14 Days To A Better MORGAN SILVER DOLLAR VALUE

 

Silver Stockpile and the Morgan Dollar

Silver mining in the U.S., chiefly the Comstock Jackpot (1859), is the impetus that gave silver dollar money its prime. However, before benefiting from this discovery, the nation had to overcome previous legislation that demonetized silver. Finally, the standard silver dollar was reinstated under the Bland-Allison Act to the weight and fineness specified on January 18, 1837 (26.73 grams; .900 silver, .100 copper).

Because it was designed by George T. 

Morgan, who would also serve as a chief engraver from 1917 to 1925, this new coin would be known as the Morgan Dollar. Adhering to the requirements morgan silver dollar value outlined on April 2, 1792, Coinage Act 246, 248), have a profile of Lady Liberty on the obverse and a heraldic eagle on the reverse.

In 1878, the Philadelphia Mint struck the first Morgan Dollar coins. Due to the facilities' proximity to the silver mines in the western United States, they were struck at San Francisco and Carson City in the same year after some design revisions. The following year, New Orleans participated and, like San Francisco and Philadelphia, would fabricate Morgan Dollars through 1904.

The Sherman Silver Purchase Act of 1890 ended silver dollar production once more, influencing the silver supply chain. Production of the Morgan Dollar was halted in 1904 at all U.S. Mint facilities due to the legislation's impact on demand and silver bullion supplies.

From 1905 to 1920, no silver dollar coins were produced in the United States. The New Orleans Mint's reliance on making silver coins ultimately resulted in its closure as a Mint facility.

The Pittman Act of 1918 authorized the melting of millions of previously minted silver dollars, most notably Morgan Dollars, following World War I. However, the Act also mandated the purchase of silver to produce new silver coins to replace the melted ones.

Production of the Morgan Dollar resumed in 1921 in Philadelphia, San Francisco, and Denver for the first time to comply with the Pittman Act. The Peace Dollar was made by the Philadelphia Mint later that year. Because the law allows for the design of any United States coin to be changed after 25 years, the change in strategy did not require any special authorization from Congress.

The Peace Dollar, Peace Dollar, was approved by Treasury Secretary Andrew Mellon in December 1921 to replace the Morgan Dollar. The Peace Dollar was issued, honouring the peace agreement between the United States and Germany. The Mint earned more than one million Peace Dollars in less than a month. Nearly 25 million Peace Dollars were issued within six months.

The Peace Dollar's design was chosen by the Commission of Fine Arts (CFA) from several well-known sculptors' models. The CFA preferred the work of Anthony de Francisci, a famous Italian-American artist. The front-side plan portrays a female head of Freedom wearing a crown of light beams. The reverse design shows an eagle watching the dawn of a new day from a mountaintop while holding an olive branch in its talons.

Between 1921 and 1928, when demand for the Peace Dollar was low, and the Pittman Act's silver supply ran out, the dollar was struck. The Silver quarters Purchase Act of 1934, enacted before World War II, authorized its final minting. The coinage was only in use until 1935, and it was short-lived. These last Harmony Dollars were struck at the Philadelphia, Denver, and San Francisco Mints.

Production of Dollar Coins, 1878-1978:

 Morgan Dollars were produced by Carson City Mint; Denver Mint had Morgan, Peace, and Eisenhower Dollars; New Orleans Mint made Morgan Dollars; Morgan, Peace, and Eisenhower Dollars were minted at the Philadelphia Mint; the San Francisco Mint produced Morgan, Peace, and Eisenhower Dollars.

The years that each Mint facility produced dollar coins between 1878 and 1978 are depicted in this graphic. (To expand, click.)

The Eisenhower Dollar After 1935, the Mint did not produce any silver dollars that were put into circulation. The silver dollar shortage was almost over when new legislation allowed the Denver Mint to issue Peace Dollars in 1964. However, they were kept private.

Due to the ongoing shortage, legislation was drafted to remove silver from coins. President Johnson approved the Coinage Act of 1965 on July 23, 1965. It allowed clad coins to be used for the half dollar, quarter, and dime, taking silver out of circulating coins.

The Bank Holding Company Act 

Amendments of 1970 were enacted into law by President Richard M. Nixon on December 31, 1970. This Act and its various amendments in Title Two authorized the Eisenhower Dollar Coin.

Unexpectedly enough, the very Act that brought forth the country's most up-to-date dollar coin likewise approved the offer of one of its ancestors — 2.8 million Morgan Dollars (printed at the Carson City Mint) put away in U.S. Depository Office vaults.

The Mint produced copper-clad and silver-clad Eisenhower dollars in 1971. The portrait of a U.S. president was allowed to appear on a dollar coin for the first time with this coin. Additionally, it was the first circulated silver dollar coin since 1935.

Frank Gasparro, Chief Engraver at the U.S. Mint, created the coin's design. President Dwight Eisenhower is modelled on the reverse scenario. According to a legislative amendment, the reverse design represented the Apollo 11 flight, which honoured our nation's astronauts' achievements and the first moon landing. Gasparro's version of the Apollo 11 emblem, highlighted on the opposite of the coin, shows the bald eagle arriving on the cavity-marked surface of the moon, a peace offering grasped in the two paws.

The new dollar was minted with two distinct compositions from 1971 to 1974: one for collectors at the San Francisco Mint, "as an alloy of 800 parts silver and 200 parts copper," the other for circulation at the Philadelphia, Denver, and San Francisco Mints (75 per cent copper and 25 per cent nickel).

The quarter, half-dollar, and dollar coins underwent a design change in time for the country's upcoming bicentennial celebration in the middle 1979 dollar coin of the 1970s. This marked the first time in our nation's history that designs on circulating coins honoured an independence day.

The obverse of the Bicentennial Dollar, struck in 1975 and 1976, was comparable to that of the Eisenhower Dollar, except for the dual-date addition of 1776 and 1976. However, the reverse of the coin underwent a more extensive transformation. It was planned by Dennis R. Williams (an understudy at Columbus School of Workmanship and Plan) 1921 silver dollar value and highlighted a Freedom Ringer and moon mix. The Bicentennial Dollar, like its predecessor, was struck at the Philadelphia, Denver, and San Francisco Mints with two distinct compositions.

The Eisenhower Dollar's original design featured a single date and an eagle on the reverse and was reintroduced into circulation following the celebration. In 1977 and 1978, it was struck once more, this time only with the copper-nickel-clad version.

From 1979 to 2011, new designs of the dollar coin were put into circulation. Dollar coins have only been minted and distributed as numismatic items since 2012. None have ever been as well-liked as the well-known Peace Dollar or Morgan.

2021 100th Anniversary Coins 

This year, due to the 1921 Silver Dollar Coin Anniversary Act (Public Law 116-286), the Mint is bringing those two well-known designs back to collectors. In honour of the 100th anniversary of the Morgan Dollar's completion and the 100th kennedy half dollar value anniversary of the Peace Dollar's beginning, the Secretary of the Treasury must mint and issue $1 silver coins. You can find additional information regarding these products in the coming weeks on our website and social media platforms.