Morgan Silver Dollars Are a Unique Niche in Coin Collecting9141948
The Morgan dollars are one of the most sought after collectibles. They gained significance after the great depression of 1873. As a result of serious and successful "silver" lobbying at the congress, the Morgan silver dollars were minted between 1878 and 1904 and later for a year in 1921. They were authorized by the Bland-Allison Act of 1878, where the treasury purchased silver from the market and converted them into dollars.
The rare silver dollars were designed by an Englishman, George T. Morgan. His design was chosen over that of the chief engraver William Barber's. His monograms are found on the obverse side of the coins. Morgan silver coins are crafted with Lady Liberty on the obverse side and the eagle on its reverse. Following a debate, some of the Morgan coins can be found with seven feathers while some with eight, and even some that have seven over eight feathers!
The design of the Morgan dollars is symbolic of the American strength and prosperity. Lady Liberty is shown in all radiance. The majestic eagle, spreading its wings is perched on an olive branch signifying peace. The arrows represent the military prowess.
The frenzy of Morgan silver dollars amongst collectors has steadily increased with the increase in silver prices. Combined with the historical significance, availability and sheer excitement to hoard these has driven collectors worldwide. To facilitate the collectors to understand the nuances of the Morgan silver dollars, Leroy C Van Allen and A George Mallis published the variations of these coins. Collectors can look up the VAM to track the variation and rarity of each of the coinage.
Of the lot, the rarest of the Morgan silver dollars were minted in the Carson City mint in 1889. They are more noteworthy because of their low mintage. They gained prominence during the 1950's when the government found it stashed and decided to auction these coins to collectors. As they were uncirculated, it made them rare for the type collectors. Few others that are popular include the silver dollars minted in 1893 in San Francisco mint, and the 1895 proof. The 1895 proof was the most valuable and evaluated with a PF-65 which was worth $100,000. In 1921, the Morgan coins were replaced by the Peace design.
