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 twentieth century, but true connoisseurs and collectors continue to collect them around the world. Like any admirable item, the Morgan coin has an unfixed value, depending on many indicators.
Release period
First issued the Morgan dollar in the United States in 1878. The coin had a single denomination equal to $ 1. The release lasted 26 years until 1904. The temporary suspension of minting was associated with an excess of existing coins that were in circulation. The next (and last) issue of the Morgan dollar was in 1921. From that moment, the coin was no longer issued and ceased to be used.
History
The Morgan dollar was made specifically for the centennial of the independence of the United States of America (July 4, 1776), as well as for the anniversary of the War of Independence. The creator was a London designer, whose monogram is placed on the front of the dollar. A coin was minted from high-quality silver of Nevada of the 900th test. Production took place in several states with the assignment of a mark of a mint:
- In Philadelphia did not have a mint mark.
- In Carson City, the coins were assigned the “CC” sign.
- In Denver, the coins were assigned the sign "D".
- In New Orleans, coins were assigned the O sign.
- In San Francisco, coins were assigned the “S” sign.
Morgan Dollar Description
The front side of the coin depicts the left profile of the Statue of Liberty. Her head is adorned with a Phrygian cap, diadem and a round wreath consisting of cotton branches and spikelets. On the upper part above the head of Liberty in a semicircle is the motto of the US coat of arms: "E pluribus unum", which means "of many - one." At the bottom of the coin is the date of manufacture of this particular batch.
The reverse side of the coin depicts a bald eagle, which is the national symbol of the United States of America. Paws proud bird holds a branch of an olive tree and arrows, below under an eagle in a semicircle is an olive wreath. Initially, the tail of the eagle consisted of 8 feathers, later the number was reduced to 7. Over the head the inscription, made in the Gothic style: "In god we trust" - "We believe in God." Top caption: “United States of America” - “United States of America”. At the very bottom of the coin: “One dollar” - “One dollar”.
Morgan Silver Dollar Value
To begin with, it is worth noting that you can not buy a real Morgan dollar in any shop. To purchase a coin, you need to turn to professional numismatists or search at specialized auctions.
The price of the Morgan dollar varies from $ 80 to $ 100 per copy. The most important thing that affects the cost is the condition and deterioration of the coin. Numismatists distinguish several states of a coin, by which the quality that affects the value is evaluated:
- The rarest. The coin was not used, it has a clearly marked relief, the metal is shiny.
- Extremely good. In circulation, the coin was only a certain period, well preserved.
- Very good. The coin has been in circulation for a period, its condition is good, it has minor scuffs.
- Good. The coin was fully used, its condition is good, the relief is shabby in places, but the inscriptions are clearly visible and readable.
- Normal. The coin's condition is average, some elements are erased, there are small chips and scratches.
- Satisfactory. The coin is pretty well-worn, most of it is worn out, even the main images are poorly distinguished, some inscriptions are completely missing.
To accurately determine the state of coins in the United States from the middle of the twentieth century, the Sheldon scale is used. The system determines quality on a 70-point scale, where 70 is the perfect coin that has never been used.
Among collectors, it is coins that have the CC and S insignia that are popular. They are considered the most high-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 made first. They can be purchased or sold on average from $ 40 to $ 60.
How to distinguish a fake
Any collectible item may be unlawfully minted in order to obtain undeserved profit. Some online auctions directly report that they offer an exact copy of the coin, while others give out a fake for the original.
The main distinguishing 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, often do not control the exact weight, adding an excess 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. Gloss is the characteristic feature of these coins, because they were minted from high-quality silver. Many fakes give themselves away. As for scuffs, first of all, on the original copies, they appear on the chest of the eagle.