$1 Morgan MS63 Certified (Dates/Types Vary)
| The Morgan Dollar holds a special place in the hearts of coin enthusiasts. Its substantial size — almost as large as an adult's palm — sets it apart as one of the most recognizable coins in U.S. coin collecting. This notable diameter of 1.5 inches was influenced by the vast amounts of silver being mined in Nevada at the time. The Comstock Lode, particularly prolific, produced an excess of silver that threatened the local economy due to oversupply. The federal government, propelled by the persistent efforts of lobbyists, intervened after numerous attempts. Championed by Missouri Congressman Richard "Silver Dick" Bland, the passage of the Bland-Allison Act in 1878 finally authorized the minting of a new silver dollar. The legislation mandated the Treasury to buy two to four million troy ounces of silver monthly to mint into dollars, significantly subsidizing the silver's value, which surpassed the coin's nominal value by almost 10%. The coin was designed by George T. Morgan, an engraver at the Mint. The front displays Lady Liberty’s portrait, while the back features a relatively lean eagle, earning the coin the nickname "buzzard dollar." Morgan's initial "M" marks both sides — at the base of Lady Liberty's neck and the reverse's ribbon loop. Mintmarks are below the wreath on the reverse. The very first Morgan Dollar was minted on March 11, 1878, less than two weeks after the coin’s authorization. Production ceased in 1904 but resumed briefly in 1921 before ending again. Notably, over 270 million Morgan Dollars were melted in 1918 to aid Great Britain financially, with more coins melted in subsequent years. The same law that mandated the melting also required these coins to be replaced, leading to the 1921 reissue of the Morgan Dollar. New dies had to be created as the original ones were no longer available, resulting in slight differences in the coin's appearance. In 1921, the mints in Philadelphia, Denver, and San Francisco produced these coins in record numbers. Initially overlooked until the 1960s, the Morgan Dollar has since become one of the most sought-after U.S. coins. While some collectors aim to acquire a full set of dates and mint marks in Mint State, others focus on collecting one coin per year. The series is particularly appealing to type collectors looking for exceptional pieces. The Morgan Dollar is a classic staple among American coin collections, appealing to a wide range of collectors. Beginners might consider starting with an 1878 coin, choosing specific mint marks, and gradually expanding their collection by adding different dates, looking out for unique errors and variations. |
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