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(1878-1904; 1921) Morgan Dollar

CoinTrapTM Commentary: The Morgan Dollar Coin, a favorite among collectors, was made from 90% silver and 10% copper. It measures 38.1 mm (1.5 inches) in diameter and weighs 26.73 grams.

Production of the Morgan Dollars by the Treasury began in 1878.  Years later, in the wake of the Panic of 1893, which included runs on banks and large industrial companies succumbing to bankruptcy, President Grover Cleveland, believing the panic was caused by inflation rooted in the Sherman Silver Purchase Act, called a special session of Congress with the intent of repealing the Act.  As a result, the Sherman Act, which required the Treasury to purchase 4.5 million troy ounces of silver per month, was overturned in 1893. 

Congress eventually ordered all of the remaining silver purchased under the Sherman Act to be minted as silver dollars, which boosted mintage of the Morgan dollar for a number of years, until 1904, when all of the silver had been exhausted.  In 1921, the Morgan dollar was minted for the last year, by the Denver Mint, the only year in which the Morgan dollar was minted in Denver.

Coin Value: What is the value of your Morgan Dollar?  As is most usually the case, it depends. The Morgan Dollar coin worth or value depends on these main factors: (1) your coin’s grade, (2) scarcity/demand and (3) the mint (S for San Francisco, O for New Orleans, CC for Carson City, D for Denver, and none for Philadelphia). Regarding your coin’s grade, it has become a standard in the field of numismatics (coin collecting) to grade coins on a point-scale from 1 (poor) to 70 (perfect).  This is also referred to as the “Mint State” or just “MS” for short. Click here to find the up-to-date estimated value of your Morgan dollar coin from the Professional Coin Grading Service (PCGS®), which takes all four factors mentioned above into account*. If you do not know the grade of your Morgan Dollar, you can take it to your local coin dealer and ask that they have it graded at one of the three major coin grading services.

 Morgan Dollar Coin Mint Years: 1878, 1879, 1880, 1881, 1882, 1883, 1884, 1885, 1886, 1887, 1888, 1889, 1890, 1891, 1892, 1893, 1894, 1895, 1896, 1897, 1898, 1899, 1900, 1901, 1902, 1903, 1904, 1921

Morgan Dollar - Obverse

Morgan Dollar - Reverse

Morgan Dollar - Obverse

Designer:  George T. Morgan

Morgan Dollar - Reverse

Designer:  George T. Morgan

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The Fourth Coinage Act enacted by the United States Congress in 1873 embraced the gold standard but at the same time demonetized silver.  Eventually, mining special interests lobbied Congress to restore free silver coinage. The Bland-Allison act was passed, which directed the Treasury to purchase millions of dollars worth of silver each month to be coined into dollars, and authorized the minting of the Morgan Dollar. In 1898, Congress approved a bill that required bullion silver purchased under the Sherman Silver Purchase Act to be minted into silver dollars.  The silver was depleted by 1904, and production of the Morgan dollar ceased for a time.  The Mint resumed production of the Morgan dollar in 1921, but replaced it with the Peace dollar later that year.

* CoinTrapTM is not affiliated with the PCGS®.  By clicking on the link above, you are opening a browser window containing content provided by a third party website and you will be subject to any terms and conditions as set forth on that website.

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Coin Collecting, Coin Commentary and Coin Values