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The 1882 Morgan Silver Dollar is a significant coin in U.S. numismatics, highly valued by collectors and investors alike. This coin was minted in the latter part of the Morgan Dollar series, which ran from 1878 to 1904, and was briefly revived in 1921. The Morgan Dollar, named after its designer, George T. Morgan, was struck by the U.S. Mint to serve as the country’s primary silver coin during the late 19th century. The 1882 issue is part of the series’ remarkable legacy, and its status as a key date in the series has made it highly sought after by collectors. The coin is composed of 90% silver and 10% copper, weighing 26.73 grams and measuring 38.1 mm in diameter, making it a notable example of late 19th-century American coinage.
The history of the 1882 Morgan Silver Dollar is tied to the larger context of the coin’s production. Following the discovery of vast silver deposits in the western United States, the U.S. government sought to monetize silver through coinage. The Morgan Dollar was the result of a coinage act passed in 1878, and its design was selected through a competition. George T. Morgan’s winning design featured Lady Liberty on the obverse, with a flowing hair design that was intended to represent the nation’s ideals of freedom and progress. On the reverse, the coin displayed a majestic eagle perched on a bundle of arrows and an olive branch, symbolizing strength and peace. The design became iconic, and the Morgan Dollar quickly became one of the most beloved coins in U.S. history.
The 1882 Morgan Silver Dollar features the characteristic design that makes the series so recognizable. The obverse showcases Lady Liberty with her hair adorned by a ribbon and the word "LIBERTY" inscribed on her diadem. Surrounding her are thirteen stars, representing the original thirteen colonies, with the date "1882" below her neck. The reverse features the heraldic eagle, with its wings spread wide, clutching arrows in one talon and an olive branch in the other. The eagle’s motto, "E PLURIBUS UNUM," is inscribed on a banner above the eagle, and the coin’s denomination of "ONE DOLLAR" is boldly displayed. The mint mark for the 1882 Morgan Dollar, located under the eagle’s tail, indicates where the coin was produced. The mint marks for the 1882 Morgan Dollar include Philadelphia (no mintmark), New Orleans (O), and San Francisco (S), with the Philadelphia mint being the primary producer.
The 1882 Morgan Silver Dollar has an interesting mintage history, with different quantities struck at different mints. The total mintage for the 1882 issue was over 17.7 million coins, with the majority of these struck at the Philadelphia Mint. Smaller numbers were minted at the New Orleans and San Francisco mints, making coins from these branches rarer and more highly valued by collectors. The 1882-O and 1882-S are particularly sought after for their limited mintage numbers and unique characteristics. Over time, many of the 1882 Morgan Dollars were melted down or otherwise lost, making those in good condition particularly rare and valuable. The survival rate of these coins in higher grades further contributes to their desirability.
The coin in question, a Certified Morgan Silver Dollar 1882 MS64 NGC Toning, is graded at an impressive MS64 by the Numismatic Guaranty Corporation (NGC). The MS64 grade indicates that the coin is in near mint condition, with only minimal signs of wear visible under magnification. The coin’s surfaces should retain much of its original luster, with only slight friction on the high points of the design. Coins graded MS64 are highly prized by collectors, as they strike a balance between excellent condition and affordability compared to higher-grade coins like MS65 or MS66. The toning on this particular coin further enhances its visual appeal, as it adds an aesthetically pleasing and distinctive appearance that many collectors find attractive. Toning occurs when the coin’s surface reacts with elements in the air, creating a range of hues, such as blue, purple, green, and gold. The presence of toning can also add an element of uniqueness to the coin, making it stand out among other Morgan Dollars.
The quality of this coin has been certified by NGC, a leading third-party coin grading service, ensuring its authenticity and the accuracy of its grade. NGC’s grading system is highly respected in the numismatic world, and a coin graded by NGC carries significant credibility among collectors. The MS64 grade means the coin is in excellent condition, with very few imperfections visible under magnification. This coin is a valuable piece for collectors who appreciate well-preserved examples of iconic U.S. coinage. As with all Morgan Dollars, the 1882 MS64 NGC Toning coin is highly regarded for its historical significance, artistic design, and role in the American monetary system during the late 19th century.
Collectors of Morgan Silver Dollars often seek out high-quality coins with distinct features like toning, and the 1882 MS64 NGC Toning coin fits this demand perfectly. The coin’s historical context, striking design, and rarity contribute to its enduring popularity among collectors. As a part of the Morgan Dollar series, this coin is often sought after by those who specialize in U.S. silver coinage and the history of the late 1800s. With a relatively high mintage and substantial surviving numbers, the 1882 Morgan Dollar remains one of the more accessible coins in the Morgan Dollar series, but its toning and high-grade status elevate it to a more desirable level for serious collectors.
In conclusion, the 1882 Morgan Silver Dollar in MS64 NGC Toning is a standout piece in the world of U.S. coinage. With its rich history, beautiful design, and remarkable condition, this coin represents a key moment in the development of American currency. Its combination of attractive toning, historical significance, and high-quality preservation make it an excellent addition to any collection. Whether for its beauty, rarity, or place in the broader context of American coinage, the 1882 Morgan Silver Dollar will continue to be a treasured piece for numismatists and collectors alike for years to come.