El Morgan Dollar It is one of the most iconic and popular coins among collectors around the world. Minted between 1878 and 1921, this silver coin witnessed important economic and social changes in the United StatesIts elegant design and history linked to silver mining make the Morgan Dollar a piece of great historical and numismatic value.
History of the Morgan Dollar
The Morgan Dollar is named after its designer, George T. Morgan, assistant engraver of the U.S. Mint at the time. Its creation responded to the Bland-Allison Act of 1878, which forced the U.S. government to purchase large quantities of silver to mint coins.
Minting periods:
- First stage (1878-1904): During these years, millions of Morgan Dollars were produced at various mints, including Philadelphia, New Orleans, San Francisco, and Carson City.
- Second stage (1921): After a long period of inactivity, the Mint resumed minting the Morgan Dollar only in 1921, before being replaced by the Peace Dollar.
Reasons for the temporary cessation of minting: Production of the Morgan Dollar ceased in 1904 because silver supplies purchased under the Bland-Allison Act (1878) and Sherman Act (1890) were exhausted. These laws required the government to purchase large quantities of silver to mint dollars, but when those reserves were exhausted, there wasn't enough silver available to continue production.
However, during World War I, the Pittman Act of 1918, which authorized the merger of approximately 270 million Morgan Dollars to sell the silver to Great Britain and stabilize its economy. This same law required the government to mint new dollars to replace the melted coins, which led to the temporary resumption of the Morgan Dollar in 1921 before it was replaced by the Peace Dollar that same year.
Technical Specifications and Dimensions
Diameter: 38.1 mm
Thickness: 2.9 mm
Weight in grams: 26.73 gr
Characteristics of the song: Fluted
Composition: 90% silver and 10% copper
Design and Representation of the Currency
Obverse: Presents the portrait of Lady Liberty, inspired by Anna Willess Williams, surrounded by 13 stars symbolizing the original colonies. The motto “E PLURIBUS UNUM” and the year of minting complete the design.
Back: Show a American Eagle with outstretched wings, holding an olive branch and a bundle of arrows. Below, a laurel branch is shown; the mint mark appears below this element (all mints except the Philadelphia mint). The inscription “UNITED STATES OF AMERICA” y “ONE DOLLAR” surround the figure, along with the motto “IN GOD WE TRUST”.
Design symbolism: The bust of Lady Liberty represents freedom and republican ideals, while the eagle symbolizes the power and protection of the nation.
Composition of the Currency
Unlike other currencies that experienced changes in their metallic content, the Morgan Dollar maintained a composition of 90% silver and 10% copper throughout its production. This consistency ensured its durability and appeal to collectors interested in high-silver-content coins.
Manufacturing Mints and Mint Marks
The Morgan Dollar was minted at several U.S. mints, identifiable by their respective mint marks:
- Philadelphia (unbranded)
- Carson City (CC) – The most sought after by collectors due to its rarity.
- New Orleans (O)
- San Francisco (S)
- Denver (D) – Only in 1921.
Below is a table with relevant information about the coins minted, including the year, mint mark, and number of coins minted:
| Year/Mint | coinage | Notes |
|---|---|---|
| 1878 | 750 000 | 1st reverse |
| 1878 | 500 | 1st reverse, Proof |
| 1878 | 9 759 300 | 2nd reverse |
| 1878 | 250 | 2nd reverse, Proof |
| 1878 | 3rd reverse, minting included on 2nd reverse | |
| 1878 | 7 out of 8 tail feathers, minting included on the second reverse | |
| 1878 CC | 2 212 000 | |
| 1878 | 9 744 000 | |
| 1879 | 14 806 000 | |
| 1879 | 1 100 | Proof |
| 1879 CC | 756 000 | Clear CC (normal) |
| 1879 CC | Punched mint mark, CC over CC | |
| 1879 O | 2 887 000 | |
| 1879 | 9 110 000 | 2nd reverse |
| 1879 | 3st reverse | |
| 1880 | 12 600 000 | |
| 1880 | Overdate 80/79 | |
| 1880 | 1 355 | Proof |
| 1880 CC | 495 000 | 2nd reverse, Overdate 8/7 |
| 1880 CC | 2nd reverse, Overdate 80/70 | |
| 1880 CC | 3rd reverse, Overdate 8/under 7 | |
| 1880 CC | 3rd reverse, Overdate 8/7, (normal strike) | |
