Morgan Silver Dollars - A Staple For Silver Dollar Collectors

Morgan Silver Dollars - A Staple For Silver Dollar Collectors

First minted in 1874, the Morgan Silver Dollar was produced for 30 years, ending manufacturing in 1904. After nearly 20 years of not being produced, the US Mint did a production run of 1921 Silver Dollars and thus the coins finally ceased manufacturing after 1921, by no means to be produced again. Oddly sufficient, and in contrast to many other silver dollar coins, the Morgan Silver Dollar was not named after a well-known politician or businessperson, but was named after the designer of the Morgan Silver Dollar.

Previous to the Morgan Silver Dollar was the Seated Liberty Silver Dollar and Silver trade coins which had been used primarily for commerce with the orient. Morgan Silver Dollars had been product of 0.77344 troy ounce of silver and have been produced across the similar time as a big silver strike in Nevada. Because the availability of silver was so giant, the US authorities resumed manufacturing for one year to supply the now well-known 1921 Morgan Silver Dollar.

One attention-grabbing story involves thoughts regarding the fate of the 1921 Silver Dollars. An outdated farmer by the identify of Lavere Redfield began to build up an enormous provide of them. He was a savvy investor and lived as though he had nothing. At the time of his death within the 1970's, he left an property valued at over one hundred million dollars. Amongst his property were a cache of Morgan's so large that no one had ever come throughout such a large hoard. Plainly over the years Redfield would go to a bank and buy bags of one thousand Morgan Silver Dollars at one time, driving them home in his previous pickup truck. At the time he was capable of buy the coins for less than $1 each. Upon his loss of life, a mountain of silver coins have been found in his basement, to the tune of four hundred bags. 400 bags of coins with every bag containing a thousand coins. Even at face value would have been $400,000, nevertheless the coins went to public sale and fetched over 7 million dollars!

Since their difficulty in the 1920's the Morgan coins have been an important part of many coin collections. Among the most respected of the Morgan Silver Dollars are the coins marked with "cc", which is an indication that these coins were made at the Carson Metropolis facility. In terms of high value, there are 3 years of Morgan's that stand out as being uncommon: the 1889-CC, the 1893-S and the 1895 Morgan Silver Dollars. Of all Morgan Silver Dollars, these are essentially the most sought after. Should you occur to be the owner of considered one of these coins, you may be pleasantly shocked with the worth of the coin.

The Morgan Dollar was minted in any respect 3 mints in 1921 to the tune of round 86 million coins. On the similar time the brand new Peace Dollar was being designed by Anthony DeFrancisci, a noted designer of medals. His design was decidedly different from previous designs in a few notable ways. First, his depiction of LIBERTY confronted left as an alternative of right as she did within the Morgan Dollar & Barber coins of the era, & she wears a crown of rays round her head. His Eagle is at relaxation with wings folded on the reverse, quite than in flight as or with wings spread as in earlier coin designs. The Eagle stands on a mound with the phrase PEACE on it, with rays extending out from the mound. The most distinct difference was the aid of the coin. Being a designer of medals DeFrancisci used the high relief design that a medal would bear, one thing not but tried on a US coin design.

Once the Peace design was ready, mintage of Morgans was suspended & 1,006,473 1921 Peace Dollars have been struck on the Philadelphia mint. This was the only yr that the coin was not minted at least 1 of the opposite 2 department mints, making the this 1921 silver dollar the one design not to bear a mint mark. In subsequent years the mint mark would appear on the reverse underneath the Eagle's tail feathers. The coins had been very detailed because of the high aid, however this also made them tough stack & the design was modified to low aid in 1922 & from then on the coins had a normal low relief.
The combination of its low mintage, unique high aid design, & first 12 months of release makes the 1921 Peace Dollar a really collectible & very desirable coin. The design was halted after solely seven years in 1928 due to the requirements of the Pittman Act being met. It made a brief reappearance in 1934 & 1935 before being once once more discontinued. It was the final true Silver Dollar design in the United States, with the Eisenhower & Susan B. Anthony Dollars being clad with no silver content.

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