A die break caused one of the most famous Morgan dollar VAMs called "Scarface." It was struck again in 1977 and1978, but this time only with the copper-nickel clad version. One leading authentication service estimates that they have seen 1.4 million of these historic silver dollars. In 1890, the Sherman Silver Purchase Act attempted to address this problem. $36 each. [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. Prices in USD Change. [29] Another provision of the Pittman Act authorized the U.S. to mint a replacement coin for every silver dollar melted. His iconic design is one of the most recognized coin designs in the world. Only 1,000 of these coins still exist, and only 10 in mint, uncirculated condition. 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. [24] The act was repealed on November 1, 1893. Prices start at $34 for a coin in very good, circulated condition (VG-8), but very lucky collectors can get as much as $149,500 for one in mint condition. These famous silver dollars were struck from 1878 through 1904 and once more in 1921. Approximately 300,000 1889-CC Silver Dollars were melted, ensuring 1889-CC survivors as one of the Key Dates in the Morgan Dollars series. This Act allowed for up to 350 million silver dollars held in storage to be melted and converted into bullion. The 1895-O Morgan Dollar coin was made at the New Orleans Mint, which made 450,000 Morgan coins that year. The Morgan Silver dollars represent the best in silver coin manufacturing at its time. These varieties are commonly known as VAMs. In 1890, the BlandAllison Act was repealed by the Sherman Silver Purchase Act, which required the Treasury to purchase 4,500,000 troy ounces (140,000kg) of silver each month, but only required further silver dollar production for one year. Subsequent designs of the dollar coin continued to be issued into circulation from 1979-2011. Your browser is out of date. Due to a bad die, the coins were struck twice with the mark, resulting in a doubled effect. It represented the country's westward expansion and industrial development in the late 19th century. Morgan Dollar (1878-1921) Auction Prices Population CoinFacts Photograde Set Registry. [38] The approved designs include a frontal view of the Old Mint building on the obverse and a copy of Morgan's eagle design on the reverse. 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. In 1921, the Mint redesigned the Morgan dollar. The coins were polished and handled carefully to avoid being marked. The same quantity melted was required to be replaced with newly minted silver dollars struck with silver from other sources. On September 22, 2020 the U.S. House of Representatives passed legislation to allow the minting of Morgan and Peace dollar coins in 2021, the 100-year anniversary of the transition from the Morgan to Peace dollar in order to "commemorate this significant evolution of American Freedom". [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. Before we can talk about the most valuable Morgan silver dollars, we wanted to give you a bit more insight into the production of these coins. This article is about the United States dollar coin. Essentially, its the centennial of the transition between minting two of the most famous coins issued by the United States Mint. The coinage was short-lived, lasting only through 1935. Below are some general guidelines to help you determine the value of your Morgan dollar. The 1891-O Morgan dollar coin was made at the New Orleans Mint. GovMint.com is a brand of Asset Marketing Services, LLC (AMS). 1889 CC Morgan Silver Dollar - $280,000 4.) Silver mining in the United States, mainly the Comstock Lode (1859), is the catalyst that gave silver dollar coinage its heyday. Morgan dollar CC mint mark. Heralded as best and most beautiful of all the Silver Dollar designs, the Morgan Silver Dollar was immediately embraced by U.S. citizens when it debuted in 1878. A fracture in the die used to strike these coins left a prominent raised line on Lady Liberty's cheek. From 1971-1974, the new dollar was minted with two different compositions: one for collectors, as an alloy of 800 parts of silver and 200 parts of copper, at the San Francisco Mint; the other for circulation (75% copper and 25% nickel), at the Philadelphia, Denver, and San Francisco Mints. William B. Allison added amendments to the bill in the Senate, A pattern half dollar created by George T. Morgan, A pattern for the standard silver dollar created by William Barber, Sherman Silver Purchase Act, Panic of 1893, San Francisco commemorative dollar reverse, removed them from circulation through hoarding, San Francisco Museum and Historical Society, "United States Mint Branch at Carson City, Nevada", "San Francisco Old Mint Commemorative Coin Act, Pub. The Louisiana facility made 4.9 million Morgan coins that year. Prices start at $95 for a coin in very good, circulated condition (VG-8) and go up to $6,000 for a coin in mint condition that has never been circulated. The model for Liberty is believed to be Philadelphia schoolteacher Anna Willess Williams, who had sat for Morgan on several occasions. The Morgan Silver Dollar is one of the most famous and most highly collected U.S. coins of all time. The majority of Morgan Dollars found today can be linked to one of four major hoards. The Bland-Allison Act re-authorized the standard silver dollar to the weight and fineness as stated in the Act of January 18, 1837 (26.73 grams; .900 silver, .100 copper). By 1890, a total of 360 million silver dollars had been produced, of which only one-sixth was estimated to have been released into circulation. When demand and silver bullion supplies dropped as a result of this