Sell Morgan Dollars to the Best Buyer in Las Vegas & Henderson
The Morgan Dollar was the first ever standard silver dollar minted since the Coinage Act of 1873 was established, which ended the free coining of silver and the production of the Seated Liberty diollar.
After the Coinage Act of 1873 came to be established, the Bland-Allison Act was passed, which authorized the coinage of the Morgan Dollar and required the Treasury to purchase around 4M dollars’ worth of silver at market value. These pieces of silver were to be coined into dollars every month.
In 1890, the same Act was repealed by the Sherman Silver Purchase Act, which required the Treasury to purchase 4.5M ozt or around 140,000 kg of silver monthly and continue further productions of silver doolars for only one more year. However, in 1893, this act was repealed once more.
In the year 1904, silver reserves became depeleted. Hence, the halt in the production and striking of the Morgan Dollar. Mintage of the Morgan dollar only resumed in 1921, pursuant to the Pittman Act, which authorized the melting and recoining of silver dollars.
Coins minted by the US Government are still accepted as legal tender. As a special coin, however, the value of a Morgan Dollar coin heavily relies on the spot price of silver in the market rather than its numismatic value. This is why is you wish to sell your Morgan Dollar, you should keep track of silver’s spot price. You can learn more about it here: https://www.kitco.com/silver-price-today-usa/.
Morgan Dollar buyers also consider a number of other factors including the coin’s condition, production year, its mint mark, and design.
The Morgan Dollar coin was named after its designer, George T. Morgan – the United States Mint Assistant Engraver at the time. The coin’s obverse features a profile of the model Anna Willess Williams representing Liberty. On the other hand, the coin’s reverse depicts an eagle that has its wings stretched out. If present, the mint mark on a Morgan dollar appears on the back of the coin, above the letter “o” in the work “Dollar.”