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The Certified Morgan Silver Dollar 1878 7/8TF MS63 ICG is a remarkable piece of numismatic history, capturing the inception of the iconic Morgan Dollar series. This coin, graded MS63 by the Independent Coin Graders (ICG), stands out for its historical significance, intricate design, and exceptional preservation. It is a highly sought-after item for collectors and investors who appreciate the rich legacy and craftsmanship of American coinage.
The Morgan Silver Dollar was minted from 1878 to 1904, and then again in 1921. It was named after its designer, George T. Morgan, an English engraver who joined the U.S. Mint in 1876. The coin was introduced following the Bland-Allison Act, which required the U.S. Treasury to purchase large quantities of silver to be coined into dollars. This legislation aimed to support the struggling silver mining industry and increase the money supply, making the Morgan Dollar a symbol of American prosperity and westward expansion during the late 19th century.
The obverse of the Morgan Silver Dollar features a profile portrait of Liberty, modeled after Anna Willess Williams, a Philadelphia schoolteacher. Liberty is depicted wearing a Phrygian cap adorned with wheat and cotton, symbolizing America’s agricultural heritage. Surrounding Liberty are the words "E PLURIBUS UNUM," the year of issue (1878), and thirteen stars representing the original colonies. This design is both intricate and symbolic, reflecting Morgan's artistic talent and the ideals of the nation during that period.
The reverse of the coin showcases a majestic bald eagle with outstretched wings, clutching an olive branch and arrows in its talons, symbolizing peace and readiness for war. Above the eagle is the inscription "UNITED STATES OF AMERICA," and below it, the denomination "ONE DOLLAR." The reverse also prominently features the motto "IN GOD WE TRUST" above the eagle's head. This particular coin is notable for its "7/8 Tail Feathers" variety, which was a transitional design where the original eight tail feathers were altered to seven by over-punching, creating a unique and historically significant issue.
The 1878 Morgan Silver Dollar was produced at the Philadelphia Mint, the first year of Morgan Dollar production. The Philadelphia Mint, established in 1792, was the first official mint of the United States, and its products are highly regarded for their detailed craftsmanship and historical significance. This specific variety, with the 7/8 tail feathers, marks an important transition in the series' design evolution and adds a layer of historical intrigue and desirability to the coin.
The mintage of the 1878 Morgan Silver Dollar, including the 7/8TF variety, was significant as it marked the beginning of the Morgan Dollar series. Despite the substantial mintage, finding coins in MS63 condition is relatively rare. Most coins from this era have been circulated or stored in less-than-ideal conditions, leading to wear and imperfections. Well-preserved coins, like this MS63 example, are highly prized by collectors for their beauty and historical significance.
The condition of the Certified Morgan Silver Dollar 1878 7/8TF MS63 ICG is a key factor in its appeal. The MS63 grade from ICG indicates a coin in uncirculated condition, with strong luster, sharp details, and minimal marks or abrasions. This level of preservation is relatively uncommon, as most coins of this age show signs of wear or handling. The certification by ICG, a respected third-party grading service, adds an extra layer of trust and assurance for buyers, confirming the coin's authenticity and grade.
The preservation of this coin ensures that its intricate details and historical significance are maintained. The obverse and reverse designs are crisp and clear, with Liberty's profile and the eagle's feathers exhibiting exceptional detail. The luster of the coin is bright and attractive, enhancing its visual appeal. The coin's surfaces are remarkably clean, with only minor imperfections that are not easily visible to the naked eye. This high level of preservation makes the Certified Morgan Silver Dollar 1878 7/8TF MS63 ICG a standout piece.
Owning a Certified Morgan Silver Dollar 1878 7/8TF MS63 ICG is not only an investment in silver but also in American history and artistry. This coin represents a period of significant growth and development in the United States, and its preservation allows collectors to appreciate the craftsmanship and symbolism of a bygone era. Whether for its numismatic value or its historical significance, this Morgan Dollar is a cherished addition to any collection.