Silver Morgan dollar was the first standard silver dollar to be produced since the passing of the coinage act of 1873. It is among the most famous coins in American history, minted from 1878 to 1904. The coin came back in 1921 and was discarded. However, it started again in 2021.
Most collectors are drawn to the silver Morgan dollar due to its historical significance. It ended the free coining of silver and stopped the previous design’s production, the seated liberty dollar, and it is the most colorful and treasured relic of America’s western border.
Read on the fascinating history of the silver Morgan dollar and where you can buy them.
The Beginning and Design of the Silver Morgan Dollar
The silver Morgan dollar had a rough start following a five years lapse of production of silver coins. Most of the public did not like the currency, they considered it heavy and bulky, and only a tiny percentage of the circulating coins were made of silver. After five years of heated debate, from 1873, Congress authorized the production of a new silver dollar in 1878, the silver Morgan dollar.
Unlike all the previous American dollars with an eagle with an uneven number of tail feathers on the coin’s reverse, the silver Morgan dollar had its eagle with even tail feathers. Surprisingly this difference became a center of controversy; most people thought an uneven number of tail feathers was the correct depiction of the bird. Due to public pressure, the eagle tail was changed from eight feathers to seven feathers.
Designer of the Silver Morgan Dollar
The beautiful Morgan dollar was named after its British designer George T. Morgan, recruited as a “special engraver” for the U.S Mint’s Philadelphia branch. Morgan was born and raised in England. He studied at the Birmingham Art School and later joined London’s National Art training school. He started working as an engraver for the Royal Mint of London before he was recruited for the Americas mint.
He used Anna Williams, a Philadelphia school teacher, as a model for lady liberty, one of his half-dollar patterns because her Greek profile was ideal. He later expanded this pattern to the size of the silver Morgan dollar after the Bland Allison Act in 1878.
How to buy Silver Morgan Dollar
The silver Morgan dollar has become hard to collect since the Pittman Act. The Act ordered the conversion of the standard silver dollar into bullion. Since then, the actual number of silver Morgan dollars is not known. Most of the rarer branch mint and year date issues were destroyed along with the standard coin.
However, if you want to buy silver Morgan dollars, there are several ways you can use. You can do online research or ask for referrals from friends for reputable dealers in coin and precious metal firms. Also, it would be wise to get help from someone with knowledge of the silver Morgan dollar because the collectible coin market is not regulated and involves risks.
To Sum It Up
Investing in silver Morgan dollars can be a great way to diversify your portfolio. If you are looking for a highly profitable investment, the silver Morgan dollar is the way to go.