The Pittman Work known as for 350,000,000 present Morgan Dollar to be melted for bullion & for Congress to buy the equivalent quantity of silver from US mines at a fixed price of one an ounce. This silver was to be used to mint a like quantity of new silver dollar, & the resulting 23 cent distinction per $ getting regarded a subsidy to the country’s silver producers.

The Morgan Buck was minted at all three mints in 1921 to the tune of around 86 million coins. At the exact same time the new Peace Buck was becoming designed by Anthony DeFrancisci, a noted designer of medals. His pattern was decidedly distinct from past designs in a couple of notable techniques. 1st, his depiction of LIBERTY faced left rather of correct as she did in the Morgan $ & Barber coins of the era, & she wears a crown of rays all-around her head. His Eagle is at rest with wings folded on the reverse, rather than in flight as or with wings spread as in previous coin patterns. The Eagle stands on a mound with the word PEACE on it, with rays extending out from the mound. The most unique variation was the alleviation of the coin. Staying a designer of medals DeFrancisci utilized the higher relief pattern that a medal would bear, some thing not yet tried on a US coin design.

After the Peace design was ready, mintage of Morgans was suspended & 1,006,473 1921 Peace Dollars have been struck at the Philadelphia mint. This was the only 12 months that the coin was not minted at least 1 of the other 2 branch mints, producing the this 1921 silver buck the only style not to bear a mint mark. In subsequent a long time the mint mark would appear on the reverse below the Eagle’s tail feathers. The coins were really detailed mainly because of the large alleviation, but this also made them tough stack & the style was altered to lower comfort in 1922 & from then on the coins had a common low relief.

The mix of its lower mintage, special higher comfort style, & initial yr of release makes the 1921 Peace $ a quite collectible & extremely desirable coin. The style was halted following only seven many years in 1928 due to the requirements of the Pittman Act being met. It manufactured a brief reappearance in 1934 & 1935 before getting once yet again discontinued. It was the last true Silver Buck design in the United States, with the Eisenhower & Susan B. Anthony Money becoming clad with no silver written content.

Carson City Nevada: A group of silver mine owners had formed a lobbying group, led by Congressman Richard “Silver Dick” Bland, was able to pass legislation that made the U.S. Treasury its biggest customer.

The Comstock Lode, one of the greatest silver strikes in history, was discovered in Nevada in the late 1850s. The strike put downward pressure on silver prices worldwide. In 1878 Congress passed the Bland-Allison Act which required the Treasury Department to purchase large amounts of silver, and to strike it as coins. For reasons of economy, the Treasury chose to strike the silver as dollars (From Wikipedia).

In 1861 Carson City became the capital of the Nevada Territory, and remained the seat of state government when Nevada joined the Union in 1864. The city was founded in 1858 by Abe Curry who later became one of the most influential personalities in the territory, mostly due to the town”s riches derived from silver mining. During the “silver rush”, the population of the Nevada mining district numbered in the tens of thousands, where the scarcity of hard money made routine financial transactions difficult. The silver was shipped (over the Sierra Nevada Mountains) to the US branch mint operating in San Francisco, and then back again after being converted to coinage. This practice was very expensive and risky, as the trails were closely patrolled by opportunistic thieves.

Nevada Territory mine owners petitioned Congress for a new branch mint in their vicinity. Legislation to establish a mint in the Nevada Territory was approved on March 3, 1863. Abe Curry lobbied the government to choose Carson City as the site of the new mint. In September 1863, the federal government purchased Block 65 from private citizens in Carson City, for the purpose of constructing the coining facility.

The very first Carson City Mint coin to debut was the 1870-CC Liberty Seated silver dollar.

Government and its impact on the Carson City Mint

In 1834, the US government established the value of silver and gold at a ratio of 16 to 1.

The government specified the weight of silver or gold to be coined into one dollar worth denomination of hard money. Anyone could bring their bullion to the Mint and receive dollars worth of coins in exchange for ounces of bullion. This practice set the price the government was willing to pay per troy ounce of silver and gold (1oz Gold = 16oz Silver = $20).

