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The Morgan Dollar series, spanning from 1878 to 1904, represents an iconic chapter in American coinage, encapsulating a period of economic expansion and technological advancement in the United States. These silver dollars are named after their designer, George T. Morgan, and they hold a special place in the hearts of collectors due to their rich history and exquisite design. Morgan Dollars are highly valued not only for their silver content but also for their historical significance and aesthetic appeal.
The design of the Morgan Dollar features a profile portrait of Lady Liberty on the obverse, which was modeled after Anna Willess Williams, deemed to represent the ideal American woman. The reverse showcases an eagle with outstretched wings clutching arrows and an olive branch, symbolizing America's readiness to defend its peace. The intricate details in the design, such as the delicate strands of Liberty’s hair and the feathers on the eagle, demonstrate Morgan's masterful artistry and have contributed to the coin's enduring popularity among numismatists.
This collection of Morgan Dollars from the years 1878 to 1904 is graded as About Good (AG), indicating that the coins show considerable wear on all high points of the design. Typically, in AG grade, the details of Liberty's hair and the eagle's feathers are nearly smooth, yet enough of the overall outline and major features remain to identify the coin. While these coins may lack the fine detail of higher-grade coins, they carry the charm and character of pieces that were actively used in commerce during their time.
Due to their significant wear, packaging these AG-grade Morgan Dollars carefully is essential to prevent further damage. Typically, these coins are individually housed in soft, acid-free flips or sleeves that protect them from environmental elements and handling while allowing easy viewing of both sides of the coin. For collectors, this level of packaging ensures that the coins are preserved in their current state and remain valuable pieces of numismatic history.
The mintage of Morgan Dollars was substantial during their initial run to fulfill the requirements of the Bland-Allison Act, which mandated the purchase of large quantities of silver to be coined into dollars. These coins were minted at several branches of the United States Mint, including Philadelphia, San Francisco, New Orleans, and later Denver. Despite the high mintage, many Morgan Dollars were later melted down, which has added to the scarcity and collectibility of surviving specimens, especially those from specific years or mints.
In summary, the Morgan Dollars from 1878 to 1904 in AG condition offer a tangible connection to the late 19th and early 20th centuries in America. These coins might not boast the pristine condition of less circulated examples, but they resonate with the history of the American economy and the people who used them. Collectors who value coins with historical stories as much as, or more than, their aesthetic and material worth will find these Morgan Dollars particularly appealing. Each coin serves as a historical artifact, representing an era of robust economic activity, vast silver mining endeavors, and significant developments in the American monetary system.