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Morgan Silver Dollars are the most popular old silver coins in the United States today. They were minted in key dates between 1878 and 1904 and then again in 1921. Morgan’s usually carried mintages between one million to twenty million coins; however some years carried mintages in the hundreds of thousands making them rare. The most common year was 1921 with a mintage of over 86 million coins produced, which is why they are less expensive than the 1878 to 1904 coins. We do not carry any rare date Morgans, only common dates in the given date ranges.
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The Morgan silver dollar got its name from its designer George Morgan who was recruited from London to become an engraver in the United States.
At first Morgan was asked to create the design for the half dollar. He recruited a model for the obverse and began studying the habits of the bald eagle for the reverse. When he finished his design the Director the Mint Henry Linderman, switched it up and commissioned Morgan’s work to be placed on the $1 coin.
Shortly after being released it got nicknamed the "Buzzard Dollar" by people in the U.S. due to the shape and look of the eagle on the reverse of the silver coin, not very flattering for Mr. Morgan.
The Morgan dollar got its start when the Bland-Allison Act of 1878 required the U.S. Treasury to mint two to four million worth of silver per month.
Pristine Morgan silver dollars coins contain .7735 ounces of silver, which can be attributed to maintaining the 16-1 gold to silver ratio at the time they were in circulation. Coins in the VG-EF condition can carry a slightly smaller percentage of silver due to wear and tear from circulation.
Not only are Morgan’s popular to collectors but also many investors buy them in the hopes that they will continue to appreciate in value over time. Loose coins will tend to move closer to the spot price while higher grades (MS63 and higher) will tend to move more with supply and demand. The higher the grades the better the opportunity for a premium play (buying when the coins are lower over spot than they have been in the past).
At Gold And Silver Online we offer for sale loose or in uncirculated condition, graded from mint state 63 to 66. If you are looking for something specific let us know and we will do our best to accommodate you.