legislation, production of the Morgan Dollar was suspended in 1904 at all U.S. Mint facilities. By continuing to browse our site, you agree that you have read and understand our Privacy Policy. As a general rule, these coins had higher mintages. of .999 fine silver with an uncirculated finish"[42] Morgan Dollars were made available for purchase in May 2021, and sold out on the U.S. Mint website in 45 minutes, and had a staggered order window based on the different mint marks. In 1894, the California facility produced 1.26 million Morgan dollars in total. [6] One such bill introduced into the House by Democratic Representative Richard P. Bland of Missouri was passed in the fall of 1876. [17] The New Orleans Mint began striking the new silver dollars in 1879. L. no. Pursuant to the act, Morgan dollars resumed mintage for one year in 1921. That makes them less expensive than their counterparts from other mints. That year also saw the introduction of the Peace dollar. ADD TO CART *Prices will automatically update every minute Silver Price: $25.79 0.04 Fast Delivery Discreet Packaging Today, the Morgan Silver Dollar is one of the most colorful and treasured relics of Americas western frontier, and an inspirational coin that collectors are drawn to because of their historical significance. The Morgan Dollar was created in 1877 by George Morgan, an English-born assistant engraver, who eventually became the 7th Chief Engraver of the U.S. Mint. Linderman also ordered Pollock to "instruct Mr. Barber to prepare a reverse die for a dollar with a representation of an eagle as well as the inscriptions required by law. Bookmark this page (Ctrl+D) and come back to get the current melt value for this coin. The law required the U.S. government to buy $4 million of silver every month from miners in the American West. 1 2 3 4 5 It was passed in Congress in February of 1878. [34] Treasury officials decided to hold them back because the total number of coins minted at the Carson City mint were generally lower than others. Collectors are drawn to the large size, classic design, and relatively robust availability. 1921 $1 Silver Morgan & 1957 $1 Silver Certificate 2-pc Set XF & VF, 1878-P Morgan Silver Dollar 7-Tail Feathers XF, 1884-O Morgan Silver Dollar PCGS/NGC MS63, 1921-1922 Morgan Silver Dollar and Peace Dollar Set - 2PC, 2021(P) Morgan Silver Dollar BU w/O Privy Mark, 1887-P $1 Railroad Silver Dollar XF w/Railroad Stock Certificate, 18831885-O Morgan Silver Dollars 3-pc Set PCGS MS63 w/$5 State of Louisiana Baby Bond, 18921921 50 & $1 George T. Morgan 2-pc Set, 1881-S Wyatt Earp Morgan Silver Dollar BU, 1878-P Morgan Silver Dollar 8 Tail Feathers XF, 1883-O Morgan Silver Dollar w/18701880 $5 State of Louisiana Baby Bond. You won't find a "P" anywhere on the coin. The Nevada facility made 2.3 million coins that year. These coins were minted from 1878-1904 and then in 1921. The coin has since been dubbed the "Morgan" dollar as an homage to the coin's celebrated designer, George T. Morgan. Bag marks are caused from the coins coming into contact with each other. Non-proof varieties are accounted for in annual mintage totals. As a result, U.S. coins disappeared almost as fast as they were minted. [36] The legislation also stated that all proceeds from the sale were to be "covered into the Treasury as miscellaneous receipts. As a result, in 1873, the Coinage Act stopped the production of silver coins in the United States. Prices for an 1897-O Morgan dollar start at $29 for a coin in very good, circulated condition (VG-8) and go up to $56,000 for a coin in mint condition that has never been circulated, with a high-quality silver luster (MS-65). The 1901-p Morgan silver dollar has a list price of $40 in fine condition, which is consistent with the other coins. Actual market prices will vary slightly when you sell your coins. Supply and demand moves all markets, and with the Morgan Dollar, availability and demand drives pricing. The Comstock Lode, a massive silver discovery in 1859, flooded the U.S. market with silver and caused the value of silver coins to drop. No special congressional authority was required for the modification in design, since the law permits changing the design of any U.S. coins after 25 years. [21], Beginning early in 1893, a number of industrial firms, including the Philadelphia and Reading Railroad and the National Cordage Company went bankrupt. Some of them have earned fascinating nicknames. The mint mark, if present, appears on the reverse above between D and O in "Dollar". When you buy Morgan Dollars at GovMint.com you can rest assured that you are buying authentic United States coinage. [35] In total, the sales generated $107million in revenue. This massive melt had a significant impact on the rarity and availability of certain issues of the Morgan Dollar series. Individuals began purchasing large quantities of the pieces at face value and then removed them from circulation through hoarding, and eventually the Treasury ceased exchanging silver certificates for silver coin. The 2021 Morgan Dollar is part of the Morgan and Peace Dollar Anniversary Coin Program. Her lips, nose and chin all show a doubling effect, which is why the coins nickname is Hot Lips. A mint, uncirculated version of the double-die Morgan dollar is worth $22,441. "[12], Production of the coins did not commence until March11, more than a week after the passage of the BlandAllison Act. Buying authentic United States dollar coin and industrial development in the world was short-lived, lasting only through 1935 Mint! The country & # x27 ; s westward expansion and industrial development in the used. 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