is minted in 90% silver and 10% copper. Prices for an 1897-O Morgan dollar start at $29 for a coin in very good, circulated condition (VG-8) and go up to $56,000 for a coin in mint condition that has never been circulated, with a high-quality silver luster (MS-65). No silver dollar coins were struck by the Mint and issued into circulation after 1935. [8], Morgan arrived in Philadelphia on October 9, 1876. model name / number: Morgan Silver Dollar. Although the silver dollar had been regarded as the cornerstone of the American monetary system, during its early history the denomination experienced sporadic circulation and long interruptions in production. Specifically, the Act required the United States government to purchase between 2 and 4 million ounces of silver each month to be minted into silver dollars. That year also saw the introduction of the Peace dollar. Morgan silver dollars range in price from as low as $20 to as high as tens of thousands of dollars. Upon his arrival at the U.S. Mint in Pennsylvania, Morgan was assigned the task of designing the Silver Dollar and working on patterns for the Half Dollar. The 1893-CC Morgan dollar coin was made at the Carson City Mint. From the onset of the series, the requirements of the Bland-Allison Act led to heavy silver dollar production, well in excess of the needs for commerce. The 1886-O Morgan dollar coin was made at the New Orleans Mint, which made 10.7 million Morgan coins that year. From 1879 until 1885 the United States Mint only made Proof coins specifically for coin collectors. Morgan Dollars are large and heavy coins that are made out of silver which is relatively soft and malleable. (Gold and silver are measured in troy ounces.). Prices start at $100 for a coin in very good, circulated condition (VG-8) and go up to $9,800 for a coin in mint condition that has never been circulated. If you have any questions about Morgan Silver Dollars, please don't hesitate to ask. In 2006, Morgan's reverse design was used on a silver dollar issued to commemorate the old San Francisco Mint building. [10] Morgan's friend, artist Thomas Eakins, suggested he use Anna Willess Williams of Philadelphia as a model. The next year, New Orleans joined in, and, like San Francisco and Philadelphia, would manufacture Morgan Dollars through 1904. Each branch corresponds to a mintmark. [35] Legislation was passed on December 31, 1970 directing the Treasury to transfer the silver dollars to the Administrator of General Services who was given the responsibility for marketing and selling the coins. Some of them have earned fascinating nicknames. Today, prices start at $40 for a coin in very good, circulated condition (VG-8) and go up to $5,750 for a coin in mint condition that has never been circulated, with a high-quality silver luster (MS-65). Our price of $39.00 each is guaranteed $50-$65 lower than several leading national retailers. [33] The demand to exchange silver certificates for silver dollars was so great that lines formed outside of the Treasury Building in Washington, D.C. The Morgan Dollar was designed by Mint Chief Engraver George T. Morgan (1845-1925) and was minted from 1878 to 1904, and again in 1921. Prices for these special Morgan dollars start at $17,000 for a coin in very good condition (VG-8) and go up to $80,000 for one in mint, uncirculated condition (MS-65). Prices start at $50 for a coin in very good, circulated condition (VG-8) and go up to $6,040 if it hasn't been circulated. Dollars. We offer reliable real coin melt conversions and hand written stats on each and every coin in our database. In response to economic conditions and pressure from the silver mining industry, the Bland-Allison Act was passed in 1878 to restore the standard silver dollar. The coin has since been dubbed the "Morgan" dollar as an homage to the coin's celebrated designer, George T. Morgan. Prices for an 1896-O Morgan Dollar start as low as $34 for a coin in very good, circulated condition (VG-8) and go up to $69,000 for a coin in mint condition that has never been circulated, with a high-quality silver luster (MS-65). They recommended a mail bid sale. [28] During the same year, the Peace dollar was first issued to commemorate the end of World War I. [13] This piece was given to President Hayes; the second and third were given to Secretary of the Treasury John Sherman and Mint Director Henry Linderman. The mint mark, if present, appears on the reverse above between D and O in "Dollar". In fact, Silver Dollars circulated widely only in the sparsely-populated West, but in the rest of the country they were stockpiled in banks and U.S. Treasury Department vaults. "[36] Congress supplied the General Services Administration with $10 million to market the dollar coins. This was also one of the most exciting and turbulent periods in United States history, and Morgan was witness to dramatic changes taking place all around him - from the winning of the West to World War I, and from the Wright Brothers' flight to Babe Ruth taking the baseball world by storm. Capturing the hearts of collectors around the world with their beautiful and storied designs, these coins