Seldom has a coin design captivated the minds of coin collectors and investors like the Morgan Silver Dollar! The first batch of Morgan Silver Dollars were manufactured 1878. The first year, they were produced by 3 of the 5 US Mints at the time (Philadelphia, Carson City, and San Francisco) In total the 3 Mints produced about 22,486,000 Silver Dollars in 1878. Morgan Dollars were minted from 1878 – 1904, and again in 1921.
This coin was designed by the assistant Engraver at the US Mint in Philadelphia (George Morgan) from whom the dollar received its name “Morgan Silver Dollar”. Mr Morgan had his design for the coin chosen for the new dollar coin. George Morgan was only 31 years old at the time!
Fresh off the coin presses these coins were in the highest grade condition. Little did the citizens of the USA know at the time that these coins would years later become very valuable and highly sought after collectibles.
The Morgan Dollar is a very thick heavy coin (compared to today’s modern coinage) weighing in at 26.7 grams (there are 31.1 grams in an ounce) 38.1 mm wide and 2.4 mm thick. These beautiful coins contain 90% Silver and the remaining 10% is Copper.
Back around 1878 when these new dollar coins came into existence the average worker such as a blacksmith, carpenter or machinist made about .25 cents an hour! It would taken them about half a days labor just to earn one Silver Dollar. A weeks wage back then for a semi-skilled worker was about $10-$12 dollars depending. Keep in mind $10-12 dollars bought a lot of “Stuff” back then. A dozen eggs cost about .20 cents, a gallon of milk was .25 cents (delivered) and a pound of bacon cost .12 cents (imagine all the bacon you could buy!), You could also buy a pair of Levi Strauss Jeans for $1.10!
Just imagine the things you could of bought with your Morgan Silver Dollars if you had a time machine! Well actually that same Morgan Silver Dollar from way back when in 1878 would still purchase about the same amount of good and services (if not more) as it did 139 years ago. Morgan Silver Dollars have held their purchasing power over the years and in many cases appreciated enormously over time depending on their grade, date and mint mark. That’s the great thing about these coins, they are visually stunning and are a real tangible investment that you can cash in at any given time.
Endless amount of books and website posts have been written on the subject of Morgan Silver Dollars and I won’t even scratch the surface here. I hope at a minimum I have provoked your curiosity into these beautiful coins with this short article. They happen to be my favorite coin.
If you have any Morgan Silver Dollars that you want to sell or if you looking to invest in them – Feel free to call or email anytime.
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