The Morgan Silver Dollar is a very popular product among coin collectors in the United States. Coin collecting has itself been a very popular pastime among many people for hundreds of years and its popularity has remained undiminished by the passage of time. They are collected for various different reasons, which differ from collector to collector, but are usually one or a mixture of historical, nostalgic or monetary purposes, the latter usually for investment.
The Morgan Silver Dollar in particular is a coin with a very rich and fascinating history attached to it, and the majority of collectors know that knowing and understanding that history is a big part of why the coins are as valuable as they are.
The design of the Morgan Silver Dollar is credited to one George T Morgan, who created the designs on both the obverse and the reverse side of the coin. Legend has it that the design on the obverse side of the coin, which is referred to as the “Lady Liberty”, is in actual fact a portrait of a woman known as Anna Williams, who would later go on to gain acclaim all over the United States as “Miss Liberty”. Morgan’s monogram can actually be seen close to the neck of this “Lady Liberty”. On the reverse side of the coin there is an image of an eagle, which is holding both arrows and olive branches in its feet. The combination of arrows, which signify war, and olive branches, which are believed to denote peace, is an image that symbolized the beginning of a new era of both peace and military strength for the United States.
In terms of their precious metal content, Morgan Silver Dollars usually contain around 24 grams of silver per coin. The coins were manufactured for twenty years between 1878 and 1904 and then one last time seventeen years later in 1921.
The coins were actually not very popular at the time, partly because many thought the image of the eagle on the reverse side of the coin looked more like a scrawny buzzard, hence the coin attracting the unflattering nickname of “the Buzzard Dollar”. It wasn’t until after more than two million Morgan Silver Dollars were melted down into bars after the silver shortage of 1904 that they started to become a rarity, and thus valuable. Today, the value of Morgan Silver Dollars is dependant on both the location where the minting of the coin took place, and the coin’s overall quality.