This worked well until the late 1840s and 1850s, when the supply of gold increased dramatically (during California gold-rush), upsetting the existing gold-silver balance. Consequently, silver became more scarce relative to gold, meaning silver sellers could sell 16 ounces of silver to private buyers(often foreigners), for more than one ounce of gold. As a result, they often preferred to sell their silver this way rather than take it to one of the US mints for conversion into coins.

As the prolific Comstock Lode (Nevada) and mines in Colorado dumped silver into the open market, this situation reversed itself. By the mid 1870s, private buyers were purchasing 16 ounces of silver for less than one ounce of gold.

Based on the Treasury’s offer to buy silver at the ratio of 16 to 1, silver owners came to the Carson City Mint and other US mints, demanding that their silver be coined into dollars. They found out that Congress had already enacted the Coinage Act of 1873, eliminating the silver dollar, in effect, demonetizing silver and committed our country to a gold standard only. Silver advocates denounced the law and managed to persuade Congress to pass the Bland-Allison Act in 1878.

Under the Bland-Allison act, the Treasury Dept was required to purchase $2 to $4 million of silver monthly and mint it into dollar coins, in a quest to stabilize the price of silver at artificially high levels. The dollars were named after George T. Morgan, the designer of the new coin. Accordingly, large quantities of Morgan silver dollars were minted, but many did not circulate well, especially in Eastern States where silver was resented. Millions of the unused coins ended up in Treasury storage vaults for decades.

More politics

In 1884 a Democrat, Grover Cleveland was elected to the White House. In September 1885, Cleveland fired all mint employees and completely shut down the Carson City mint.

When Benjamin Harrison recaptured the presidency for the GOP in 1888, the Democratic appointees were replaced by Republicans. In 1889, Carson City mint was allocated funds to resume coining operations.

The Bland-Allison Act was modified by the Sherman Silver Purchase Act of 1890. The Act mandated the government purchase 4.5 million ounces of silver each month, to be paid for with Treasury bonds redeemable in either gold or silver.

“Unexpectedly”, most bond holders redeemed their notes in gold, depleting the Treasury”s gold reserve and throwing the entire country into a severe financial panic in 1893, leading to the repeal of the Sherman Act and greatly slowing the production of silver dollars.

On June 1, 1893, Mint Director Robert Preston ordered a cessation of coining operations at the Carson City Mint.

The bullion supply for silver dollars ran out in 1904 and minting of silver dollars ceased.

The Pittman Act of 1918 required the government to convert silver dollars into bullion and then create an equal number of new coins from the bullion. More than 270 million silver dollars were melted down. Most of the coins were Carson City silver dollars.

To comply with the Pittman Act, production of the Morgan Silver Dollar resumed in 1921 for a brief period of time. You”d think that would be the end of the story, but it”s not. The Silver Act of 1942 resulted in the melting down of even more Morgan Silver Dollars. In fact, it”s estimated that more than 80% of the Morgan Silver Dollars that were produced are no longer in existence.

In 1962, the U.S. government began selling original Treasury bags containing 1,000 silver dollars for face value. During the early 1970s, the General Services Administration packaged and sold off most of the remaining government-owned Morgans, many of which were minted in Carson City.

“The Morgan Dollar is a silver United States dollar coin. The dollars were minted from 1878 to 1904 and again for one more year in 1921. The Morgan Dollar is named after its designer, George T. Morgan, who designed the obverse and reverse of the coin. Morgan’s monogram appears near Lady Liberty’s neck on the obverse. The dollar was authorized by the Bland-Allison Act of 1878. It has a fineness of .900, giving a total silver content of 0.77344 troy ounces (24.057 grams) per coin”

This is essentially the most common way to start the process of amassing a wonderful representation of matter, a person has decided. This can include such things as other specific states, or different presidents so funny many money market products, including the names of many of the dollar bills. People seem to have a fascination with these issues, and this hobby allows them to put their interest in working in a very positive. In addition, this may be a good value to invest in some very desirable and useful products while having fun at the same time.

Usually the money gives people the chance to see all kinds of unique items, as well as more general articles. You might be surprised at how many variations of silver money is really beaten the last three hundred years. The selection is often very large, it seems like a very old standbys like the dollar 1921 silver better attract a great interest in the case of visitors. Fortunately, they can easily be used throughout the day soaking up the beauty and history. Some of these people may just find the next big piece to add your coin collection.

