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Complete Guide to Collecting Morgan Silver Dollars
The Morgan Silver Dollar is one of the most iconic U.S. coins, known for its striking design and historical significance. This guide covers everything you need to know about collecting Morgan Dollars, including its history, grading, buying tips, and best storage practices to help you build your collection.
Table of Contents
What Are Morgan Silver Dollars?
How Many Morgan Dollars Are Left?
Key Features and Designs of Morgan Silver Dollars
What Mints Produced the Morgan Silver Dollar?
What Is the Composition of the Morgan Silver Dollar?
What Is the Difference Between a Morgan Silver Dollar and a Regular Silver Dollar?
Popular Morgan Silver Dollar Coins
Common Date Morgan Silver Dollars
Modern 99.9% Fine Morgan Series
How to Collect Morgan Silver Dollar Coins: Tips for Beginners
How to Store & Handle Your Morgan Dollars
How to Organize Your Morgan Dollar Coins
Where to Buy Morgan Silver Dollar Coins & Supplies
Start Your Morgan Silver Dollar Coin Collection with GOVMINT
What Are Morgan Silver Dollars?
The Morgan Silver Dollar is an American silver coin minted from 1878 to 1904 and again in 1921. Named after and designed by George T. Morgan, the coin holds a face value of $1. At the time it was minted, over 650 million coins were struck, and the coins were replaced by the Peace Dollar in 1921. Today, Morgan Dollars remain highly collectible for their historical significance, beautiful design, and high collector appeal.
How Many Morgan Dollars Are Left?
It’s difficult to determine exactly how many Morgan Dollars still exist, as many have been lost or melted down over time. In 1918, the government passed the Pittman Act, which authorized the melting of nearly half, or 270 million, Morgan Dollars to acquire silver bullion to replenish silver reserves and help pay off war debts. Despite this massive reduction, around 150 million Morgan Silver Dollars avoided being melted down, come because they were stored in U.S. Treasury vaults before their release in the 1960s, preserving many in near-mint condition. Due to the ravages of time and the Pittman Act, it is estimated that 15% of Morgans exist today.
Key Features and Designs of Morgan Silver Dollars
The Morgan Silver Dollar features a detailed and symbolic design of Lady Liberty on the obverse side of the coin, inspired by Philadelphia schoolteacher Anna Willess Williams. She is depicted in a left-facing profile wearing a Phrygian cap adorned with wheat and cotton to represent unity between the North and South.
The reverse showcases a bald eagle with outstretched wings, clutching arrows, and an olive branch, symbolizing both strength and peace, surrounded by a wreath and the motto “In God We Trust.” This coin also weighs 26.73 grams and has a diameter of 38.1 mm, making it one of the largest and most recognizable silver coins in U.S. history.
What Mints Produced the Morgan Silver Dollar?
Morgan Silver Dollars were minted at five U.S. Mint facilities, each identifiable by a unique mintmark—small letters or symbols indicating where it was struck:
- Philadelphia Mint (No Mintmark) – Minted 1878–1904, 1921; still in operation.
- San Francisco Mint (S Mintmark) – Minted 1878–1904, 1921; still in operation.
- New Orleans Mint (O Mintmark) – Minted 1879–1904; closed in 1911 (although it stopped minting coins in 1909) due to the Philadelphia, San Francisco, and Denver mints expanding their minting capabilities and quantities. The New Orleans Mint was later repurposed as an assay office.
- Carson City Mint (CC Mintmark) – Minted 1878–1885, 1889–1893; closed in 1893 after silver mining in Nevada declined, reducing the need for a local mint.
- Denver Mint (D Mintmark) – Minted only in 1921; still in operation.
What Is the Composition of the Morgan Silver Dollar?
The Morgan Silver Dollar is composed of 90% silver and 10% copper, with a total silver content of 0.7734 troy ounces per coin. Because silver is a soft metal, the addition of copper hardens it, enhancing its durability. This alloy helps prevent bending or excessive wear, such as scratches, while in circulation, ensuring both lasting appeal and long-term preservation.
What Is the Difference Between a Morgan Silver Dollar and a Regular Silver Dollar?
Although they may sound or even look the same, Morgan Silver Dollar coins, Peace dollars, and modern silver coins are all different. The Morgan Silver Dollar (1878–1904, 1921), renowned for its iconic Lady Liberty and eagle designs, was replaced by the Peace Dollar (1921–1935), which commemorated the end of World War I. This silver coin example features a more modern Liberty with a radiating crown on the obverse and a resting eagle on the reverse. Peace Dollars have the same 90% silver composition as Morgans but with a different design that celebrates the end of World War I.
In contrast, modern silver dollars, such as the American Silver Eagle (1986–present), are struck in .999 fine silver (99.9%), with an obverse inspired by the Walking Liberty design and a reverse featuring an eagle (updated in 2021). Unlike Morgan and Peace Dollars, which were once struck with the intention of circulating, Silver Eagles are not issued into circulation and today are prized as bullion coins for their precious metal content or as collectible coins.
