In 2021, coin collectors throughout the country acknowledge the century mark since the last minting of the Morgan Silver Dollar. Today, these storied coins are worth far more than they used to be, thanks to their rich and long history. If you want to learn more about the story behind this particular coin, check out this overview. 

Birthed From Legislation

The Morgan Dollar was first minted in 1878, but its origins lie in 1837, the year of the Bland-Allison Act. This legislation reversed the demonetization of silver and set the standard weight and makeup of silver dollars: 26.73 grams of .900 silver and .100 copper. The first coin to fill these measurements was the Morgan Dollar. The coin’s production began in 1878 at the Philadelphia Mint and was quickly followed by the San Francisco and Carson City Mints, conveniently located near large silver mines. 

A Classic Design

The Morgan Dollar was named after its designer, George T. Morgan. He designed the front or obverse side of the coin with the profile of a woman personifying liberty. The back or reverse face features the patriotic symbol of a bald eagle.

Pauses in Production

In 1890, the Sherman Silver Purchase Act changed the course of silver coin production. Essentially, it required the United States to purchase 4.5 million ounces of silver bullion every month, which caused a steep reduction in silver supplies for making coins. As a result, the minting of the Morgan Silver Dollar was paused in 1904. Between 1905 and 1920, none were made. 

In 1918, the Pittman Act resulted in millions of silver dollars being melted and the purchase of silver for new coins. In 1921, the Morgan Dollar was minted again to fulfill the demand for new silver currency. This was the last year the Morgan Dollar was made, as the government then switched to the Peace Dollar.

If you are invested in the history of this special dollar and want to learn even more, reach out to Coins Plus of Cincinnati, OH. They have served and educated coin collectors since 1972 and are widely known as Cincinnati’s only "National Award Winning and PNG Dealer." In addition to offering advice on coin buying and selling, they can appraise your existing assets, including coins, jewelry, and antiques. To learn more about their services, visit the website, or call (513) 621-1996 today to speak with a fellow coin collector.