Jump to such an event is highly recommended if you happen to have an old silver dollar interest or history for this question. The reason why many of these points have been produced, is in fact celebrate the people, historical events or places where they are based. This is an example of how history is finally transmitted from one generation to another.

The first Morgan dollar was minted in 1878. Also the infamous Lincoln County War began in New Mexico. The war was started to break a monopoly in the county in the beef cattle trade. The most famous participant in the conflict was William Henry McCarty, also known as Billy the Kid.

The Morgan coins saw America through good and bad times, including many milestones in the country’s history. Some of the more notable include;

1879-Thomas Edison demonstrated a successful electric light with a cotton thread as the filament.

1881-President James Garfield was shot in July and died in September.

1882-Jesse James was shot and killed by one of his associates.

1883-The Brooklyn Bridge was opened.

1885-The Westinghouse Electrical & Manufacturing Company was founded.

1886-The first Coca-Cola was sold by pharmacist John S. Pemberton in Atlanta, Georgia.

1887-Thomas Edison built the first motor driven phonograph.

1888-George Eastman introduced the Kodak camera.

1889-The I.M. Singer company begins marketing the first electrically driven sewing machine.

1891-Carnegie Hall opens in New York City.

1894-Oil begins gushing from a well being drilled for water in Corsicana, Texas.

1895-The first auto race took place on a 53 mile stretch between Chicago and Milwaukee.

1896-The first commercial car for sale was made by the Duryea Motor Company in Massachusetts.

1898-Teddy Roosevelt and his Rough Riders made their famous charge up San Juan Hill.

1901-President William McKinley was shot in Buffalo and died 8 days later.

1903-At Kitty Hawk, North Carolina Wilbur and Orville Wright flew 852 feet at an altitude of 15 feet for 59 seconds.

The 1887 Morgan silver dollar is now the most popular silver dollar among collectors, and one of the most collected of all American coins. Having seen America through so many important moments, it’s no wonder this coin becomes more popular each year.

Mint Express: Coins are graded on a numeric basis exactly where 1 is the lowest and 70 is the highest with Morgan Money you will not see a 70 as the just did not have the technology we have nowadays.

What you want to see on the coin is no indicators of wear, the word liberty on the crown ought to be sharp as nicely as the eagle’s breast and tail feathers.

1880 Philadelphia Silver Dollar: If your coin is below a mint express 60 the worth of your Morgan Silver Dollar is less than Dollar 50 Kinds include eight more than seven more than-dates which show a 7 under the 2nd eight of the date. A pr69 did market for more than Dollar 50,000

Mintages: Flow strikes: 12,600,000 Proofs: 1,355 mint mark: None (Philadelphia)

The 1880-S Morgan Silver Buck: Morgan Cash from the San Francisco mint are acknowledged for becoming struck nicely and visually appealing as they cleaned the dies more frequently. As far as what the coin is well worth you want to have this coin in a “ms” 64 or above Two unusual above-dates include one with a 7 under the second eight of the date and one more with a 9 below the .

Specifics: Blood circulation strikes: 8,900,000 Mint mark: “S” for San Francisco just under the bow on the reverse

1880-O Morgan SILVER Dollar: In contrast to San Francisco, A lot of New Orleans had poor striking top quality, so if you can fine a substantial quality “DMPL” they will bring far more Deep Mirror Proof likes are really scarce and Gem examples are extremely extraordinary. If you believe you have a coin with a higher grade get it graded.

Mintage: Circulation strikes: 5,305,000 Mint mark: “O” for New Orleans, underneath the bow on the change

Now if you acquire Morgan Money I Don’t have to tell you what is following.

The 1880-CC Morgan Silver Buck: Scarce in Uncirculated problem, but still obtainable if you do strategy on selling this coin you probably need to get it graded you in no way know you might have a mint talk about 65 if not nevertheless well worth a handful of hundred bear in mind the larger the grade the much more it is well worth.

