This is why you should consult a numismatic expert to appraise the value of your coin when youre ready to sell. The figure of the eagle on the coins reverse side was double stamped, and the beak, feathers and arrows all appear slightly duplicated. [27] Of that amount, 259,121,554 were sold to the United Kingdom at the cost of one dollar per troy ounce.[27]. Born in 1845, Morgan attended the Birmingham Art School before winning a scholarship to the prestigious South Kensington Art School in London. They were designed by George T. Morgan, for whom the coin was colloquially renamed by numismatists and others involved with the coin hobby. The reverse design depicts an eagle perched on a mountain top, holding an olive branch in its talons, witnessing the dawn of a new day. The coin is named for its designer, George T. Morgan. Below are some general guidelines to help you determine the value of your Morgan dollar. Individuals began purchasing large quantities of the pieces at face value and then removed them from circulation through hoarding, and eventually the Treasury ceased exchanging silver certificates for silver coin. We offer reliable real coin melt conversions and hand written stats on each and every coin in our database. 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. SIGN UP FOR EMAIL UPDATES AND TEXT MESSAGE ALERTS ABOUT PRODUCTS. [9] In 1876, Morgan enrolled as a student at the Pennsylvania Academy of the Fine Arts to prepare to create a new Liberty head design. [4] Under the act, bullion producers were allowed to bring bullion to the mints in order to be cast into bars or coined into the newly authorized trade dollars for a small fee. In 1890, the BlandAllison Act was repealed by the Sherman Silver Purchase Act, which required the Treasury to purchase 4,500,000 troy ounces (140,000kg) of silver each month, but only required further silver dollar production for one year. L. no. [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. [10] For the representation of Liberty, Morgan sought to depict an American woman rather than the usual Greekstyle figures. Due to a bad die, the coins were struck twice with the mark, resulting in a doubled effect. That year, the Louisiana facility struck a run of coins with a double-die mark on the face of Lady Liberty. [29] Another provision of the Pittman Act authorized the U.S. to mint a replacement coin for every silver dollar melted. It was minted one last time prior to World War II, with the passage of what was referred to as the Silver Purchase Act of 1934. Morgan Dollars contain three-quarters of an ounce of 90% silver, mined from Nevada's legendary Comstock Lode. In 1876, Richard P. Bland introduced a bill in the House to resume coinage of the standard silver dollar. Title Two of this Act and its various amendments authorized the Eisenhower Dollar Coin. 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). None have ever been as popular as the iconic Morgan or Peace Dollars. They wanted to be ready when the time came. Consequently, this coin has the highest number of forgeries. Prices for an 1894-O Morgan dollar start at as low as $50 but can go for up to $40,000. It is highly sought after by collectors and investors alike. During the mid-1970s, the quarter, half dollar, and dollar coins underwent a design transformation for the nations upcoming bicentennial celebration. The coins were issued from 1878 to 1904 and for one additional year in 1921, with production taking place across four different mint facilities. This year marks the 100th anniversary of completion of coinage of the Morgan Dollar and the 100th anniversary of commencement of coinage of the Peace Dollar. Prices start at $47 for a coin in good, circulated condition (G-4) and go up to $30,724 for a coin in mint condition. Prices for these particular coins start at $195 for one in good, worn condition (G-4) and go up to $45,526 for a coin in mint condition that has never been circulated (MS-65). On September 22, 2020 the U.S. House of Representatives passed legislation to allow the minting of Morgan and Peace dollar coins in 2021, the 100-year anniversary of the transition from the Morgan to Peace dollar in order to "commemorate this significant evolution of American Freedom". 1896 O Morgan Silver Dollar - $140,000 Depending on the date and mintmark, prices for a coin can range from about $30 to $10,000 or more. Over the years, hundreds of millions of Morgan Dollars were melted. The Nevada facility made 756,000 Morgans that year, including ones with both clear and double-stamped CC marks. The original design was for that of a half dollar. The 1892-O Morgan dollar coin was made at the New Orleans Mint, which used the O letter mark. Calculate 10% copper value : The 1881-S is the most available Morgan dollar in mint state from the years 1878 to 1904. This iconic silver dollar represented the country's westward expansion and industrial development in the late 19th century. Some of them have earned fascinating nicknames. It contained 412.5 grains of 90% pure silver (or 371.25 gr = 24.056 g = 0.7735 oz t of pure silver). Since the Pennsylvania facility only made 110,000 silver dollars in 1894, these coins are considered the second rarest of all Morgan dollars and are often forged from less valuable 1894 dollars. A list of linkable tags for topics mentioned on this page. By continuing to browse our site, you agree that you have read and understand our Privacy Policy. This causes parts of the design to appear doubled or overlapped. 1878 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. 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 Nevada facility made 756,000 of these double-stamped Morgans in 1879. The Morgan silver dollar remains one of the most popular collector coins of all time! [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. A portion of the wing exhibits a grainy appearance and is characterized by small raised dots. Local Storage seems to be disabled in your browser.For the best experience on our site, be sure to turn on Local Storage in your browser. It's updated every 15 minutes. The Pittman Act also required the government to purchase more silver to replace the melted coins, so the Morgan Silver Dollar was briefly revived one more time in 1921 until it was replaced later in the year with the Peace Silver Dollar. Dollars. Silver mining in the United States, mainly the Comstock Lode (1859), is the catalyst that gave silver dollar coinage its heyday. This series may be the most common of all 19th-century U.S. coins. You can view ourreturn policyhere. After World War I, the Pittman Act of 1918 authorized the melting of millions of previously minted silver dollars (primarily Morgan Dollars). The coin was designed by U.S. Mint Chief Engraver Frank Gasparro. Prices start at $200 for a coin in very good, circulated condition (VG-8) and go up to as high as $115,000. 