Are you considering building a collection of American silver coins? Morgan Silver Dollars should be one of the first coins to consider, especially if you are just starting out in the hobby. Owning a Morgan Dollar collection means having a collection of United States coins with a rich background that goes back well over a century. Although the coin has been out of circulation for practically ninety years, in numerous ways it's attraction has never been greater than it is today.
The value of the Morgan Silver Dollar at present is really established on where the coin was minted. Those that came out from the mint in Carson City for instance, would be valued more highly because the mintages there were usually very low in number.
This popular coin started production back in 1878 at a number of locations around the country until 1904, with a final edition of the coin presented once more in 1921. The reverse of the coin that features the American bald eagle determines the location of the coin's origin, and therefore presents the indication as to the coin's likely worth. The mint symbol are located among the letters in the word "DOLLAR". Upon examination of the coin, they should not be difficult to find.
The mintmark containing the letter "D" indicates the Denver, Colorado mint,"P" for the mint in Philadelphia, Pennsylvania, "CC" for mint in Carson City, Nevada, "S" for mint in San Francisco, California, and "O" for coins manufactured at the mint in New Orleans, Louisiana.
Morgan Dollars were minted with the passage of the 1978 Bland-Allison Act requiring United States Treasury acquisition of silver for common circulation as dollars. The preliminary coin issues were named after chief mint designer George T. Morgan, who depicted Lady Liberty on the obverse side bearing his monogram. The silver content of this coin totals 0.77344 troy ounces, with a .900 fineness, making this one of the heaviest and most durable coins in American history.
All tolled, some 657 million Morgan dollars were manufactured in 96 diverse date-and-mint combinations. Through the years, hundreds of millions Morgan Silver Dollarswere melted by the united states government under both the Pittman Act along with the 1942 Silver Act, and privately since the 1960's, as rising silver values made it worthwhile to do so. Regardless of the coins being destroyed, Individuals had of to satisfy their wishes. This was specially true given that the coins were still widely circulated on the West coast. As a result, large reserves could still be found in the Treasury's vaults, as well in financial institutions across America. This is the key element in revealing the reason for the variations in Morgan Dollar values and the reason why you will find that there are so many Morgan Silver dollars that can be found in such outstanding condition even today.