The 1880-CC Morgan Silver Buck also had a handful of types 1880-CC, Subsequent 8 above a higher seven (extraordinary)
1880-CC, Second eight more than 7, Change of 1878 (really uncommon) 1880-CC, Second 8 over a lower 7 (extraordinary)
1880 more than 79-CC, Change of 1878

Mintage: Flow strikes: 591,000 Mint Mark: “CC” for Carson City, below the bow on the change

Alright that covers 1880 Silver Money if you would like to know much more please really feel free of charge to send me an email. Morgan Bucks have a rich background and a fantastic track record if you know what coins to gather you can do really nicely. You certainly not know numerous coins have out paced stocks, no surprise right now.

The silver coin itself is large, 38.1 mm in diameter, weighs 26.73 grams, is made of .900 fine silver and has a reeded edge. The total silver content is .77344 troy ounces. Late in the 1850s, the Comstock Lode was discovered in Nevada. This had been called the biggest silver strike in history and had the effect of driving down silver prices all over the world. As a result of this strike, Congress initiated the Bland-Allison Act in 1878, which made it a requirement for the Treasury Department to buy great amounts of silver to make coins from. Therefore, the first Morgan Dollar was made on March 11, 1878.

It is estimated that more than 500 million Morgan Dollars were made until production was halted in 1904. As the Morgan Dollar was mostly ignored, it was not a strong collectible. There were few who collected the big coins, mostly because $1 had considerable purchasing power in those days. Circulation of the silver dollars was stronger in the west than the east where the preference had grown for paper money. Most of the millions of silver dollars coined from 1878 to 1904 ended up in vaults where they stayed for years.

The silver Morgan Dollar has become one of the most traded and collected coins ever minted. Part of the reason is that so many mint state examples are available and relatively inexpensive. In the latter half of the 20th century the discovery of large hoards of silver dollars, including the unintentional hoards of the federal government, has led to renewed interest in collecting the silver Morgan Dollars.

One such hoard was that of a rather paranoid stock investor named LaVere Redfield, who also invested in a large amount of real estate. He did not trust banks and he also did not like paper money. He grabbed every possible chance to turn his money into “hard” money. In doing so, he became quite interested in the Morgan Dollar with its 90 percent silver content. He started hoarding as many of these as he could get his hands on. Putting them into bags, he stored them under his house.

Upon Redfields death in 1974, the Internal Revenue Service did an appraisal of his estate. They discovered all of these bags of silver dollars under his house. There is a story that Redfield had left a note asking whoever found his stash to not alert the IRS of its existence. He was probably turning over in his grave when those IRS agents found not only his stash of Morgan Dollars, but that note, as well.

There were a total of 411,000 silver dollars removed from Redfields property. These coins weighed 11 tons collectively. They were gathered and put up for auction to collectors. Redfields silver dollars sold for $7.3 million. This is considered to be the largest transaction of its kind in history. There have been many other large hoards discovered over the years, including that of famous Las Vegas casino owner Ted Binion, and others will surely be found.

The federal governments hoard of Morgan Dollars was auctioned off coin by coin in a series of auctions conducted over several years in the late 20th century. These coins were specially packaged by the General Services Administration for auction and are now referred to as GSA Morgans and are sought after by collectors. Many once believed rare Carson City Mint produced Morgans in mint state condition showed up over the course of these auctions. Because of the low demand for silver dollars during the time of their production they had never made it into circulation.

There is much more to the silver Morgan Dollar story. Each years issue and mint seemed to produce errors and varieties that are still being discovered today. These all provide different paths for collectors to take and opportunities for numismatic discoveries.

The silver Morgan Dollar was produced at the Philadelphia, Denver, San Francisco, Carson City and New Orleans Mints. While the Morgan Dollar had not impressed many when it was in circulation, as more and more of these beautiful coins have come to light and time has passed it has become one of the most famous and desired silver dollars produced by the U.S. Mints.

The Pittman Work referred to as for 350,000,000 present Morgan Us dollars to be melted for bullion & for Congress to invest in the equivalent quantity of silver from US mines at a fixed cost of one an ounce. This silver was to be applied to mint a like quantity of new silver dollars, & the resulting 23 cent variation per dollar becoming regarded as a subsidy to the country’s silver producers.

