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 production in 1904. After almost 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, never to be produced again. Oddly enough, and unlike many other silver dollar coins, the Morgan Silver Dollar was not named after a well-known politician or businessperson, however was named after the designer of the Morgan Silver Dollar.

Prior to the Morgan Silver Dollar was the Seated Liberty Silver Dollar and Silver commerce coins which were used mainly for commerce with the orient. Morgan Silver Dollars have been product of 0.77344 troy ounce of silver and were produced across the identical time as a big silver strike in Nevada. Because the availability of silver was so massive, the US government resumed production for one 12 months to produce the now well-known 1921 Morgan Silver Dollar.

One fascinating story involves thoughts relating to the destiny of the 1921 Silver Dollars. An old farmer by the identify of Lavere Redfield started to build up an enormous supply of them. He was a savvy investor and lived as though he had nothing. At the time of his loss of life in the 1970's, he left an estate valued at over a hundred million dollars. Amongst his assets had been a cache of Morgan's so giant that nobody had ever come throughout such a big hoard. Evidently over time Redfield would visit a bank and buy luggage of 1000 Morgan Silver Dollars at one time, driving them home in his old pickup truck. At the time he was capable of buy the coins for under $1 each. Upon his demise, a mountain of silver coins have been present in his basement, to the tune of four hundred bags. 400 baggage of coins with every bag containing 1000 coins. Even at face value would have been $400,000, nevertheless the coins went to auction and fetched over 7 million dollars!

Since their situation in the 1920's the Morgan coins have been an essential a part of many coin collections. Among the most precious of the Morgan Silver Dollars are the coins marked with "cc", which is an indication that these coins were made on the Carson Metropolis facility. By way of high worth, there are 3 years of Morgan's that stand out as being rare: the 1889-CC, the 1893-S and the 1895 Morgan Silver Dollars. Of all Morgan Silver Dollars, these are probably the most sought after. Should you happen to be the proprietor of certainly one of these coins, you could be pleasantly shocked with the worth of the coin.

The Morgan Dollar was minted at all 3 mints in 1921 to the tune of round 86 million coins. On the same time the new Peace Dollar was being designed by Anthony DeFrancisci, a famous designer of medals. His design was decidedly different from previous designs in a few notable ways. First, his depiction of LIBERTY confronted left as a substitute 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 rest with wings folded on the reverse, quite than in flight as or with wings unfold as in earlier coin designs. The Eagle stands on a mound with the phrase PEACE on it, with rays extending out from the mound. Essentially the most distinct difference was the relief of the coin. Being a designer of medals DeFrancisci used the high aid design that a medal would bear, one thing not yet tried on a US coin design.

As soon as the Peace design was prepared, mintage of Morgans was suspended & 1,006,473 1921 Peace Dollars have been struck on the Philadelphia mint. This was the only year that the coin was not minted no less than 1 of the other 2 department mints, making the this 1921 silver dollar the only design to not bear a mint mark. In subsequent years the mint mark would seem on the reverse under the Eagle's tail feathers. The coins have been very detailed because of the high reduction, but this additionally made them tough stack & the design was changed to low relief in 1922 & from then on the coins had a standard low relief.
The mix of its low mintage, unique high aid design, & first 12 months of launch makes the 1921 Peace Dollar a very collectible & very fascinating coin. The design was halted after solely seven years in 1928 due to the requirements of the Pittman Act being met. It made a quick reappearance in 1934 & 1935 earlier than being once again discontinued. It was the final true Silver Dollar design within the United States, with the Eisenhower & Susan B. Anthony Dollars being clad with no silver content.

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