Table of contents:
- Issue period
- Description of the Morgan dollar
- Value of Morgan Silver Dollar
- How to spot a fake
The Morgan Silver Dollar, named after its designer George Morgan, is one of the most beautiful and rare coins in the world. Its release ended at the beginning of the 20th century, but true connoisseurs and collectors continue to collect them all over the world. Like any object of admiration, the Morgan coin has a floating value, depending on many indicators.
The Morgan dollar was first issued in the US in 1878. The coin had a single denomination equal to $1. The issue lasted 26 years until 1904. The temporary suspension of minting was due to the excess of already existing coins that were in circulation. The next (and last) issue of the Morgan dollar was in 1921. From that moment on, the coin was no longer issued and ceased to be used.
The Morgan dollar was made especially for the centenaryIndependence of the United States of America (July 4, 1776), as well as the anniversary of the Revolutionary War. The creator was a London designer, his monogram is placed on the front of the dollar. The coin was minted from high-quality 900-carat Nevada silver. Production took place in several states with the assignment of the mark of a particular mint:
- Philadelphia didn't have a mintmark.
- In Carson City, coins were given the CC mark.
- In Denver, the coins were assigned the sign "D".
- In New Orleans, coins were assigned the sign "O".
- In San Francisco, coins were assigned the "S" sign.
Description of the Morgan dollar
The front side of the coin depicts the left profile of the Statue of Liberty. Her head is decorated with a Phrygian cap, a diadem and a round wreath consisting of cotton branches and spikelets. On the upper part above the head of Liberty, the motto of the US coat of arms is located in a semicircle: "E pluribus unum", which means "Out of many - one." The date of manufacture of this particular batch is indicated at the bottom of the coin.
The reverse side of the coin depicts a bald eagle, which is the national symbol of the United States of America. With its paws, the proud bird holds a branch of an olive tree and arrows; below, under the eagle, there is an olive wreath in a semicircle. Initially, the eagle's tail consisted of 8 feathers, later the number was reduced to 7. Above the head is an inscription made in the Gothic style: "In god we trust" - "We believe in God." The main inscription of the upper part:"United States of America" - "United States of America". At the very bottom of the coin: "One dollar" - "One dollar".
Value of Morgan Silver Dollar
For starters, it's worth noting that you can't buy a real Morgan dollar in any shop. To purchase a coin, you need to contact professional numismatists or search at specialized auctions.
The price of a Morgan dollar varies from $80 to $100 per piece. The most important thing that affects the value is the condition and wear of the coin. Numismatists identify several states of the coin, according to which the quality that affects the value is evaluated:
- The rarest. The coin has not been used, has a clearly marked relief, the metal shines.
- Extremely good. The coin was in circulation only for a certain period, well preserved.
- Very good. The coin was in circulation for a certain period, the condition is good, it has minor abrasions.
- Good. The coin was fully used, the condition is good, the relief is worn in places, but the inscriptions are clearly visible and readable.
- Normal. The condition of the coin is average, some elements are erased, there are small chips and scratches.
- Satisfactory. The coin is fairly worn, most of it has been erased, even the main images are slightly distinguishable, some inscriptions are completely missing.
To accurately determine the state of coins in the United States since the middle of the twentieth century, the Sheldon scale has been used. The system determines the quality on a 70-point scale, where 70 is an ideal coin, neverused.
It is the coins with the CC and S distinctions that are popular among collectors. They are considered the highest quality, because their cost is quite high compared to the rest.
The price of coins issued by the last batch in 1921 is slightly lower than those that were made first. They can be bought or sold for an average of $40 to $60.
How to spot a fake
Any collectible can be illegally minted for undeserved profits. Some online auctions directly state that they offer an exact copy of the coin, while others pass off a fake as the original.
The most important feature of the original Morgan dollar is the weight of the coin. With a diameter of 38 mm, its weight should be 26-27 grams. In the manufacture of fakes, the exact weight is often not controlled, adding an extra amount of metal, which, in turn, is not always pure silver.
You also need to pay attention to the relief, wear and shine of the metal. It is the brilliance that is a characteristic feature of these coins, because they were minted from high-quality silver. Many fakes and give themselves away. As for scuffs, they first appear on the original copies on the chest part of the eagle.