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Morgan Silver Dollars

October 31st, 2011 Coins

The Morgan silver dollar is one of the most popular silver coins minted by the U.S. government. It's generally considered to be more popular than $20 gold pieces, type coins and commemorative coins. Many collectors believe the coin represents the golden age of coin design and stands as a symbol of the Old West - recalling stories of mining towns and stagecoach deliveries.

According to GoldDealer.com, the coins were produced in large quantities because of a deal between the U.S. Mint and Nevada's silver producers. The silver producers of the Comstock Lode had too much silver, while America had many unemployed workers. This lead to the Bland-Allison Act of 1878, which authorized the creation of the Morgan dollar. The silver from the Comstock Lode was used to make large amounts of Morgan silver dollars to help with the unemployment problem. While the plan had good intentions, it ended up producing much more coins than necessary - so many that storage became an issue. Eventually, under The Pittman Act of 1918, around 300 million of these coins were melted, making the remaining examples prized possessions for collectors.

The design for the coin was created by George T. Morgan and features the lady of Liberty on the front and an eagle with widespread wings on the back. Minting began in 1878 and continued up until 1921. It has a high silver content with the rest made up of copper, which is partly why it's so valued.

If you're looking for a silver coin to add to your collection, there's no better choice than the Morgan silver dollar. Its rich history and gorgeous design has made it a favorite among many coin enthusiasts, and many believe that no collection is complete without it.