1878 Morgan Silver Dollar Overview
Five years after the Coinage Act of 1873, the use of silver in coins made a boldface render with the appearance of the Morgan argent dollar, immediately a valuable and highly sought coin .
In reaction to the 1873 discontinuance of free silver neologism, the Bland-Allison Act, passed in 1878, required the U.S. Treasury to purchase between two and four million dollars ’ worth of ash grey each month to be used for minting coins .
With this act, the Morgan silver dollar was born. Mint Director Henry P. Linderman sought a design for the fresh coin from an adjunct, George T. Morgan. Morgan ’ mho design, though initially controversial, was accepted.
On the obverse of the coin is a big profile raid portrayal of Liberty. Above her head, along the upper flange, is the motto “ E PLURIBUS UNUM, ” and below her headway is the class of coinage .
On the turn back, in the kernel is an eagle with outspread wings, perched on an olive branch and a pile of arrows and surrounded by a wreath. Just above the eagle ’ randomness headway is the motto “ In God We Trust, ” and wrapped around the upper parcel and of the rim is “ THE UNITED STATES OF AMERICA. ” At the bottom of the rim is the denomination “ ONE DOLLAR. ”
Both sides feature a denticled rim, a rim composed of a ring of little bumps .
The Morgan silver dollar was minted until 1904, when a dearth of argent caused production to be ceased. A final mintage was produced in 1921 .
history of the 1878 Morgan Silver Dollar
1878 was the first mint of the Morgan argent dollar, and it was a disruptive first year for production .
In club to fulfill the quota laid out by the Bland-Allison work, the Philadelphia Mint shut down production on all other coins and worked overtime .
The cardinal difficulty with production, however, was Morgan ’ s revoke purpose. Whereas eagles traditionally had only seven tail-feathers, the foremost adaptation of Morgan ’ s eagle had eight tail-feathers, an offspring which caused a capital cope of controversy .
Some of these were taken back and restruck with a corrected seven-tail-feather design, but the original feathers are still partially visible on these coins .
In the same class, corrected designs were minted with only seven tail-feathers. There are two varieties of these new designs : one with parallel arrow feathers and one with slanted arrow feathers. Examples of all four designs ( eight tail-feathers, seven tail-feathers, and seven over eight tail-feathers ) survive .
In 1878, 10,500,000 Morgan argent dollars were minted at Philadelphia, 9,774,000 at San Francisco, and 2,212,000 at Carson City .
The 1878 Morgan silver dollar has a diameter of 38.1 mm and a mass of 26.73 grams. Compositionally, the coin is 90 % silver medal and 10 % copper .
Valuing the 1878 Morgan Silver Dollar
There are three independent factors that contribute to the value of an 1878 Morgan silver dollar : the grad, the batch mark, and the kind .
As always, the value of your coin depends largely on its grad or condition. As these coins are 140 years previous, coins with senior high school grades are not easily to come by and, consequently, fetch a higher price .
That said, no count what the grade of your 1878 Morgan silver dollar is, the melt measure ( how much the silver itself is deserving ) is $ 12.79 .
The batch tag, which signifies where the mint was minted, besides plays a big function in the respect of the 1878 Morgan silver dollar. The mint distinguish is located precisely below the base of the wreath, right above the “ D ” and “ O ” in “ ONE DOLLAR. ”
A coin minted in San Francisco, signified by an “ S, ” is deserving $ 29 in good condition and $ 35 in very good. This increases to $ 39 in Fine, $ 45 in very fine, and $ 323 in uncirculated ( MS-65 ) !
Coins minted in Carson City ( marked by “ CC ” ) are more valuable. Because the Carson City mint was not in process for very long, mintings from hera are rare. In good and Fine grades, this coin is worth $ 109 and $ 119, respectively. This increases to $ 145 in Extremely Fine and $ 172 in about Uncirculated. For Uncirculated ( MS-60 ), the prize is $ 311, but higher grades of Uncirculated may be deserving up to $ 1,709 !
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Of those coins minted in San Francisco ( no mint mark ), there are four varieties, as discussed in the above section. The four varieties differ largely in value above the Extremely Fine grades, as demonstrated by the under mesa. Pay particular attention to the measure of the proof !
|About Uncirculated (AU-59)||Uncirculated (MS-60)||Uncirculated (MS-65)||Proof (PR-63)|
|8 Feathers||$ 71||$ 161||$ 1,548||$ 3,499|
|7-over-8 Feathers||$ 74||$ 172||$ 2,308||–|
|7 Feathers (Parallel Arrow Feather)||$ 50||$ 84||$ 1,068||$ 3,485|
|7 Feathers (Slanted Arrow Feather)||$ 50||$ 102|| $ 2,115
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