What is a Morgan Silver Dollar? The Morgan Silver Dollar is a classic American coin that has been cherished by collectors and numismatists for over a century. Minted from 1878 to 1904, and again in 1921, this coin holds significant historical and numismatic value. Its unique design, rich history, and scarcity have made it a favorite among coin enthusiasts worldwide.
The Morgan Silver Dollar was named after its designer, George T. Morgan, who created the coin’s iconic image of Lady Liberty in a seated pose, holding an olive branch and a shield. The reverse side of the coin features an eagle with wings spread, clutching arrows and an olive branch, symbolizing peace and strength. The coin’s obverse also includes the word “LIBERTY” and the date of minting, while the reverse displays “UNITED STATES OF AMERICA” and the denomination “ONE DOLLAR.”
The Morgan Silver Dollar was initially minted to help alleviate the silver crisis of the late 19th century. At that time, the U.S. government had a surplus of silver, and the coinage act of 1878 authorized the minting of silver dollars to circulate as currency. The coin’s composition was 90% silver and 10% copper, which made it a valuable piece of metal as well as a legal tender.
The Morgan Silver Dollar has a rich history that reflects the economic and political climate of the time. During its production, the coin was minted in various cities across the United States, including Philadelphia, San Francisco, Carson City, and New Orleans. The coin’s design was modified slightly in 1904 to reflect the change in the eagle’s feather arrangement, and the coin was minted again in 1921 before being discontinued.
Today, the Morgan Silver Dollar is a highly sought-after coin by collectors. Its scarcity, especially in high-grade condition, makes it a valuable investment. Many collectors prefer the coins minted in the early years, such as those from the Carson City mint, as they are rarer and often command higher prices.
The coin’s historical significance, beautiful design, and investment potential have solidified the Morgan Silver Dollar’s place as a cherished piece of American numismatic history. Whether you are a seasoned collector or a beginner in the world of coins, the Morgan Silver Dollar is a fascinating and rewarding addition to any collection.