1 2 3 4 5 [10] Morgan also obtained studies from nature of the bald eagle for preparation of the reverse design. The Bland-Allison Act was written by Representative Richard P. Bland with amendments made to it by Senator William B. Allison. The design of the Peace Dollar was selected by the Commission of Fine Arts (CFA) from models submitted by a number of prominent sculptors. Prices start at $34 for a coin in very good, circulated condition (VG-8), but very lucky collectors can get as much as $149,500 for one in mint condition. In 1921 production was resumed for one year only, with this year being the only one where the Denver mint was used, until 2021. Other varieties of the 1878 coin feature different numbers of tail feathers on the eagle. Top 10 Most Valuable Morgan Silver Dollars. The landscape would change once again with the passage of the Pittman Act in 1918. The Royal Mint recommended Morgan - and after examining samples of Morgan's work, Linderman offered him the post of "Special Engraver" for $8 per day. Linderman, asking if he knew of someone who could fill the position of Assistant Engraver of the U.S. Mint. Below the wreath is where the Mint marks are located. During this time, the United States went through many changes as the "Age of Technology" became a reality. We use cookies to make your experience better. [37] In total, 100,000gold and 500,000silver commemorative coins were authorized. $20.1638 is the rounded silver value for the 1878-1921 silver Morgan dollar on April 13, 2023. So you can multiply that times the current price of silver to find out the absolute minimum your coin should be . Our guide will show you which coins are common and which coins are rare. It depends on their condition and the date they were minted, among other factors. 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. Popular Morgan Dollars If your Morgan dollar is a special variety, it will likely command a higher price. The store will not work correctly in the case when cookies are disabled. It was designed by Dennis R. Williams (a student at Columbus College of Art and Design) and featured a Liberty Bell and moon combination. Peace Dollars were available beginning later in the same year. That makes them less expensive than their counterparts from other mints. We invite you to compare and check numismatic . From 1879 until 1885 the United States Mint only made Proof coins specifically for coin collectors. Heralded as boasting the best of all the Silver Dollar designs, the Morgan was an immediate hit with US citizens when it was released back in 1878. [10], On October 18, 1877, Linderman requested Superintendent of the Philadelphia Mint James Pollock to "instruct Mr. Morgan to prepare without delay, dies for a silver dollar, the designs, inscriptions, and arrangement thereof to be the same as the enclosed impression for the Half Dollar and numbered '2' substituting the words 'one dollar' in place of 'half dollar'". United States Mint All Rights Reserved. You will find the mintmark on the reverse of your Morgan near the bottom of the design. Silver $25.16 ( +0.09) as of 04-12 08:03 AM EST. On December 31, 1970, President Richard M. Nixon signed into law the Bank Holding Company Act Amendments of 1970. Since the New Orleans Mint relied on silver coin production for business, this ultimately led to its shutdown as a Mint facility. Encircling the coin above is UNITED STATES OF AMERICA with the denomination, ONE DOLLAR, with stars on either side. Since this coin's inception it has become one of the most popular silver dollars in America. These varieties are commonly known as VAMs. Coins. "[8] An agreement was reached between Linderman and Morgan for the engraver to work at the Philadelphia Mint under Chief Engraver William Barber on a six-month trial basis. 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. In honor of the 100th anniversary of the last year of the. [24] On June 13, 1898, Congress ordered the coining of all the remaining bullion purchased under the Sherman Silver Purchase Act into silver dollars. All purchases are expressly conditioned upon your acceptance of our Terms and Conditions; to decline, return your purchase pursuant to our Return Policy. The Hot Lips variety is not especially rare but it is highly collectible. Each coin shipped in October 2021. [34] Treasury officials decided to hold them back because the total number of coins minted at the Carson City mint were generally lower than others. By continuing to browse our site, you agree that you have read and understand our Privacy Policy. In order to mint the coin on the Dollar the die needed to be larger and the words half dollar were replaced with "one dollar". Prices start at $350 for a coin in very good, circulated condition (VG-8) and go up to $25,300 for a coin in mint condition that has never been circulated, with a high-quality silver luster (MS-65). The Nevada facility made 677,000 coins that year. Image source: VAMWorld. Today only about 17% of original Morgan mintages are estimated to survive. Morgan Silver Dollars were issued from 1878-1904, and then again for a final year in 1921. [17] The New Orleans Mint began striking the new silver dollars in 1879. [35] Advertising consisted of posters and brochures distributed to post offices, banks and various financial institutions, as well as television documentaries. Morgan Dollar (1878-1921) Auction Prices Population CoinFacts Photograde Set Registry. In this case, the effect is most obvious on Lady Liberty's lips. Here is a list of values for every Morgan dollar minted from 1878 through 1904, as well as 1921. 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