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). Browse our website GovMint.com or call 1-800-642-9160 to see how Morgan Silver Dollars can enhance your coin collection today. Problems became apparent when the price of silver dropped and many Trade Dollars were reimported to the United States. [33] The U.S. Treasury discovered previously unknown mint bags in its vaults containing slightly more than 2.8 million Carson City silver dollars. The "Top 100" Morgan Dollar varieties are a distillation of the thousands of die varieties discovered by the VAM authors (an acronym of the authors' names of Van Allen and Mallis) into the most important, rarest, and/or most readily discernible varieties. The coin has since been dubbed the "Morgan" dollar as an homage to the coin's celebrated designer, George T. Morgan. [24] The act was repealed on November 1, 1893. and new product arrivals. Coins. Her lips, nose and chin all show a doubling effect, which is why the coins nickname is Hot Lips. A mint, uncirculated version of the double-die Morgan dollar is worth $22,441. The 1886-O Morgan dollar coin was made at the New Orleans Mint, which made 10.7 million Morgan coins that year. AMS MAKES NO WARRANTIES, REPRESENTATIONS, OR PROMISES AS TO ITS PRODUCTS EXCEPT THOSE SET FORTH IN ITS TERMS AND CONDITIONS, AND NO IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS ARE MADE. Holding a Morgan in your hand takes you back to the Old West, reminiscent of Americas ingenuity and entrepreneurship. Today, the Morgan Silver Dollar is one of the most colorful and treasured relics of Americas western frontier, and an inspirational coin that collectors are drawn to because of their historical significance. These are the Bland-Allison Act and the Sherman Silver Purchase Act. The mint sourced its silver from the legendary Comstock Lode. "[8] In response to Linderman's request, Fremantle wrote "My inquiries as to an Assistant Engraver lead me very strongly to recommend for the post Mr. George Morgan, age 30, who has made himself a considerable name, but for whom there is not much opening at present in this country. Copyright 2023 My Coin Guides. There was very little demand for dollar coins, however. [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. The Carson City Mint started minting Morgan Dollars in 1878, but went on a 4-year hiatus in 1885 due to political reasons. Gasparros rendition of the Apollo 11 insignia, featured on the reverse of the coin, shows the bald eagle landing on the crater-pocked surface of the moon, an olive branch clutched in both claws. The next year, New Orleans joined in, and, like San Francisco and Philadelphia, would manufacture Morgan Dollars through 1904. This large, heavy, handsome, historic silver dollar was named after its designer, George Thomas Morgan, the 7th Chief Engraver of the U.S. Mint. Linderman favored the designs created by Morgan and production of the new silver dollars would commence on March 11, 1878, about a week after the passage of the Bland-Allison Act. Each coin shipped in October 2021. [8] Linderman contacted C.W. In England, he had studied and worked for the Wyon family, best known for their minting of several American colonial coinage issues. Another coin that was made at the San Francisco Mint, the 1896-S Morgan dollar coin is one of 5 million Morgan coins made in the California location that year. Two-thirds of the Philadelphia-minted dollars contained "privy marks" for the now defunct Carson City (CC) and New Orleans (O) mints. 1884 S Morgan Silver Dollar - $250,000 5.) Buy Morgan Silver Dollars Online. "[36] Congress supplied the General Services Administration with $10 million to market the dollar coins. The composition of the Morgan Silver Dollar contains 90% pure silver and 10% copper. The Morgan Dollar is frequently cited as the most popular series within all of American numismatics. Morgan used his fiancee, schoolteacher Anna Williams, as the model for the head of Liberty on one side of the coin. [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. In 1891, the Louisiana facility made 7.95 million Morgan dollars. When you buy Morgan Dollars at GovMint.com you can rest assured that you are buying authentic United States coinage. These are the last names of the experts who first documented the varieties. Despite these large purchases, the price of silver dropped and the world entered a financial panic caused in part by the silver issue. The eagles talons grasp an olive branch and three arrows. 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". One leading authentication service estimates that they have seen 1.4 million of these historic silver dollars. In 1873, Congress enacted the Fourth Coinage Act,[1] which effectively ended the bimetallic standard in the United States by demonetizing silver bullion. On July 23, 1965, President Johnson approved the Coinage Act of 1965, which removed silver from circulating coins and authorized that clad coins be used for the half dollar, quarter, and dime. 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. The US Mint began striking Morgan Dollars again in 2021, initially as a commemorative to celebrate the 100th anniversary of the conclusion of the designs final usage, then as an annual release starting in 2023. 