Here are a few of the most popular VAM Morgan silver dollars. As a result, U.S. coins disappeared almost as fast as they were minted. Prices start at $32 for a coin in good, circulated condition (G-4) and go up to $6,233 for a coin in mint condition. United States Mint All Rights Reserved. Was it part of a famous collection or hoard? Morgan dollar, proof coins were made in small, limited productions and given special care. We use cookies to make your experience better. [43] After the chaos caused by the CC and O dollars, the Household Order Limit was reduced from 10 to 3 for the remainder of the dollars. 1893 S Morgan Silver Dollar - $550,000 2.) From 1878 to 1904, and again in 1921, 657 million Morgan Dollars were produced in 96 different date-and-mint combinations, over the 27 years of Morgan production. [23] Despite the Act's requiring large purchases of silver indefinitely, it provided that the Mint must coin 2,000,000 silver dollars each month only until 1891. The Morgan was the first silver dollar that was minted after the demonetization of silver set by congress in the Coinage Act of 1873. For the best experience on our site, be sure to turn on Javascript in your browser. [35] The GSA conducted a total of seven mail bid sales between 1972 and 1980. All purchases are expressly conditioned upon your acceptance of our Terms and Conditions; to decline, return your purchase pursuant to our Return Policy. This is the rarest of all Morgan dollars, as only 100,000 were produced in the California facility that year. The composition of the Morgan Silver Dollar contains 90% pure silver and 10% copper. The 1901 unmarked Morgan Dollar coin was made at the Philadelphia Mint, which was the only facility that did not put a letter mark on Morgans. The 1893-CC Morgan dollar coin was made at the Carson City Mint. We offer reliable real coin melt conversions and hand written stats on each and every coin in our database. [15] Dies were eventually sent to the Western mints, arriving in both San Francisco and Carson City on April 16, 1878. Today, prices start at $40 for a coin in very good, circulated condition (VG-8) and go up to $5,750 for a coin in mint condition that has never been circulated, with a high-quality silver luster (MS-65). Instead, the BlandAllison Act was passed, which required the Treasury to purchase between two and four million dollars' worth of silver at market value to be coined into dollars each month. It requires the Secretary of the Treasury to mint and issue $1 silver coins in recognition of the 100th anniversary of completion of coinage of the Morgan Dollar and the 100th anniversary of commencement of coinage of the Peace Dollar. A list of linkable tags for topics mentioned on this page. The Mint Act of April 2, 1792 made it possible for the United States to strike its own coinage. The 2021 Peace Dollars had no mint mark and were only minted in Philadelphia. [35] Legislation was passed on December 31, 1970 directing the Treasury to transfer the silver dollars to the Administrator of General Services who was given the responsibility for marketing and selling the coins. 1884 S Morgan Silver Dollar - $250,000 5.) Actual market prices will vary slightly when you sell your coins. [4] Trade dollars initially held legal tender status, but it was revoked in 1876 to prevent bullion producers from making a profit by coining silver into trade dollars when the value of the metal was low. Heralded as boasting the best of all the Silver Dollar designs, the Morgan was an immediate hit with US citizens when it was released back in 1878. The Pittman Act, passed in 1918, authorized the melting and recoining of millions of silver dollars. It is highly sought after by collectors and investors alike. The 2021 Morgan Dollar is part of the Morgan and Peace Dollar Anniversary Coin Program. In 1879, the California facility produced 8.6 million Morgan dollars in total. Numismatists have even traced the history of each VAM to the dies used to strike the coins. This is usually the value used by coin dealers when selling these coins at melt value. However, certain issues of the series had low mintages or experienced heavy circulation and melting, resulting in a very limited number of survivors. Again, it will always depend on the exact condition of the coin. Prices start at $50 for a coin in very good, circulated condition (VG-8) and go up to $6,040 if it hasn't been circulated. The Nevada facility made 677,000 coins that year. A cap, flora, and a crown incused with the word LIBERTY adorn her head, while 13 stars, E PLURIBUS UNUM, and the date of issuance encircle her. [37] Authorization came at the behest of several hobby publications, who enlisted readers to contact their local congressmen and persuade them to pass necessary legislation. Morgan Dollars contain 26.73 grams of .900 fine silver and .100 copper for a total net weight of .77344 ounces of pure silver. In 1891, the Louisiana facility made 7.95 million Morgan dollars. Holding a Morgan in your hand takes you back to the Old West, reminiscent of Americas ingenuity and entrepreneurship. Thus the pure silver content was 371.25 gr = 24.056 g = 0.7735 oz t.[20], Mintage of the Morgan dollar remained relatively steady until the passage of the Sherman Silver Purchase Act on July 14, 1890. The same quantity melted was required to be replaced with newly minted silver dollars struck with silver from other sources. They were made in five different U.S. Treasury locations, and each mint had its own special letter designation stamped on the coins. The situation was exacerbated by the Sherman Silver Purchase Act, which increased the required government purchase of silver to 4.5 million ounces per month. Your browser is out of date. Prices start at $550 for a coin in very good, circulated condition (VG-8), and go up to $300,000. [8] His earliest pattern coins designed during his tenure at the Philadelphia Mint were intended for the half dollar. Morgan Silver Dollar Key Dates- learn about key, semi-key, and better dates. Adhering to the requirements written in the Coinage Act of April 2, 1792 (1 Stat. The Morgan Dollar was designed by Mint Chief Engraver George T. Morgan (1845-1925) and was minted from 1878 to 1904, and again in 1921. [27] The bill, passed on April 22, 1918, stated that "sales of silver bullion under authority of this act may be made for the