Morgan Silver Dollar

Have you ever asked yourself why some coins get the fame and others are not? Morgan Dollar now is the most desired coin in numismatic world. It has the real reason for that because it has everything perfect: appearance as well as history.

The first Morgan coin was invented at 1878 and had the 28 years old history of coinage. During this time it’s design was changed for 5 different mints. Named by its designer George T. Morgan it has the sideview of Miss Liberty’s head on the obverse and the eagle with outspreaded wings on the reverse. The eagle holds in his talons an olive branch and a bundle of arrows. Designer put his initials and mintmarks on the both sides: under the Miss Liberty’s neck and under the ribbon on reverse. Depending on the place of coinage coins have 5 different mints on reverse: Philadelphia Mint (P), Carson City Mint (CC), Denver (D), New Orlean (O), and San-Francisco Mint (S).

Though the Morgan dollar is used to be called a masterpiece and stand-alone art form, its history was greedy for luck and changeable as Cinderella tale. Political needs brought the coin into being and nobody was excited by it at first. Generally its mint counts more than half a billion pieces. Actually, the coin was not friendly greeted with the public. It considered eagle scraggy and called the coin “buzzard dollar” for the skinny bird and “cartwheel” for coin’s large size; someone didn’t like the eagle’s tail feathers and proposed to remain seven of them instead of eight initially designed. Since that there are Morgans with eight, seven and seven-over-eight eagle feathers. The first changes were brought into being. It was followed by a string of changes and melting. It’s destiny was influenced by Bland-Allison Act and the Pittman Act. In 1904 the minting of Morgan dollar was stopped and in 1921 was the last curtain call of produsion of Morgan, though, most of the previous mint was melted. And new coinage had the new Peace desing indeed. For the decade or more Morgan Dollar was floating in the circulation (mainly in the West) without any obvious events. In the 1930s it has attracted the numismatic interest by learning that the Department’s Cash Room was paying out Carson City Dollar which was under the circulation that time. Its prise rised up to 5$ per one.

In 1960 the silver had upsurge of prise and there was the profit drawing out of it by redeeming silver sertificates for Morgan dollar. Some did that untill Government went against it but it had steady effect - the interest of public to Morgan dollar had rised up. That was the way to the triumph. It didn’t keep the public waiting. In the basement of Nevada LaVere Redfield home was found the cache with 400000+ Morgans. All America was excited and in January 1976 at Probate Court auction the cache was sold with a winning bid of more than 7 million.

However, even Morgan has the king. So they call it - “King of Morgan dollar“, it’s Morgan 1895. Morgan has 3 rare types indeed. They are: 1889-CC; 1893-S and 1895 Proof. Morgan 1895 is the rarest and has the perfect appearance. According to Red Book 2009 it worth 1 000 000 $. But it won such a glory with the help of mystery. The mystery of dissapearance. The U.S. Mint records tell us that there were minted 12 000 Morgans in 1985 and 880 Proofs. Nowadays there are only 80 Proofs and no one of 12 000 coins in the world. A mystery? Indeed. Nobody knows where did they go but it helps the proofs to be so valuable and keeps numismatic world dreaming about discovering another one hoard with Morgans if one still exists.