The Morgan Dollar was minted at all three mints in 1921 to the tune of all around 86 million coins. At the same time the new Peace Dollar was getting developed by Anthony DeFrancisci, a noted designer of medals. His pattern was decidedly diverse from prior models in a couple of notable ways. Very first, his depiction of LIBERTY faced left rather of proper as she did in the Morgan Dollar & Barber coins of the era, & she wears a crown of rays around her head. His Eagle is at rest with wings folded on the reverse, rather than in flight as or with wings spread as in prior coin styles. The Eagle stands on a mound with the word PEACE on it, with rays extending out from the mound. The most distinct distinction was the relief of the coin. Staying a designer of medals DeFrancisci used the substantial reduction pattern that a medal would bear, some thing not yet tried on a US coin style.

As soon as the Peace design was prepared, mintage of Morgans was suspended & 1,006,473 1921 Peace Us dollars had been struck at the Philadelphia mint. This was the only year that the coin was not minted at least 1 of the other 2 branch mints, creating the this 1921 silver dollar the only style not to bear a mint mark. In subsequent many years the mint mark would appear on the reverse below the Eagle’s tail feathers. The coins were really detailed since of the higher comfort, but this also produced them hard stack & the pattern was altered to minimal relief in 1922 & from then on the coins had a common low alleviation.

The mixture of its lower mintage, distinctive large alleviation layout, & initial yr of release tends to make the 1921 Peace Dollar a really collectible & extremely desirable coin. The layout was halted following only seven many years in 1928 due to the requirements of the Pittman Work getting met. It created a brief reappearance in 1934 & 1935 just before staying once more discontinued. It was the last accurate Silver Dollar layout in the United States, with the Eisenhower & Susan B. Anthony Us dollars being clad with no silver content material.

Mint State: Coins are graded on a numeric basis where 1 is the lowest and 70 is the highest with Morgan Dollars you will not see a 70 as the just did not have the technology we have today.

What you want to see on the coin is no signs of wear, the word liberty on the crown should be sharp as well as the eagle’s breast and tail feathers.

1880 Philadelphia Silver Dollar:If your coin is under a mint state 60 the value of your Morgan Silver Dollar is less than $50 Varieties include 8 over 7 over-dates which show a 7 beneath the second 8 of the date. A pr69 did sell for more than $50,000

Mintages: Circulation strikes: 12,600,000 Proofs: 1,355 mint mark: None (Philadelphia)

The 1880-S Morgan Silver Dollar: Morgan Dollars from the San Francisco mint are known for being struck well and visually appealing as they cleaned the dies more often. As far as what the coin is worth you want to have this coin in a “ms” 64 or above Two rare over-dates include one with a 7 under the second 8 of the date and 1 more with a 9 under the 0.

Details: Circulation strikes: 8,900,000 Mint mark: “S” for San Francisco just under the bow on the reverse

1880-O Morgan SILVER DOLLAR:Unlike San Francisco, Many New Orleans had poor striking quality, so if you can fine a high quality “DMPL” they will bring more Deep Mirror Proof likes are very scarce and Gem examples are extremely rare. If you believe you have a coin with a high grade get it graded.

Mintage: Circulation strikes: 5,305,000 Mint mark: “O” for New Orleans, beneath the bow on the reverse

Now if you collect Morgan Dollars I Don’t have to tell you what is next.

The 1880-CC Morgan Silver Dollar:scarce in Uncirculated condition, but still obtainable if you do plan on selling this coin you probably should get it graded you never know you may have a mint state 65 if not still worth a few hundred remember the higher the grade the more it is worth.

The 1880-CC Morgan Silver Dollar also had a few varieties 1880-CC, Second 8 over a high 7 (rare)

1880-CC, Second 8 over 7, Reverse of 1878 (very rare) 1880-CC, Second 8 over a low 7 (rare)

1880 over 79-CC, Reverse of 1878

Mintage: Circulation strikes: 591,000 Mint Mark: “CC” for Carson City, beneath the bow on the reverse

OK that covers 1880 Silver Dollars if you would like to know more please feel free to send me an email. Morgan Dollars have a rich history and a great track record if you know what coins to collect you can do very well. You never know many coins have out paced stocks, no surprise today.

