Grading Morgan Dollars: What You Need to Know
This silver dollar holds a special place in the hearts of collectors and historians alike. Named after its designer, George T. Morgan, the coin represents a significant era in U.S. history, marked by economic expansion, industrialization, and a growing sense of national identity. This article delves into the history, design, significance, and legacy of the Morgan Dollar. Morgan Dollar The Historical Context The late 19th century was a period of profound change and development in the United States. The nation was recovering from the Civil War, experiencing rapid industrial growth, and expanding westward. During this time, the Bland-Allison Act of 1878 was passed, requiring the U.S. Treasury to purchase large amounts of silver to be minted into coins. This legislation aimed to support the struggling silver mining industry and stabilize the economy.
The Birth of the Morgan Dollar In response to the Bland-Allison Act, the U.S. Mint began producing the Morgan Dollar in 1878. George T. Morgan, an English-born engraver, was tasked with designing the new coin. His design featured Lady Liberty on the obverse, with a profile reminiscent of Anna Willess Williams, a Philadelphia schoolteacher who modeled for the coin. The reverse depicted a heraldic eagle with outstretched wings, clutching arrows and an olive branch.
Morgan’s design was a departure from previous depictions of Liberty, presenting her with a more modern and youthful appearance. The intricate details and artistic quality of the design quickly made the Morgan Dollar a favorite among the public and collectors.
The Design and Variations
The Morgan Dollar’s design is renowned for its intricate detail and symbolism. The obverse features Lady Liberty wearing a Phrygian cap, adorned with wheat and cotton, symbolizing agriculture and prosperity. The word “LIBERTY” is inscribed on her headband, with the motto “E PLURIBUS UNUM” (Out of many, one) above her head.
The reverse showcases a bald eagle with wings spread, holding arrows and an olive branch, representing both war and peace. The words “UNITED STATES OF AMERICA” and “IN GOD WE TRUST” encircle the eagle, along with the denomination “ONE DOLLAR” at the bottom.
Over the years, the Morgan Dollar saw various modifications and mintmarks, indicating where they were produced. These mintmarks include “CC” for Carson City, “O” for New Orleans, “S” for San Francisco, and “D” for Denver, along with the Philadelphia mint, which had no mintmark. Each mint produced coins with slight variations, adding to the collectibility of the series.
The End of an Era and a Brief Revival Production of the Morgan Dollar ceased in 1904, largely due to the depletion of silver reserves and changes in U.S. monetary policy. However, in 1921, the Morgan Dollar saw a brief revival due to the Pittman Act of 1918, which authorized the melting and recoining of silver dollars. This final year of production produced Morgan Dollars in large quantities, but the coin was soon replaced by the Peace Dollar, commemorating the end of World War I and symbolizing a new era of peace.
The Legacy of the Morgan Dollar The Morgan Dollar’s legacy endures through its historical significance, artistic beauty, and the stories it tells about America’s past. Today, it remains a highly sought-after coin among collectors, with certain dates and mintmarks commanding high premiums. Key dates like the 1889-CC, 1893-S, and 1895 are particularly rare and valuable.
Collectors are drawn to the Morgan Dollar for various reasons, including its historical context, design variations, and the challenge of assembling a complete set. The coin also serves as a tangible link to the economic and social history of the United States during the late 19th and early 20th centuries.
Investing in Morgan Dollars For those interested in numismatics, investing in Morgan Dollars can be both rewarding and educational. When building a collection, it’s essential to consider factors such as condition, rarity, and provenance. Coins in higher grades, such as Mint State (MS) conditions, are typically more valuable. Professional grading services like the Numismatic Guaranty Corporation (NGC) and the Professional Coin Grading Service (PCGS) provide reliable assessments of a coin’s condition and authenticity.
Additionally, understanding the historical context and variations of different mintmarks can enhance the collecting experience. Whether acquiring coins as an investment or for personal enjoyment, the Morgan Dollar offers a rich and fascinating journey into America’s numismatic heritage. Conclusion The Morgan Dollar stands as a testament to a pivotal era in American history, reflecting the nation’s growth, challenges, and achievements. Its timeless design, historical significance, and enduring popularity make it a cherished piece of Americana. Whether you are a seasoned collector or new to numismatics, the Morgan Dollar provides a captivating glimpse into the past and a valuable addition to any collection.