Popular Morgan Silver Dollar Coins
What are the best Morgan Silver Dollars for beginner coin collectors? Some of the most popular and accessible options are those with high mintage numbers. These include Morgan Dollars minted at the San Francisco Mint (1881–1882) and the New Orleans Mint (1883–1885). Additionally, first-year (1878) and last-year (1921) issues are widely collected and readily available, making them excellent choices for those just starting their collections.
Common Date Morgan Silver Dollars
For beginners looking to collect Morgan Silver Dollars, several common-date coins are widely available in higher grades and remain affordable due to their high mintage numbers.
Some examples include:
- San Francisco Mint (1881-S and 1882-S): Known for their sharp strikes and excellent luster.
- New Orleans Mint (1883-O, 1884-O, 1885-O): Abundant and often found in Mint State (MS) condition.
These coins offer a great starting point for new collectors while offering a glimpse into the rich history and beauty of the Morgan Dollar series.
1921 Morgan Silver Dollar
The 1921 Morgan Silver Dollar is considered a key date for the series as it marks the final year of the series before being replaced by the Peace Dollar. Produced in significant quantities at the Philadelphia, San Francisco, and Denver Mints, it is one of the most abundant Morgan Dollars, making it an accessible and affordable option for beginners. Due to its high mintage, the 1921 Morgan Dollar is readily available in both circulated and uncirculated conditions.
1878 Morgan Silver Dollar
The 1878 Morgan Silver Dollar is another highly sought-after coin as it is the first year of issue, making it a key date in the series. Like its 1921 counterpart, it was minted in large quantities. The 1878 Morgan also features unique design variations, including differences in the number of eagle tail feathers, adding to its appeal.
Modern 99.9% Fine Morgan Series
In 2021, the United States Mitn celebrated the 100th anniversary of the last Morgan Silver Dollar minted with a 2021 release that saw that historic Morgan design struck in 99.9% fine silver versus 90% like the vintage issue.
While they do not circulate (nor are they intended for circulation), they are recognized as Morgan Dollars. Two versions from 2021 also feature privy marks (“CC” and “O”), honoring the historical Carson City and New Orleans Mints. The series was skipped in 2022 but has been steady since then, making it a noteworthy addition for interested collectors.
How to Collect Morgan Silver Dollar Coins: Tips for Beginners
Collecting Morgan Silver Dollars can be rewarding, but beginners should follow crucial steps to build a quality collection, such as buying from reputable sources, using proper storage to preserve condition, and learning to spot counterfeits. The following sections will explore these essential aspects in more detail.
How to Store & Handle Your Morgan Dollars
Proper storage and handling help protect the condition and value of Morgan Silver Dollars. Collectors should store coins in coin albums, individual sleeves, or professional-grade holders to prevent scratches and oxidation. When handling, always hold the coin by its edges to avoid fingerprints or surface damage. It’s also best to wash hands (or wear clean cotton gloves) before handling coins and store them in a cool, dry place, away from moisture and direct sunlight, to prevent tarnishing or discoloration.
How to Organize Your Morgan Dollar Coins
Collectors can organize coins by year, mint mark, or condition. A date-by-date set helps track every issue from 1878 to 1921, while a mint mark collection focuses on different U.S. Mint locations. Using labeled coin albums or digital tracking tools can help maintain a well-documented and easily accessible collection.
Where to Buy Morgan Silver Dollar Coins & Supplies
Morgan Silver Dollars are available at authorized coin dealers, auctions, coin shows, and online marketplaces. To ensure the coins you buy are authentic, it's best to buy from reputable sellers such as GOVMINT, which offers genuine collectible Morgan Dollars.
Local coin shops and major numismatic conventions are also great places to find authentic pieces and network with other collectors. When buying online, always check for seller reviews, return policies, and authentication guarantees before purchasing.
How to Spot Counterfeit Coins
Avoiding counterfeit Morgan Silver Dollars requires careful inspection and knowledge of key features. Genuine coins should have sharp details, consistent reeding along the edge, and the correct weight (26.73 grams).
Be cautious of coins that look too perfect, have weak design elements, or appear overly shiny. If a deal seems too good to be true, it likely is. Using tools like a magnet test (Morgan Dollars are not magnetic) or consulting a trusted coin dealer can help verify authenticity before purchasing.
Start Your Morgan Silver Dollar Coin Collection with GOVMINT
If you’re ready to build your own Morgan Silver Dollar collection, start by shopping at GOVMINT. We sell authentic, competitively-priced Morgan Silver Dollars, coin-collecting supplies, and other collectible gold and silver coins.
References:
https://northgeorgialiving.com/the-morgan-silver-dollar/
https://www.money.org/money-museum/virtual-exhibits-hom-morgandollars/
https://en.numista.com/catalogue/pieces1492.html
https://morgandollars.net/morgan-dollar-mintage/
https://www.money.org/the-new-orleans-mint/
https://visitcarsoncity.com/nevadas-historic-capital/nevada-history/the-carson-city-mint/
https://en.numista.com/catalogue/pieces5580.html
https://www.govmint.com/coin-authority/post/are-all-morgan-dollars-silver
https://en.numista.com/catalogue/pieces1493.html
https://coinweek.com/morgan-dollar-1878-1921-a-collectors-guide/
https://en.numista.com/catalogue/pieces287017.html
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