The Morgan silver dollar is a United States coin that has a rich and fascinating history. It was minted from 1878 to 1904, and then again in 1921, and was designed by George T. Morgan, who was the Chief Engraver at the United States Mint at the time.
The origins of the Morgan silver dollar can be traced back to the Coinage Act of 1873, which ended the production of the silver dollar in the United States. This act was passed in an effort to stabilize the nation's currency and move towards a more standardized system of coinage. However, the act was met with resistance from silver producers and those who believed that silver coins were necessary for everyday transactions.
In response to this pressure, the act was amended in 1878 to allow the production of the Morgan silver dollar. The coin was named after its designer, George T. Morgan, who was a British engraver who had been working at the United States Mint since 1876.
The design of the Morgan silver dollar was intended to be a modern and attractive one, and it features a profile of Lady Liberty on the obverse (front) side of the coin, with the word "Liberty" inscribed on a crown that she wears on her head. The reverse (back) side of the coin features an eagle with outstretched wings, with the words "United States of America" and "One Dollar" inscribed around the edge.
The Morgan silver dollar was struck at the United States Mint facilities in Philadelphia, Carson City, San Francisco, and New Orleans. It contains .77344 ounces of silver, making it one of the most valuable coins in circulation at the time. It was widely circulated throughout the United States and was popular with collectors and the general public.
However, the production of the Morgan silver dollar was not without controversy. The coin's design was met with criticism from some quarters, with some people claiming that it was too "busy" and difficult to read. In addition, there were concerns about the quality of the coin's production, with some examples exhibiting weak strikes and poor details.
Despite these issues, the Morgan silver dollar remained popular and continued to be minted until 1904. However, the increasing cost of silver and changes in economic conditions led to the suspension of production of the coin in that year. It was later resumed in 1921 for one year, with a modified design featuring a higher relief (more raised) image of Lady Liberty and a smaller eagle on the reverse side.
In 2021, the US mint released a special 100 year anniversary edition of the Morgan Silver Dollar.
Today, the Morgan silver dollar is highly sought after by collectors and is considered a valuable and important part of American numismatic history. It is remembered as a symbol of the American West and the expansion of the United States in the late 19th century.
In addition to its historical significance, the Morgan silver dollar is also notable for its role in popular culture. The coin has appeared in numerous films and television shows, including the classic western "The Treasure of the Sierra Madre," and has been referenced in countless books and other works of fiction.
Overall, the Morgan silver dollar is a fascinating and enduring symbol of American history and culture. It is a testament to the ingenuity and creativity of its designer, George T. Morgan, and serves as a reminder of the importance of silver in American history and the nation's economic development.