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Silver Dollars (1794-1978)

Silver Dollars (1794-1978)

Morgan Dollars were the Last to be Minted with Silver Brought into the U.S. Mint by the Public

The minting of the Morgan Dollar, in the U.S., was strongly influenced by Silver prices and the intrinsic value of Silver coins when compared with the face value. The Liberty Dollar was the last dollar minted prior to the Coinage Act of 1873, which was introduced to change the U.S. Silver policy so that U.S. currency was no longer backed by Silver. Prior to introducing the Morgans in 1878, and prior to the Act, the mint was obligated to mint Silver coins, like the Liberty Dollar, with Silver bullion brought in by the public, for a small fee. Many felt Silver dollars could no longer be minted this way because the cost to strike a dollar was considerably less than the face value.

Without the act, a Liberty Dollar would have been minted for a fraction of the price of its face value, which would have created an increase in the money supply, and inflation as a result. So, no dollars were produced until the Morgan Dollar in 1878, after the Bland-Allison Act was passed. With this Act, the Morgan Dollar debuted, replacing the Trade Dollar (circulation strikes 1873-1878) which was a trade coin and not currency. Under this act, the Morgan Dollar was produced by the mint with Silver purchased by the treasury at market value.

What's the value of my Dollar coin?

The value of your dollar coins depends on their Silver content, mintage, scarcity and condition. The most valued dollars among collectors and investors are the 1921 Morgan Silver dollar, which have great historical and numismatic value.

Popular Dollar Coins

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