| 1880 CC | 3rd reverse, Overdate 8/height 7 | |
| 1880 O | 5 305 000 | |
| 1880 O | Overdate 80/70 | |
| 1880 | 8 900 000 | |
| 1880 | Overdate 0/9 | |
| 1880 | Overdate 80/79 | |
| 1881 | 9 163 000 | |
| 1881 | 984 | Proof |
| 1881 CC | 296 000 | |
| 1881 O | 5 708 000 | |
| 1881 | 12 760 000 | |
| 1882 | 11 100 000 | |
| 1882 | 1 100 | Proof |
| 1882 CC | 1 133 000 | |
| 1882 O | 6 090 000 | |
| 1882 O | Punched mint mark, O over S | |
| 1882 | 9 250 000 | |
| 1883 | 12 290 000 | |
| 1883 | 1 039 | Proof |
| 1883 CC | 1 204 000 | |
| 1883 O | 8 725 000 | |
| 1883 | 6 250 000 | |
| 1884 | 14 070 000 | |
| 1884 | 875 | Proof |
| 1884 CC | 1 136 000 | |
| 1884 O | 9 730 000 | |
| 1884 | 3 200 000 | |
| 1885 | 17 787 000 | |
| 1885 | 930 | Proof |
| 1885 CC | 228 000 | |
| 1885 O | 9 185 000 | |
| 1885 | 1 497 000 | |
| 1886 | 19 963 000 | |
| 1886 | 886 | Proof |
| 1886 O | 10 710 000 | |
| 1886 | 750 000 | |
| 1887 | 20 290 710 | |
| 1887 | Overdate 7/6 | |
| 1887 | 710 | Proof |
| 1887 O | 11 550 000 | |
| 1887 O | Overdate 7/6 | |
| 1887 | 1 771 000 | |
| 1888 | 19 183 000 | |
| 1888 | 833 | Proof |
| 1888 O | 12 150 000 | |
| 1888 O | Double die-cut on the front | |
| 1888 | 657 000 | |
| 1889 | 21 726 000 | |
| 1889 | 811 | Proof |
| 1889 CC | 350 000 | |
| 1889 O | 11 875 000 | |
| 1889 | 700 000 | |
| 1890 | 16 802 000 | |
| 1890 | 590 | Proof |
| 1890 CC | 2 309 041 | |
| 1890 CC | Stripe on the eagle's tail | |
| 1890 O | 10 701 000 | |
| 1890 | 8 230 373 | |
| 1891 | 8 693 556 | |
| 1891 | 650 | Proof |
| 1891 CC | 1 618 000 | |
| 1891 O | 7 954 529 | |
| 1891 | 5 296 000 | |
| 1892 | 1 036 000 | |
| 1892 | 1 245 | Proof |
| 1892 CC | 1 352 000 | |
| 1892 O | 2 744 000 | |
| 1892 | 1 200 000 | |
| 1893 | 378 000 | |
| 1893 | 792 | Proof |
| 1893 CC | 677 000 | |
| 1893 O | 300 000 | |
| 1893 | 100 000 | |
| 1894 | 110 000 | |
| 1894 | 972 | Proof |
| 1894 O | 1 723 000 | |
| 1894 | 1 260 000 | |
| 1895 | 880 | Proof Only |
| 1895 O | 450 000 | |
| 1895 | 400 000 | |
| 1896 | 9 967 000 | |
| 1896 | 762 | Proof |
| 1896 O | 4 900 000 | |
| 1896 | 5 000 000 | |
| 1897 | 2 822 000 | |
| 1897 | 731 | Proof |
| 1897 O | 4 004 000 | |
| 1897 | 5 825 000 | |
| 1898 | 5 884 000 | |
| 1898 | 735 | Proof |
| 1898 O | 4 440 000 | |
| 1898 | 4 102 000 | |
| 1899 | 330 000 | |
| 1899 | 846 | Proof |
| 1899 O | 12 290 000 | |
| 1899 | 2 562 000 | |
| 1900 | 8 880 000 | |
| 1900 | 912 | Proof |
| 1900 O | 12 590 000 | |
| 1900 O | Punched mint mark, O over CC | |
| 1900 | 3 540 000 | |
| 1901 | 6 962 000 | |
| 1901 | Double die cut on the reverse | |
| 1901 | 813 | Proof |
| 1901 O | 13 320 000 | |
| 1901 | 2 284 000 | |
| 1902 | 7 994 000 | |
| 1902 | 777 | Proof |
| 1902 O | 8 636 000 | |
| 1902 | 1 530 000 | |
| 1903 | 4 652 000 | |
| 1903 | 755 | Proof |
| 1903 O | 4 450 000 | |
| 1903 | 1 241 000 | |
| 1903 | Micro "S" | |
| 1904 | 2 788 000 | |
| 1904 | 650 | Proof |
| 1904 O | 3 720 000 | |
| 1904 | 2 304 000 | |
| 1921 | 44 690 000 | |
| 1921 D | 20 345 000 | |
| 1921 | 21 695 000 |
Information partially obtained from numist
How to identify mint marks
The mint mark appears on the reverse, just below the laurel wreath loop surrounding the eagle.
Current Numismatic Value
The value of the Morgan Dollar varies significantly depending on the year of minting, the mint mark, and the condition of its preservation. Some coins fetch astronomical prices at auction due to their rarity:
- State of conservation: Coins in grade MS-65 or higher reach very high values.
- Mint mark: The dollars minted in Carson City (CC) are the most wanted.
- Year of issue: Some years have more limited productions, increasing their value.
Examples of relevant prices:
- 1889 CC Morgan Dollar, MS68 grade: Fetched $881,250.00 USD at auction.
- 1886 Morgan Dollar O, MS67 grade: Fetched $780,000.00 USD at a 2020 auction.
The Morgan Dollar remains one of the most iconic and valuable coins for collectors around the world. Its iconic design, rich history, and the purity of its silver make this series a tangible testament to America's economic and cultural history. We encourage you to continue exploring our website for more interesting articles on historical coins.
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