100 Year Old 1 Dollar United State of America Silver Coin

in history •  3 years ago  (edited)

Amongst many of my silver coins, the "Morgan dollar" is one of my favorite.

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History of The Morgan Silver Dollar

The Morgan Dollar was minted from 1878 to 1904 with one reissue in 1921, and it was struck at five U.S. Mints: Carson City, Philadelphia, San Francisco, New Orleans, and Denver. The coin came to life after the largest silver strike in the world: the 1859 Comstock Lode, which was a large silver deposit in Nevada, named after Henry Comstock, who was a part-owner of the property where it was discovered in June 1859. The lode resulted in a huge flood of silver to the market. However, in 1873, The Coinage Act put an end to the manufacture of silver coins in the United States as values dropped. The Bland-Allison Act made silver legal tender alive again in 1878, requiring the U.S. Treasury to purchase a certain amount of silver and minting 2 million silver dollars per month. This is when the Morgan Silver dollar started being produced until the year 1904.

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In the early 1900s, the Comstock lode was deteriorating as the supply of silver was decreasing, which resulted in a halt in silver coinage production. Then came the Pittman Act in 1918, which resulted in the melting down of over 270 million stored Morgan Silver Dollars and the selling of the bullion abroad, leading to a reissue of the Morgan Silver Dollar in 1921.

The Designer: George T. Morgan

The exquisite Morgan Dollars were named after their designer, George T. Morgan. During the year 1876, the Director of the United States Mint, Henry Linderman, realized that the nation desperately needed a new silver dollar coin. He decided to hold a competition between William and Charles Barber, who had worked at the Philadelphia Mint for years, and George T. Morgan, a young new engraver whom Linderman had brought over from England. Morgan was born in Birmingham, England in 1845 and was working as an engraver for the Royal Mint in London before being recruited as a “Special Engraver” for the U.S. Mint’s Philadelphia branch. While both Charles and Morgan created the same design for the coin, Linderman obviously liked Morgan's design better.

Morgan used Philadelphia school teacher Anna Williams as a model for Lady Liberty for one of his Half Dollar patterns in 1877 because her Greek profile was almost ideal. He expanded this pattern to the size of the Silver Dollar after the Bland-Allison Act was passed in 1878, and this was the model that was finally used for the Silver Dollars approved by the Act; the coin that soon became known as the Morgan dollar.

Source Credit

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Photo Source: Numista

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