The inception of the Morgan Dollar took place on March 11, 1878, at 3:17 pm on Philadelphia’s Press #4, marking the beginning of a new era in American coinage. This first coin, now housed at the Rutherford B. Hayes Presidential Library and Museums, was made of 90% silver and 10% copper, establishing the standard metallic content for subsequent Morgan Dollars.
Historical Context
The authorization of the Morgan Dollar by Congress came less than two weeks after the legislation that rendered the previous American dollar coin obsolete. The introduction of the Morgan Dollar was met with mixed reactions from the public, with some viewing it as a departure from the traditional American coinage.
Design and Production
Designed by United States Mint Assistant Engraver George T. Morgan, the Morgan Dollar featured a distinctive profile portrait of Liberty on the obverse and an eagle clutching an olive branch and arrows on the reverse. Most of the coins were minted in Philadelphia until 1921, with additional coins struck in Carson City, San Francisco, New Orleans, and Denver, each bearing their respective mint marks.
Rarity and Collectibility
Coins minted in Carson City are particularly rare and sought after by collectors, marked with a ‘CC’ designation. Despite its initial lackluster reception, the Morgan Dollar gained popularity over time and eventually became a highly esteemed American coin. The halt of production in 1921 paved the way for the Peace Dollar to take its place, solidifying the Morgan Dollar’s status as a numismatic treasure.
Additional Insight: The Morgan Dollar carries a rich history and is prized for its unique design and historical significance. Its transition from an underappreciated coin to a coveted collectible adds to its allure among numismatists and coin enthusiasts.
Features of the Morgan Dollar:
- Minted in the year 1884
- US – Carson City Mint
- MS66 Graded by NGC
- Miles Standish Signature Label
- Each coin is 26.73 grams (.859 troy ounces) in weight
- Each coin comprises 0.77344 troy ounces of silver