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Owen Nelson
Owen Nelson

Where Can I Buy Morgan Silver Dollars ##BEST##

Nearly two decades later, the Pittman Act was passed in 1918 as a solution to the huge amounts of unused silver dollars in American banks. The Treasury had to melt down 270 million Morgan Dollars, allowing time for demand of the coins to rise. In 1921, the U.S. Mint used the silver bullion supply from the Pittman Act to create a new series of Morgan Silver Dollars. It was the final year that these beautiful coins were minted, and it represents the majority of coins available for collection today. Later that year, the Peace Silver Dollar took its place.

where can i buy morgan silver dollars


There are few relics, like the Morgan Silver Dollar, that show us a glimpse into our past as an evolving country. The Morgan Silver Dollar was successfully minted from 1878 to 1904 and again for one more year in 1921. Throughout its 27 years of production, two famous mints closed their doors, three bills were passed to approve the minting of silver dollars, and the Denver Mint was established and currently stands as the world leader of coin production. The Morgan Silver Dollar has a fineness of .900, and weighs a total silver content of 0.77344 troy ounces per coin. After 130 years of being minted, the Morgan Silver Dollar is still among the most popular coins sold in the country and is also advised as a smart investment, due to its low mintage averages and 90% silver content.

Caches of Morgan Dollars produced at the Carson City Mint were discovered and were sold to coin collectors by the federal government in the early 1970s. Many of these dollars were uncirculated and are called GSAs (named after the General Services Administration) and come in black plastic holders that mimic the holders used for proof silver Eisenhower dollars of the period. These have become collectible items within the GSA encapsulation.

The Morgan Silver Dollar is what one thinks of when referring to the old silver dollars. Replacing the Seated Liberty Dollar, the Morgan offered a fresh perspective on the traditional design of the US coin. Ever since the Mint Act of 1792, the US Mint was required to feature an emblematic symbol of Liberty on all of its coins. This bill resulted in an overuse of Lady Liberty's portrait, with the US Bald Eagle at a close second. On the Morgan Silver Dollar's obverse, Lady Liberty's full body is not pictured, which wasn't the norm for her design. Instead, Lady Liberty's lovely face and delicate features became the highlight of the coin's portrait. Lady Liberty came to life through this design and is quite a memorable one at that. The Morgan Silver Dollar's legacy lives on today, representing a past that is the foundation of this nation.The Man Behind the CoinGeorge T. Morgan was an English immigrant when given the chance to work directly under William Barber, at the US Mint. Morgan's continuous education and dedication to die engraving literally unleashed a whole new world from what he was used to. Although he was only the Assistant Engraver, Morgan's talent could not be ignored and so he was assigned the daunting task of designing the new dollar. It wouldn't be until 40 years later that George T. Morgan would become the 7th Chief Engraver of the US Mint. Throughout his time at the mint, Morgan designed other coin collections but all fail in comparison to the timeless Morgan Silver Dollar.

The Bland-Allison Act was written by Representative Richard P. Bland with amendments made to it by Senator William B. Allison. It was passed in Congress in February of 1878. This act restored silver as legal-tender. It also included verbiage stating that the government would mint 2 million silver dollars per month, leading to the origin of the Morgan Silver Dollar.

The majority of Morgan Dollars found today can be linked to one of four major hoards. These hoards are known as the Treasury Hoard, the Redfield Hoard, the Continental Bank Hoard and the Casino Hoards. Morgans in these hoards were generally kept in bags, hence the "bag marks" you will find on Morgans today. Bag marks are caused from the coins coming into contact with each other. In total, the number of coins that have survived to this day are small. One leading authentication service estimates that they have seen 1.4 million of these historic silver dollars. The actual number may be greater than this, but in comparison with the number minted, that figure is staggering.

Finding Morgan silver dollars for sale from a source you can trust can sometimes be a challenge. With several simple ways to order, along with our expertise and unparalleled customer service, we aim to make coin collecting easy. At Littleton Coin, you can buy Morgan silver dollars with confidence, knowing every item has been closely inspected to ensure it meets our strict quality standards. Browse our selection below to add a special piece of American history to your collection.

