![]() ![]() ![]() And, until 1964, individuals were allowed to exchange paper notes called silver certificates for the silver dollars. These coins, minted in Carson City many years before, were made available to the general public in the mid-60’s. Over 2.8 million Morgan Silver Dollars were inadvertently left in a vault. Rather than going out and buying silver, they would use the silver from their silver dollars. Individuals might also need silver for practical purposes from time to time. If someone needed some extra money, they might file off or melt down a bit of a Morgan dollar and sell it. The coins were actually more valuable for their 90% pure silver content than they wore as $1 coins. There were a lot of reasons to melt silver dollars at that time. More coins were lost when individuals melted them. interests during World War I accounts for a large percentage of them. The melting-down and sale of the dollars to support U.K. Where Did All the Morgan’s Go?Īt this point in time, experts estimate that less than one-fifth of all Morgan Silver Dollars still survive. The Act required that the coins that were melted down during WWI be replaced coin for coin. The 1921 minting of the Morgan Silver Dollars was done as a part of the Pittman Act. Why Were the Dollars Minted Again in 1921 for One Last Year? ally, no more Morgan dollars were minted at that time. Because the silver was needed to help the U.S. ![]() Most of the resulting silver bullion was sold to the U.K. offered financial relief by melting over 270 million of the Morgan dollars for their silver. What followed was a massive run on Britain’s silver reserves. currency by suggesting that it couldn’t be exchanged for silver. Why Did Minting Stop in 1904?ĭuring World War I, the German government discredited U.K. Minting continued throughout these years, and over the whole course of the minting between 18, about 657 million Morgan Dollars were produced. coins depicted the eagle with an odd number of tail feathers. So, in 1878, the dies were changed so that the eagle on the reverse of the coin was given seven tail feathers. The first year after starting production of the Morgan dollar, Linderman requested a change. Minting of the Morgan dollar continued from that first striking in 1878 until 1904, a total of 26 years. The Secretary of the Treasury, John Sherman, received the second coin, and Linderman received the third. President at the time, Benjamin Hayes, received this first coin. Minting the First Morgan DollarĪt 3:17pm on March 11, 1878, at the Philadelphia Mint, the first Morgan Dollar was struck. The Morgan dollar was minted from 1878 to 1904, and then again in 1921 for one final year. Morgan’s design was chosen, and the coin was slated to begin minting in 1878. This reverse prompted many to call the Morgan the “buzzard dollar” due to the thinness of the eagle. On the reverse, a gaunt eagle with eight tailfeathers stands in the center, holding arrows and an olive branch. The designer’s goal was to create a Lady Liberty image that depicted an American woman rather than a Greek figure. Morgan’s obverse was the head of Lady Liberty, gazing toward the left of the coin’s face. Morgan create designs for the new silver dollar. Linderman requested that chief engraver William Barber and his assistant George T. The year before the first Morgan was struck, Mint Director Henry P. In 1878, the Bland-Allison Act was passed to prevent the Treasury from being put at jeopardy if a silver strike like the one that took place in 1858 ever happened again. dollar coin minted after the government ended free coining of silver with the Coinage Act of 1873. ![]() The Morgan Silver Dollar was the first U.S. The coin was minted for a total of 27 years. Today, both casual collectors and serious numismatists include Morgan’s in their coin collections. A large, heavy, and beautiful coin, the Morgan Silver Dollar holds a special place in the hearts of collectors. ![]()
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |