1881 S Morgan Dollars
Lot 2004
- Listing Type:
- This item is For Sale - Buy It Now
- Quantity:
- 1 available for sale
- Buy It Now For:
- $48.00
- Shipping:
- $5.00 USPS Priority Mail (2 to 3 business days) - (more details)
- Returns:
- Returns are not Accepted - (more details)
- Certified by:
- Raw / Unspecified
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- 163 views
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Item Description
From 1794 to 1878 the U.S. Mint never made large numbers of Silver Dollars. This was due to the fact that the Spanish Pieces of Eight were legal tender in the U.S. up to 1859, and not many more silver dollars were required to fuel commerce.
In 1873 a "panic" gripped the nation. This was an economic contraction, and was what we now call a Depression.
Due to the slowdown in commerce, some members of Congress pushed for the Mint to strike a new Silver Dollar. They felt that by getting these large coins into the hands of Americans, the economy would pick up.
Congress passed the Bland-Allison Act in 1878, over the veto of President Rutherford Hayes. The law required the U.S. Mint to buy several million dollars worth of silver every month and strike it into Silver Dollars.
Mint engraver Charles Morgan designed the new dollar coin. It came to be known as the Morgan Silver Dollar.
From 1878 to 1904 and then again in 1921, millions of Morgan Dollars were minted at several different mints around the country.
The San Francisco Mint struck Morgans every year they were minted. The quality of coins from the "Granite Lady" one of the few buildings, by the way, to survive the Great Earthquake of 1906 intact, is almost always excellent.
In 1893, another panic hit. From 1893 to 1896, few Morgans were struck, and these are generally the rarest of all. No business strike coins (coins made for circulation) were struck at Philadelphia in 1895, only proofs. The proof 1895 Morgan is the "King of all Morgans."
Yearly Morgan Dollar production ceased in 1904.
In 1918, Congress passed the Pittman Act. World War I was at its peak, and many millions of dollars were needed to win the victory. The Act stipulated that the Morgan Dollars had to be melted to obtain their precious silver to pay for the war.
Morgans were tossed into the melting pot by the thousand-coin bag. No thought was paid to the scarcity of the dates being melted. Any Morgans they could get their hands on, were gone.
After the War, in 1921, production of Morgan Dollars resumed, but for just one year. They were minted at Philadelphia, Denver, and San Francisco.
Millions more Morgan Dollars were melted during World War II.
Payment and Shipping Details
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- United States Shipping services available:
| Shipping / Handling Cost | Service |
|---|---|
| $5.00 | USPS Priority Mail (2 to 3 business days) |
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