1878 Morgan Silver Dollars

 

1878 Morgn Dollar
 
    The Morgan Silver Dollar can trace its origin to the Fourth Coinage Act. In 1873 Congress demonetized silver, ending production of the silver dollar. This continued until the Bland-Allison Act of 1878. The act required the U.S. Treasury purchase a few million dollars of silver to be minted and circulated as silver dollars each month.
 
    The man selected to design the dies for these new silver dollars was George Morgan. Morgan’s design consisted of an eagle on one half and a Liberty Head on the other, with the appropriate inscriptions as specified by law. Production of the Morgan Dollar began in March of 1878 in the Philadelphia Mint, followed shortly by the San Francisco and Carson City mints. Silver dollars minted in San Francisco contained the mint mark “s”, in Carson City “cc”, Philadelphia coins had none.

    For numismatists the value of the Morgan Dollar is tied to rarity and condition. Abundant silver dollars of average quality are typically worth the melt value, calculated from the coin’s silver percentage and the spot price of silver. A rare uncirculated coin may approach 80-100 dollars, while a rare mint state (MS) coin may reach values of fifteen-hundred dollars or more.