1901 Morgan Silver Dollar - $425,500 3.) President Grover Cleveland responded to the situation by repealing the Sherman Silver Purchase Act. Prices start at $100 for a coin in very good, circulated condition (VG-8) and go up to $9,800 for a coin in mint condition that has never been circulated. Morgan Dollars invoke images of western salons and honky-tonks, with cowboys raising the stakes at poker games, and stagecoach robberies from outlaws looking to score a cache of these big, beautiful silver dollars. [30] The change in design was actually authorized under an 1890 act of Congress,[31] which stated: But no change in the design or die of any coin shall be made oftener than once in twenty-five years from and including the year of the first adoption of the design, model, die, or hub for the same coin: Provided, That no change be made in the diameter of any coin: And provided further, That nothing in this section shall prevent the adoption of new designs or models for devices or emblems already authorized for the standard silver dollar and the five-cent nickel piece as soon as practicable after the passage of this act. Here is a list of values for every Morgan dollar minted from 1878 through 1904, as well as 1921. That year, the Louisiana facility made 2.74 million Morgan dollars. By the early 1900s the Comstock Lode was exhausted and the silver bullion supply ran out. The 1892-O Morgan dollar coin was made at the New Orleans Mint, which used the O letter mark. A portion of the wing exhibits a grainy appearance and is characterized by small raised dots. From 1971-1974, the new dollar was minted with two different compositions: one for collectors, as an alloy of 800 parts of silver and 200 parts of copper, at the San Francisco Mint; the other for circulation (75% copper and 25% nickel), at the Philadelphia, Denver, and San Francisco Mints. 246, 248), the obverse features a profile of Lady Liberty, and the reverse features a heraldic eagle. 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. [39] Mint artist Joseph Menna made a new model for the reverse, employing a 1904 San Francisco-minted dollar as his model.[40]. Capturing the hearts of collectors around the world with their beautiful and storied designs, these coins were minted again in 2021 and sold . No special congressional authority was required for the modification in design, since the law permits changing the design of any U.S. coins after 25 years. Calculate 10% copper value : 1921 Morgan Silver Dollar - $36 (N Olmsted) image 1 of 5 QR Code Link to This Post. The Pittman Act, passed in 1918, authorized the melting and recoining of millions of silver dollars. This act restored silver as legal-tender. The U.S. only minted the Morgan dollar again during 1921,[28] the only year in which Morgan dollars were struck at the Denver mint. Selling some of silver collection. Today, prices start at $40 for a coin in very good, circulated condition (VG-8) and go up to $5,750 for a coin in mint condition that has never been circulated, with a high-quality silver luster (MS-65). So you can multiply that times the current price of silver to find out the absolute minimum your coin should be . Coin Values Moving with Precious Metals: Up-Dated 4/10/2023: Gold $1991 | Silver $24.76 Morgan Silver Dollar Values Popular and always in demand, minimum Morgan silver dollar values begin at $22.59 for a heavily worn example. Prices for an O over S Morgan dollar start at $44 for a coin in good but worn condition (G-4) and go up to $45,576 for a coin in mint condition that has never been circulated (MS-65). [27] Of that amount, 259,121,554 were sold to the United Kingdom at the cost of one dollar per troy ounce.[27]. The original design was for that of a half dollar. Coins made for commerce ended in 1878 with the introduction of the Morgan silver dollar. [6] This same amendment allowed for the issuance of silver certificates for the first time in United States history. Their price depends on several factors, including the number of coins minted in a specific year, the city where they were made and the coins current condition, with uncirculated coins being more rare and valuable. The Peace Dollar Source The United States Mint introduced the Peace Silver Dollars in December 1921 to celebrate the newfound peace after the World War. Linderman held a competition for the design of a new silver dollar, which was won by English engraver, George Morgan. Will also trade for silver rounds: 1885 P$42 1921 P$42 1889 P$45 1885 P$42 1921 P$41 This was the last year for the Morgan. Coin grading is the expression of an opinion that describes the condition of an individual coin that most dealers and collectors would agree with. In 1894, the California facility produced 1.26 million Morgan dollars in total. Create an account with Govmint.com today. Morgan Dollars are large and heavy coins that are made out of silver which is relatively soft and malleable. 1895 O Morgan Silver Dollar - $165,000 7.) Prices start at $32 for a coin in good, circulated condition (G-4) and go up to $6,233 for a coin in mint condition. Fremantle, Deputy Master of the Royal Mint in London, requesting him to "find a first class die-sinker who would be willing to take the position of Assistant Engraver at the Mint at Philadelphia. In 1918, Congress passed the Pittman Act to replenish the government's reserves of silver bullion by officially melting millions of the Morgan Silver Dollars stored in Treasury vaults. Production of this coin continued thorough 1904, when it was replaced by the Peace Dollar, but popularity was so high, the Morgan design was produced again for one year in 1921 . The Peace Dollar was struck from 1921-1928, at which point demand for the dollar was low, and the silver supply resulting from the Pittman Act ran out. Morgan Dollar The Morgan dollar, designed by George T. Morgan, was struck intermittently from 1878 to 1921. The 1895-O Morgan Dollar coin was made at the New Orleans Mint, which made 450,000 Morgan coins that year. Each mint, with the exception of Philadelphia, has its own mint mark. The Pennsylvania facility made over 6 million silver dollars that year. 