Money

Morgan Silver Dollar: The Legendary U.S. Silver Coin

Published

3 days ago

January 30, 2025

Kelly

Morgan Silver Dollar: The Legendary U.S. Silver Coin

The Morgan Silver Dollar stands as a testament to America’s rich numismatic heritage, capturing the essence of the nation’s history and artistry.

Minted between 1878 and 1904, with a final issuance in 1921, this coin has become a cherished piece among collectors and historians alike.

Origins and Design

The Morgan Silver Dollar was introduced following the Bland-Allison Act of 1878, which mandated the U.S. Treasury to purchase large quantities of silver to be minted into coins.

Designed by George T. Morgan, a British engraver who joined the U.S. Mint, the coin features a profile of Lady Liberty on the obverse, adorned with a Phrygian cap and a crown made of cotton and wheat—symbols of unity and prosperity.

The reverse showcases a majestic eagle with outstretched wings, clutching arrows and an olive branch, signifying strength and peace.

Minting Locations and Mint Marks

The Morgan Silver Dollar was produced in several mints across the United States, each identifiable by a unique mint mark:

Mint Location	Mint Mark	Years of Production
Philadelphia	None	1878–1904, 1921
New Orleans	O	1879–1904
San Francisco	S	1878–1904, 1921
Carson City	CC	1878–1885, 1889–1893
Denver	D	1921

The Carson City Mint, with its “CC” mark, is particularly noted for producing some of the most sought-after Morgan Dollars due to their limited mintage and historical significance.

Key Dates and Rarities

While many Morgan Silver Dollars are readily available, certain dates and mint marks are considered rare and command higher premiums:

1879-CC: With a mintage of only 756,000, this coin is highly coveted, especially in uncirculated condition.
1889-CC: Known as the “King of the Morgan Dollars,” its low mintage of 350,000 makes it extremely valuable.
1893-S: The lowest mintage of the series at 100,000, making it the most valuable Morgan Dollar.

Factors Influencing Value

The value of a Morgan Silver Dollar is influenced by several factors:

Condition (Grade): Coins are graded on a scale from 1 to 70, with higher grades indicating better preservation and thus higher value.
Mintage: Lower mintage numbers typically increase a coin’s rarity and value.
Mint Mark: Certain mint marks, like “CC” for Carson City, are more desirable due to their historical context and limited production.
Market Demand: The popularity of coin collecting and current market trends can affect a coin’s value.

Modern Commemorative Issues

In recent years, the U.S. Mint has recognized the enduring popularity of the Morgan Silver Dollar by issuing modern commemorative versions:

2021: To mark the 100th anniversary of the transition from the Morgan to the Peace Dollar, the Mint released special issues of both coins.
2024: The Mint announced the release of uncirculated and proof versions of the Morgan and Peace Silver Dollars, continuing the legacy of these iconic designs.

Collecting Tips

For those interested in collecting Morgan Silver Dollars:

Authentication: Due to their value, counterfeit Morgan Dollars exist. It’s essential to purchase from reputable dealers and consider third-party grading services for verification.
Storage: Proper storage in a cool, dry place, using protective holders, can prevent tarnishing and damage.
Research: Familiarize yourself with the coin’s history, key dates, and variations to make informed collecting decisions.

The Morgan Silver Dollar remains a symbol of America’s rich history and craftsmanship. Its intricate design, coupled with its storied past, continues to captivate collectors and enthusiasts, ensuring its place as a timeless treasure in the world of numismatics.