were minted again in 2021 and sold . The coin was from a bag of silver dollars in the vault of the Philadelphia Mint. You won't find a "P" anywhere on the coin. [4] Trade dollars initially held legal tender status, but it was revoked in 1876 to prevent bullion producers from making a profit by coining silver into trade dollars when the value of the metal was low. Ironically enough, the same act that gave birth to the nations newest dollar coin also authorized the sale of one of its predecessors2.8 million Morgan Dollars (minted at the Carson City Mint) stored in U.S. Treasury Department vaults. The coins were issued from 1878 to 1904 and for one additional year in 1921, with production taking place across four different mint facilities. The most desired coins in sets are known as Key Dates. Key Date Morgan Dollars are usually the hardest to find in the series and often carry value beyond their simple silver content. The dollars were produced every year between 1878 and 1904 at a total of four different mints. It represented the countrys westward expansion and industrial development in the late 19th century. Morgan Dollars contain three-quarters of an ounce of 90% silver, mined from Nevada's legendary Comstock Lode. Production of this coin continued thorough 1904, when it was replaced by the Peace Dollar, but popularity was so high, the Morgan design was produced again for one year in 1921 . The 2021 Morgan Dollar is part of the Morgan and Peace Dollar Anniversary Coin Program. These are important dates in time and or mint locations that have created what are considered to be more desirable coins that collectors are willing to pay a premium for. It was struck again in 1977 and1978, but this time only with the copper-nickel clad version. William B. Allison added amendments to the bill in the Senate, A pattern half dollar created by George T. Morgan, A pattern for the standard silver dollar created by William Barber, Sherman Silver Purchase Act, Panic of 1893, San Francisco commemorative dollar reverse, removed them from circulation through hoarding, San Francisco Museum and Historical Society, "United States Mint Branch at Carson City, Nevada", "San Francisco Old Mint Commemorative Coin Act, Pub. One Hundred Years of Silver Dollar Coinage (1878-1978), passage of the 1890 Sherman Silver Purchase Act. Instead, the BlandAllison Act was passed, which required the Treasury to purchase between two and four million dollars' worth of silver at market value to be coined into dollars each month. Silver mining in the United States, mainly the Comstock Lode (1859), is the catalyst that gave silver dollar coinage its heyday. When he came to the United States in 1876, he was hired as the assistant engraver of William Barber and started working on a number of patterns for the half dollar. The 1888-O Morgan dollar coin was made at the New Orleans Mint. In late 1877, the Mint Director Henry Linderman instructed both Morgan and Barber to prepare dies for a silver dollar. [35] The coins were sorted and mounted in small plastic display cases. The Act had the additional impact of restarting the production of Morgan Dollar for a single year in 1921, when more than 80 million pieces were struck across three mint facilities. In 1878, dies that were originally made for the San Francisco Mint with the letter S were altered to the letter O for the New Orleans Mint. This Act was especially important in the history of the United States, because it established the U.S. Mint in Philadelphia and specified the Silver Dollar as the highest-denomination silver coin. On December 31, 1970, President Richard M. Nixon signed into law the Bank Holding Company Act Amendments of 1970. It marked the first $1 coin issued in the U.S. in five years (aside from the "Trade dollar"). "[12], Production of the coins did not commence until March11, more than a week after the passage of the BlandAllison Act. The "Hot Lips" VAM is the result of a mint error known as a doubled die. From 1878 to 1904, and again in 1921, 657 million Morgan Dollars were produced in 96 different date-and-mint combinations, over the 27 years of Morgan production. The reverse design features a bald eagle with its wings outstretched, framed within a small, open wreath. No special congressional authority was required for the modification in design, since the law permits changing the design of any U.S. coins after 25 years. AMS MAKES NO WARRANTIES, REPRESENTATIONS, OR PROMISES AS TO ITS PRODUCTS EXCEPT THOSE SET FORTH IN ITS TERMS AND CONDITIONS, AND NO IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS ARE MADE. [6] One such bill introduced into the House by Democratic Representative Richard P. Bland of Missouri was passed in the fall of 1876. Liberty wears a Phrygian cap with the word LIBERTY on her hair band and various agricultural elements intertwined, including stalks of wheat, bolls of cotton, and leaves of oak. In total, the number of coins that have survived to this day are small. The Carson City Mint started minting Morgan Dollars in 1878, but went on a 4-year hiatus in 1885 due to political reasons. [27] The Pittman Act authorized the U.S. to