If you have some coins left to by family take some time and learn a little about collecting, and pass these down to your kids, after all I am sure you wish your parents or grandparents left you some Carson City coins, right?

Preceding to the Morgan Silver Dollar was the Seated Liberty Silver Dollar and Silver trade coins which have been used mainly for trade with the orient. Morgan Silver Dollars had been produced of .77344 troy ounce of silver and were definitely produced around the exact same time as a huge silver strike in Nevada. Since the availability of silver was so big, the US government resumed creation for one particular year to create the now well-known 1921 Morgan Silver Dollar.

1 exciting story comes to thoughts with regards to the fate of the 1921 Silver Us dollars. An outdated farmer by the name of Lavere Redfield started to accumulate a massive supply of them. He was a savvy investor and lived as even though he had nothing. At the time of his death in the 1970’s, he left an estate valued at above 100 million us dollars. Between his assets have been a cache of Morgan’s so significant that no a single had ever arrive across such a big hoard. It looks that above the years Redfield would pay a visit to a bank and acquire bags of 1000 Morgan Silver Dollars at 1 time, driving them household in his outdated pickup truck. At the time he was ready to invest in the coins for only $1 every. Upon his death, a mountain of silver cash were discovered in his basement, to the tune of 400 bags. 400 bags of coins with each and every bag containing 1000 cash. Even at face value would have been $400,000, on the other hand the cash went to auction and fetched above 7 million dollars!

Since their concern in the 1920’s the Morgan coins have been an essential component of numerous coin collections. Amongst the most beneficial of the Morgan Silver Money are the coins marked with “cc”, which is an indication that these coins have been made at the Carson Town facility. In terms of higher worth, there are 3 many years of Morgan’s that stand out as getting uncommon: the 1889-CC, the 1893-S and the 1895 Morgan Silver Us dollars. Of all Morgan Silver Dollars, these are the most sought after. If you happen to be the owner of 1 of these cash, you may possibly be pleasantly shocked with the worth of the coin.

Morgan Silver Dollars
Morgan Silver $ has come to be really well-known amongst collectors and are still getting desired. Are extremely strong and get aid for numerous many years, purchase and series points. Your life is the effect of the huge amount of cash in every single item, a lot more than 24 grams per item goes. The Morgan dollar much more, the original benefit because of substantial silver content. The articles of the $ in 1889 Morgan silver and copper .900 .100with a total weight of 26.73 grams.
The total assortment of Morgan us dollars have been five ticks of the city: Carson Metropolis, Philadelphia, has struck New Orleans, Denver and San Francisco. The mint mark on the back of the room correct under the tail feathers of the eagle. Each and every town designated as the mint mark the dollar was taken in. For instance, CC Carson City, or New Orleans, Denver D, etc. “Even if all Morgan dollars are worth a lot more than its face value, of Morgan in 1889Silver Dollar is the most useful and looked for following piece of the U.S. dollar series with Morgan. This is partly mainly because of its connection to the west. Carson Metropolis had the lowest circulating coins of Carson Town held the greatest worth. Morgan Silver Dollar is usually appreciated and desired right after mainly because of their western traditions and background of the explicit design. The funds was used in its design from the Comstock Lode, the individuals of a memory of the great strikes of funds “in History”.

Morgan Silver Dollar Layout
The front of 1889 Morgan Silver Dollar Lady Liberty on the left. Turning close to them, the date of the document (see below), the words “E Pluribus Unum” on it and thirteen stars on both sides. The style of Lady Liberty is actually the outcome of sketches Willess Anna Morgan Williams, a teacher in Philadelphia. “E Pluribus Unum” was selected to be utilized, meaning “From numerous, one particular.” The other side1889 Morgan Silver Dollar has a bald eagle sitting on a mixture of branches and arrows with its wings. Some ring all around the eagle and the inscription “In God We Trust” are just above the head. The board of Morgan Silver $ in 1887, has “USA” on top and a “dollar” at the bottom with a star involving the two groups. The bald eagle is not an immediate hit with audiences when it 1st came out, but have grown to enjoy this icon.