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History: Minted from 1878 to 1904 and briefly returned for one additional year in 1921, the Morgan Dollar is named after its designer, George T. Morgan. Morgan created the Liberty and eagle designs that grace the (front) obverse and (back) reverse of the coin as seen in these pictures.
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Morgan silver dollars contain 0.77344 troy ounces of the precious metal, the content being 90% pure. Multiplying the current price of an ounce of silver by 77% will give you an idea of the value of the silver in one of these coins. The relative scarcity of individual coins (how rare a particular variety is) and the condition of the coin increase the cost of the coin in the eyes of collectors or numismatists. Heavily worn coins will contain less metal than an uncirculated coin and will be less attractive to those who procure coins for collections.
The coin was minted under authorization of the Bland-Allison Act of 1878. This law reinstated the use of silver in US coins following the demonitization of silver in 1873. Large quantities of Morgan dollars were produced with the vast amount of silver which was mined in the United States in the late 19th century. A particularly attractive variety of the coin are the Carson City (CC) Morgan dollars created at the Nevada mint which was established close to location of the silver mines to facilitate minting of the coins.
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Quick Facts
Morgan dollar coins were made at the Philadelphia Mint (no mint mark)
Carson City Mint (CC), Denver Mint (D), New Orleans Mint (O) and the San Francisco Mint (S)
Many uncirculated dollars weren't released until the mid-twentieth century and became a treasure trove for collectors.
Silver dollars circulated more commonly in the American West were people prefered "cold, hard cash" rather than paper bills.
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More Information
Coin values at PCGS
1921 Morgan Dollar
Biography of George T. Morgan
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