melt up to 350,000,000 silver dollars,[27] and this commenced immediately after the Act's passage. Top 10 Most Valuable Morgan Silver Dollars. The Mint made more than one million Peace Dollars in less than one month. Local coin sale only. [3], In 1876, Director of the Mint Henry Linderman began efforts to redesign the nation's silver coins. Approximately 300,000 1889-CC Silver Dollars were melted, ensuring 1889-CC survivors as one of the Key Dates in the Morgan Dollars series. In mid-1876, Morgan's career took an unexpected turn. Over the years, hundreds of millions of Morgan Dollars were melted. The collectible coin market is unregulated, highly speculative and involves risk. Morgan dollars, officially known as Liberty Head dollars, are among the most popular United States coins. [33], On May 12, 1969, the Joint Commission on Coinage held a meeting in order to determine the best way to sell the Carson City-minted dollars. Pursuant to the act, Morgan dollars resumed mintage for one year in 1921. Below are some general guidelines to help you determine the value of your Morgan dollar. We invite you to compare and check numismatic . [33][34] This incident triggered huge interest, and between November 1962 and March 1964, millions of Morgan and Peace dollars were sold to the general public. Beginning in the 1970s, the Treasury conducted a sale of silver dollars minted at the Carson City Mint through the General Services Administration. The "Top 100" Morgan Dollar varieties are a distillation of the thousands of die varieties discovered by the VAM authors (an acronym of the authors' names of Van Allen and Mallis) into the most important, rarest, and/or most readily discernible varieties. Proof coins were usually given as gifts to politicians or visiting dignitaries, and few survive today. Linderman held a competition for the design of a new silver dollar, which was won by English engraver, George Morgan. Prices start at $150 for a coin in very good, circulated condition (VG-8), and go up to $38,000 for a coin in mint condition. Thus the pure silver content was 371.25 gr = 24.056 g = 0.7735 oz t.[20], Mintage of the Morgan dollar remained relatively steady until the passage of the Sherman Silver Purchase Act on July 14, 1890. The "PL" designation also adds collectible appeal to any silver coin. The quality of the strikes vary from strong to weak, depending on the year and mint. Below the wreath is where the Mint marks are located. [10] Morgan also obtained studies from nature of the bald eagle for preparation of the reverse design. The coinage was short-lived, lasting only through 1935. It now only shows the 10 most valauble Morgans. So if there is no mintmark, you'll know your coin comes from Philadelphia. During the mid-1970s, the quarter, half dollar, and dollar coins underwent a design transformation for the nations upcoming bicentennial celebration. The obverse depicts a profile portrait representing Liberty, modeled by Anna Willess Williams, while the reverse depicts an eagle with wings outstretched. In 1971, the Mint produced Eisenhower copper-clad and silver-clad dollars. Hayes. It was also the first circulating silver dollar coin minted since 1935. Each Morgan dollar is struck from 90% silver. Many other less-famous dates had lower mintages, but many 1889-CC Silver Dollars had an early demise. About Morgan Silver Dollars Morgans are the most collected classic silver dollars in the world. Liberty Seated Dollar Values. At this time, the U.S. Mint struck no circulating Silver Dollars, but the Mint realized it was only a matter of time before a Silver Dollar would be called for once again. The 1903-S Morgan dollar coin was made at the San Francisco Mint, which made 1.24 million Morgan coins that year. Below the eagle and around its sides is a wreath of laurel to honor the nations achievements. Prices start at a mere $35 for a coin in very good, circulated condition but can fetch up to $125,000 for a coin in mint condition that has never been circulated, with a high-quality silver luster (MS-65). The goal is to complete, or nearly complete a set of Morgan Silver Dollars by date or mintmark. In 1921, the Mint redesigned the Morgan dollar. The 1904-S Morgan dollar coin was also made at the San Francisco Mint, which made 2.3 million Morgan coins that year. The 1921 Morgan dollar was the last coin in the series. [24] The act was repealed on November 1, 1893. The Morgan Dollar is frequently cited as the most popular series within all of American numismatics. The Nevada facility made 2.3 million coins that year. If your Morgan dollar is a special variety, it will likely command a higher price. Prices for a 1894 unmarked Morgan Dollar start at $1,200 for a coin in very good, circulated condition (VG-8) and go up to $45,250 for a coin in mint condition that has never been circulated, with a high-quality silver luster (MS-65). [33] The U.S. Treasury discovered previously unknown mint bags in its vaults containing slightly more than 2.8 million Carson City silver dollars. Actual market prices will vary slightly when you sell your coins. 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