The Morgan Silver Dollar, made from 1878 to 1921, is one of the most famous and collectible coins in American history. People love these coins for their beauty, silver content, and the story they tell about U.S. history. In this guide, we’ll help you understand the basics of the Morgan Silver Dollar, especially coins graded from VG (Very Good) to XF (Extremely Fine). This guide is perfect for anyone new to collecting!
History of the Morgan Silver Dollar
How It All Began
The Morgan Silver Dollar came to life in 1878 after the U.S. government passed a law called the Bland-Allison Act. This act required the government to buy large amounts of silver to support the silver mining industry, leading to the creation of millions of silver dollars. The coin was designed by George T. Morgan, who gave the coin its famous name. After the first run of Morgan Dollars, they stopped making them in 1904 due to a decrease in silver demand. But in 1921, the coin was brought back for one final year before being replaced by the Peace Dollar.
Where They Were Made
Morgan Dollars were made in several mints across the U.S., and each mint left a unique mark on the coin. Below is a table showing where Morgan Dollars were made and their mint marks:
| Mint Location | Mint Mark | Years Minted |
|---|---|---|
| Philadelphia | None | 1878-1904, 1921 |
| New Orleans | O | 1879-1904 |
| San Francisco | S | 1878-1904, 1921 |
| Carson City | CC | 1878-1885, 1889-1893 |
| Denver | D | 1921 only |
Coins from the Carson City Mint (marked “CC”) are especially rare and valuable because fewer were made, but VG-XF grades make these coins more affordable for beginner collectors.
The Design of the Morgan Silver Dollar
Obverse Design (Front)
On the front of the Morgan Dollar, you’ll see Lady Liberty wearing a cap decorated with wheat and cotton, symbols of America’s agriculture. The words “E PLURIBUS UNUM” (Latin for “Out of many, one”) are shown above her, along with the year the coin was made. George T. Morgan used Anna Willess Williams, a schoolteacher from Philadelphia, as the model for Lady Liberty.
Reverse Design (Back)
The back of the coin features an eagle with its wings spread wide, holding arrows and an olive branch to represent both war and peace. Surrounding the eagle are the words “UNITED STATES OF AMERICA” and “ONE DOLLAR,” with “IN GOD WE TRUST” above the eagle’s head.
Understanding Coin Grades: VG to XF
Morgan Silver Dollars are graded based on their condition, which affects their value. Coins graded between VG and XF show different levels of wear but still retain much of their design. Here’s a breakdown of what these grades mean:
| Grade | Condition Description |
|---|---|
| VG (Very Good) | Significant wear, with the main features visible but the finer details like Liberty’s hair and the eagle’s feathers worn away. The rim may show some flattening. |
| F (Fine) | Moderate wear, with more details visible. You can see more of Liberty’s hair and the eagle’s wings, but the design is still worn. |
| VF (Very Fine) | The coin shows light wear with most of the design clear. Liberty’s hair and the eagle’s wings are more defined, and the rim is sharp. |
| XF (Extremely Fine) | Minimal wear on high points like Liberty’s hair and the eagle’s feathers. Most details are clear, and the coin looks close to uncirculated. |
Why Collect VG-XF Morgan Silver Dollars?
Affordable and Historical
Morgan Dollars in VG-XF grades are a great choice for collectors because they are affordable compared to coins in mint condition, but they still have a lot of historical value. These coins were minted over 100 years ago and were part of everyday life in the United States.
Real Silver Content
Each Morgan Dollar contains 0.77344 troy ounces of silver, making them valuable not only to collectors but also to those interested in silver bullion. Even though they have some wear, the silver content is still the same, adding extra value.
Building a Collection
One fun goal for collectors is to complete a set of Morgan Dollars by collecting one from each mint and each year they were made. By choosing coins in VG-XF condition, you can collect a full set without spending a fortune.
Conclusion
Collecting Morgan Silver Dollars in grades VG to XF offers an exciting way to connect with American history, own real silver, and enjoy a hobby that can grow over time. These coins are affordable, packed with history, and perfect for both beginner and experienced collectors. Whether you’re completing a set or just starting out, Morgan Silver Dollars are a great investment in both knowledge and value.
FAQ’s
What is a Morgan Silver Dollar?
The Morgan Silver Dollar is a U.S. coin minted from 1878 to 1921. It was designed by George T. Morgan and contains 90% silver. Collectors prize it for its historical significance, beautiful design, and silver content.
What does VG-XF mean in coin collecting?
VG (Very Good) to XF (Extremely Fine) are grades that describe the condition of a coin. VG coins have noticeable wear but retain major details, while XF coins show minimal wear and retain most of their original details.
Why should I collect Morgan Silver Dollars in VG-XF grades?
Morgan Silver Dollars in VG-XF grades are more affordable than uncirculated coins, making them perfect for beginners. They still retain much of their detail and historical value while containing real silver.