Morgan Dollar Overview
One of the most popular coins with collectors, the Morgan Silver Dollar was produced in a prison term when the United States was seeing a great revolution in diligence and overall growth. Known as a coin that by and large retains its prize, the Morgan Dollar sees a large demand by collectors and investors alike. The new Morgan Dollar was commissioned after the passage of the Bland-Allison Act of 1873, which allowed the batch to begin purchasing big amounts of silver. Assistant mint engraver, George T. Morgan, designed the Morgan Dollar, which was promptly accepted by the batch and put into product in 1878. George Morgan ’ s silver dollar was minted from 1878 until 1904, where a deficit of flatware forced the mint to stop production. The Morgan Dollar was reintroduced in 1921 after the mint was able to build up its silver holdings. 1921 besides saw the introduction of the Peace Dollar, which stopped production of the Morgan Silver Dollar for good. On the Obverse of the Morgan Dollar is a bust of Liberty face left, with the date directly below. The words “ E PLURIBUS UNUM ” can be found centered above Liberty. Stars fill the space along the edges between the date and the beginning of the motto.
Morgan ’ s rearward features an eagle with unfold wings and olive branches and arrows in its talons. A wreath starting below the eagle encircles the design. The words “ UNITED STATES OF AMERICA ” and “ ONE DOLLAR ” are found near the edges of the coin. “ IN GOD WE TRUST ” is found directly above the eagle, but below the words found along the boundary .
History of the 1880 Morgan Dollar
Unlike other coins in the series, the 1880 Morgan Dollar had a relatively abject mintage rate. The US mint at Philadelphia reports producing only 12,600,000 examples. These low coinage numbers are why the 1880 Morgan Dollar is valued higher than other examples from the serial. The Pittman Act of 1918 saw the melt of approximately 270 million Morgan Silver Dollars of all years. Morgan Dollars besides saw melting in the early 1980s as silver prices were at an all-time high. This dissolve makes the batch ’ south production numbers void, with the real surviving number a lot lower than what is stated. Like all other Morgan Silver Dollars, the 1880 Morgan Dollar was made using a writing of 90 % argent and 10 % bull. The coin weighs in at 26.73 grams and has a diameter of 38.1mm. Reeding can be found on the edges and denticles are around both the obverse and inverse .
1880/79 Overdate Morgan Dollar
Like early early Morgan Dollars, the 1880 Morgan Dollar did have a mint error that is sought after by collectors. This error is considered a major error and carries a agio over normal strikes.
1880/79 Overdate variety is alone in that the date was applied directly over the previously years ’ date. This occurs when a previous die that was placid in available condition had the new date punched over the old date. Overdating helped save the mint money as dies were expensive to make, but the process was not meant to make parts of the previous date visible. To identify this mistake, one must look at the stopping point two digits in the date and see if they show any signs that a previous date was present. Most times, separate of a “ 7 ” can be seen on the “ 8 ” in “ 80 ”. Another telling partially is where the “ 9 ” from “ 79 ” can be seen on the raised parts of the “ 0 ” in “ 80 ”. magnification could be of practice when trying to find this error as parts of the ovedate are very hard to see. not many examples of this error were produced and it is identical rare to find nowadays. If you determine that your 1880 Morgan Dollar is an overdate, be certain to take it to a coin dealer for a second impression .
Value of the 1880 Morgan Dollar
low mintage, combined with the huge amounts melted by the government and consumers, makes the prize of the 1880 Morgan Dollar much higher than other dates.
average condition 1880 Morgan Dollars are valued somewhere around $ 28. Uncirculated examples in MS-60 retail for $ 47. Higher grades of MS-63 see a value of $ 65 and those in MS-65 see a huge increase to $ 675. For 1880/79 Morgan Dollars, Uncirculated MS-60 examples bring $ 100. An MS-65 example is projected to be worth $ 3,377 ! These huge increases in price over regular strikes are due to fewer examples available on the marketplace. Since an claim count on the total of 1880 Morgan Dollars remaining is not available, it is hard for collectors and dealers to accurately price the mint. Because of this doubt, the prices of 1880 Morgan Dollars may increase in value in the coming years .