Neil S Berman - Expert Numismatist & Silver Coin Dealer
Silver Coins Trade through History
US Morgan Dollar
The Morgan Dollar was a United States silver dollar coin minted from 1878 to 1904, and then again in 1921. It was the first standard silver dollar minted since production of the previous design, the Seated Liberty Silver Dollar, which was made between 1840 and 1873. The coin is named for its designer, George T. Morgan, an Assistant Engraver at the United States Mint in Philadelphia. The obverse depicts a profile portrait representing Liberty, while the reverse depicts an American Bald eagle with wings outstretched. A total of 680 million silver dollars were made, of which nearly half were dated 1921.
The dollar was originally authorized by the Bland-Allison Act. Following the passage of the 1873 act, mining interests lobbied to restore free silver, which would require the Mint to accept all silver presented to it and return it, struck into coin. Instead, the Bland–Allison Act was passed, which required the Treasury to purchase between two and four million ounces of silver at market value to be coined into dollars each month. In 1890, the Bland–Allison Act was repealed by the Sherman Silver Purchasing Act, which required the Treasury to purchase 4,500,000 troy ounces (140,000 kg) of silver each month, but only required further silver dollar production for one year. This act, in turn, was repealed in 1893.
In 1898, Congress approved a bill that required all remaining bullion purchased under the Sherman Silver Purchase Act to be coined into silver dollars. When in 1904, those silver reserves were depleted, the Mint ceased to strike the Morgan dollar. The Pittman Act, passed in 1918, authorized the melting and recoining of millions of silver dollars. Pursuant to the act, Morgan dollars resumed mintage for one year in 1921. The design was replaced by the Peace Dollar later the same year. The Morgan Dollar was never popular with the public except in the West when they were made, and did not become desirable until after silver rose above five dollars around 1987. We buy and sell all common date Morgan Dollars as silver bullion related coins and trade in rare date Morgan Dollars as well.