Morgan Dollar (1878 to 1921)
Laureate head left, date below flanked by stars
Eagle within 1/2 wreath
The coinage law of 1873 made no provision for the standard silver dollar. During the lapse in coinage of the denomination, the gold dollar became the unit coin, and the trade dollar was used for commercial transactions with the orient.
Resumption of coinage of the silver dollar was authorized by the act of February 28, 1878, known as the Bland-Allison Act. The weight (412-1/2 grains) and fineness (0.900) were to conform with the Act of January 18, 1837.
George T. Morgan, formerly a pupil of William Wyon in the Royal Mint in London, designed the new dollar. His initial M is found at the truncation of the neck, at the last tress. It also appears on the reverse on the left-hand loop of the ribbon.
Coinage of the silver dollar was suspended after 1904, when demand was low and the bullion supply became exhausted. Under provisions of the Pittman Act of 1918, 270,232,722 silver dollars were melted, and later, in 1921, coinage of the silver dollar was resumed. The Morgan design, with some slight refinements, was employed until the new Peace design was adopted later in that year.
Sharply struck, proof like coins have highly reflective surfaces and are very scarce, usually commanding substantial premiums.
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Designer; George T. Morgan
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Weight; 26.73 gm.
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Composition; 0.900 silver, 0.100 copper (net weight 0.77344 oz. pure silver)
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Diameter; 38.1 mm
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Edge; Reeded
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Mints; Philadelphia, New Orleans, Carson City, Denver, and San Francisco.
VF-20 VERY FINE --- Two thirds of hair lines from top of forehead to ear visible. Ear well defined. Feathers on eagle's breast worn.
EF-40 EXTREMELY FINE --- All hair lines strong and ear bold. Eagle's feathers all plain but with slight wear on breast and wing tips.
AU-50 ABOUT UNCIRCULATED --- Slight traces of wear on the bust shoulder and hair left of forehead, and on eagle's breast and top edges of wings.
MS-60 UNCIRCULATED --- No trace of wear. Full mint luster present, but may be noticeably marred by scuff narks or bag abrasions.
MS-63 CHOICE UNCIRCULATED --- No trace of wear. Full mint luster, few noticeable surface marks.
MS-64 UNCIRCULATED --- A few scattered contact marks. Good eye appeal and attractive luster.
MS-65 GEM UNCIRCULATED --- Only light, scattered contact marks that are not distracting. Strong luster, good eye appeal.
PF-63 CHOICE PROOF --- Reflective surfaces with only a few blemishes in secondary focal places. No major flaws.
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