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. The coins were polished and handled carefully to avoid being marked. They wanted to be ready when the time came. In 1878, dies that were originally made for the San Francisco Mint with the letter S were altered to the letter O for the New Orleans Mint. The inscription IN GOD WE TRUST appears above the eagle. The coin was from a bag of silver dollars in the vault of the Philadelphia Mint. Linderman, asking if he knew of someone who could fill the position of Assistant Engraver of the U.S. Mint. The Morgan was the first silver dollar that was minted after the demonetization of silver set by congress in the Coinage Act of 1873. The Mint Act of April 2, 1792 made it possible for the United States to strike its own coinage. For the NASCAR team formerly known as Morgan-Dollar Motorsports, see. His design of Lady Liberty was modeled after Anna Willess Williams. Prices for an 1894-O Morgan dollar start at as low as $50 but can go for up to $40,000. Silver $25.16 ( +0.09) as of 04-12 08:03 AM EST. 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. The Philadelphia Mints 1895 proof production is believed to have consisted of only 12,000 coins. 1889 CC Morgan Silver Dollar - $280,000 4.) Free shipping for many products! Following some design revisions, they were also struck at San Francisco and Carson City that same year, because of the facilities proximity to the silver mines in the western United States. The 1889-CC Morgan Dollar is a Key Date coin that has a limited supply with increasing demand. [24] Since the Treasury already had a surplus of silver dollars, minting of dollars dropped sharply beginning in 1892. [14] Pressure was so great at the Philadelphia Mint that it halted production of all other coins and began operating overtime. It requires the Secretary of the Treasury to mint and issue $1 silver coins in recognition of the 100th anniversary of completion of coinage of the Morgan Dollar and the 100th anniversary of commencement of coinage of the Peace Dollar. The Bland-Allison Act re-authorized the standard silver dollar to the weight and fineness as stated in the Act of January 18, 1837 (26.73 grams; .900 silver, .100 copper). During the mid-1970s, the quarter, half dollar, and dollar coins underwent a design transformation for the nations upcoming bicentennial celebration. The vast majority were lost through melts or attrition. She was a teacher and writer in Philadelphia at the time. Though a large number of Morgan Dollars were minted, two major pieces of legislation affected how many are left in existence: The Pittman Act of 1918 and the Silver Act of 1942. United States Mint All Rights Reserved. Only 1,000 of these coins still exist, and only 10 in mint, uncirculated condition. Prices start at $550 for a coin in very good, circulated condition (VG-8), and go up to $300,000. Calculate 90% silver value : ( 26.07 .0321507466 26.73 .90) = $20.1638519270. From the onset of the series, the requirements of the Bland-Allison Act led to heavy silver dollar production, well in excess of the needs for commerce. 1 oz South African Gold Krugerrand - Random Dates, 2019 Patriot 1 oz Proof Like Silver Round - American Revolution, 1 oz Canadian Platinum Maple Leaf - Random Date. 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. [2] Protests also came from bankers, manufacturers and farmers, who felt an increased money supply would have a positive impact. Title Two of this Act and its various amendments authorized the Eisenhower Dollar Coin. Over time, numismatists and coin grading services have refined and agreed upon specific definitions, descriptions and numeric values that help all coin collectors describe coins accurately when buying or selling. A list of linkable tags for topics mentioned on this page. 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. [15] Dies were eventually sent to the Western mints, arriving in both San Francisco and Carson City on April 16, 1878. The San Francisco Mint made 3.2 million of the 1884-S Morgan dollar coins. When demand and silver bullion supplies dropped as a result of this legislation, production of the Morgan Dollar was suspended in 1904 at all U.S. Mint facilities. The reverse design features a bald eagle with its wings outstretched, framed within a small, open wreath. This hefty silver coin has enthralled American coin collectors for generations. There is a single small M at the base of Liberty's neck as a tribute to the designer, George T. Morgan. JavaScript seems to be disabled in your browser. Today only about 17% of original Morgan mintages are estimated to survive. Prices start at $27 for a coin in good, circulated condition (G-4) and go up to $8,500 for an impeccable coin. Minted from 1878 to 1904, and again in 1921, the Morgan Dollar was designed by Mint Chief Engraver George T. Morgan (1845-1925). The theme of "peace" was a celebration of the end of the First World War. Like its predecessor, the Bicentennial Dollar was minted with two different compositions and was struck at the Philadelphia, Denver, and San Francisco Mints. The Morgan Silver Dollar is one of the most famous and most highly collected U.S. coins of all time. 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