purpose of conserving the existing stock of gold in the United States, of providing silver for subsidiary coinage and for commercial use, and of assisting foreign governments at war with the enemies of the United States". "[8] An agreement was reached between Linderman and Morgan for the engraver to work at the Philadelphia Mint under Chief Engraver William Barber on a six-month trial basis. Today, Morgans range considerably in value. After running his own engraving business in London, he became an Engraver at England's Royal Mint. Of these, 500,000 used a reverse of the 1878 design, so the eagle and the arrows appear flatter. However, unlike some of the other coins, we see a significant increase in value in high-end condition. Local Storage seems to be disabled in your browser.For the best experience on our site, be sure to turn on Local Storage in your browser. Since this coin's inception it has become one of the most popular silver dollars in America. In mid-1876, Morgan's career took an unexpected turn. [36] The legislation also stated that all proceeds from the sale were to be "covered into the Treasury as miscellaneous receipts. 3- Peace Silver Dollars (1922,1923,1934) do NOT contact me with unsolicited services or offers. 1895 O Morgan Silver Dollar - $165,000 7.) Consequently, this coin has the highest number of forgeries. It was struck again in 1977 and1978, but this time only with the copper-nickel clad version. 1896 O Morgan Silver Dollar - $140,000 This year, the Mint brings those two famous designs back to collectors as a result of the 1921 Silver Dollar Coin Anniversary Act (Public Law 116-286).It requires the Secretary of the Treasury to mint and issue $1 silver coins in recognition of the 100th anniversary of completion of coinage of the Morgan Dollar and the 100th anniversary of commencement of coinage . The 1889-CC Morgan dollar coin was made at the Carson City Mint, which only made 350,000 Morgans that year. The large size of the Morgan Dollar makes it difficult to strike up the design fully. Prices derived from NGC Coin Explorer, PCGS Coin Facts, and USA CoinBook. [6], Beginning in 1876, several bills were introduced in the House of Representatives in an effort to resume the free coinage of silver. The obverse design depicts a female head emblematic of Liberty, wearing a tiara of light rays. However, the total melt value is continued below. His design of Lady Liberty was modeled after Anna Willess Williams. Groups were formed that demanded the free coinage of silver (or "free silver") in order to inflate the dollar following the Panic of 1873. This was also one of the most exciting and turbulent periods in United States history, and Morgan was witness to dramatic changes taking place all around him - from the winning of the West to World War I, and from the Wright Brothers' flight to Babe Ruth taking the baseball world by storm. The Morgan Dollar Reverse Design features an eagle with wings outspread with the motto, IN GOD WE TRUST above. [13] The first acceptable strike, after adjustments to the press, was coined at 3:17p.m. at the Philadelphia Mint. Although Trade dollars were produced from 1873-1878, they were meant for circulation overseas and were not legal tender in America. Silver dollar coins minted in Carson City, Nevada are prized by collectors. [17] The New Orleans Mint began striking the new silver dollars in 1879. The first U.S. Silver Dollars were struck in 1794, but American merchants kept the heavier and more valuable Spanish coins for themselves and exported the lighter U.S. coins to Europe for trade. In 1921, the Mint redesigned the Morgan dollar. Price Guide. This means the coin is worth $19.35 based off its silver content alone. Coins. This is a short abbreviation on the coin that tells you the location where it came from: In the case of coins from the Philadelphia Mint, the mintmark is omitted. The coin is named after its designer, United States Mint Assistant Engraver George T. Morgan. 1893 O Morgan Silver Dollar - $180,000 6.) The Act also created paper currency known as silver certificates, which were backed by the exact amount of silver dollars retained by the Treasury. From 1879 until 1885 the United States Mint only made Proof coins specifically for coin collectors. The designers initial, appearing as a single M, is found on the truncation of the neck. Coin Values Moving with Precious Metals: Up-Dated 4/10/2023: Gold $1991 | Silver $24.76 Morgan Silver Dollar Values Popular and always in demand, minimum Morgan silver dollar values begin at $22.59 for a heavily worn example. Now, 145 years after they were first minted, comes this special release of ORIGINAL U.S. GOV'T MORGAN SILVER DOLLARS. That year, the Louisiana facility re-used dies from 1886, altering the six to a seven, and part of the six can still be seen on the 1887 coins. The Peace Dollar Source The United States Mint introduced the Peace Silver Dollars in December 1921 to celebrate the newfound peace after the World War. Although the silver dollar had been regarded as the cornerstone of the American monetary system, during its early history the denomination experienced sporadic circulation and long interruptions in production. We would encourage you to review our Payment Methods FAQ for simple answers to common payment-related questions. Choice of 2. The Mint made more than one million Peace Dollars in less than one month. [25] In June of that year, President Grover Cleveland, who believed that the Panic was caused by the inflation generated by the Sherman Silver Purchase Act, called a special session of Congress in order to repeal it. 1 oz South African Gold Krugerrand - Random Dates, 2019 Patriot 1 oz Proof Like Silver Round - American Revolution, 1 oz Canadian Platinum Maple Leaf - Random Date. It's updated every 15 minutes. Later that year, the Philadelphia Mint switched production to the Peace Dollar. In 1890, the Sherman Silver Purchase Act attempted to address this problem. The eagles talons grasp an olive branch and three arrows. Specifically, the Act required the United States government to purchase between 2 and 4 million ounces of silver each month to be minted into silver dollars. [27] The Pittman Act authorized the U.S. to melt up to 350,000,000 silver dollars,[27] and this commenced immediately after the Act's passage. 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