The Morgan Dollar is one of the most popular bullion coins among numismatists in the United States of America and is second only to the Lincoln cents, which top the list. Morgan Dollar coins have a rich history right from its release in 1878. Design of Morgan Silver dollar is one such part of the colorful history it has.
The price of silver drastically dropped in the 1870s. To increase the market price of silver, the US government took a decision of producing bullion coins made out of silver. This decision was taken with a view to help the mining industry and the miners who had plenty of this metal. Hence began the production of Morgan Dollar in the year 1878.
George T. Morgan, who was an Assistant Engraver for US Mint in Philadelphia, was the person to create the design of Morgan Dollar in 1877. He had come to England from USA and hence he didn't know much about the bald eagle. The bald eagle was an emblem of United States of America and hence he decided to work on a picture of the bald eagle and Lady Liberty to add looks to the new Morgan Silver coin.
After having pursued a course to gain sufficient knowledge of the bald eagle, he planned a picture of full bald eagle for the reverse side of the coin. The image of Lady Liberty with full head was decided for the face of the coin. To add the face to Lady Liberty, he spent sufficient time looking around for the right model. Finally, Anna Williams, a school teacher was chosen for this. The design proposed by Morgan gained approval after which the minting of the coins began in 1878.
Further production was carried out on and off until 1921. Among all these production years, the coins, which were produced in 1895, is considered as the most prestigious by many numismatists. However, due to the usage of different dies during production, not all the bullion coins had the same markings.
The face value and the market value for these coins are usually different. The market value of the coin at anytime depends on the silver price at that particular time. The Morgan Silver Dollar coin had 90% of silver and remaining 10% includes other metal components like copper. When the coins were initially released in 1878, there was not much demand for it when compared to the huge demand it has now.
The reason for this lack of demand was the image of bald eagle which was portrayed on the reverse side of the coin. This picture wasn't attractive and appeared as though it lacked food. There were a few controversies in the 1960s and later the coin gained huge fame and recognition.
Currently, the morgan dollar is the second most sought after bullion coin among coin collectors in the United States of America, right after Lincoln Cents. One of the key reasons for its fame right now is the coin's rich history, which started out with the morgan silver dollar design.
The price of silver drastically dropped in the 1870s. To increase the market price of silver, the US government took a decision of producing bullion coins made out of silver. This decision was taken with a view to help the mining industry and the miners who had plenty of this metal. Hence began the production of Morgan Dollar in the year 1878.
George T. Morgan, who was an Assistant Engraver for US Mint in Philadelphia, was the person to create the design of Morgan Dollar in 1877. He had come to England from USA and hence he didn't know much about the bald eagle. The bald eagle was an emblem of United States of America and hence he decided to work on a picture of the bald eagle and Lady Liberty to add looks to the new Morgan Silver coin.
After having pursued a course to gain sufficient knowledge of the bald eagle, he planned a picture of full bald eagle for the reverse side of the coin. The image of Lady Liberty with full head was decided for the face of the coin. To add the face to Lady Liberty, he spent sufficient time looking around for the right model. Finally, Anna Williams, a school teacher was chosen for this. The design proposed by Morgan gained approval after which the minting of the coins began in 1878.
Further production was carried out on and off until 1921. Among all these production years, the coins, which were produced in 1895, is considered as the most prestigious by many numismatists. However, due to the usage of different dies during production, not all the bullion coins had the same markings.
The face value and the market value for these coins are usually different. The market value of the coin at anytime depends on the silver price at that particular time. The Morgan Silver Dollar coin had 90% of silver and remaining 10% includes other metal components like copper. When the coins were initially released in 1878, there was not much demand for it when compared to the huge demand it has now.
The reason for this lack of demand was the image of bald eagle which was portrayed on the reverse side of the coin. This picture wasn't attractive and appeared as though it lacked food. There were a few controversies in the 1960s and later the coin gained huge fame and recognition.
Currently, the morgan dollar is the second most sought after bullion coin among coin collectors in the United States of America, right after Lincoln Cents. One of the key reasons for its fame right now is the coin's rich history, which started out with the morgan silver dollar design.
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1900SilverDollar.com provides information and a collection of morgan silver dollars for sale. If you are looking for that exact coin to complete your collection like the 1881 silver dollar, we have it.
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