The Morgan and Peace silver dollars are two of the most iconic and highly sought-after coins in American history. Both coins were minted during a time when silver was plentiful in the United States, and their history is closely tied to the economic and political developments of the late 19th and early 20th centuries.
Both the Morgan and Peace rare silver dollars are highly prized by collectors today. Their high silver content, beautiful designs, and historical significance make them sought-after by numismatists and investors alike.
History of the Morgan Silver Dollar
The Morgan silver dollar was first minted in 1878, following the passage of the Bland-Allison Act of 1878, requiring the U.S. Treasury to purchase two to four million dollars worth of silver each month and coin it into silver dollars. The coins were named after their designer, George T. Morgan, who was an assistant engraver at the U.S. Mint in Philadelphia. Morgan’s design featured a portrait of Lady Liberty on the Obverse, with an eagle and a wreath on the reverse.
The Morgan silver dollar was initially met with mixed reviews. Some people praised its beautiful design and high silver content, while others criticized it as too bulky and heavy. However, over time the coin became increasingly popular, and by the early 20th century, it was considered one of the most important coins in American numismatic history. It is now one of the most sought-after rare silver dollars on the market.
The Morgan silver dollar was minted until 1904, when production was stopped due to a shortage of silver bullion. However, in 1921, the U.S. Mint resumed production of the coin for one final year, in response to the passage of the Pittman Act of 1918, which authorized the melting and recoinage of millions of silver dollars that had been stored in U.S. government vaults.
History of the Peace Silver Dollar
The Peace silver dollar was introduced in 1921, following the end of World War I and the signing of the Treaty of Versailles. The coin was designed by Anthony de Francisci, an Italian-American artist who won a competition held by the U.S. Mint to create a new silver dollar design. De Francisci’s design featured a portrait of Lady Liberty on the Obverse, with a bald eagle perched on a branch on the reverse.
The Peace silver dollar was initially popular with collectors, but it never achieved the same level of popularity as the Morgan silver dollar. Part of the reason for this was that the coin was only minted for a relatively short period – production ceased in 1935 – and it was minted in smaller quantities than the Morgan silver dollar. Additionally, the Peace silver dollar was never used for regular commerce to the same extent as the Morgan silver dollar.
Adding One (or Both) of These Rare Silver Dollars to Your Collection
Over the years, the Morgan and Peace silver dollars have come to represent more than just currency, they are symbols of American history. They are also tangible reminders of a time when silver was abundant in the United States, and when the nation’s currency was tied to the value of precious metals. Today, they are highly prized by collectors and investors, who appreciate their beauty, rarity, and historical significance.
