The Morgan Silver Dollar is one of the best-known coins in American history. First struck in 1878, it appeared during a period of western expansion, rapid industrial growth and enormous silver production in the United States. Its distinctive portrait of Liberty and large size have made the Morgan Dollar a favorite of collectors for generations.
Silver, the West and the Birth of the Morgan Dollar
The story of the Morgan Dollar is closely connected to the great silver discoveries of the American West, particularly Nevada's Comstock Lode. As domestic silver production increased, the role of silver in the nation's monetary system became the subject of intense economic and political debate.
The Bland-Allison Act of 1878 restored the standard silver dollar and required the U.S. Treasury to purchase silver for coinage. The new dollar retained the established standard of 90% silver and 10% copper and weighed 26.73 grams.
George T. Morgan and a New Liberty
The coin was designed by George T. Morgan, an English-born engraver who joined the United States Mint in 1876 and later served as Chief Engraver from 1917 until his death in 1925.
Morgan departed from earlier interpretations of Liberty. The obverse shows Liberty in profile wearing a cap, agricultural elements and a crown bearing the word LIBERTY. Thirteen stars surround the portrait along with the inscription E PLURIBUS UNUM and the date.
The reverse features an eagle with outstretched wings holding arrows and an olive branch, surrounded by a wreath. The inscriptions include UNITED STATES OF AMERICA, IN GOD WE TRUST and ONE DOLLAR.
Five Mints and Famous Mint Marks
Historic Morgan Dollars were produced at five United States Mint facilities. Philadelphia coins normally carry no mint mark, while coins from Carson City, New Orleans, San Francisco and Denver can carry CC, O, S and D mint marks respectively.
The first Morgan Dollars were struck at Philadelphia in 1878. Carson City and San Francisco joined production that year, followed by New Orleans in 1879. Carson City Morgans are especially associated with the great western silver-mining era because the mint was located near Nevada's major silver deposits.
Denver's connection to the original Morgan Dollar is unique: the Denver Mint struck Morgans only in 1921.
Why Did Morgan Dollar Production Stop?
Regular Morgan Dollar production continued through 1904. By then the government's supply of silver purchased under earlier legislation had been largely exhausted, and production ceased.
The Morgan Dollar unexpectedly returned in 1921. Under the Pittman Act of 1918, hundreds of millions of older silver dollars had been melted, and the law required replacement coins to be struck from newly purchased domestic silver. The familiar Morgan design was brought back while preparations were made for a new silver dollar.
The Final Morgan Dollars of 1921
In 1921, Morgan Dollars were produced at Philadelphia, San Francisco and, for the first and only time, Denver. Later that same year, Treasury Secretary Andrew Mellon approved the new Peace Dollar, ending the original Morgan Dollar series.
The transition from Morgan to Peace Dollar marked a striking change in American coinage. The Morgan had become associated with the country's western expansion and industrial development, while the Peace Dollar commemorated the peace that followed World War I.
Historic Morgan Silver Dollar Specifications
| Denomination | One Dollar |
|---|---|
| Original Issue Years | 1878–1904 and 1921 |
| Composition | 90% silver, 10% copper |
| Weight | 26.73 grams |
| Diameter | 38.1 mm |
| Edge | Reeded |
| Designer | George T. Morgan |
Historic Morgans and Modern Morgan Dollars
The United States Mint revived the Morgan design in 2021 for its centennial and has continued producing modern collector editions. These newer Morgan Dollars should not be confused with the historic coins struck from 1878–1904 and in 1921. Modern issues are produced in .999 fine silver, while the original Morgan Dollars were made from the traditional 90% silver and 10% copper alloy.
The Morgan Silver Dollar at CoinCrafters
CoinCrafters uses genuine historic 1878–1904 and 1921 Morgan Silver Dollars to create our Morgan Silver Dollar Coin Ring. Each ring begins as an authentic 90% silver U.S. Morgan Dollar, which is formed and finished by hand while preserving recognizable elements of the original coin.
The Morgan Dollar is also featured in our Morgan Silver Dollar Coin Ring Gift Set and our Colorized Morgan Silver Dollar Coin Ring.
Sources & Further Reading
This history was prepared using information from the United States Mint. For additional information, visit the U.S. Mint's One Hundred Years of Silver Dollar Coinage, Dollar Coins history, and Morgan and Peace Dollar Anniversary Coins information.