The Sought After Morgan Silver Dollar

Morgan Silver Dollar pic
Morgan Silver Dollar
Image: americanmint.com

American Mint is a Pennsylvania-based company that offers collectible coins, medals, Bowie knives, die-cast models, and other collectibles. Many of the pieces celebrate the legacy of historical figures, from Queen Elizabeth II to John F. Kennedy. The American Mint also offers rare and historical coins such as the Morgan Silver Dollar, which was produced from 1878 to 1921 and is sought after, as the large majority were melted for the value of the metal.

The Morgan came about following a major softening in the price of silver in the 1870s, which brought out old hoarded coins now worth more at face value. Congress felt pressure to prop up struggling silver mines and passed a law requiring the government to purchase between $2 to $4 million worth of silver each month for production of a new series of coins.

Reflecting the low prices of silver, the Morgan dollars were larger and heavier than their predecessors. In an interesting turn of events, many old issue Morgans were melted by the government in 1921 for production of that year’s Morgan issue. This resulted in a real scarcity for those coins produced during the early years of the run.