Product Details: Morgan Silver Dollar MS63 NGC Random Year 1878-1904
The iconic American Morgan Silver Dollar, minted by the U.S. Government from 1878 to 1904 and briefly revived in 1921, holds a revered place in the world of silver coinage. A cornerstone for any silver collection, this coin bears historical significance and timeless appeal.
Key Features of this Coin:
- Contains 0.7734 ounces of 90% silver
- Graded as “MS63” by the Numismatic Guaranty Corporation
- 1$ Face Value
- Total Mintage of 86,730,000 Coins
- Obverse: Features the Latin phrase “E Pluribus Unum” above the Morgan design, with the date below
- Reverse: Depicts an eagle holding an olive branch and arrows, with the face value below. Inscriptions include “In God We Trust” and “United States of America.”
Insights into American Silver Dollars:
During the period from the 1870s to the 1920s, the U.S. federal government produced a surplus of Silver Dollars, driven by lobbying efforts from powerful Nevada mining interests. Legislation mandated the purchase of substantial silver quantities, leading to the creation of Morgan Silver Dollars, which accumulated in vaults, awaiting circulation by banks.
Due to this surplus, Silver Dollar production ceased in 1904. Nevertheless, the Pittman Act of 1918 compelled the purchase of additional silver, prompting a final striking of the Morgan Dollar in 1921. Minted at three U.S. Mint facilities—Philadelphia, Denver, and San Francisco—this 1921 issue faced a prolonged absorption period into mainstream circulation.
Contrary to a common misconception, 1921 Morgans are not as prevalent as their 1878-1904 counterparts. Despite this, the false perception persists, contributing to the fact that pre-1921 Morgans command a significantly higher premium in the market. This anomaly positions the 1921 coins as an excellent investment opportunity, offering collectors and investors a chance to acquire a piece of American history at an advantageous value.
MS63 Morgan Dollars are not only high quality investment pieces, but they are also a true piece of history. Most of the originally minted Morgan dollars have been lost, melted down as scrap, or are in poor condition from “bag marks” during transport.