Buy Morgan Silver Dollars Online from CBMint
Buy Morgan Silver Dollars Online
The Coinage Act of 1873 ended production of the Seated Liberty Silver Dollar, along with several other US circulation coins. Significantly, the Act also ended the free coining of silver (the issue of free silver and coinage bimetallism was a heated issue at the end of the 19th century.) Silver mining interests pushed for free silver, as the United States Mint would be forced to accept all silver given to it and return it in the form of silver coins. The Bland-Allison Act was passed instead, requiring the government to purchase and coin substantial silver mine output each month. With the repeal of this Act (and its successor, the Sherman Silver Purchase Act), production of Morgan Silver Dollars ceased once the already-stockpiled silver reserves were depleted in 1904. After World War One, the Pittman Act allowed for the melting and recoining of millions of silver dollars, so 1921 saw resumption of the public buying Morgan Silver Dollars, though the Peace Silver Dollar quickly superseded the Morgan that same year.
Though collectors at the time loved to buy Morgan Silver Dollars, the coin did not circulate widely and there was generally not much need for them. Indeed, in the 1960's the US Treasury located a huge number of Morgan Silver Dollars in their vaults. Initially, the Treasury allowed individuals to buy Morgan Silver Dollars at face value, but quickly ended the practice. Because many Morgan Silver Dollar coins did not circulate widely, high-grade specimens are widely available, especially prevalent among 1921 Morgan Silver Dollars. The iconic American Silver Dollar, collectors have been buying Morgan Dollars for decades, and many collectors are entirely comprised of this coin.
Design of the Morgan Silver Dollar
The Morgan Silver Dollar coins are named after the engraver who designed the coin, George Morgan. Morgan was an employee of the Royal Mint in London who was loaned to the US Mint for six months, during which time he was responsible for what is probably the most famous coin design in American history. The Liberty Head profile on the obverse of the Morgan Dollar is modeled after Anna Williams, whose profile George Morgan admired. The reverse is a heraldic eagle, a common design on US coinage.
Buying Morgan Silver Dollars Online
Fortunately, Morgan Silver Dollars circulate widely, even among buyers who invest in silver bullion. Coin collectors, of course, are responsible for most of the trading of Morgan Silver Dollars. Though available in most local coin shops, collectors get substantial price breaks when they buy Morgan Silver Dollar coins online. Additionally, buying Morgan Dollars online does not chain you to the limited selection available at a coin shop -- online coin dealers like CBMint have access to all possible grades and dates of Morgan Silver Dollars. CBMint, a full member of the American Numismatic Association, is the best place to buy Morgan Silver Dollars online, as we have the lowest prices in the industry and our coins possess unimpeachable authenticity.