Morgan Dollars (1878-1904)

The Morgan Dollar, minted from 1878 to 1904 and again in 1921, is one of the most famous and widely collected American silver coins. Designed by George T. Morgan, the coin features a profile portrait of Lady Liberty on the obverse and a heraldic eagle with outstretched wings on the reverse. Its historical significance and detailed design have made it a staple in numismatic collections.

Why is the Coin Famous?

The Morgan Dollar is notable for its role in American history, particularly in the context of the late 19th-century silver boom. Named after its designer, George T. Morgan, the coin marked a departure from previous U.S. coin designs and became a symbol of American economic expansion. Its high silver content and large size also contributed to its popularity among both collectors and investors.

Who Designed the Coin and Why?

The Morgan Dollar was designed by George T. Morgan, an English-born engraver who worked for the U.S. Mint. Morgan was tasked with creating a new design that would be more reflective of American ideals. He chose to depict Lady Liberty as an American woman, modeled after Philadelphia schoolteacher Anna Willess Williams. The reverse side features a powerful eagle with outstretched wings, symbolizing strength and freedom.

Coin Specifications and Symbolism

• Weight: 26.73 grams
• Silver Content: 90% silver (0.7734 troy oz of pure silver)
• Diameter: 38.1 mm
• Thickness: 2.4 mm
• Edge: Reeded

The Morgan Dollar was minted at several U.S. Mint locations, including Philadelphia (no mint mark), New Orleans (O), San Francisco (S), Carson City (CC), and Denver (D, only in 1921). The mint mark, if present, is located on the reverse side, below the wreath.

Morgan Dollar Coin Value

The value of a Morgan Dollar can vary significantly based on its year of mintage, mint mark, and condition. Certain years and mint marks are particularly sought after:

• 1878-CC: The first year of issue from the Carson City Mint is highly collectible.
• 1889-CC: Known for its low mintage and high value, especially in higher grades.
• 1893-S: One of the rarest and most valuable Morgan Dollars due to its low mintage.
• 1895-O: Another key date with lower mintage, making it desirable among collectors.
• 1901: Philadelphia-minted coins from this year are scarce in higher grades.

In general, Morgan Dollars with lower mintages or those in exceptional condition (e.g., MS63 or higher) can command significant premiums over their melt value. Common-date coins in average circulated condition are often valued closer to their silver content.

The Morgan Dollar remains a cornerstone of American numismatics, revered for its artistry, historical significance, and the stories it tells about a formative period in U.S. history. Its value can fluctuate based on silver prices and numismatic demand, making it both an investment and a collector's treasure.

Morgan Silver Dollars Auctions