1878 Morgan Silver Dollar
Morgan Dollars are among the most popular of all United States coinage. The series was introduced in 1878 and minted continuously until 1904, and again in 1921. The coins were generally struck in large quantities at a total of five different nationwide Mints. Whereas most issues of the series are readily available, there are some issues with low mintages or which saw heavy circulation. These mintage and condition rarities are highly sought by collectors. Some coins also display proof like qualities or have deep mirror proof like surfaces. These coins often command significant premiums and are the focus of high end collectors.
- 1878 Cc Morgan Silver Dollar
- 1878 Morgan Silver Dollar Value
- 1878 Morgan Silver Dollar Bu
- 1878 Morgan Silver Dollar 7 Feathers
1878 Cc Morgan Silver Dollar
The silver dollar denomination has long been regarded as the cornerstone of the American monetary system. First minted in 1794 at the Philadelphia Mint, it was among the first silver coins struck under the name of the United States of America. However, before the Morgan Dollar series began, the denomination had often experienced long interruptions in production and often the pieces were virtually nowhere to be found in every day commerce.
Morgan Dollars Morgan Dollars are among the most popular of all United States coinage. The series was introduced in 1878 and minted continuously until 1904, and again in 1921. History of the 1878 Morgan Silver Dollar 1878 was the first minting of the Morgan silver dollar, and it was a turbulent first year for production. In order to fulfill the quota laid out by the Bland-Allison act, the Philadelphia Mint shut down production on all other coins and worked overtime. By 1982, Wayne Miller considered the 1878-S to be the least available of the early San Francisco Morgan dollar issues 1878-1882 in Mint State. However, earlier this was not the case, and he recalled a January 1964 advertisement to buy all Uncirculated silver dollars with the exceptions of the following, which at the time were considered to be.
The origins of the Morgan Dollar can be traced back to the Mint Act of 1873, which discontinued the Seated Liberty Dollar design. In its place the Trade Dollar was created, but intended for use primarily in trade with the Orient. The supply of silver had increased greatly following the discovery of the Comstock Lode. This increased supply was much too large for the production of Trade Dollars only, causing the silver market to fall into disarray. Direct pressure from the silver mining industry, particularly the western states, led to the creation of the Morgan Dollar.
With the passage of the Bland-Allison Act in 1878, the United States government was required to buy between two and four million ounces worth of silver every month, and convert it into silver dollars. These coins could be exchanged for gold at a fixed ratio of 16:1, meaning that sixteen ounces of silver were need for a single ounce of gold. The silver buying would be done at the current market rate, but the ratio would remain fixed despite fluctuations in the value of both metals. The measure was intended to restore the circulation of silver dollars, but large quantities of the newly minted coins would remain in storage for a very long time.
The new silver dollars featured a design by George T. Morgan, an English-born immigrant. He had had come to the United States in 1876, at the age of thirty-one, following a request by the Treasury Department. In England, he had studied and worked for the Wyon family, best known for their minting of several American colonial coinage issues. When he came to the United States, he was soon hired as assistant engraver of William Barber and started working on a large number of patterns meant for the new silver dollars. The majority of these are half dollars dated 1877, with a head of Liberty in various forms. The final design is said to have been based on Miss Anna W. Williams, a schoolteacher who lived in Philadelphia. Morgan never confirmed this, and it appears that the design was only loosely based on her.
The obverse of the Morgan Dollar depicts Liberty’s head, facing left. She wears a Phrygian cap, with the word LIBERTY on her hair band. Various agricultural features are seen, including wheat and oak leaves. Above the portrait is E PLURIBUS UNUM, with each word separated by a single dot. To the left are seven stars and another six are to the right. It must be noted that the stars are flat, thus not showing the radial lines usually found on American coinage. The date is below, and the designers initial, “M” for Morgan, is on the truncation of the neck.
The Morgan Dollar reverse features a Bald Eagle with wings outstretched with a small wreath surrounding. A branch and three arrows are within the eagle’s claws. The motto IN GOD WE TRUST is above, and the denomination ONE DOLLAR is below. UNITED STATES OF AMERICA surrounds both the wreath and eagle.
The design was slightly modified throughout the years. The first year of issue in 1878, with several varieties related to the number of tail feathers on the eagle. The first issues had a total of eight tail feathers, but this appeared unnatural and was later altered to seven tail feathers. In the process, a number of dies were altered, creating the 7/8 tail feather or doubled tail feather variety. Although this is a variety, it is often collected as a regular issue and included in most sets. The Morgan Dollars struck in 1921 were made from completely different hubs, and show many design differences on both sides.
A complete basic set of Morgan Dollars by date and mint mark consists of 97 coins and represents a major accomplishment to complete in any grade. Some collectors spend decades assembling the series in certified coin holders or coin albums. The series is also often collected by die varieties, usually cataloged by VAM numbers (standing for Van Allen/Mallis, the authors of the main reference on the subject).
- 1878 Morgan Silver Dollar
Coin Info
The 1878 Morgan Silver Dollar features a likeness of Miss Liberty on the obverse and an American bald eagle on the reverse. While Morgan Silver Dollars are technically called Liberty Head silver dollars, they are more widely known by their namesake designer, George T. Morgan. 1878, the first year of the Morgan Silver Dollar series, features a wide array of varieties, many of which are based on the number of tail feathers seen on the eagle.
The 1878 Morgan Silver Dollar was produced in three mints: Philadelphia, San Francisco, and Carson City. The most valuable 1878 Morgan Silver Dollar carries the 'CC' mintmark used by the Carson City Mint. It always carries a premium value because of very low production, making it the rarest 1878 Morgan Dollar. The San Francisco Mint used an 'S'. The main mint in Philadelphia did not use a mintmark.
1878 Morgan Silver Dollar Mintage Figures
1878 Morgan Silver Dollar Value
- 1878, 8 Feathers: 749,500; $40+
- 1878, 7 Feathers: 9,759,300 (all types); values indicated below
- 1878, 7 Over 8 Clear Double Feathers: $35+
- 1878, 7 Feathers 2nd Reverse: $35+
- 1878, 7 Feathers 3rd Reverse: $35+
- 1878 CC: 2,212,000; $150+
- 1878-S: 9,774,000; $35+
- 1878, 8 Feathers Proof: 500; $4,000+
- 1878, 7 Feathers Proof: 250 (all types); values indicated below
- 1878, 7 Feathers, 2nd Reverse Proof: $3,500+
- 1878, 7 Feathers, 3rd Reverse Proof : $16,000+
It is important to remember when evaluating the overall value and scarcity of any 1878 Morgan Silver Dollar that millions of these coins were melted during the early 20th century and again during the silver boom of the late 1970s and early 1980s. Therefore, you cannot assume the currently existing population for a given date is close to its original mintage figure. For, in many cases, the mintage numbers often grossly misrepresent on the positive side the actual current population of 1878 Morgan Silver Dollars.