1879 Morgan Silver Dollar (bright white)

The 1879 Morgan Silver Dollar has a value of between $30 and $30,000+
Type: Morgan Dollar
Value: $30.00 to $30,000.00
Silver Value: $56.23.
Mintage’s: 756,000 @ CC, 2,887,000 @ New Orleans, 9,110,000 @ S, 14,806,000 @ P (no mint mark)
Metal Content: 90% silver, 10% copper
Raw Weight: 26.73 g
Silver Weight: .7735 oz
Face Value: $1.00
Diameter: 1.5 in
Edge: Reeded
Years Minted: 1878 to 1904 and then again in 1921

Expert Advice

As with all silver coins of this era, the 1879 Morgan Silver Dollar is composed of 90% silver and 10% copper to comply with the Coinage Act of 1873 which standardized metal content for coins among other things. These were minted at New Orleans, San Francisco, Philadelphia and Carson City with the Carson City mintage being the most valuable. Look for a CC over CC error as well this year.

Values

CC’s worth $100 to $30,000, O’s worth $30 to $4,000, S’s worth $33 to $100, No Mint Mark’s worth $30 to $800 all depending upon condition, market, and time.

For even more information on the Morgans check Wikipedia, or one of the image or tagged links below with related content.

1878 Morgan Dollar (90% silver)

The 1878 Morgan Silver Dollar has a value of between $30 and $60,000
Type: Morgan Dollar
Value: $30.00 to $60,000.00
Silver Value : $56.23 USD
Mintage’s: 9.7 million in San Francisco, 2.2 million in Carson City, and 10 million in Philadelphia
Metal Content: 90% silver, 10% copper
Raw Weight: 26.73 g
Silver Weight: .7735 oz
Face Value: $1.00
Diameter: 1.5 in
Edge: Reeded
Years Minted: 1878 to 1904 and then again in 1921

This was the first year the Morgan Silver Dollar was minted. Due to differences in where the coin was minted and which dies were used, these coins have a variety of values. There are 8 feathered (8TF), 7 feathered (7TF), 7/8 feathered and those with a 1879 reverse. These were minted in both Carson City and in San Francisco and, at the higher end of the grading scales can have significant value.

Morgan Silver Dollar (img)

Where Did The Morgan Silver Dollars Come From?

Back in the 1870s, the Comstock Silver Lode produced a huge oversupply of silver while the unemployment rate in the US was significant. The US Mint struck a deal with Nevada silver producers to generate a large amount of Morgan silver dollars. This provided an outlet for the oversupply of Comstock silver while providing employment to workers all over the country. Morgan silver dollarswere produced in 5 different mints and while the immediate goal of providing employment was met, so many Morgan silver dollars were produced that millions of them had to be placed in storage to prevent negative effects on the overall US economy.

The Move Of The Century

With so many millions of Morgan silver dollars in storage, the US government decided something had to be done. In 1917-1918, the Pittman Act was passed which made provision for some 300 million Morgan silver dollars to be melted down and the silver reused for other coins and purposes. The coins that were melted were from multiple years and from multiple mints which means that some years and mintages were virtually wiped out. This created a collectable coin market which made the Morgan silver dollar a very popular coin to collect as well as to invest in.

A Reprieve?

Since so many Morgan silver dollars were produced, even after the melt-off in 1918, the US Mint still had several large stockpiles in hidden away in storage. Finds were being made as late as the early 1960s at which time a large cache of Morgan silver dollars were discovered. This brought to light thousands of uncirculated coins, some of which were considered to be rare years and even rarer mintages. In the 1970s, the US Mint held a sale of uncirculated Carson City Morgan silver dollars, introducing a new generation to high value coins at an easily affordable price.

The Morgan Silver Dollar Today

Today, while it does depend on the condition and the rarity of the coin, Morgan silver dollars have become arguably the most popular coin for both collecting and investing. Coin prices rarely drop and with so many Morgan dollars available, the buy in for even the novice coin collector or a beginning investor is easily affordable. If you’re looking for a great way to start a coin collection, a great way to expand your coin collection or you want to find a great investment coin to enhance your portfolio and protect your investment dollars, going with Morgan silver dollars is definitely a great way to go.