First-year Morgan dollars have an extra measure of interest and historical significance. Five years before the first Morgan silver dollars were struck, the Mint Act of February 1873 had stopped producing circulating Liberty Seated silver dollars in favor of gold dollars and silver Trade dollars primarily used in foreign trade. Silver dollars made up less than one percent of circulating silver, so most people weren't affected.

To celebrate the centennial anniversary of the last Morgan silver dollars being struck, special 100th Anniversary Morgan dollars were struck in 2021 at the Denver, San Francisco and Philadelphia Mints. Unlike classic 90% silver Morgans, the new Morgan dollars were minted in 99.9% pure silver, with some coins bearing special privy marks for New Orleans ("O") and Carson City ("CC").

After World War I, the Pittman Act of 1918 authorized the melting of millions of previously minted silver dollars (primarily Morgan Dollars). However, the Act also required silver to be purchased in order to manufacture new silver coins to replace the melted ones.

In 1971, the Mint produced Eisenhower copper-clad and silver-clad dollars. This coin marked the first time a portrait of a U.S. president was authorized to appear on a circulating dollar coin. It was also the first circulating silver dollar coin minted since 1935.

Assembling a collection of Morgan silver dollars can be a rewarding experience and can be a great investment and hobby. However, going about it the wrong way can cost you hundreds or even thousands of dollars.

We recommend that you take an objective approach to buying Morgan silver dollars and ignore the hype. Is the coin really a better date coin? Will it receive a straight grade from a third-party grading service or has it been altered? Is it a coin that is frequently counterfeited?

Other than the 2021 Modern Commemorative 100th anniversary Morgan silver dollar, no Morgan dollar has been graded a perfect 70.Only a handful of original Morgan silver dollars have received an MS69 grade, which makes them extremely valuable.

An estimated 270 million Morgan silver dollars were melted down following the passage of The Pittman Act of 1918. The large number of coins melted down has made the survival rate of many of the coins unknown.

The most valuable and lowest minted Philadelphia-issued coin is from 1895. Only 880 of these coins were produced making them the rarest and most valuable Morgan silver dollar. Other lower mintage Morgan dollars from Philadelphia are from 1894, 1895 and 1899.

However, there are some exceptions. For example, we always recommend having an 1895 Morgan silver dollar certified (no mint mark), as this is the most valuable of the Morgan silver dollars and is frequently counterfeited. Only 880 of these coins are known to exist, making them a rarity.

In the years that followed, other bills would be approved and repealed in order to try to control the fluctuating silver prices and the inflation that arose, deepening the country in an economic crisis. In 1918, the Pittman Act ordered all leftover silver reserves to be melted down and recoined into silver dollars. The Morgan Silver Dollar would return one last time in 1921 before the Peace Silver Dollar replaced it.

Powerful Silver Lobby and the Bland-Allison ActIn 1873, to make room for Trade and gold dollars, the last Seated Liberty dollar was legislated out of existence. Needless to say, this infuriated the newly enriched silver miners, and they quickly went to work lobbying Congress for the creation of another silver dollar coin. Their efforts were successful and in 1878 Congress passed the Bland-Allison act requiring the Treasury department to purchase silver bullion at the market price in amounts of not less than $2,000,000 and not more than $4,000,000 each month.

Although Morgan silver dollars were minted in large quantities, very few survived the ravages of time and the melting pot. As result of the Pittman Act of 1918, nearly 270 million Morgan dollars were melted down into silver bars for export, and further melting occurred in the 1980s when silver prices skyrocketed. And only a tiny fraction of those survivors remain in near-gem Mint State 64 grade.

In 1970, Congress authorized the General Services Administration to sell the hoard of silver dollars to the public. Officials devised a mail bid system, with minimum prices for each dollar established, and limits placed on the quantity any bidder could buy. The proceeds from the sales, in excess of expenses, would go into the national treasury.

With the categories established, final tallies were taken for each, and handsome plastic slabs were manufactured for the coins in the top three tiers, with the remainder being placed in thin, flexible Mylar plastic sleeves, encased in blue envelopes. The more stylish plastic slabs, some with the word UNCIRCULATED on them and some without the word, were placed in black boxes lined with a light-blue velvet-like material and personalized with a message from President Nixon. Cards inscribed with a brief synopsis of how the silver dollars were made of Comstock bullion, minted in Carson City (if appropriate), and preserved and sold by the U.S. government completed the package. 041b061a72


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