Morgan Silver Dollars
Morgan Silver Dollars are United States dollar coins that were minted from 1878 to1904 with an additional batch produced in 1921. The Morgan Dollar derives its name from its designer, George T. Morgan who designed both sides of the coin. Prior to 1878, the last dollar made for commercial use was the Seated Liberty Dollar of 1873.
The Morgan Silver Dollar was manufactured after the largest silver find in history was discovered in Nevada in the late 1850’s. This massive silver strike lowered the value of silver prices worldwide. To address the issue of an overabundance of silver, Congress required the Treasury Department to by large quantities of silver and turn it into coins.
The production of Morgan Silver Dollars continued until 1904 when the quantity of silver bullion was low while the amount of silver dollars in circulation was high. In 1918 over 270 million coins were melted for their silver content. More Silver Dollars were issued in 1921 for that year only. The age of the coins combined with the fact that so many of them were lost to melting increases there rarity and appeal to coin collectors.
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