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George T. Morgan’s classic design makes the Morgan Dollar highly desirable to collectors and investors around the world. The Morgan Silver Dollar is the most popular Silver dollar in the world.
From 1878-1921 the Morgan Dollar designed by George T. Morgan was the most famous & collected silver dollar worldwide. It came a year after the end of the Long Depression which had begun the Panic of 1873 & lasted until 1879. The reason for the depression was the 1873 Coinage Act, called the Crime of ’73’, which demonetized silver & temporarily ended the production of silver coins for the American Economy & with a failure of an American Railroad many investors & companies went into bankruptcy & Wall Street into Chaos. So with the depression raging on & the public jobless, Congress finally authorized to circulate new silver coinage, the Morgan Dollar was the largest & heaviest coin produced since the Civil War. Made at the U.S. Mint in Carson City, NV. who had the lowest mintage of silver dollars made them the most valued. People referred to it as the “Cartwheel”, because of the Wagon Trains headed West to the Comstock Lode Silver Boom.
Date of authorization: Feb. 28, 1878
Dates of issue: 1878-1921
Designer/Engraver: George T. Morgan
Diameter: 38.10 mm/1.5 inches
Weight: 26.73 grams/0.86 ounce
Mint mark: Reverse below eagle